iCrowd Newswire – Jul 23, 2020
Gastritis Market size is $146m in 2019, growing at a CAGR of 3.67% during the forecast period 2020-2025. Gastritis is the inflammation of gastric mucosa, which is a membrane lining that covers the surface of internal organs and body cavities. The production of mucus, acid and enzymes reduces when the inflammation of the stomach lining takes place. Stomach infection, pepotic uncler, abdominal infection, Irritable bowel syndrome(ibs), diarrhea or constipation types of gastritis conditions and its symptoms are upper abdominal discomfort, vomiting, nausea and others. Gastritis is caused by the bacteria helicobacter pylori or by the use of non-steroidal anti-inflammatory drugs, irritation due to excessive alcohol use, chronic vomiting, stress or the use of certain medications such as aspirin or other anti-inflammatory drugs.
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By Type – Segment Analysis
In 2019, Acute Gastritis segment dominated the Gastritis Market in terms of revenue is estimated to grow at a CAGR of 3.1%. Acute Gastritis is caused due the overuse of Non-Steroidal Anti-Inflammatory (NSAID) drugs like ibuprofen, sodium naproxen, and diclofenac including complications such as hemorrhages and erosion. It is diagnosed by antacids like famotidine (Pepcid) and proton pump inhibitors that helps in the suppression excessive acid production abetting towards the market’s growth.
Geography – Segment Analysis
In 2019, the North America region dominated Gastritis Market in terms of revenue with a market share of 39% owing towards the presence of established in this region. This growth can be attributed towards the increasing research & development initiatives and government support for the improvement of the healthcare sector. The increasing awareness about the health and availability of new treatment methods drives the market in this region is key factors in the growth of the Gastritis market. Europe is estimated to record the fastest growth rate during the forecast period 2020-2025.
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Drivers – Gastritis Market
- Increasing In The Prevalence of Geriatric Population
The increasing number of lactose-intolerant issues, NSAID or alcohol use vulnerability to falling prey of gastritis is more likely to lead to an increasing number of gastritis cases. The rise in the population leading towards increased risk of heart attack. Government focusing on the drug development for the reduction of diseases is the other major factor driving growth. Increasing healthcare expenditure by various countries is also contributing to the market growth.
Challenges – Gastritis Market
- Side Effects
Side-effects such as depression, sleep disorders, and incontinence hampering the market’s growth. Antibiotic resistance and lack of patient compliance are main factors restraining the market’s growth.
- In August 2016, Teva Pharmaceuticals acquired Allergan’s generics business. This acquisition helped the company in delivering the highest-quality medicines at the most competitive prices, unlocking value to patients, healthcare systems and investors around the world.
- In January 2019, Takeda Pharmaceutical Company Ltd acquired Shire plc. This acquisition helped the company in accelerating transformation journey to deliver highly-innovative medicines to patients around the world with expanded scale and geographical footprint.
- Increasing awareness amongst people for early treatment of disease is set to propel the growth of the market.
- Increase in the unhealthy habits of people is the driving factors for the growth of Gastritis market.
- Increased geriatric population along with gastric carcinoma and increased risk of heart attack in elderly aiding growth towards the market.
- Europe region is estimated to record the fastest growth rate during the forecast period 2020-2025.
Gastritis Industry Outlook
Product Launches was the key strategy of the players in the Gastritis Industry. Gastritis top 10 companies include Takeda Pharmaceutical Company Ltd, PERNIX Therapeutics, Perrigo Pharmaceutical, Teva Pharmaceutical, Medtronic PLC, Pfizer Inc., Novartis AG, Qiagen NV, AstraZeneca plc, and Thermo Fisher Scientific Inc.
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