The global Febuxostat market is anticipated to grow at a significant CAGR during the forecast period (2022-2028). Febuxostat, a xanthine oxidase inhibitor, was approved by the FDA in 2009 for the long-term treatment of hyperuricemia in gout patients. Febuxostat drug is a medication that is used to treat gout by reducing uric acid levels. Due to the obvious risk of serious heart problems and stroke with febuxostat, it should only be used after treatment with a doctor-recommended medication. For instance, in July 2019, Alembic Pharmaceuticals had received approval from the US FDA for Febuxostat tablets, which are used to lower high levels of uric acid in adults with gout.
The rise in gout incidences across the globe is a major driver of the febuxostat market’s expansion. Furthermore, the growing geriatric population and rising healthcare costs will drive up demand for febuxostat. Furthermore, rising demand from various end-use industries, as well as expanding government and non-government initiatives, will drive the febuxostat market. Moreover, the increase in research and development activities as well as the emergence of new markets will provide beneficial opportunities for the febuxostat market during the forecast period.
Due to the obvious presence of major key players, high disposable income, and well-developed healthcare infrastructure in this region, North America dominates the febuxostat market. Asia-Pacific is expected to grow during the forecast period due to increased R&D activities, improvements in healthcare infrastructure, and growing government support in this region.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Type
- By Application
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape– Takeda Pharmaceuticals Co., MACLEODS Pharmaceuticals Ltd., Prinston Pharmaceutical Inc., Alembic Pharmaceuticals Ltd., Hikma Pharmaceuticals, among others.
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Global Febuxostat Market Report by Segment
By Type
- 40mg
- 80mg
- 20mg
- 120mg
By Indication
- Acute Gout
- Chronic Gout
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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