Increasing incidences of gout across the globe and increasing prevalence of other related diseases such as Familial Mediterranean Fever (FMF) and arthritis are some major factors driving market revenue growth.
Increasing incidences of gout across the globe and increasing prevalence of other related diseases such as Familial Mediterranean Fever (FMF) and arthritis are some major factors driving market revenue growth
The global colchicine market size is expected to reach USD 2,552.84 Million in 2030 and register a revenue CAGR of 8.4%, according to the latest report by Reports and Data. Some key factors such as increasing incidences of gout across the globe and increasing prevalence of other related diseases such as Familial Mediterranean Fever (FMF) and arthritis are factors driving global market revenue growth. Increase in the number of clinical trials for colchicine has had a positive impact on the discovery of therapeutic alternatives for a variety of conditions, including cardiovascular diseases, COVID-19 symptom treatment, and others.
Colchicine is an alkaloid medication that was first licensed by the Food and Drug Administration (FDA) in 1961 and is mostly used to treat gout attacks. Gout is characterized by joint discomfort and inflammation, and it is caused by an excess of uric acid collecting in joints in the form of needle-like crystals. A gout is simply a severe form of inflammatory arthritis.
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Increase in clinical trials for colchicine is setting a trend that researchers say is encouraging the development of new medicines that is expected to aid pharmaceutical companies and consumers. In the last ten years or more, clinical trials for colchicine have increased dramatically, and North America and Asia Pacific countries have emerged as one of the top global locations for clinical studies. Increased focus of the US government and pharmaceutical firms on the positive effects of colchicine in the treatment of disorders such as Behcet’s Disease, Dermatitis Herpetiformis, and others has prompted scientists to seek out more therapeutic options.
Some Key Highlights from the Report:
- Based on dosage formulation, the solid segment accounted for largest revenue share in 2021 and is expected to continue to contribute major revenue share over the forecast period. The solid dosage form of colchicine is preferred owing to ease in preparation, more stable than other forms, appropriate for a long-term release and easy handling.
- Based on application, Familial Mediterranean Fever segment is expected to account for substantially large revenue share during the forecast period. Colchicine is so successful at preventing FMF and the development of amyloidosis that the accurate diagnosis and treatment are the most critical parts of medical care.
- On the basis of route of administration, the topical segment is expected to register a robust revenue CAGR throughout the forecast period, owing to evaluation parameter that is considered for topical dosage form are stability, penetrability, solvent property, and others.
- Based on age, geriatric segment is expected to account for substantially large revenue share during the forecast period. Geriatrics are more likely to be prone to Gout arthritis resulting in one of the driving factors for the colchicine market among seniors.
- On the basis of sales channel, the online pharmacies segment is expected to register a robust revenue CAGR throughout the forecast period, owing to its rising popularity because of its ease and convenience.
- Based on end-user, hospitals & clinics segment is expected to account for a substantially large revenue share during the forecast period. Growth of the hospitals & clinics segment is attributed to increasing number of hospitals in emerging Asian economies.
- North America accounted for largest revenue share in global colchicine market during the forecast period owing to increasing occurrences of gout and pain-related disorders, as well as the rising prevalence of gout treatments in the US
- Asia Pacific is expected to register a robust revenue CAGR throughout the forecast period, owing to increasing research and development activities in the region and growing geriatric population, which is expected to boost the incidence of gout.
- Some major companies profiled in the market report are Cipla Inc., Cardinal Health, Alchem International, Medinova AG, Odan Laboratories Ltd., Prasco Laboratories, Rhea Pharmaceutical, Takeda Pharmaceuticals, Romeg Therapeutics, LLC, Endo International plc, Mylan Pharmaceuticals Inc., West-Ward Pharmaceuticals, and Wockhardt, among others.
- In February 2019, ROMEG Therapeutics announced that the U.S. Food and Drug Administration (FDA) approved GLOPERBA.
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For this study, Reports and Data has segmented global colchicine market based on dosage formulation, application, route of administration, age, sales channel, end-user, and region:
Dosage Formulation Outlook (Revenue, USD Million, 2019 - 2030)
- Solid
- Capsule
- Tablet
- Semisolid Gel
- Liquid
Application Outlook (Revenue, USD Million, 2019 - 2030)
- Actinic Keratosis
- Gout
- Behcet’s Disease
- Dermatitis Herpetiformis
- Familial Mediterranean Fever
- Paget’s Disease
- Other Applications
Route of Administration Outlook (Revenue, USD Million, 2019 - 2030)
- Oral
- Topical
Age Outlook (Revenue, USD Million, 2019 - 2030)
- Pediatric
- Adult
- Geriatric
Sales Channel Outlook (Revenue, USD Million, 2019 - 2030)
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
End-User Outlook (Revenue, USD Million, 2019 - 2030)
- Hospitals & Clinics
- Other End-Users
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Regional Outlook: (Revenue, USD Million, 2019 - 2030)
- North America
- US
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Rest of Asia Pacific
- Middle East & Africa
- UAE
- Saudi Arabia
- Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Mexico
- Rest of Latin America
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Some points on how the report benefits stakeholders:
- The reports include historical (2019–2020) and forecast (2021–2030) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2019 and 2030.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
- The report contains data and information on customers, competitors, vendors/distributors, and other players and in the global marketplace.
- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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