Asia Gout Disease Treatment Market, By Drug Class (Nonsteroidal Anti-inflammatory Drugs (NSAIDs), Corticosteroids, Colchicine, and Urate-lowering Agents), By Route of Administration (Oral and Injectable), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and By Country (China, India, Japan, South Korea, Thailand, Indonesia, Singapore, Vietnam, and Rest of Asian Countries) is estimated to be valued at US$ 904.7 Million in 2023 and is expected to exhibit a CAGR of 9.2% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Major players in the market are focused on organic strategies such as launch of campaign in market share. For instance, in March 2020, Horizon Therapeutics plc, launched Down and Out Kidney, a campaign to highlight the damaging effects associated with the accumulation of uric acid and gout in people with chronic kidney disease (CKD).
Asia Gout Disease Treatment Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China) in the last months of 2019 as "coronavirus disease 2019" or COVID-19. This virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries such as India, China, Brazil, and others faced problems with regard to the transportation of tests from one place to another.
COVID-19 had a positive impact on the Asia Gout Disease Treatment Market. For instance, according to an article published by the Annals of Rheumatic Diseases, in March 2022, titled “Colchicine prophylaxis is associated with fewer gout flares after COVID-19 vaccination”, it has been observed that the COVID-19 vaccine was negatively associated with colchicine prophylaxis and was linked to an elevated risk of gout flares, which primarily appeared in the first month following each dosage. Thus, COVID-19 has a negative impact on the treatment as well as the supply of therapeutics related to gout.
Asia Gout Disease Treatment MarketMarket: Key Developments
On March 15, 2023, Cepheid, a molecular diagnostics company, announced the launch of its first manufacturing unit in India at Mahadeva Kodigehalli, Bengaluru. The 77,000 square-foot facility will manufacture the company’s industry Xpert Staphylococcus Aureus testing cartridges for India and other countries.
In July 2021, Beckman Coulter, is a clinical diagnostics company, announced that it has entered into definitive agreements with Quidel Corporation to obtain all rights related to the manufacture, distribution, and sale of a BNP assay for Beckman Coulter analyzers. Under the terms of the agreements, Quidel will continue to manufacture and supply certain components to Beckman Coulter related to the assay, and Beckman Coulter will exclusively manufacture and sell to customers the BNP assay currently sold as TRIAGE BNP by Quidel, under the brand name Access BNP
In January 2020, Wockhardt, a global pharmaceutical and biotechnology company headquartered in Mumbai, India, announced regulatory approval of two novel antibiotics EMROK (IV) and EMROK O (nasal), for acute bacterial skin and skin structure infections, including diabetic foot infections and concurrent bacteraemia.
In May 2020, F. Hoffmann-La Roche Ltd. is a multinational healthcare company in switzerland announced its acquisition of Stratos Genomics. The development of diagnostic sequencing based on DNA was made possible by this acquisition. This enhanced the business's healthcare diagnosing division and raised its revenue-generating capacity.
Browse 30 Market Data Tables and 26 Figures spread through 175 Pages and in-depth TOC on “Asia Gout Disease Treatment MarketMarket”- Forecast to 2030, Asia Gout Disease Treatment MarketMarket,By Drug Class (Nonsteroidal Anti-inflammatory Drugs (NSAIDs), Corticosteroids, Colchicine, and Urate-lowering Agents), By Route of Administration (Oral and Injectable), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and By Country (China, India, Japan, South Korea, Thailand, Indonesia, Singapore, Vietnam, and Rest of Asian Countries)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/asia-gout-disease-treatment-market-4141
Key Takeaways of the Asia Gout Disease Treatment Market:
- The global inhaled antibiotics market is expected to exhibit a CAGR of 9.2% during the forecast period. Market players are involved in deploying strategic initiatives, which include product launnches and expansion of distribution networks, among others. For instance, in November 2022, Cipla Limited, is multinational pharmaceutical company in India, has launched pirofy Device in India to Help Gout its wireless, portable device capable of performing lung function tests outdoors and in remote areas.
- Among Drug Class, the Nonsteroidal anti-inflammatory drugs (NSAIDs) is anticipated to hold a significant share in the respiratory disease testing market during the forecast period. This is due to its wide range of advantages, such as the compact size of the device, higher accuracy, longer life. For Instance,in December 2022, Lupin Limited, a multinational pharmaceutical company based in Mumbai, launched generic version of Pennsaid, used to treat pain in the knees caused by osteoarthritis in the Asia gout disease treatment market.
- Major players operating in the Asia gout disease treatment market are AstraZeneca Plc, Takeda Pharmaceutical Company Limited, Teijin Pharma Limited, Hikma Pharmaceuticals Plc., Hikma Pharmaceuticals Plc., Zyla Life Sciences, Horizon Therapeutics plc, JW Pharmaceutical CORPORATION, Abbott Diagnostics (Abbott Laboratories), Labcorp ,Antibodies Inc., Networks LLC, Beckman Coulter, Inc., Euro Diagnostica AB, F. Hoffmann-La Roche Ltd., Qiagen NV, Siemens Healthcare GmbH, and Augurex Life Sciences Corp., Thermo Fisher Scientific Inc., Bio Rad Laboratories Inc., Exagen Inc., Genway Biotech, Inc., Microdrop LLC (imaware), Svar Life Science and LG Chem.
