Auranofin is a gold-containing salt with chemical formula and name C20H34AuO9PS and Gold, 2,3,4,6 –tetraacetate respectively. It is used for treating arthritis and is classified as an antirheumatic agent by World Health Organization and is also called disease-modifying antirheumatic drug (DMARD). Antirheumatic drugs are the ones that are used in the treatment of rheumatism. Auranofin is known by different names in different countries. Auranofin improves arthritis symptoms like painful, tender and swollen joints and morning stiffness. Also, it is said to decrease the pain by reducing inflammation and it slows down or stops the immune system from attacking the joints and Auranofin acts by inhibiting DNA synthesis. Auranofin should be considered only when other non-steroidal anti-inflammatory drugs and appropriate steroids are ineffective in controlling the symptoms of rheumatoid arthritis.
The use of Auranofin is increasing as the number of people having arthritis is increasing. This can drive auranofin market as it is effective and is reported to exhibit less serious side effects as compared to other drugs that are used for treating arthritis.
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Increasing Demand for Auranofin Owing to Rising Arthritis Demographics
According to CDC reports, arthritis is still a serious health crisis in the U.S. and it is a global epidemic as well. Recent estimates showed that nearly 91 million Americans might have arthritis (37%), including one- third of those aged bwtween18 to 64 plus 300,000 children approximately. The underlying reasons for the increasing population with arthritis are obesity, lack of physical activity, Vitamin D deficiency and others. Also, Arthritis is rising in Europe, Latin America and in Middle East Africa and reasons being sedentary lifestyle and in some cases, heredity. The growing population with arthritis is anticipated to fuel the Auranofin market as it is less severe than the other drugs that serve the same purpose.
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Auranofin Market: Market Segmentation
Auranofin market can be segmented on the basis of form and product type.
On the basis of form, Auranofin can be segmented as:
On the basis of end use, Auranofin can be segmented as:
Auranofin Market: Key Players
The Auranofin market is rising because of the growing arthritis population and it is expected to grow in the coming years. The key players of Auranofin include Ferro Pfanstiehl Laboratories, Inc.,
Prometheus laboratories inc, JOHNSON MATTHEY INC, Lek Pharmaceuticals d.d, Medichem SA and Company Overview of Lonza Group Ltd and others. Apart from them, more industrialists and manufacturers are showing a keen interest in the Auranofin as the demand for the auranofin, due to the rising population with arthritis is growing and is expected to escalate until and unless people don’t practice healthy lifestyle and engage themselves in physical activities.
Opportunities for Market Participants: Auranofin
According to CDC report (Centre for Disease Control and Prevention) of 2017, it was estimated that the number of men and women would increase to more than 78 million by 2040 and their need for special medical assistance will also grow. It is also anticipated that the medical specialists in arthritis will also not be easily available and will be expensive as well. The manufacturers and key players should recognize this as an opportunity to escalate the production of Auranofin and also introduce new derivatives of Auranofin in order to cater to the growing demand and rising arthritis population. Auranofin also has some side effects such as itching and skin rash white patches and sores that may develop inside the mouth or on the lips, pain or swelling in the gums and tongue, metallic taste in the mouth, severe or ongoing diarrhoea, severe nausea, vomiting, stomach cramps and others. So, the key players should take this as an opportunity and develop such derivatives that don’t have severe after effects and relieve pain more efficiently and aid in curing the disease permanently.
Huge population of Arthritis belongs to North America. Hence, manufacturers should focus on this region. Also, manufacturers of Auranofin should focus on Europe as the population with arthritis in these regions is growing enormously.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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