Gastroprotective Drugs Market
Number of pages: 100 | Report Format: PDF | Published date: May 19, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023 to 2031
|
Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 4.53 billion |
|
Revenue Forecast in 2031 |
US$ 5.60 billion |
|
CAGR |
2.38% |
|
Base Year for Estimation |
2022 |
|
Forecast Period |
2023 to 2031 |
|
Historical Year |
2021 |
|
Segments Covered |
Drug class, Application, and Region |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global gastroprotective drugs market was valued at US$ 4.53 billion in 2022 and is expected to register a revenue CAGR of 2.38% to reach US$ 5.60 billion by 2031.
Gastroprotective Drugs Market Fundamentals
Gastroprotective drugs are crucial in treating and managing gastrointestinal disorders, from acid reflux and peptic ulcers to inflammatory bowel diseases. These medicines are formulated to relieve symptoms, reduce inflammation, aid in healing, and restore normal function in the digestive system. As gastrointestinal disorders are becoming more prevalent worldwide, the need for effective and innovative pharmaceutical solutions has increased. In recent years, there have been significant advancements in gastroprotective drugs due to scientific research and technological breakthroughs. Proton pump inhibitors (PPIs), including omeprazole and esomeprazole, are the most widely used medications for treating conditions like gastroesophageal reflux disease (GERD) and gastric ulcers because of their potent acid suppression properties. Moreover, the development of targeted therapies, such as biologics like anti-TNF agents, has revolutionized the treatment of inflammatory bowel diseases such as Crohn's disease and ulcerative colitis. These drugs offer more precise and personalized approaches, reducing side effects and improving patient outcomes.
The global gastroprotective drugs industry analysis report comprehensively analyzes the market, with the factors that either aid or impede the market growth, such as its drivers, restraints, and opportunities. The research provides insight into the companies that operate in the gastroprotective drugs market and their efforts to position themselves as key players through expansion strategies and innovations. It also highlights recent developments that contribute to the gastroprotective drugs market growth. The research also analyzes the impact of the COVID-19 pandemic.
This research is valuable for businesses seeking insights into the market, customers, and competition. The research provides special insights into the segmentation, regions, market size & projection, revenue CAGRs, and other important information that may help clients make the right decisions. The report assembles data from market players and professionals across the industrial value chain. The study also incorporates qualitative and quantitative assessments from industry professionals. Secondary research, surveys and interviews, and statistical modeling are all used in our research to estimate market size and projection. Our reports deliver the most reliable market data because of our specialized research methods.
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Gastroprotective Drugs Market Dynamics
The increasing prevalence of gastric disorders such as gastric and duodenal ulceration, gastritis, and reflux oesophagitis is the most prominent factor driving the global gastroprotective drugs market. According to the National Center for Biotechnology Information in 2019 estimated that epidemiologic research shows that gastritis is very common. It accounts for around 1.8-2.1 million visits to doctor's offices in the United States each year. Moreover, the demand for gastroprotective drugs is increasing in patients who regularly use non-steroidal anti-inflammatory drugs (NSAID). People who regularly consume non-steroidal anti-inflammatory drugs are more prone to develop gastrointestinal disorders such as perforations, peptic ulcers, and upper gastrointestinal hemorrhages. The National Center for Biotechnology Information states that 20-30% of people who regularly take non-steroidal anti-inflammatory drugs develop ulcers.
Gastroprotective Drugs Market Ecosystem
Gastroprotective Drugs Market, by Drug Class
Gastroprotective Drugs Market, by Application
Gastroprotective Drugs Market by Drug Class
[2525]
The proton pump inhibitors segment accounted for 30% of the gastroprotective drugs market. This is majorly attributed to their effectiveness in reducing acid secretion in the stomach, which helps treat acid-related disorders such as gastroesophageal reflux disease (GERD) and peptic ulcers. Additionally, the growing prevalence of these disorders and the increasing adoption of proton pump inhibitors as a first-line treatment option are expected to drive the growth of this segment in the forecast years. Moreover, market players are increasingly focusing on launching these drugs in developing countries. For instance, in April 2022, Daewon Pharmaceutical introduced Escorten, one of Korea's earliest proton-pump inhibitor medications.
The market segmentation sections provide the gastroprotective drugs market outlook regarding the demarcation of different consumer groups. Market segmentation is the split of an industry into subgroups depending on characteristics such as product, technology, services, end user, and other factors. Market segmentation data helps organizations understand the preferences and distinctive demands of different customer groups and implement targeted marketing strategies. This data additionally helps in identifying potential gastroprotective drug market demand opportunities.
Gastroprotective Drugs Market by Region
The North America gastroprotective drugs market is driven by the rising prevalence of gastrointestinal disorders and the growing demand for effective treatment options. The increasing geriatric population and the adoption of sedentary lifestyles are also contributing to the growth of the market in the region. Additionally, technological advancements in drug delivery systems and increasing investments in research and development activities are expected to further boost market growth in North America. According to the American Gastroenterological Association, there are currently 60-70 million Americans who are experiencing gastrointestinal (GI) diseases that can significantly disrupt their daily lives.
The gastroprotective drugs market in Asia Pacific is likely to grow at revenue CAGR of 2.81%. Factors such as the increasing prevalence of gastrointestinal disorders, rising geriatric population, growing awareness about gastrointestinal health, and the availability of advanced treatment options are boosting market growth in the region. Additionally, the increasing healthcare expenditure and favorable government initiatives are also expected to contribute to the growth of the gastroprotective drugs market in the region.
Based on the regions, the global gastroprotective drugs market is segmented into:
The industry's regional segmentation provides insights into geographic pockets in terms of gastroprotective drugs industry trends, market size, share, and growth rate. This information helps organizations assess potential growth opportunities in new regional markets, understand competitive threats, and develop localized sales and expansion strategies. This section also offers deeper insights into the regional and country-level gastroprotective drugs market overview.
Key Components of the Report
Gastroprotective Drugs Market Competitive Landscape
The market competitive landscape analysis is performed by gathering and evaluating data about the key competitors, industry trends, and market dynamics. It involves collecting and analyzing data on factors such as products, pricing, geographic reach, customer demographics, marketing tactics, and recent developments. Competitive landscape analysis can help organizations identify present or prospective opportunities and risks in the market.
Gastroprotective Drugs Market Strategic Developments
Reasons To Buy This Report
Key Strengths of Our Report
Target Audience to Benefit from this Report.
Gastroprotective drugs are medications that help protect the lining of the stomach and intestines from damage caused by various factors such as acid reflux, ulcers, and inflammation.
The global gastroprotective drugs market was valued at US$ 4.53 billion in 2022.
Asia Pacific will have the largest gastroprotective drugs market size during the forecast period from 2023 to 2031.
The global gastroprotective drugs market is expected to register a revenue CAGR of 2.38% during the forecast period from 2023 to 2031.
The resultant market size of the gastroprotective drugs market in 2031 will be US$ 5.60 billion.
The increasing prevalence of gastrointestinal disorders and the growing demand for effective treatments. Additionally, advancements in drug development technologies are the most prominent gastroprotective drugs.
The growth opportunities in the global gastroprotective drugs market are the growing demand for over-the-counter (OTC) drugs. Developing novel drug formulations is also expected to contribute to market growth.
The high cost of research and development, stringent regulatory requirements, and the emergence of alternative therapies are key challenges that hamper the growth of the global gastroprotective drugs market.
Product innovation, strategic partnerships and collaborations, mergers and acquisitions, and expanding their geographical presence are major strategies key market players adopt.
*Insights on financial performance are subject to the availability of information in the public domain
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