Sucralfate Market Size, Share, Growth, And Industry Analysis, By Type (Powder, Suspension, Sucralfate), By Application (Heartburn, Sour Stomach, Peptic Ulcer, Others), Covid-19 Impact, Latest Trends, Segmentation, Driving Factors, Restraining Factors, Key Industry Players, Regional Insights, and Forecast From 2024 To 2031

Updated On: 01 April 2024

Sucralfate Market Report Overview

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The global sucralfate market size is expected to be USD 269.7 million in 2022 and is expected to reach USD 316.7 million in 2031, exhibiting a CAGR of 1.8% during the forecast period.

Sucralfate is the general term for the brand-name medication Carafate. It is a medication prescribed for the treatment of upper gastrointestinal ulcers, peptic ulcer, and to prevent ulcer recurrence. It is indeed a hydroxy aluminum sodium of sucrose octa sulfate which acts as a mucosal adherent at the local level. It constructs a protective layer over sores by trying to stick to the area affected, protecting it from enzymes and acids and allowing ulcers to heal faster.

The drug can also be utilized to cure dog, horse, and cat ulcers followed by upper gastrointestinal disorders caused by drugs, dangerous chemical consumption, liver problems, kidney failure, carcinoma, anxiety (trauma, distress, septic shock, and burns), and bowel inflammation.

COVID-19 Impact: Interruption in Supply Chains to Decline Market Share

The global COVID-19 pandemic has been unprecedented and staggering, with sucralfate experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

The eruption of coronavirus illness (COVID-19) did act as a humongous restriction mostly on sucralfate market in 2020, as supply chains have been interrupted because of international limitations and utilization has declined due to global government lockdowns. COVID-19 is an extremely contagious disease characterized by flu-like symptoms such as fever, coughing, and difficulty breathing. The virus was discovered in Wuhan, and has since spread throughout the world, which include West Europe, Asia, North America. Covid-19 has had a significant impact on a number of industries, one of which is the healthcare industry. A shutdown, boundary shutdown, lockdowns, followed by other forms of suppression have only exacerbated the situation. To cope with this pandemic scenario, all travel and outdoor activities were suspended. Because of health and safety concerns, all of the individuals were staying at home, which has a negative impact on the sucralfate market and on every other market for healthcare.

Latest Trends

"Rising Product Development to Intensify Market Magnification "

Growing demands, rising industrialization and urbanization as well as product development and technological advancements, are driving the sucralfate market forward. The global market is also being influenced by factors such as an increasing geriatric population and a rise in the occurring of intestinal ulcers.

Sucralfate Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into powder, suspension, sucralfate

Powder is the leading part of the type segment

• By Application Analysis

According to application, the market can be segmented into heartburn, sour stomach, peptic ulcer, others

Heartburn is the leading part of the application segment

Driving Factors

"Increasing Research and Development Methodologies to Boost Market Share "

Increasing research and development efforts for exploring new medicines using the drug are predicted to propel sucralfate market share. In accordance with an April 2018 ABEA (American Broncho Esophagological Association) report, when the drug is combined with honey aids in the diagnosis of esophagus injury in children and infants. Usage of BB (Button Batteries), small disc-shaped batteries normally found in toys, has been linked to esophagus damage in infants and children.

"Powder Segment to Aid Market Forwarding "

The sucralfate market is divided into two types: powder and suspension. The powder portion will lead the market because it promotes faster ulcer healing. Powders have greater stability than liquids. Furthermore, the danger of incompatibility is lower when compared to liquid dosage. Powdered medications are also known to have a quicker onset of effect than that of other solid dosage forms.

Restraining Factors

"Side Effects of the Medication and Drugs Scarcity to Deplete Market Advancement "

Bloating, sore throat, stomachache, gas, and nausea are all possible side effects. If an individual experiences any serious side effects, such as an extraordinary feeling of fullness in the belly that does not go away, nausea/vomiting/stomach pain, particularly after meals, or trouble swallowing, they must notify their doctor immediately. It is uncommon for this drug to cause a severe allergic reaction. Moreover, if one notices any of the symptoms of a severe allergic reaction, seek medical attention immediately: redness, itchiness (particularly of the face/tongue/throat), serious dizziness, and difficulty breathing. The above-mentioned side effects can cause a hindrance in the sucralfate market growth. Moreover, drug scarcity is anticipated to further stymie the expansion of the drug demand.

Sucralfate Market Regional Insights

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"Growing Number of Research Studies to Foster Market Growth in North America and Asia Pacific "

North America currently holds an advanced position with in the market, which can be described by the growing number of research studies being conducted in the region.

However, the Asia Pacific is expected to notify a higher rate of growth in the market during the forecast period. The growing incidence of peptic ulcers caused by H. pylori, in addition to the soaring incidence of gastrointestinal cancer followed by gastric MALT (mucosa-associated lymphoid tissue) lymphoma, will encourage the development of this regional market.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled

• SRL Pharma (India)
• Nitika Chemical (India)

Report Coverage

The industry's growth was significantly influenced by the tactics employed by market participants in recent years, such as extensions. The report provides details and information on the companies and their interactions with the market. The data is gathered and published through appropriate research, technological advancements, expansions, and expanding healthcare. Other criteria considered for this market are the firms that develop and provide new products, the areas in which they operate, mechanisation, innovative techniques, making the most money, and using their products to have a large social impact. This analysis examines the global and regional effects of the outbreak mostly on the market. The study describes the market share features, and market growth by type, industry, and customer sector.

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.