Technology advances, unhealthy lifestyles propel global market
WELLESLEY, Mass., June 06, 2018 (GLOBE NEWSWIRE) -- Rising disposable income in developed countries, growing awareness of ulcer disease and advances such as big data, 3D printing and IoT are aiding growth in the global market for antiulcerant drugs. A new study by BCC Research forecasts this market to reach $37.4 billion by 2022 and examines it by drug type and geography.
Other major growth drivers include sedentary lifestyles and an aging population. The antiulcerant drugs market is fragmented, with a large number of pharmaceutical company players. By type, proton pump inhibitors accounted for the largest share of the market (60.2%) in 2017. From a total value of $33.0 billion in 2017, this market is projected to expand at a five-year compound annual growth rate (CAGR) of 2.5%, according to BCC Research’s new report, Antiulcerant Drugs: Global Markets to 2022.
The outlook is positive for the global antiulcerant drugs market. The United States is the largest region in terms of value, and there is significant growth potential for antiulcerant drugs in emerging countries. Market challenges include restraints such as unfavorable laws for drug patents and rising trade protectionism.
- By drug type, H2 receptor antagonists are projected to achieve the highest CAGR of 5.3%.
- North America is the largest regional segment (51.3% of the global market), followed by Asia Pacific and Western Europe.
- By region, Africa is expected to witness the fastest growth (at a 4.5% CAGR), followed by North America (with a 3.0% CAGR).
- By country, India and China are forecast to grow the fastest, at CAGRs of 5.1% and 4.2%, respectively.
“Busy, unhealthy lifestyles of a large proportion of the population in many developed and developing economies are driving the demand for antiulcerant drugs,” the report notes. “New technology (and its greater efficiencies) is also expected to be a continued driver of market growth during BCC Research’s forecast period. An area of particular development is likely to be physiology simulation modeling.”
Diabetic Foot Ulcers Fuel Emerging Markets
The increasing prevalence of diabetes (which causes diabetic foot ulcers) in both developed and developing countries is expected to drive the antiulcerant drugs market. The prevalence of diabetes is rising at a rapid rate in emerging markets. In 2017, China accounted for the second largest share of the global market. India has the largest number of diabetics in the world, with 50.8 million people suffering from diabetes.
Editors/reporters requesting analyst interviews should contact Eric Surber at email@example.com.
About BCC Research
BCC Research is a publisher of market research reports that provide organizations with intelligence to drive smart business decisions. By partnering with industry experts worldwide, BCC Research provides unbiased measurements and assessments of global markets covering major industrial and technology sectors, including emerging markets. For more information about BCC Research, please visit bccresearch.com. Follow BCC Research on Twitter at @BCCResearch.
CONTACT: Editors/reporters requesting analyst interviews should contact Eric Surber at firstname.lastname@example.org.