U.S. Sucralfate Market, by Formulation (Tablet and Liquid Suspension), by Indication (Gastric Ulcers, Duodenal Ulcers, Gastro Esophageal Reflux Disease (GERD), and Others Indications), by Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), and by State (Illinois, Texas, New York, California, and Others) was valued at US$ 296.2 million in 2017, and is projected to exhibit a CAGR of 3.1% over the forecast period (2018–2026), as highlighted in a new report published by Coherent Market Insights.
Increasing product approval and product launch by market players is expected to augment the market growth
Key players in the market and government authorities are focused on updating the product information and creating awareness, in order to avoid any serious side effect of sucralfate and to address the critical unmet needs of patients. For instance, in August 2017, Teva Pharmaceutical Industries, Ltd. and Mylan, Inc., product Carafate received the U.S. Food and Drug Administration approval for change in the labelling information. The warning and precaution part of labelling was updated by the manufacturer which included the risk such as pulmonary and cerebral emboli owing to the inappropriate administration of Carafate intravenously.
Moreover, increasing number of prescriptions for different indications every year is expected to propel growth of the U.S. sucralfate market. For instance, according to the Medical Expenditure Panel Survey (MEPS) report of 2019, 2 million prescriptions of sucralfate were sold in the U.S. in 2016 for different indications such as stomach ulcers, gastro-esophageal reflux disease, and others.
Browse 22 Market Data Tables and 17 Figures spread through 129 Pages and in-depth TOC on ‘U.S. Sucralfate Market’- Forecast to 2026, by Formulation (Tablet and Liquid Suspension), by Indication (Gastric Ulcers, Duodenal Ulcers, Gastro Esophageal Reflux Disease, and Others Indications), by Distribution Channel (Hospital Pharmacy, Retail Pharmacy, and Online Pharmacy), and by State (Illinois, Texas, New York, California, and Others).
To know the latest trends and insights prevalent in the U.S. sucralfate market, click the link below:
https://www.coherentmarketinsights.com/market-insight/us-sucralfate-market-2975
Furthermore, increasing geriatric population and increasing incidences of gastric diseases in geriatric population in the U.S. is expected to boost growth of the market over the forecast period. For instance, according to the report on ‘Aging in United States’ in 2016, the number of Americans aged 65 years and above older are projected to double from 46 million in 2016 to over 98 million by 2060
Key Takeaways of the U.S. Sucralfate Market:
- The U.S. sucralfate market is expected to exhibit a CAGR of 3.1% over the forecast period, owing to increasing prevalence of peptic ulcers and duodenal in the U.S. For instance, according to the American Association for the Study of Liver Diseases report of 2018, in the U.S., peptic ulcer disease (PUD) affects around 4.5 million people, annually in the U.S.
- Among formulation, the tablet segment held a dominant position in the U.S. sucralfate market in 2018, owing to recommendation of tablet in various types of gastric ulcers. For instance, sucralfate tablets are indicated for the treatment of duodenal and non-malignant gastric ulcer. They are also indicated for prophylaxis of duodenal ulcer recurrence.
- Among distribution channel, the retail pharmacies segment held a dominant position in the U.S. sucralfate market in 2018, owing to increasing number of retail or independent pharmacies. For instance, according to PLOS Journal, August 2017, the number of independent pharmacies in the U.S. exhibited 3.8% growth from 22,737 (2007) to 23,596 (2015).
- Key players operating in the U.S. sucralfate market include Teva Pharmaceutical Industries Ltd., Allergan plc, Vertice Pharma LLC, and Pharmaceutical Associates Inc.
