Global Market Study on Peptic Ulcer Drugs: North America to Lead in Global Market During Forecast Period 2016 - 2022, Driven by Increasing NSAID Consumption
New York, NY -- (SBWIRE) -- 03/14/2018 -- The latest market report published by Persistence Market Research is titled 'Global Market Study on Peptic Ulcer Drugs: North America to Lead in Global Market During Forecast Period 2016 - 2022, Driven by Increasing NSAID Consumption '. According to this report, the global peptic ulcer drugs market will expand at CAGR of 2.8% during the forecast period 2016-2022.
The market is segmented on the basis of product type, disease indication, distribution channel and region. By product type, the global peptic ulcer drugs market has been segmented into proton pump inhibitor (PPI), potassium-competitive acid blockers (P-CAB), antacids, H2-antagonists, antibiotics, and ulcer protective. Proton pump inhibitor segment was the largest revenue generating segment, contributing 69.1% share to the overall revenue of the global peptic ulcer drugs market in 2014. Revenue from the potassium-competitive acid blockers segment is expected to expand rapidly at a CAGR of 4.5% owing to introduction of new P-CAB drugs in the market. Based on indication, the global market for peptic ulcer drug is segmented as gastritis, gastric ulcers, duodenal ulcers, and gastroesophageal reflux disease. Gastric ulcer segment is anticipated to expand at highest CAGR of 3.0% over the forecast period.
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On the basis of distribution channels, the global peptic ulcer drugs market has been segmented as hospital pharmacies, private clinics, drug stores, retail pharmacies, and e-Commerce. Among these, hospital pharmacies segment led the global market for peptic ulcer drugs in 2014 and is expected to remain the leading segment. Increasing hospitalization rates due to ulcer complications is expected to be the primary factor fuelling revenue growth of the hospital distribution channel segment over the forecast period.
Geographically, peptic ulcer drugs market is segmented into five key regions: North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Surge in consumption of NSAIDs due to growing prevalence of inflammatory diseases is the major factor driving growth of the global peptic ulcer drugs market. Other trends driving growth include increasing adoption of peptic ulcer drugs over surgery, changes in disease management, prevalence of stress ulcers due to higher smoking rates, availability of affordable therapy due to improvement in service sector, increasing awareness toward disease management through government campaigns etc. Chronic side effects associated with long term use of peptic ulcer drugs is the major factor hampering the growth of global peptic ulcer drugs market.
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This report assesses trends driving each segment and offers analysis and insights about the potential of peptic ulcer drugs in specific regions. North America is expected to dominate the market, with a maximum share by the end of 2015. North America and Europe collectively accounted for 67% share of global peptic ulcer drugs market in 2014. Asia Pacific is estimated to be the fastest growing market, registering a CAGR of 3.5% during the forecast period.
The report begins with overview of peptic ulcer drugs market in terms of value. This section covers optimistic, likely and conservative scenario in peptic ulcer drugs market. Overview of product launches in the peptic ulcer drugs market explains the evolution of treatment options over time. This report offers analysis of drivers, restraints, key trends in the region and global market, and potential opportunities to provide a client with clear insights to make better and informed decisions.
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Key players operating in this market are 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 Pharmaceuticals Ltd. These companies are primarily focusing on strategies such as co-promotions and co-marketing of their brands to penetrate the fastest growing emerging markets.