U.S. Sucralfate Market, by Formulation (Tablet and Liquid Suspension), by Indication (Gastric Ulcers, Duodenal Ulcers, Gastro Esophageal Reflux Disease (GERD), and Others Indications), by Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), and by State (Illinois, Texas, New York, California, and Others) was valued at US$ 296.2 million in 2017, and is projected to exhibit a CAGR of 3.1% over the forecast period (2018–2026), as highlighted in a new report published by Coherent Market Insights.
Increasing product approval and product launch by market players is expected to augment the market growth
Key players in the market and government authorities are focused on updating the product information and creating awareness, in order to avoid any serious side effect of sucralfate and to address the critical unmet needs of patients. For instance, in August 2017, Teva Pharmaceutical Industries, Ltd. and Mylan, Inc., product Carafate received the U.S. Food and Drug Administration approval for change in the labelling information. The warning and precaution part of labelling was updated by the manufacturer which included the risk such as pulmonary and cerebral emboli owing to the inappropriate administration of Carafate intravenously.
Moreover, increasing number of prescriptions for different indications every year is expected to propel growth of the U.S. sucralfate market. For instance, according to the Medical Expenditure Panel Survey (MEPS) report of 2019, 2 million prescriptions of sucralfate were sold in the U.S. in 2016 for different indications such as stomach ulcers, gastro-esophageal reflux disease, and others.
Browse 22 Market Data Tables and 17 Figures spread through 129 Pages and in-depth TOC on ‘U.S. Sucralfate Market’- Forecast to 2026, by Formulation (Tablet and Liquid Suspension), by Indication (Gastric Ulcers, Duodenal Ulcers, Gastro Esophageal Reflux Disease, and Others Indications), by Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), and by State (Illinois, Texas, New York, California, and Others).
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Furthermore, increasing geriatric population and increasing incidences of gastric diseases in geriatric population in the U.S. is expected to boost growth of the market over the forecast period. For instance, according to the report on ‘Aging in United States’ in 2016, the number of Americans aged 65 years and above older are projected to double from 46 million in 2016 to over 98 million by 2060
Key Takeaways of the U.S. Sucralfate Market: