Market Highlights
The gastritis treatment market is expected to exhibit a robust growth rate during the forecast period. The market for gastritis treatment is expanding worldwide due to drivers such as increased incidence of acute and chronic gastritis, advances in the area of medical technologies, increasing fast food chains worldwide, massive adoption of sedentary lifestyle and advancement in endoscopy devices that increased the accuracy of diagnosis. Moreover, chronic gastritis patients, rely on acidity reducing medicines for a lifetime, thus fueling the market demand which in turn would boost up the market growth. However, unaffordability and lack of advanced medical device technology in middle-income countries are likely to hamper the market growth.
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Regional Analysis
The Americas is going to account for the largest share for gastritis treatment market. Drivers such as the widespread of fast food chains in this region along with increasing sedentary life culture which in turn contributes to increasing patient pool of gastritis and rising geriatric population are likely to enhance the growth of gastritis treatment market. Moreover, rising alcohol abuse, the presence of prominent key players is likely to spur the market growth. For instance, According to a published survey, approximately 1 in 100 is a victim of gastritis in the US. Thus, this increasing patient pool will enhance the market growth during the forecasted period. Additionally, factors such as increasing government initiatives and funding for research, development in advanced medical treatment options, and availability of favorable reimbursement policies are likely to propel the growth of gastritis treatment market in the American region. Furthermore, according to CMS (Centers for Medicare and Medicaid Services) the US health care spending increased 4.3 percent to reach USD 3.3 trillion per person in 2016. Thus, the increasing per capita income of individuals, as well as rising healthcare spending, will aid the upmarket growth of the Americas.
Europe is the second market leader and holds a healthy share in the global gastritis treatment market. The European market is expected to exhibit a sturdy growth rate during the forecast period owing to the availability of advanced treatment facilities, established healthcare infrastructure along with the presence of flourishing medical device market which helps in efficient and accurate diagnosis. Furthermore, due to the increasing number of lactose-intolerant issues, vulnerability to falling prey of gastritis is more likely to lead to an increasing number of gastritis sufferers. Thus, fueling the market growth during the forecast period.
Asia-Pacific is expected to be the fastest emerging market owing to increasing government initiatives for healthcare reform, increasing adaption of a sedentary lifestyle, and increasing prevalence of gastritis. Moreover, the prevalence of multifocal atrophic gastritis and gastric adenocarcinomas is high in these regions. Furthermore, the presence of renowned domestic pharmaceutical players, as well as the increasing healthcare spending per capita, is going to accelerate the market growth during the forecast period.
The Middle East and Africa is expected to show the least growth in the market due to some major factors such as lack of awareness, limited access and availability of treatment facilities. In the Middle East, the United Arab Emirates is the largest market share owing to the development of the healthcare industry, increasing occurrence of gastritis and sound economic status of inhabitants.
Segmentation
The global gastritis treatment market is segmented on the basis of diagnosis, treatment type, drug distribution channel, and end-users.
Considering the diagnosis, the market is segmented into blood test, endoscopy, x-ray of the upper digestive system and others.
By treatment type, the market is segmented into acid-blocking medicines, antibiotics, antacids, and histamine blockers.
With reference to the drug distribution channel, the market is segmented into retail pharmacy, online pharmacy, and hospital pharmacy.
On account of end-users, the market is segmented into hospitals and clinics and others.
Based on region the market is segmented into the Americas, Europe, Asia-Pacific, and Middle East and Africa. Americas region is segmented into North America and South America. Similarly, Europe is segmented into Western Europe and Eastern Europe.
Key Players
Market Research Future (MRFR) recognizes the following companies as the key players in the global gastritis treatment market. Some of the players are Abbott Laboratories, AstraZeneca PLC, Novartis AG, Microbiotix, Inc, Dr. Reddy’s Laboratories, Lupin Ltd, Perrigo Pharmaceutical, Cipla Inc., Pfizer Inc., and SUN Pharmaceuticals Industries limited.
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