Europe Gout Therapeutics Market

Europe Gout Therapeutics Market Size (2023 to 2028)

The gout therapeutics market size in Europe is predicted to be valued at USD 1.56 billion by 2028 from USD 0.84 billion in 2023, growing at a CAGR of 13.23% from 2023 to 2028.

The growing geriatric population in the European region is a key factor driving the Europe gout therapeutics market. Within the European region, Ireland has the highest incidence of rheumatoid arthritis, with nearly 38 cases per 1000,000 population. Arthritis, particularly gout, is a form of inflammatory arthritis that causes severe joint pain. While there is no known cure for gout, it can be effectively managed with appropriate gout therapy. Insufficient uric acid in the body is a leading cause of gout, which results in uric acid crystals in the joints, fluids, and tissues. In the European market, demand for gout therapeutics is on the rise as individuals experiencing severe pain, inflammation, and redness near their joints seek treatment.

The rising incidence of chronic diseases and rapid changes in lifestyle habits further boost the growth rate of the European gout therapeutics market. The mortality rate is growing gradually with time due to chronic diseases such as diabetes and CVDs. Hyperuricemia and gout can exacerbate the risk of developing cardiovascular diseases, hypertension, stroke, chronic kidney disease, and heart failure. To mitigate these potentially life-threatening situations, patients with high uric acid concentration require prompt gout treatment. The market demand for gout treatment is expected to remain high during the forecast period, owing to the aforementioned factors. Alterations in lifestyle, such as increased alcohol consumption, have emerged as a primary reason for the incidence of gout disease among the drinking population.

The rapid advancements in drug development contribute to the growth of the European gout therapeutics market. Researchers are dedicating considerable effort towards developing innovative drug combinations to manage gout disease in its early stages effectively. The growing number of clinical trial centers, research and development activities, drug approvals, and infrastructure facilities are some of the key factors driving demand in the market. With the increasing focus on gout treatment and expanding investments in research and development, the market is anticipated to witness promising growth in the coming years.

On the other hand, the high costs associated with gout treatments are hampering the European market growth. In addition, poor awareness among the relevant patient population regarding gout therapies, long-time approval for the new drugs, lack of availability of drugs in pharmacies, and side effects of the gout drugs hinder the market growth in Europe.

This research report on the Europe gout therapeutics market has been segmented and sub-segmented into the following categories.

By Drug Class:

• Non-steroidal Anti-Inflammatory Drugs (NSAIDs)
• Corticosteroids
• Colchicine
• Urate Lowering Agents

By Disease Condition:

• Acute
• Chronic

By Country:

• UK
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Turkey
• Czech Republic
• Rest of Europe

Europe occupied a considerable share of the global market in 2022 and is anticipated to register a promising CAGR during the forecast period.  The UK and Germany held the major share of the European market in 2022. The growing number of manufacturing facilities for gout-related drugs in the UK and Germany major drive the market growth in these countries. In addition, the growing number of hospitals in these countries has a favorable impact on market growth. Moreover, the presence of key players, advancements in biologics, and increased government investments are further propelling the market growth. In the United Kingdom, several surveys are being conducted to develop accurate drugs for treating gout disease. Rheumatology plays a significant role in the diagnosis and treatment of arthritis and related ailments.

KEY MARKET PLAYERS:

AstraZeneca, Horizon Therapeutics, Takeda Pharmaceutical Company Limited, Grünenthal, Teijin Pharma Limited, Ipsen Group, Regeneron Pharmaceuticals, Inc., Novartis International AG, Sobi and Menarini Group are some of the key players in the European gout therapeutics market.