Sucralfate is a mucosal protectant used for the treatment and prevention of stomach and duodenal ulcers. It works by forming a protective covering over the ulcer to protect it from further damage by stomach acid and pepsin. Sucralfate is available in tablet, suspension, and powder formulation. The suspension formulation is majorly prescribed for pediatric patients.
The U.S. Sucralfate Market is estimated to be valued at US$ 60.8 Mn in 2023 and is expected to exhibit a CAGR of 4.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The growth of the U.S. sucralfate market is attributed to increasing incidence of peptic ulcers in the U.S. population. According to the National Institute of Diabetes and Digestive and Kidney Diseases, around 4 million Americans are affected by peptic ulcers each year. Growing obese and geriatric population are more prone to develop ulcers, which is expected to drive the market growth over the forecast period. Another factor fueling the market growth is increasing health expenditure in the U.S. According to Centers for Medicare & Medicaid Services, U.S. health spending grew 4.6% in 2020, reaching US$ 4.1 trillion. Furthermore, approval and launch of generic versions of sucralfate tablets is expected to increase the accessibility and affordability of treatment, thereby supporting the market growth.
Segment Analysis
The U.S. sucralfate market is segmented into suspension and tablet. The suspension segment accounts for the largest market share of over 65% owing to high preference of suspension sucralfate products among patients and doctors. Suspension sucralfate provides quick relief from gastric ulcers as compared to tablets.
PEST Analysis
Political: Stable political environment in the U.S. is favorable for the sucralfate market growth. However, stringent regulations by the FDA for new drug approvals may hamper innovations.
Economic: Rising healthcare spending and increasing burden of gastric ulcers due to changing lifestyle and eating habits are driving the economic growth of the sucralfate market.
Social: Growing awareness about gastric ulcer treatment options and increasing focus on gastrointestinal health will contribute to the social development of the market.
Technological: Companies are investing in developing sucralfate formulations with added advantages like enhanced solubility and bioavailability which will aid technological development.
Key Takeaways
The U.S. Sucralfate Market Size was valued at US$ 60.8 Mn in 2023 and is expected to reach US$ 78.4 Mn by 2030, expanding at a CAGR of 4.2% during the forecast period. Wide acceptance and availability of sucralfate generic drugs compared to branded alternatives are supporting the market growth.
Regional analysis
The Western U.S. region holds the largest share in the U.S. sucralfate market owing to high prevalence of gastric disorders in states like California and high healthcare expenditure. Factors like sedentary lifestyle and consumption of spicy food are attributed to high incidence of gastric ulcers in the region.
Key players
Key players operating in the U.S. sucralfate market are Sanofi, Teva Pharmaceutical Industries, Taro Pharmaceuticals, Mylan N.V., and Perrigo Company PLC. Sanofi enjoys the leading market position due to its broad sucralfate product portfolio and strong distribution network across the country.