The global colchicine tablet 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 tablet 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 tablet 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.
Some Key Factors Contributing to the Global Pharma & Healthcare Market Growth
Unprecedented revenue growth of the global pharma & healthcare industry is attributed to factors such as rising prevalence of chronic and acute diseases worldwide, increasing geriatric population, rising awareness of health & wellness among consumers, and growing demand for more advanced healthcare services. Increasing demand for advanced drugs and therapeutics, growing availability of next-generation diagnostics and treatment options – especially in developing countries like India and China – rise in R&D activities and clinical trials in the pharmaceutical and biotechnology sectors, increasing public and private investments in healthcare research projects, and rising consumer expenditure on healthcare are among the other significant factors contributing to the industry revenue growth.
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 tablet 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 tablet 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 tablet 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 tablet 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.
Top Players in the Global colchicine tablet Market:
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.
The coronavirus pandemic has had a drastic impact on the global healthcare industry, with rising cases of COVID-19 worldwide, substantially growing hospital admission and readmission rates, and rising demand for telehealth and telemedicine services for remote patient monitoring. Furthermore, rising focus on development of rapid COVID-19 diagnostics such as the RT-PCR test kits, increased government funding for vaccine development, stringent regulatory norms and protocols for COVID-19 safety, and increasing sales of COVID-19 safety equipment, such as N-95 masks, face shields, PPE kits, and hand sanitizers, have driven the global pharma & healthcare industry revenue growth over the recent past.
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colchicine tablet Market Segmentation:
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
Global colchicine tablet Market Report: Regional Segmentation
North America
S.
Canada
Mexico
Europe
Germany
K.
Italy
France
BENELUX
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Rest of APAC
Latin America
Brazil
Rest of LATAM
Middle East & Africa
Saudi Arabia
A.E.
South Africa
Rest of MEA
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Frequently Asked Questions Answered in the Report:
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