Data Bridge Market Research analyses a growth rate in the global hyperuricemia drugs market in the forecast period 2022-2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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The global hyperuricemia drugs market is expected to witness significant growth during the forecast period. As per the data published in National Institute on Alcohol Abuse and Alcoholism, U.S. an average of 17 million U.S. citizens suffered from alcohol use disorder in 2011. The life expectancy of people is increasing worldwide, that has led to a rise in the elderly population. This trend has led to a higher occurrence of this condition and per capita demand for its therapeutics, thus positively affecting their industry.
Hyperuricemia is the type of condition wherein an excessive level of uric acid is produced in the blood. The level of uric acid in the blood is the balance between the breakdown of purines and the rate of uric acid excretion. The alteration in the uric acid level may cause hyperuricemia. High uric acid can result in serious diseases such as painful arthritis called gout. Nearly 43.3 million Americans have hyperuricemia and gout conditions.
Rising R&D and New Drug Approvals
Numerous clinical trials are carried out by several research institutes and companies in order to discover most efficient drug for rearming the disorder. For instance, Ardea Biosciences, Inc. is conducting phase 2 clinical trials for testing the efficiency of RDEA806 for treatment of hyperuricemia. Hebei Medical University is conducting phase 3 trials to test the hypothesis that prednisone is superior over allopurinol in renal function improvement in heart failure patients with hyperuricemia. TWi Biotechnology, Inc. was awarded with U.S. patent in 2014 for AC – 201 which is effective in treating hyperuricemia.
Increasing Collaborations and Market Expansion
Some of the bulging companies operating in the market insist on collaborations for development, broader product portfolios, and regional expansion in developing markets. These market players’ major strategic undertakings to increase their market share. Thus, these factors are growing the market.
Asia-Pacific has been witnessing positive growth for global hyperuricemia drugs market market throughout the forecasted period due to increasing initiatives taken by the government and pharmaceutical organizations to spread awareness and presence of generic manufacturers. North America dominates the market due to the advancement of technology for kidney diseases and increasing initiatives taken by the pharmaceutical organizations to generate novel formulation.
Some of the major players in Hyperuricemia Drugs Market are Pfizer Inc (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Mylan N.V. (U.S.), Fresenius Kabi AG (Germany), Hikma Pharmaceuticals PLC (U.K.), Novartis AG (Switzerland), Teva Pharmaceutical Industries Ltd. (Israel), Bristol Myers Squibb Company (U.S.) GSK Plc. (U.K.), Bayer AG (Germany), Sun Pharmaceutical Industries Ltd (India), Dr. Reddy’s Laboratories Ltd (India), Endo International plc (Ireland) among others.
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