Global Peptic Ulcer Drugs Market, by Product Type (Proton Pump Inhibitors, Potassium-Competitive Acid Blocker (P-CAB), Antacids, H2- Antagonist, Antibiotics, Ulcer Protective) by Disease Indication (Gastitis, Gastric Ulcer, Duodenal Ulcer, Gastroesophageal Reflux Disease (GERD)), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 34.34 Billion in 2023 and is expected to exhibit a CAGR of 4.1% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
An increase in the number of geriatric population is expected to drive the growth of the market over the forecast period. For instance, data published in October 2022, by the World Health Organization (WHO), stated that by 2030, 1 in 6 people in the world will be aged 60 years or over. At this time the share of the population aged 60 years and over will increase from 1 billion in 2020 to 1.4 billion. By 2050, the world’s population of people aged 60 years and older will double (2.1 billion). The number of people aged 80 years or older is expected to triple between 2020 and 2050 to reach 426 million.
Global Peptic Ulcer Drugs Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdowns in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
Furthermore, healthcare providers were facing challenges in terms of additional manpower, equipment, consumables, and other resources, which were required to ensure safety in hospitals and provide treatment to patients with other diseases. This has impacted the overall healthcare market negatively.
During the COVID-19 pandemic, the peptic ulcer drugs market was significantly impacted due to an increase in the demand for treatment options for eye-related diseases and a decrease in the supply of drugs to treat ocular pain due to restrictions imposed by the government during COVID-19.
Global Peptic Ulcer Drugs Market: Key Developments
In March 2022, Pfizer Inc., a pharmaceutical company, announced the acquisition of Arena Pharmaceuticals, a clinical stage company developing innovative potential therapies for the treatment of several immuno-inflammatory diseases. Arena Pharmaceuticals offers Pfizer a variety of exciting, early-stage pharmaceutical options in the fields of cardiology, dermatology, and gastrointestinal.
In November 2022, Sandoz, a pharmaceutical company, announced investment in key manufacturing facility in Austria, to support increased global demand for essential antibiotics.
In May 2020, Famotidine, a drug frequently used to treat peptic ulcers, is being investigated by Northwell Health in New York City as a potential treatment for the coronavirus.
Browse 25 Market Data Tables and 27 Figures spread through 156 Pages and in-depth TOC on “Global Peptic Ulcer Drugs Market”- Forecast to 2030, by Product Type (Proton Pump Inhibitors, Potassium-Competitive Acid Blocker (P-CAB), Antacids, H2- Antagonist, Antibiotics, Ulcer Protective) by Disease Indication (Gastitis, Gastric Ulcer, Duodenal Ulcer, Gastroesophageal Reflux Disease (GERD)), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa
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Key Takeaways of the Global Peptic Ulcer Drugs Market:
- The global peptic ulcer drugs is expected to exhibit a CAGR of 4.1% during the forecast period due to an increase in research and development activities by the key players in the market. For instance, in August 2022, RenJi Hospital based in China, in collaboration with Zhejiang Cancer Hospital, initiated a clinical study titled ‘The Incidences Of Hypoxia And Severe Hypoxia During Gastroenterological Endoscope Procedures Sedated With Ciprofol Compared With Propofol In Overweight Or Obesity Adults Patients, A Multicenter, Randomized, Controlled Trial.’ The study is in phase 4. The study is expected to get completed on June 30, 2023.
- Among product type, the proton pump inhibitors segment is estimated to hold a dominant position in the global peptic ulcer drugs over the forecast period, due to increase in the research and development activities by the key players in the market. For instance, on April 5, 2023, Carlos Roberto Simons-Linares, an advanced endoscopist and Director of Bariatric Endoscopy at Cleveland Clinic, initiated a clinical study titled “OPEN Versus InTact Capsule Proton Pump Inhibitors for the Treatment of Marginal Ulcers After Bariatric Surgery”. The study is in phase 4. The study is estimated to get completed on December 23, 2024.
- Major players operating in the global peptic ulcer drugs market include Daewoong Pharmaceutical Co., Ltd, Takeda Pharmaceutical Co., Ltd., Pfizer Inc., AstraZeneca plc., RedHill Biopharma, Cadila Healthcare Ltd., Novitium Pharma LLC., Boehringer Ingelheim GmbH, Eisai Co. Ltd., Yuhan Corporation, GlaxoSmithKline plc.