Gastroprotective Drugs Market to Hit US$ 5.60 Billion by 2031

Newark, New Castle, USA, May 29, 2023 (GLOBE NEWSWIRE) -- The market analysis of the global gastroprotective drugs market was conducted by Growth Plus Reports in 2022 and was valued at US$ 4.53 billion . The market is expected to hit a revenue CAGR of 2.38% to reach US$ 5.60 billion by 2031 .

Analysis of the global market for gastroprotective drugs indicates that the revenue share is likely to rise significantly. The management of gastrointestinal illnesses, such as inflammatory bowel diseases, peptic ulcers, and acid reflux, requires the use of gastroprotective medications.

Key Takeaways:

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Gastroprotective Drugs Market Scope

Recent Development in the Gastroprotective Drugs Market:

Competitive Landscape

A list of the companies operating in the global market for gastroprotective drugs includes:

Market Drivers and Restraints:

The global gastroprotective drugs market revenue is driven by gastrointestinal disorders such as reflux oesophagitis, gastritis, and duodenal and gastric ulcers. Furthermore, the high consumption of nonsteroidal anti-inflammatory drugs is causing gastrointestinal disorders and contributing to the market revenue share.

Market Segmentation:

Segmentation By Drug Class

Based on the drug class, the proton pump inhibitors segment dominates the global gastroprotective drugs market with a 30% revenue share. This large share of revenue is attributed to the increased prevalence of these illnesses, and the rising use of proton pump inhibitors as first-line treatments will fuel the development of this market over the coming years.

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Regional Growth Dynamics

Based on the region, North America, with the largest revenue share, dominates the global gastroprotective drugs market. This sizable share of revenue share is attributed to the high prevalence of gastrointestinal disease. There are currently 60-70 million Americans who are experiencing gastrointestinal (GI) diseases driving regional revenue share.

Report Coverage

Growth Plus Reports carried out extensive market research on the gastroprotective drugs market globally. We examined the fundamental market characteristics, significant investment opportunities, regional growth patterns, ten-year revenue estimates, competing market players, and mergers and acquisitions.

Table of Content

GASTROPROTECTIVE DRUGS MARKET TOC

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