Increasing prevalence of gout and other related disorders, rising public awareness, rise in R&D investment in various industries, and growing elderly population are key factors contributing to high CAGR of Colchicine Market during forecast period.
Market Size – USD 553.8 Million in
2018, Market Growth - CAGR of 9.3%, Market Trends – Wider application range of
the drug
According to the current analysis of Reports and Data, the global Colchicine market was valued at USD 553.8 million in 2018 and is expected to reach USD 1.13 billion by the year 2026, at a CAGR of 9.3%. Colchicine is an alkaloid drug preferably used in the treatment of an attack of gout. Gout is usually characterized by joint pain and inflammation and is caused when an excess of uric acid gets accumulated in joints in the form of needle-like crystals in a joint. Gout is nothing but a critical case of inflammatory arthritis. Increasing incidences of arthritis across the globe and the rising global burden of gout are the major driving factors enhancing the market growth. Arthritis is the primary cause of disability, pain, and ultimately loss of work potential irrespective of age group. In 2017 approximately 54.4 million (25% of the population) American adults diagnosed with arthritis prominently osteoarthritis, rheumatoid arthritis, gout, lupus, and fibromyalgia were constantly growing, and is expected to reach 78 million (26% of the population) the U.S. adults. The rising pace of aging across the globe is rising joint-related disorders such as joint pain, and gouty arthritis is estimated to enhance the growth of colchicine.
Various field players are engaged in
developing new application range of the colchicine. For instance, Pharmascience
Inc. introduced colchicine application in the prevention of myocardial
infarction (MI). Various market players are engaged in modifying the colchicine
structure by combining with carriers such as borneol-chemically-modified
colchicine ethosome that showed better transdermal activity over the
traditional drug formulation in the treatment of inflammation. Growing usage of
colchicine in various industries such as veterinary and agriculture is expected
to increase the market growth. For example, colchicine is expected to enhance
quality traits in ornamental plants. It acts as a mitotic inhibitor for the
induction of polyploidy in plants leading to quality trait of flower. However,
allergic reactions caused due to colchicine may hinder market growth.
Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/2374
Further key findings from the report
suggest
·
Various government organization are
engaged in developing the application of colchicine in variety of diseased
conditions. For instance, National Institute of Child Health and Human
Development in collaboration with National Institute of Diabetes and Digestive
and Kidney Diseases and National Heart, Lung, and Blood Institute is developing
application of the drug in Non-Diabetic Adults with Metabolic Syndrome
·
Favorable funding scenario in the
respective industry is expected to be one of the major factor propelling
market. For instance, ZonMw (The Netherlands Organisation for Health Research
and Development), the Netherlands Heart Foundation, the Australian National
Health and Medical Research Council and generic pharma were engaged in
developing the colchicine use in medical conditions such as coronary artery
disease and other cardiovascular conditions
·
Various industry players are focusing
on expanding the client reach through various marketing strategies. For
instance, Par Pharmaceutical, Inc. (Par) one of the operating company of Endo
International plc has started distributing generic version of Takeda
Pharmaceutical's Colcrys (colchicine, USP) 0.6 mg tablets in the U.S. market
·
During 2019-2026, colchicine market
is expected to register a CAGR of 9.9% in Asia Pacific; followed by North
America and Europe, with 9.7% and 9.2% CAGR, respectively. High prevalence of
gout and related diseases across the globe is the major factor driving the
market during the forecast period across all regions.
·
The tablet form of colchicine segment
dominates the field with highest market share in the year 2018. It is estimated
to grow at a CAGR of 9.3% during the forecast period to reach USD 358.07
million by 2026
·
Based on application segment, acute
gout is expected to account for the CAGR 9.7% of the global colchicine market,
as increased demand of masking the odor and taste of the molecule used and to
provide sustained release effect
·
Asia Pacific is expected to account
for the CAGR 9.9% of the global colchicine market. Developing nations such
China, and India are likely to witness high growth due to high prevalence of
diseases, increased healthcare expenditure and growing R&D investment
·
Based on end use adults dominate the
total market share of colchicine, as the adults are high prevalent to gout and
arthritis followed by geriatric population worldwide
·
Allergic reaction encountered due to
colchicine use, and availability of alternative treatment options are among the
key factors likely to hamper growth of the colchicine market
·
Key participants include Abbott
Laboratories, Hikma Pharmaceuticals, Cipla Limited, West Ward Pharmaceutical,
Takeda Pharmaceuticals America, Inc., Cardinal Health, Major Pharmaceuticals,
Excellium Pharmaceutical, Mylan Pharmaceuticals Inc., Odan Laboratories
To know more about the report @ https://www.reportsanddata.com/report-detail/colchicine-market
For the purpose of this report,
Reports and Data has segmented the colchicine market on the basis of dosage
formulation, application, end use and region:
Dosage Formulation Outlook (Revenue,
USD Million; 2016-2026)
·
Tablet
·
Capsule
·
Solution
·
Cream
·
Injection
·
Others
Application Outlook (Revenue, USD
Million; 2016-2026)
·
Acute Gout
·
Chronic Gout
·
Familial Mediterranean Fever
·
Gout Prophylaxis
·
Actinic Keratosis
·
Amyloidosis
·
Behcet's Disease
·
Pericarditis
·
Pseudogout
·
Dermatitis Herpetiformis
·
Paget's Disease
·
Biliary and Hepatic Cirrhosis
·
Others
End Use Outlook (Revenue, USD
Million; 2016-2026)
·
Pediatric
·
Adult
·
Geriatric
Regional Outlook (Revenue in USD
Million; 2016–2026)
·
North America
o
U.S.
o
Canada
·
Europe
o
Germany
o
France
o
UK
o
Rest of the Europe
·
Asia Pacific
o
China
o
India
o
Japan
o
Rest of Asia-Pacific
·
Middle East & Africa
·
Latin America
o
Brazil
Comprehensive Overview of the Report:
·
In-depth analysis of the upstream raw materials,
downstream buyers, key vendors and manufacturers, and raw material sourcing
·
R&D activities, product advancements, and
strategic alliances adopted by key companies
·
Analysis of challenges, drivers, constraints,
opportunities, risks, and future prospects of the Colchicine industry
·
SWOT
analysis of each market player to provide an in-depth understanding of the
competitive landscape
·
Historical analysis and a comprehensive forecast
analysis is offered in the report
Request a customization of the report @
https://www.reportsanddata.com/request-customization-form/2374
Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018 – 2026
Chapter 3. Indicative Metrics
3.1. Growing application range of
the drug
Chapter 4. Colchicine Segmentation & Impact Analysis
4.1. Colchicine Segmentation
Analysis
4.2. Colchicine Market Value Chain
Analysis, 2016-2026
4.3. Regulatory framework
4.4. Colchicine Market Impact
Analysis
4.4.1. Market
driver analysis
4.4.1.1. Increasing prevalence of gout and other related disorders
4.4.1.2. Rising public awareness
4.4.1.3. Rise in R&D investment
4.4.2. Market
restraint analysis
4.4.2.1. Side effects associated with the drug
4.5. Key opportunities prioritized
4.6. Colchicine Pricing Analysis
4.7. Industry analysis - Porter's
4.8. Colchicine PESTEL Analysis
Chapter 5. Colchicine Market By Dosage Formulation Insights
& Trends
Continued….
Thank
you for reading our report. The report can be customized based on regional
segmentation and competitive landscape. Kindly get in touch with us to know
more and our team will ensure the report is well suited to meet your
requirements.
No comments:
Post a Comment