Colchicine Market Size to Hit USD 2,552.84 Million By 2030

Colchicine Market
Colchicine Market

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.

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.

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Market Overview:

The global Colchicine market has significantly grown over the recent past and is expected to register rapid growth over the forecast period. The pharma and healthcare sector is rapidly evolving with innovations in technology, increasing healthcare spending and improving healthcare facilities and systems. Many hospitals, ambulatory surgical care centers and clinics across the globe are adopting advanced devices and equipment. Revenue growth of the global Colchicine market is significantly driven by factors such as increasing prevalence of chronic diseases, rapid advancements in healthcare and medical sector, high adoption of latest tools and techniques and growing funds by several public and private sectors. In addition, rising focus on drug development, increasing demand for precision medicine, high adoption of home care settings and point-of-care diagnostics, increasing investments in research and development activities are expected to drive global market revenue growth during the forecast period.

Competitive Outlook of the Global Colchicine Market

The globla Colchicine market study focuses on the revenue growth trajectories of the leading companies in this market. This section of the report throws light on the highly competitive landscape of the Colchicine market, pointing out the major players. The report further discusses the strategic initiatives undertaken by each of these market players, including mergers & acquisitions, collaborations, joint ventures, new product launches, new business deals, and technological innovations.

Top Companies Profiled in the Report:

  •  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.

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The report is inclusive of product type outlook, application spectrum, end-use outlook, technology landscape, regional market analysis, and competitive overview.

Colchicine 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

Geographic Segment Covered in the Report:

The Colchicine report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.

  • North America (USA and Canada)
  • Europe (UK, Germany, France and the rest of Europe)
  • Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
  • Latin America (Brazil, Mexico, and the rest of Latin America)
  • Middle East and Africa (GCC and rest of the Middle East and Africa)

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