Peptic Ulcer Drugs Market Projected to Surge to US$59.2 Billion by 2033, Fueled by OTC Adoption and Phytotherapy Emergence: Report by Persistence Market Research
In 2022, the United States dominated the North American market, securing a substantial market share of approximately 85.3%. The prevalence of peptic ulcers is on the rise, primarily due to the increasing occurrence of H. pylori infections in developing nations
New York, Oct. 25, 2023 (GLOBE NEWSWIRE) — The global peptic ulcer drugs market size was USD 40.0 billion in 2022 and is projected to grow from USD 41.2 billion in 2023 to USD 59.2 billion in 2023 at a CAGR of 3.7% during the forecast period.
Peptic ulcer disease finds effective treatment through medications, with a recommendation to maintain the prescribed regimen despite potential short-term effects. Medication classes like antibiotics, proton pump inhibitors, H2-antagonists, and antacids are commonly employed for both treating and preventing peptic ulcers.
The market for peptic ulcer medications is experiencing rapid growth, with expectations of significant expansion in the years ahead. Factors contributing to this growth include the escalating prevalence of peptic ulcers, an aging population, and ongoing product innovations. Other catalysts encompass increased research and development endeavours, a robust product pipeline, and the growing adoption of triple treatments. Furthermore, the commitment of both corporate and governmental sectors, along with increased funding and investments, further accelerates the development of the peptic ulcer medication market.
The global upsurge in peptic ulcer disease prevalence has prompted major industry players to invest substantially in research and development. This commitment leads to the introduction of new drugs for peptic ulcer treatment, positively influencing market growth.
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|Market Revenue 2023||US$ 41.2 billion|
|Estimated Revenue 2023||US$ 59.2 billion|
|Growth Rate – CAGR||3.7%|
|No. of Pages||215 Pages|
|Market Segmentation||By Product Type, By Indication, By Distribution Channel, By Region|
|Regions Covered||North America, Latin America, Europe, Asia Pacific, Middle East & Africa|
|Companies Covered||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, GlaxoSmithKline plc.|
In 2022, the United States dominated the North American market, commanding an impressive 85.3% market share. This regional predominance can be attributed to the increasing prevalence of peptic ulcers within the United States. Notably, the market in the US features six proton pump inhibitors (PPIs) in the market, such as dexlansoprazole (Dexilant), omeprazole (Prilosec), lansoprazole (Prevacid), rabeprazole (Aciphex), pantoprazole (Protonix), esomeprazole (Nexium), and rabeprazole (Prevacid). While these medications offer choices, there are minimal medical distinctions among them.
Meanwhile, the German market captured approximately 4.1% of the global market share in 2022. The increased number of peptic ulcer patients and the escalating healthcare costs in Germany serve as significant drivers for market demand in the country.
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Peptic Ulcer Drugs Market Drivers 2023-2033
The Peptic Ulcer Drugs Market is poised for dynamic growth between 2023 and 2033, primarily driven by the following key drivers:
Rising Prevalence of Peptic Ulcers: The increasing incidence of peptic ulcer cases, attributed to factors like H. pylori infections, lifestyle changes, and stress, is expected to fuel the demand for peptic ulcer drugs.
Aging Population: As the global population continues to age, the likelihood of developing peptic ulcers and related complications rises. This demographic shift is anticipated to drive market growth.
Innovations in Drug Development: Ongoing research and development efforts are likely to yield new and improved drugs for peptic ulcer treatment. Innovations in drug formulations and delivery methods can enhance the efficacy and patient compliance of these medications.
Product Pipeline Advancements: The robust product pipeline of pharmaceutical companies, featuring novel drug candidates, promises to offer additional treatment options, expanding the peptic ulcer drug market.
Global Awareness: Growing awareness of peptic ulcer disease and its impact on overall health is prompting more individuals to seek medical treatment, further boosting market demand.
Key Questions Answered in the Report:
1. What is the current status of the Peptic Ulcer Drugs market?
The market is expected to experience a growth rate of 3.7% CAGR during the forecast period, spanning from 2022 to 2030.
2. Which geographic region had the most substantial market share within the Peptic Ulcer Drugs sector?
North America emerged as the dominant region in terms of market share.
3. Which segment takes the lead in the market based on drug type?
During the forecast period, the antibiotics segment is anticipated to claim the top position in this market by drug type.
4. What is the primary catalyst propelling the market’s growth?
The adoption of over-the-counter (OTC) drugs and the emergence of phytotherapy for peptic ulcers serve as the major driving forces behind the market’s expansion.
5. Who are the notable players actively participating in the market?
Key market players include 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 plc.
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The Peptic Ulcer Drugs Market, while poised for growth, faces several significant challenges that could impact its development between 2023 and 2031:
Antibiotic Resistance: The widespread use of antibiotics for peptic ulcer treatment, especially in the case of H. pylori-associated ulcers, has led to the emergence of antibiotic-resistant strains. This challenge necessitates the development of alternative treatments.
Gastrointestinal Side Effects: Many peptic ulcer drugs, such as proton pump inhibitors (PPIs), can lead to gastrointestinal side effects like Clostridium difficile infections, which pose additional health risks.
Limited Efficacy of Current Treatments: The existing drugs for peptic ulcers may not be equally effective for all patients, leading to variable treatment outcomes. Finding more universally effective treatments remains a challenge.
Chronic Nature of Peptic Ulcers: Peptic ulcers can be a chronic condition, requiring long-term or lifelong management. Managing the chronicity of the disease is a constant challenge for patients and healthcare providers.
Alternative Therapies and Herbal Remedies: The increasing popularity of alternative and herbal remedies poses a challenge, as some patients may opt for these treatments rather than conventional pharmaceuticals, impacting the market.
Peptic Ulcer Drugs Market Future Outlook
The future outlook for the Peptic Ulcer Drugs Market is characterized by both opportunities and challenges. While the market is projected to grow steadily between 2023 and 2031, several factors will shape its trajectory. Innovations in drug development and the introduction of more effective treatments, including those targeting antibiotic-resistant strains, offer promise. Additionally, the rising global awareness of peptic ulcer disease and its complications will encourage more individuals to seek medical treatment, further contributing to market growth.
To thrive in the evolving landscape, stakeholders in the Peptic Ulcer Drugs Market will need to invest in research and development, collaborate on innovative treatment options, and focus on patient education to enhance adherence to treatment regimens. Furthermore, global efforts to combat antibiotic resistance and regulatory hurdles will play a pivotal role in shaping the future of this market. Overall, the Peptic Ulcer Drugs Market presents an optimistic outlook, with opportunities for growth and advancements in the field of peptic ulcer treatment in the next decade.
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