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 for the treatment of gastric ulcers. It forms a protective layer over the ulcer, allowing it to heal and preventing further damage. Sucralfate is available in tablet and suspension forms. The suspension form is particularly popular among patients due to its ease of administration and effectiveness.
Market Dynamics:
The U.S. sucralfate market is driven by two main factors: the increasing prevalence of gastric ulcers and the rising demand for sucralfate suspension. Gastric ulcers are a common condition, affecting millions of people in the U.S. alone. The growing cases of gastric ulcers require effective treatment options, thereby driving the demand for sucralfate.
Furthermore, the rise in the demand for sucralfate suspension can be attributed to its advantages over tablets. The suspension form is easier to swallow, especially for children and elderly patients. It also provides better coverage and adherence at the site of ulceration, leading to improved healing.
Segment Analysis:
Within the U.S. sucralfate market, the tablet segment dominates the market. Tablets are the traditional form of sucralfate and have been widely used for many years. However, the suspension segment is expected to witness significant growth in the coming years, driven by the increasing preference for this form among patients.
PEST Analysis:
– Political: The political stability in the U.S. ensures a favorable regulatory environment for the sucralfate market.
– Economic: The growing healthcare expenditure in the U.S. and the availability of medical insurance coverage contribute to the market growth.
– Social: The increasing prevalence of gastric ulcers and the rising awareness about sucralfate among the general population drive market demand.
– Technological: Advancements in drug formulation techniques have led to the development of improved sucralfate suspension formulations, enhancing market growth.
Key Takeaways:
Paragraph 1: The U.S. Sucralfate Market Demand is expected to witness high growth, exhibiting a CAGR of 3.1% over the forecast period. The increasing prevalence of gastric ulcers and the rising demand for sucralfate suspension are the key drivers of market growth.
Paragraph 2: The U.S. is the fastest-growing and dominating region in the sucralfate market. The high prevalence of gastric ulcers and the advanced healthcare infrastructure contribute to the region’s growth.
Paragraph 3: Key players operating in the U.S. sucralfate market include Teva Pharmaceutical Industries Ltd., Allergan plc, Vertice Pharma LLC, and Pharmaceutical Associates Inc. These key players focus on product development, strategic collaborations, and mergers and acquisitions to strengthen their market position.
In conclusion, the U.S. sucralfate market is expected to experience significant growth in the coming years, driven by the increasing prevalence of gastric ulcers and the rising demand for sucralfate suspension. With advancements in drug formulation techniques and the presence of key players, the market is poised for continued expansion.
