Colchicine Market - Forecast(2024 - 2030)

The global Colchicine market size was valued at USD 1,558.9 million in 2030 and is expected to expand at a CAGR of 6.56% during the forecast period 2024 to 2030. Colchicine is a drug used to treat gout disease and is available as colcry, mitigare, zyclochin and so on brand names. Its function is not to cure gout disease rather it prevents gout attacks. Also, it is not an ordinary pain reliever and it can be used daily under a doctor’s prescription. It is available in different forms. FDA government bannedthe Colchicine drug. The U.S.is the largest market in the colchicine market. The Colchicine market is experiencing a notable trend marked by the increasing use for the treatment of gout. With a rich history in addressing gout symptoms, Colchicine's prominence has surged as the prevalence of gout rises globally. As a potent anti-inflammatory agent, Colchicine plays a pivotal role in managing acute gout attacks, making it a cornerstone in gout therapy. This trend reflects a growing recognition of Colchicine's efficacy in alleviating the pain and inflammation associated with gout, underscoring its significance in the pharmaceutical landscape for rheumatic conditions. The market is poised to evolve further as research explores additional therapeutic applications beyond its traditional use.

A noteworthy trend in the Colchicine market is its expanding role in cardiovascular applications. Beyond its traditional use for gout, Colchicine has garnered attention for its potential cardiovascular benefits. Clinical studies and trials have explored its efficacy in reducing inflammation associated with cardiovascular diseases, paving the way for its consideration in preventing cardiovascular events. This evolving trend signifies the pharmaceutical industry's exploration of Colchicine's broader therapeutic potential, presenting a paradigm shift in its application. As research in this area continues, the market is witnessing increased interest in Colchicine as a potential intervention in addressing inflammation-related cardiovascular conditions, driving its relevance beyond rheumatic disorders.

 

                   

Colchicine is an anti-gout, anti-inflammatory drug used for several years onwards. Its function is to lessen the uric acid in the blood. It is available in different forms like tablets, capsules, ointment and so on. Preventing gout disease is the primary function of colchicine drugs. FMF (Familial Mediterranean fever) disease is also using this drug. The applications industries of this drug are chemical, pharmaceutical, agricultural and so on. 

Colchicine market report comprises of pricing analysis for different brands of colchicine available in the market. The average price of generic brand colchicine for o.6mg is around $180 to $202. The brand name Colcrys has an average price of $181-$264 and Mitigare has $192 to $229.  Different generic colchicine tablets vary from 10-30 rupees for 10 tablets of 0.5 mg. 

Geriatrics suffer from gout attacks. They prefer colchicine drugs on a daily basis. This is one of the driving forces in the market that increases market growth. Daily consumption for curing FMF in adults and children 4 years old became the driving force in this market. The Colchicine market is witnessing heightened relevance as geriatric populations increasingly suffer from gout attacks. Gout, a painful inflammatory arthritis, predominantly affects older individuals, and the rising incidence among the geriatric demographic has propelled the demand for effective treatments like Colchicine. With its established efficacy in mitigating acute gout symptoms, Colchicine has become a vital therapeutic option for managing and preventing gout flares in older adults. As the aging population continues to grow globally, the Colchicine market responds to the pressing need for reliable solutions, emphasizing its role in providing relief and improving the quality of life for seniors grappling with gout-related challenges.

The price fluctuations of colchicine drugsare a challenge in this market. After 2009, the cost of this drug suddenly increases from $0.10 to $5. Researchers are finding to reduce the cost of the drug compared with generic colchicine drugs. The Colchicine market faces a significant challenge in the form of price fluctuations for the drug. This volatility poses obstacles to both consumers and healthcare providers, impacting accessibility to crucial treatment for conditions like gout. Factors contributing to price fluctuations may include changes in manufacturing costs, regulatory developments, and market dynamics. The unpredictable pricing landscape can lead to uncertainties in budgeting for healthcare organizations and financial strain for patients dependent on Colchicine. Addressing this challenge necessitates a collaborative effort from pharmaceutical manufacturers, policymakers, and healthcare stakeholders to create more stable pricing structures, ensuring continued access to this essential medication for those who rely on its therapeutic benefits.

The base year of the study is 2023, with forecasts done up to 2030. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of colchicine. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of colchicine market and their specific applications in different types of vehicles.

     

 

Form of Colchicine Drug: Tablets, injection, capsule, ointment, cream. 

Applications of colchicine Drug: Gout diseases, Amyloidosis, Behcet's disease, Dermatitis herpetiformis, Familial Mediterranean fever (FMF), Paget's disease, Pericarditis, Pseudogout, Biliary and hepatic cirrhosis. 

End Users of colchicine Drug: Humans, Cows, Rats, Dogs, and Others.

• North America: The U.S., Canada, Mexico

• South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica

• Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark

• APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong

• Middle East and Africa: Israel, South Africa, Saudi Arabia

Some of the other key players mentioned in this report are Endo International plc, Camber Pharmaceuticals, Wockhard, Kavya Pharma, Ottokemi, Takeda Pharmaceuticals U.S.A., Inc, Glentham Life Sciences,CDH Fine Chemical, Alchem International, Selleck Chemicals and few more companies. 

In November 2023, Endo International plc declared that Colchicine 0.6 mg capsules, a generic equivalent of Hikma's MITIGARE®, are now being shipped by Par Pharmaceutical, Inc., one of its operational companies. The U.S. Food and Drug Administration has authorized the first generic colchicine capsule.

In January 2022, the availability of Colchicine Tablets has been added to Camber Pharmaceuticals' existing product line. Tablets containing colchicine, an alkaloid, are prescribed for the prevention and management of adult gout flare-ups as well as for the treatment of familial Mediterranean fever (FMF) in adults and children younger than four.