Hyperuricemia Market to Grow with a CAGR of 6.22% through 2028
Advances in
Diagnostic Technologies are expected to drive the Global Hyperuricemia Market
growth in the forecast period, 2024-2028.
According
to TechSci Research report, “Hyperuricemia Market – Global Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2028”, the
Global Hyperuricemia Market stood at USD 1.06 billion in 2022 and is
anticipated to grow with a CAGR of 6.22% in the forecast period, 2024-2028. Hyperuricemia
is a medical condition characterized by elevated levels of uric acid in the
blood, often associated with conditions like gout, kidney stones, and
cardiovascular diseases. As the prevalence of hyperuricemia continues to rise
worldwide, the market for its diagnosis, treatment, and management is expanding
rapidly. One of the foremost drivers of the
global hyperuricemia market is the alarming increase in the prevalence of
hyperuricemia itself. Changes in lifestyle, including diets rich in purine-containing
foods, sedentary habits, and obesity, have contributed to a surge in uric acid
levels among individuals. This, in turn, has led to a higher incidence of gout
and related complications, necessitating the need for diagnostic tests and
therapeutic interventions. The growing awareness of hyperuricemia and its
health implications is prompting more individuals to seek medical attention,
further propelling market growth. The global population is aging, and advanced
age is a significant risk factor for hyperuricemia. As people grow older, their
bodies become less efficient at processing and excreting uric acid, making them
more susceptible to elevated levels. This demographic shift is a substantial
driver for the hyperuricemia market, as the elderly population requires more
comprehensive diagnostic tools and therapeutic options to manage their
condition effectively.
Diagnostic
technologies have advanced significantly in recent years, enabling healthcare
professionals to accurately diagnose hyperuricemia and its associated
conditions. Blood tests, ultrasound, and imaging techniques have become more
sophisticated and accessible, allowing for quicker and more precise
assessments. The availability of these advanced diagnostic tools has not only
increased the detection rate of hyperuricemia but has also facilitated early
intervention and personalized treatment plans, driving market growth. Pharmaceutical
companies have developed an array of therapeutic options to manage
hyperuricemia effectively. These medications work by reducing uric acid
production or enhancing its excretion, thereby reducing the risk of gout
attacks and related complications. Established drugs like allopurinol and
febuxostat have been joined by newer entrants, offering patients a broader
spectrum of treatment choices. This diversity in therapeutic options ensures
that healthcare providers can tailor treatment plans to individual patient
needs, further boosting the hyperuricemia market.
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"Global Hyperuricemia Market.”
Ongoing research
and development (R&D) efforts in the field of hyperuricemia have been
instrumental in driving market growth. Pharmaceutical companies and academic
institutions are continually exploring innovative treatment modalities,
including gene therapy and precision medicine. These cutting-edge approaches
hold the potential to revolutionize hyperuricemia treatment, providing patients
with more effective and targeted therapies. As R&D investments continue to
pour into the field, the hyperuricemia market is likely to witness further
advancements and breakthroughs.
The Global Hyperuricemia
Market is segmented into Drug Type, Route of Administration Distribution Channel, regional distribution, and
company.
Based on drug
type, the Global Hyperuricemia Market is segmented into Xanthine Oxidase
Inhibitors, Nonsteroidal Anti-Inflammatory Drugs, Corticosteroids, Others. Based
on the Drug Type, the Xanthine Oxidase Inhibitors segment emerged as the dominant
segment in the global market for Global Hyperuricemia Market in 2022. Xanthine
Oxidase Inhibitors are particularly effective at preventing gout attacks, which
are acute and extremely painful episodes associated with hyperuricemia. These
drugs not only lower uric acid levels but also reduce the risk of crystalline
urate deposition, which is a primary trigger for gout flares. Xanthine Oxidase
Inhibitors generally have fewer side effects compared to other drug types
commonly used in hyperuricemia treatment, such as Nonsteroidal
Anti-Inflammatory Drugs (NSAIDs) and Corticosteroids. Also, Hyperuricemia is often a chronic condition that
requires long-term management. Xanthine Oxidase Inhibitors are well-suited for
this purpose as they provide sustained uric acid reduction over an extended
period, reducing the risk of recurrent gout attacks and associated
complications.
Based on Route
of Administration, the Global Hyperuricemia Market is segmented into Oral, Injectable. Based on the Route of
Administration, the Oral administration segment emerged as the dominant player
in the global market for Global Hyperuricemia Market in 2022. The ease of taking oral medications often results in
better patient compliance. Patients are more likely to adhere to their prescribed
treatment regimens when they can self-administer medication orally rather than
requiring injections, which can be perceived as more invasive and
uncomfortable. The majority of
hyperuricemia medications, including Xanthine Oxidase Inhibitors like allopurinol
and febuxostat, are available in oral formulations. This availability provides
healthcare providers with a wide range of options to choose from, catering to
individual patient needs and preferences.
North America
emerged as the dominant player in the global Hyperuricemia Market in 2022, holding the largest market share.
This is due to several reasons as North America has witnessed a significant
increase in the prevalence of hyperuricemia over the years. Lifestyle factors,
including poor dietary habits, sedentary lifestyles, and increasing obesity
rates, have contributed to the rising incidence of elevated uric acid levels.
The relatively widespread access to healthcare services in North America
ensures that individuals can readily consult healthcare professionals, undergo
diagnostic tests, and receive treatment. This accessibility reduces diagnostic
delays and promotes timely intervention.
Major companies
operating in Global Hyperuricemia Market are:
- Arthrosi Therapeutics, Inc
- Dr. Reddy's Laboratories Ltd.
- Urica Therapeutics, Inc
- Zydus Lifesciences
- Takeda Pharmaceutical Company Limited
- Novartis AG
- Hikma Pharmaceuticals Plc
- Mylan N.V.
- AstraZeneca Plc
- Sun Pharmaceutical Industries Ltd
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“The
Global Hyperuricemia Market is poised for significant growth in the coming
years, driven by a convergence of key factors. The escalating prevalence of
hyperuricemia, linked to lifestyle changes like poor diet and sedentary habits,
is creating a substantial patient pool seeking diagnosis and treatment. As
awareness about the health risks associated with elevated uric acid levels
continues to rise, more individuals are likely to seek medical attention,
boosting market demand. Also, advancements in diagnostic technologies are
enhancing the early detection of hyperuricemia, allowing for timely
interventions and personalized treatment plans. Additionally, the growing
popularity of telemedicine, especially in the wake of the COVID-19 pandemic, is
expanding access to healthcare services for hyperuricemia management. Emerging
economies are also playing a significant role in market growth, driven by
urbanization, improved healthcare infrastructure, and rising healthcare
expenditures.” said Mr. Karan Chechi, Research Director with TechSci Research,
a research-based management consulting firm.
“Hyperuricemia
Market - Global Industry Size, Share,
Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type (Primary, Secondary),
By Drug Type (Xanthine Oxidase Inhibitors, Nonsteroidal Anti-Inflammatory
Drugs, Corticosteroids, Others), By Route of Administration (Oral, Injectable),
By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online
Pharmacies) By Region and Competition”, has evaluated
the future growth potential of Global Hyperuricemia Market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Hyperuricemia Market.
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