The global intravenous pegloticase market was anticipated to reach a valuation of US$ 2.8 Billion in the year 2022. With a slowly progressing CAGR of 13.8% from 2023 to 2033, this market is expected to garner US$ 3.19 Billion by 2023 and US$ 11.61 Billion by 2033.
According to Future Market Insights, an ESOMAR-certified market intelligence firm, the primary drivers of the global intravenous pegloticase market are:
Globally, the number of chronic and refractory gout cases has increased noticeably in recent years. Patients from varying age groups, including the adult, pediatric, and geriatric population pools, are included in this. This scenario illustrates that the worldwide intravenous pegloticase market would see increasing sales curve during the forecast years. Aside from this, the market for intravenous pegloticase is predicted to have significant growth possibilities on the back of expanding efforts to conduct research and development, considering the growing worldwide population.
The market for intravenous pegloticase is also being driven by the rising incidence of gout as a result of altered lifestyle habits and an aging population. People are living longer on average, which has increased the number of elderly people in the world. This pattern has increased the prevalence of this ailment and the per capita need for its treatments, favorably influencing the business.
Higher alcohol consumption is probably going to fuel the growth of the intravenous pegloticase market during the anticipated period due to the rising prevalence of gout and the relationship between gout and alcohol use. A rise in clinical studies as well as the frequency of FDA certifications for gout therapies is two additional aspects anticipated to have a positive impact on the expansion of the intravenous pegloticase market volume in the future. Nevertheless, issues like the therapies' adverse effects might prevent the market from growing.
To keep their dominant market positions, some businesses in the worldwide intravenous pegloticase market are making strategic actions including mergers and acquisitions. In addition, leading market participants for intravenous pegloticase are placing an increasing emphasis on the creation of cutting-edge goods.
Clinical studies and R&D are being conducted by several businesses in the intravenous pegloticase industry. The most recent statement by Horizon Therapeutics serves as a case in point. The business said that it has begun a clinical trial to examine shorter infusion length for KRYSTEXXA®, a type of pegloticase injection utilized in tandem with Methotrexate in the therapy of uncontrolled gout. This scenario predicts that the intravenous pegloticase market will increase moderately during the ensuing years.
From 2023 to 2033, North America is anticipated to occupy a significant position in the worldwide market for intravenous pegloticase. This is a result of the big patient population, the presence of important actors, the accessibility of drugs, the development of a solid healthcare infrastructure, and the advantageous payment practices in the healthcare system. Nevertheless, the market in Asia-Pacific is estimated to show the highest CAGR of 12.5% over the forecast period, due to rising numbers of gout-affected people and a rise in awareness connected to varied symptoms. Such developments are expected to boost the revenues in the global market for intravenous pegloticase from 2023 to 2033.
| Data Point | Key Statistics |
|---|---|
| Expected Market value in 2023 | US$ 3.19 Billion |
| Expected Market value in 2033 | US$ 11.61 Billion |
| Growth Rate (2023 to 2033) | 13.8% from 2023 to 2033 |
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Intravenous pegloticase is a drug used for the treatment of chronic and refractory gout disease, used for treating patients who have undergone medications that did not work well. Gout is a disease caused due to excessive uric acid in the blood (hyperuricemia).
Intravenous pegloticase works by lowering the amount of uric acid in the body. Intravenous pegloticase is administered in healthcare settings and healthcare by healthcare providers to manage the adverse events of the drug. The intravenous pegloticase market is expected to expand during the forecast period due to the increasing prevalence of gout disease across the globe and strong R&D pipelines.
The pandemic coronavirus is believed to have a severe impact on the global intravenous pegloticase market. Intravenous pegloticase market manufacturing industries are being shuttered around the world causing an unprecedented technology and business model transformation.
There has been a disruption in the production and supply of intravenous pegloticase due to global restrictions. Also, the flow of patients seeking gout treatment in hospitals and clinics is reduced which is affecting the global intravenous pegloticase market.
The increasing prevalence of chronic and refractory gout disease is expected to be the major driver of the intravenous pegloticase growth market. The strong R&D pipelines are another major factor driving the growth of the intravenous pegloticase market.
The increasing mergers and collaborations between major companies and increasing demand for effective treatment of chronic and refractory gout are also driving the growth of the intravenous pegloticase market. Furthermore, the rising awareness and adoption of intravenous pegloticase in the management of chronic and refractory gout disease, especially in emerging nations is likely to boost the intravenous pegloticase market growth.
However, there are some factors that can restrain the growth of the intravenous pegloticase market such as adverse reactions to the drug associated with its use, including infusion reactions, and anaphylaxis.
Many other adverse events such as gout flare, nausea, contusion, nasopharyngitis chest pain, and vomiting have also been reported. Also, the stringent regulations imposed by the authorities restrict the intravenous pegloticase market growth.
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Based on the age group, the adult segment is expected to hold a major share in the intravenous pegloticase market due to the increasing prevalence of chronic and refractory gout disease among the adult population. Based on the indication, the chronic gout disease segment is expected to dominate the intravenous pegloticase market.
Based on the distribution channel, hospital pharmacies are expected to be the most profitable segment in the global intravenous pegloticase market due to the higher patient flow in the hospitals.
North America is expected to dominate the global intravenous pegloticase market, due to the advancement in the treatment of gout diseases and increasing prevalence of chronic and refractory gout disease in the region. North America is expected to be followed by Europe, due to the higher adoption of the drug in the region.
Asia-Pacific is expected to have a significant growth in the global intravenous pegloticase market over the forecast period due to the increasing awareness of intravenous pegloticase usage, and rising healthcare expenditure. Also increasing population in countries like China and India is further likely to boost the intravenous pegloticase market growth in the region.
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Some of the market participants in the global intravenous pegloticase market identified across the value chain include:
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Intravenous Pegloticase Market
