The global “Peptic Ulcer Drugs” Market is projected to showcase exponential growth by reaching USD 5.13 billion by 2027 while exhibiting a CAGR of 2.4% between 2020 and 2027. This is attributable to the increasing prevalence of peptic ulcer disease and the growing demand for effective peptic ulcer drugs across the globe. Fortune Business Insights, in its latest report, titled, “Peptic Ulcer Drugs Market Size, Share & COVID-19 Imapct Analysis, By Drugs Type (Proton Pump Inhibitor (PPI), H2 Antagonists, Antibiotics, and Others), By Ulcer Type (Gastric Ulcer and Duodenal Ulcer), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and Regional Forecast, 2020-2027.”, mentions that the market was valued at USD 4.25 billion in 2019 and is likely to gain momentum in the forthcoming years.
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COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets. The outbreak of COVID-19 has brought effects on many aspects, like flight cancellations travel bans and quarantines restaurants closed all indoor events restricted over forty countries state of emergency declared massive slowing of the IT Spending market volatility falling business confidence, growing panic among the population, and uncertainty about future.
Out research methodology is robust and includes data triangulation based on bottom-up and top-down approaches. We validated the approximate market number with the help of primary research. Secondary research was conducted to find out detailed information about mergers & acquisitions, collaborations, joint ventures, and agreements. At the same time, we have derived significant information about the market dynamics associated with growth drivers, trends, and obstacles.
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List of the Companies Operating in the Global Market
- AstraZeneca (Cambridge, United Kingdom)
- Novartis AG (Basel, Switzerland)
- Pfizer Inc. (New York, United States)
- GlaxoSmithKline plc. (Brentford, United Kingdom)
- Takeda Pharmaceutical Company Limited. (Tokyo, Japan)
- Mylan Pharmaceuticals Inc. (Canonsburg, Pennsylvania, United States)
- Abbott (Illinois, United States)
- ZydusCadila (Gujrat, India)
- Other Players
Soaring Demand for Peptic Ulcer Drugs In spite of COVID-19 Pandemic
The COVID-19 pandemic has led to the halt of several industrial processes causing unprecedented economic loss. However, pharmaceutical companies are thriving in these difficult times owing to the increasing demand for medication drugs across the globe. Likewise, the demand for these ulcer drugs is experiencing considerable growth as major pharmaceutical companies are increasing their focus on R&D activities to develop new drugs and cater to the demand for the OTC drugs across several stores. The market is, therefore, expected to showcase positive growth during the forecast period.