Gastroprotective Drugs Market to Hit US$ 5.60 Billion by 2031 | Exclusive Report by Growth Plus Reports
Newark, New Castle, USA, May 29, 2023 (GLOBE NEWSWIRE) — The market analysis of the global gastroprotective drugs market was conducted by Growth Plus Reports in 2022 and was valued at US$ 4.53 billion. The market is expected to hit a revenue CAGR of 2.38% to reach US$ 5.60 billion by 2031.
Analysis of the global market for gastroprotective drugs indicates that the revenue share is likely to rise significantly. The management of gastrointestinal illnesses, such as inflammatory bowel diseases, peptic ulcers, and acid reflux, requires the use of gastroprotective medications.
- According to estimates from the National Center for Biotechnology Information for 2019, gastritis accounts for around 1.8–2.1 million every year in the US.
- According to the National Center for Biotechnology Information, 20–30% of individuals who take nonsteroidal anti-inflammatory medicines regularly get ulcers.
- The prevalence of gastric disorders is increasing the market revenue growth rapidly.
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Gastroprotective Drugs Market Scope
|Market Size Value in 2022||US$ 4.53 billion|
|Revenue Forecast in 2031||US$ 5.60 billion|
|Base Year for Estimation||2022|
|Forecast Period||2023 to 2031|
|Segments Covered||Drug class, Application, and Region|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa|
Recent Development in the Gastroprotective Drugs Market:
- In January 2022, the generic version of Dexilant for the treatment of GERD, heartburn, and erosive esophagitis was made available in the US by TWI Pharmaceuticals.
- In July 2019, The USFDA approved Zydus Cadila’s Misoprostol pills, which are used to treat stomach ulcers.
A list of the companies operating in the global market for gastroprotective drugs includes:
- Sun Pharmaceutical Industries Ltd.
- Salix Pharmaceuticals, Inc.
- Pfizer, Inc.
- Gilead Sciences, Inc.
- Cipla, Inc.
Market Drivers and Restraints:
The global gastroprotective drugs market revenue is driven by gastrointestinal disorders such as reflux oesophagitis, gastritis, and duodenal and gastric ulcers. Furthermore, the high consumption of nonsteroidal anti-inflammatory drugs is causing gastrointestinal disorders and contributing to the market revenue share.
- Based on drug class, the global gastroprotective drugs market is segmented into antacids, histamine (h2) receptor antagonists, proton pump inhibitors, binding agents, and prostaglandin e analogs.
- Based on application, the global gastroprotective drugs market is segmented into gastric and duodenal ulceration, gastritis, reflux oesophagitis, ruminal acidosis, and others.
Segmentation By Drug Class
Based on the drug class, the proton pump inhibitors segment dominates the global gastroprotective drugs market with a 30% revenue share. This large share of revenue is attributed to the increased prevalence of these illnesses, and the rising use of proton pump inhibitors as first-line treatments will fuel the development of this market over the coming years.
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Regional Growth Dynamics
Based on the region, North America, with the largest revenue share, dominates the global gastroprotective drugs market. This sizable share of revenue share is attributed to the high prevalence of gastrointestinal disease. There are currently 60-70 million Americans who are experiencing gastrointestinal (GI) diseases driving regional revenue share.
Growth Plus Reports carried out extensive market research on the gastroprotective drugs market globally. We examined the fundamental market characteristics, significant investment opportunities, regional growth patterns, ten-year revenue estimates, competing market players, and mergers and acquisitions.
Table of Content
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2021
- Base Year – 2022
- Forecast Years – 2023 to 2031
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2022)
- Regulatory Landscape
- Reimbursement Scenario
- MARKET DYNAMICS
- GLOBAL GASTROPROTECTIVE DRUGS MARKET – ANALYSIS & FORECAST, BY DRUG CLASS
- Histamine (H2) Receptor Antagonists
- Proton Pump Inhibitors
- Binding Agents
- Prostaglandin E Analogues
- GLOBAL GASTROPROTECTIVE DRUGS MARKET – ANALYSIS & FORECAST, BY APPLICATION
- Gastric and Duodenal Ulceration
- Reflux Oesphagitis
- Rumenal Acidosis
GASTROPROTECTIVE DRUGS MARKET TOC
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