U.S. Sucralfate Market Is Estimated To Witness High Growth Owing to Increasing Prevalence of Gastric Ulcers and Growing Geriatric Population
U.S. Sucralfate Market |
The U.S. sucralfate market is estimated to be valued
at US$ 296.2 million in 2017 and is expected to exhibit a CAGR of 3.1% over the
forecast period 2018–2026, as highlighted in a new report published by Coherent
Market Insights.
Market Overview:
Sucralfate is a medication used to treat and prevent gastric ulcers. It forms a
protective coating over the ulcers, allowing them to heal and preventing
further damage. Sucralfate is commonly prescribed to patients with gastric
ulcers caused by long-term use of nonsteroidal anti-inflammatory drugs (NSAIDs)
or Helicobacter pylori infection. The market for sucralfate in the U.S. is driven
by the increasing prevalence of gastric ulcers, especially among the geriatric
population. According to the American College of Gastroenterology, gastric
ulcers affect approximately 6 million Americans every year.
Market Dynamics:
1. Increasing Prevalence of Gastric Ulcers: The rising prevalence of gastric
ulcers, particularly among the older population, is one of the key drivers of
the sucralfate market. The geriatric population is more prone to gastric ulcers
due to factors such as increased use of NSAIDs and decreased secretion of
protective mucus in the stomach lining.
2. Growing Geriatric Population: The aging population in the U.S. is also
contributing to the growth of the sucralfate market. As people age, they become
more susceptible to gastric ulcers and require medications such as sucralfate
to manage and treat their conditions.
SWOT Analysis:
Strength:
1. Effective Treatment for Gastric Ulcers: Sucralfate has been proven to be an
effective treatment for gastric ulcers, offering a protective coating and
promoting healing.
2. Easy Availability: Sucralfate is widely available in the U.S., both as a
prescription medication and over the counter, making it easily accessible for
patients.
Weakness:
1. Limited Effectiveness for Other Conditions: Sucralfate is primarily used for
gastric ulcers and may not be as effective for other gastrointestinal
conditions.
2. Potential Side Effects: Like any medication, sucralfate may cause side
effects such as constipation or diarrhea in some individuals.
Opportunity:
1. Increasing Healthcare Expenditure: The rising healthcare expenditure in the
U.S. provides an opportunity for the sucralfate market to grow, as more
resources are allocated to the treatment and management of gastric ulcers.
2. Technological Advancements: Technological advancements in the field of
gastroenterology may lead to the development of more effective treatments for
gastric ulcers, which could impact the sucralfate market.
Threats:
1. Competition from Alternative Treatments: Sucralfate faces competition from
other medications and treatments for gastric ulcers, such as proton pump
inhibitors.
2. Adverse Effects of Long-Term Use: Long-term use of sucralfate may have
adverse effects on renal function, which could impact its usage and demand.
Key Takeaways:
- The U.S.
Sucralfate Market Demand is expected to witness high growth, exhibiting
a CAGR of 3.1% over the forecast period, due to the increasing prevalence of
gastric ulcers and the growing geriatric population.
- Regionally, the U.S. is expected to dominate the sucralfate market, thanks to
the advanced healthcare infrastructure and high healthcare expenditure in the
country.
- The key players operating in the U.S. sucralfate market include Teva
Pharmaceutical Industries Ltd., Allergan plc, Vertice Pharma LLC, and
Pharmaceutical Associates Inc. These companies are focusing on strategic
partnerships, product launches, and acquisitions to enhance their market
presence and gain a competitive edge.
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