According to the latest market report published by Credence Research, Inc. “Peptic Ulcer Drugs Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025” the global Peptic ulcer drugs market was valued at US$ 4.63 Bn in 2016, and is expected to reach US$ 5.92 Bn by 2025, expanding at a CAGR of 2.8% from 2017 to 2025.
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A peptic ulcer is forms of painful sores that develops on the mucosal lining of the stomach, small intestine or lower esophagus, mainly caused by Helicobacter pylori infection and long-term use of aspirin and certain other painkillers. For the purpose of study peptic ulcer drugs market is segmented on the basis of drug class such as antibiotics, proton pump inhibitors (PPIs), H2 receptor antagonists, gastric mucosal protective drugs, antacids and prostaglandin agonists. It is observed that currently, PPIs is major revenue generating segment because these drugs are recommended as a first line treatment for treatment of peptic ulcers caused by H. pylori bacterial infection and NSAIDs, due to its ability to reduce acid secretion. It is studied that, in the base year 2016, North America dominated the peptic ulcer drugs market in terms of revenue and it is anticipated that it will show steady growth during forecast period. According to Centers for Disease Control and Prevention (CDC) peptic ulcer affects more than 6 million population in the United States annually. Factors such as large number of affected population, higher cost of treatment medication, improved diagnostic technique and upsurge in funding by the government agencies in healthcare system are driving the market growth in North America. On the other hand, Asia Pacific will show highest growth rate during forecast period due to changing lifestyle, higher number of affected population, increasing rate of smoking and rising healthcare awareness would expected to drive growth of peptic ulcers drugs market globally.
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Market Competition Assessment:
The peptic ulcer drugs market is observed to be highly competitive and comprises large number of players. However, the market is currently dominated by few players such as Abbott Laboratories, AstraZeneca plc, Cadila Healthcare Ltd, Daewoong Pharmaceuticals, Eisai Co. Ltd, PharmaKing Co. Ltd, Taiho Pharmaceutical (A Otsuka Holdings), Takeda Pharmaceutical, Yuhan Corporation and other.
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Key Market Movements:
– Factors such as increase in number of target population, improved diagnostic techniques, easy availability of treatment medication, preferable use of peptic ulcer medication over surgery and over use of painkiller medications are driving the growth of peptic ulcer drugs market globally.
– Furthermore change in lifestyle such as stress, diet, increase in rate of smocking would assist growth of peptic ulcer drugs market.
– However, wide availability of generic medication, poor patient compliance to medication in some countries and adverse effects associated with the use of medication which would negatively impacting market growth of peptic ulcer drugs.
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