Intravenous pegloticase is a drug used for the treatment of chronic and refractory gout disease, used for treating the 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.
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.
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 the global restrictions. Also, the flow of patients seeking gout treatment in the hospitals and clinics is reduced which is affecting the global intravenous pegloticase market.
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Intravenous pegloticase Market: Drivers and Restraints-
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 which can restrain the growth of the intravenous pegloticase market such as adverse reactions of 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.
Intravenous pegloticase Market: Overview
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, the hospital pharmacies are expected to be the most profitable segment in the global intravenous pegloticase market due to the higher number of patients flow in the hospitals.
Intravenous pegloticase Market: Region-wise Outlook
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.
Intravenous pegloticase Market: Key Market Participants
Some of the market participants in the global intravenous pegloticase market identified across the value chain include:
- Horizon Therapeutics
- BTG plc
- Savient Pharmaceuticals Inc
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