The Gastrointestinal conditions such as gastritis, gastric ulcers, and duodenal ulcers or gastro esophageal reflux disease (GERD) are mentioned as peptic ulcers. Drugs utilized to treat peptic ulcers comprise drugs that deduction the secretion of gastric ulcers, such as antagonists of the PPI and H2 receptors and acid neutralization agents likewise antacids and antibiotics against H. Pylori. Such medications, however, are also utilized in conjunction for efficacious treatment.
According to the report analysis, ‘COVID-19 Impact on Global Peptic Ulcer Drugs Market by Disease Indication (Gastric Ulcers, Duodenal Ulcers, and Esophageal Ulcers); By Application (Hospital Pharmacies, Drug Stores, Retail Stores and Online Sales) and Region –Analysis of Market Size, Share and Trends for 2014 – 2019 and Forecasts to 2030’ states that worldwide Peptic Ulcer Drugs Market size was accounted at USD 4.9 billion during 2019 and is projected to reach USD 6.8 billion by 2030, accounting a CAGR of 3.17 % from 2020 to 2030. The proficient growth in the prevalence of peptic ulcers, growing the implementation of peptic ulcer drugs over surgery, interesting R&D through government policies, growing the number of generic producers of peptic ulcer drugs, enhancements in disease management, etc., are aspects driving the growth of the worldwide peptic ulcer market. Also, aspects such as the augmented prevalence of stress-induced ulcers owing to transforming the lifestyle and diet augmented the smoking rates, and progressive the geriatric populace is projected to facilitate the expansion of the worldwide market for peptic ulcer drugs.
Although, the Global pandemic COVID-19 has become worldwide stress, not just for human lives, but also for industries around the dissimilar industry verticals. The COVID-19 syndromes have infected numerous million individuals globally, with an augmenting the number of active cases daily, the duration of the pandemic is still problematic to project. Owing to the ongoing COVID-19 pandemic-an acute respiratory distress syndrome progressed by the novel coronavirus-the most unparalleled organizational and economic situations have increased. Also, a substantial amount of time is required to establish and market successful treatment choices for this new COVID-19 pathogen. During the coming quarters of 2020 and 2021, these amalgamated difficulties of infection transmission and treatment are projected to delay the diagnosis and cure of GI disease. Decreased physician and hospital visits owing to prioritization of COVID-19 care for non-indispensable health problems would limit the market development. Owing to the availability of COVID-19 vaccines, the market for peptic ulcer medications is projected to rebound to pre-pandemic market requirements during 2021. This will demonstrate the COVID-19 pandemic in terms of recovering improved and emerging economies. Also, local governments arrange healthcare services to meet the complications of COVID-19, which is also predicted to slow the pace of the requirement for peptic ulcer medications during the short term.
Not only has this, but worldwide market share of peptic ulcer medications has also been propelled by North America, and this trend is projected to continue over the review period. Augmented usage of non-steroidal anti-inflammatory drugs (NSAIDs) such as aspirin and augmented the awareness of peptic ulcer treatment options are aspects that are projected to drive the growth of the North American market for peptic ulcer drugs. The second-largest share of the requirement for peptic ulcer drugs in Europe is majorly owing to the simple obtainability of effective treatment choices for peptic ulcers in the country. Therefore, in the near years, it is predicted that the market of peptic ulcer drugs will augment around the globe more progressively over the upcoming years.
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Ankur Gupta, Head Marketing & Communications