Peptic Ulcer Drugs Market to Reach US$ 47.7 Bn by 2030; Short-term Decline Expected Due to Reduction in Non-essential Physician Visits amidst COVID-19 Outbreak
Published On : Aug 13, 2020
Surge in the consumption of NSAIDs due to growing prevalence of inflammatory diseases is the major factor driving the growth of the global peptic ulcer drugs market. Other trends driving growth include increasing adoption of peptic ulcer drugs over surgery, changes in disease management, prevalence of stress ulcers due to higher smoking rates, availability of affordable therapy due to improvements in the service sector, and increasing awareness toward disease management through government campaigns. However, chronic side-effects associated with the long-term use of peptic ulcer drugs is a factor hampering the growth of the global peptic ulcer drugs market to some extent.
As per PMR analysis, the global peptic ulcer drugs market is set for steady growth over the next ten years, to be valued at US$ 47.7 Bn by 2030-end.
Key Takeaways from Peptic Ulcer Drugs Market Study
- By product, the proton pump inhibitors segment was the largest revenue generating segment in the historical years. However, revenue from the potassium-competitive acid blockers segment is expected to expand rapidly, owing to the introduction of new P-CAB drugs in the market.
- Based on indication, the gastric ulcers segment is anticipated to expand at the highest CAGR of 3% over the forecast period.
- On the basis of distribution channel, the hospital pharmacies segment led the global peptic ulcer drugs market, and is expected to remain the leading segment ahead too. Increasing hospitalization rates due to ulcer complications are expected to be the primary factor fuelling revenue growth of the segment over the forecast period.
- North America holds the largest share in the global peptic ulcer drugs market, followed by Europe and East Asia.
- Due to the worldwide COVID-19 outbreak, physician and hospital visits for non-essential treatment have reduced considerably, putting breaks on the progress of the peptic ulcer drugs market space.
“Increasing NSAID consumption is the major boosting factor for the growth of the global peptic ulcer drugs market,” says a PMR analyst.
Peptic Ulcer Drugs Market: Competition Analysis
Key players operating in the global peptic ulcer drugs market are Daewoong Pharmaceutical Co. Ltd., Takeda Pharmaceutical Company Limited, Pfizer Inc., Abbott Laboratories, AstraZeneca Plc., Cadila Healthcare Ltd., Boehringer Ingelheim GmbH, Eisai Co. Ltd., Yuhan Corporation, and GlaxoSmithKline Pharmaceuticals Ltd. These companies are primarily focusing on strategies such as co-promotions and co-marketing of their brands to penetrate the fastest-growing emerging markets across the world.
What Else is in the Report?
Persistence Market Research offers a unique perspective and actionable insights on the peptic ulcer drugs market in its latest study, presenting historical demand assessment of 2015–2019 and projections for 2020–2030. Research of this report has been done based segmentation into product, indication, and distribution channel, across seven key regions of the world.
For additional insights on how the growth of the peptic ulcer drugs market will unfold over the next decade, write to the analyst at firstname.lastname@example.org
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Peptic Ulcer Drugs Market
Global Market Study on Peptic Ulcer Drugs: Increasing NSAID Consumption Boding Well for Growth of the Market
Global Market Study on Peptic Ulcer Drugs: Increasing NSAID Consumption Boding Well for Growth of the MarketRequest TOC