The global colchicine mechanism of action 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. Key factors such as increasing incidences of gout across the globe and increasing prevalence of 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 mechanism of action 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 mechanism of action 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.
Increase in clinical trials for colchicine mechanism of action 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 mechanism of action have increased dramatically, and North America and Asia Pacific countries have emerged as one of the top global locations for clinical studies.
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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:
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- 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 mechanism of action 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 mechanism of action 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 mechanism of action 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 mechanism of action 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 mechanism of action 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 mechanism of action Market Segmentation:
Dosage Formulation Outlook (Revenue, USD Million, 2019 – 2030)
- Solid
- 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 mechanism of action Market Report: Regional Segmentation
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.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
- U.A.E.
- South Africa
- Rest of MEA
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Global colchicine mechanism of action Market: Table of Contents
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.3. Methodology
1.4. Research Sources
1.4.1. Primary Sources
1.4.2. Secondary Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
Chapter 3. Key Insights
Chapter 4. Global Pharma & Healthcare Market Segmentation
4.1. Global Pharma & Healthcare Market COVID-19 Impact Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers’ analysis
4.2.3. Market restraints analysis
4.3. Technological Insights
4.4. Porter’s Five Forces Analysis
4.5. Regulatory Framework
4.6. Price trend Analysis
4.7. Competitive Metric Space Analysis
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Frequently Asked Questions Answered in the Report:
- What is the estimated revenue growth rate of the global colchicine mechanism of action market over the forecast period?
- What are the major factors driving the global market revenue growth?
- Which are the leading manufacturers and suppliers in the global colchicine mechanism of action market?
- Which regional market is expected to lead in terms of revenue share in the global colchicine mechanism of action market over the forecast years?
- What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?
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