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Market Overview:
Gastritis refers to inflammation of the stomach lining which can be caused due to infection by bacteria like Helicobacter pylori, due to consumption of non-steroidal anti-inflammatory drugs (NSAIDs) like aspirin and ibuprofen or alcohol consumption. Common symptoms include upset stomach, abdominal pain, nausea and vomiting. Treatment options include antacids, H2 blockers or proton pump inhibitors to reduce stomach acid levels, antibiotics to treat H. pylori infection and lifestyle changes like maintaining healthy diet. Gastritis is a prevalent problem worldwide affecting people of all ages.
The global Gastritis Treatment Market is estimated to be valued at US$ 131.76 Bn in 2023 and is expected to exhibit a CAGR of 6.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the Gastritis Treatment Market is emerging digital therapeutics. Digital therapeutics are software or app-based treatment options used as an adjunct or replacement for drug therapies for various medical conditions. For gastritis treatment, digital apps use cognitive behavioral techniques to help manage stress and lifestyle factors that can exacerbate symptoms. They also provide reminders for medication intake and real-time symptom tracking. This allows for remote monitoring and early intervention. Growing acceptance of virtual care models post-COVID and preference for affordable non-drug options is driving investments in development of more such digital therapeutics for gastritis.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the Gastritis Treatment market is moderate. High R&D costs and regulatory barriers pose significant entry barriers.
Bargaining power of buyers: The bargaining power of buyers in the Gastritis Treatment market is high. The presence of many suppliers increases competition which results in lower prices for customers.
Bargaining power of suppliers: The bargaining power of suppliers in the Gastritis Treatment market is moderate. The presence of many pharmaceutical companies supplying Gastritis drugs limits the power of any individual supplier.
Threat of new substitutes: The threat of substitutes in the Gastritis Treatment market is low. There are limited treatment options available for chronic gastritis currently.
Competitive rivalry: The competitive rivalry in the Gastritis Treatment market is high. Key players compete on the basis of pricing, innovation, and marketing.
Key Takeaways
The global Gastritis Treatment market is expected to witness high growth, exhibiting CAGR of 6.2% over the forecast period, due to increasing prevalence of gastric disorders, stressful lifestyle and unhealthy dietary habits.
The Asia Pacific is expected to witness fastest growth in the gastritis treatment market over the forecast period due to rising healthcare expenditure, large population base and improving access to healthcare. Europe is presently dominating the market.
Key players operating in the gastritis treatment market are Pfizer Inc., AstraZeneca plc, Johnson & Johnson, Novartis AG, Takeda Pharmaceutical Company Limited. Key players are focusing on R&D of new drugs for effective treatment and management of gastritis.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
