While a large number of people suffer from mouth ulcers, many are reluctant to get a treatment and simply neglect the issue. It has been observed that the awareness regarding mouth ulcers treatment is quite low among the general population. Thus, companies operating in the mouth ulcers treatment market are undertaking extensive promotional and branding activities in order to create awareness about the available treatment options for mouth ulcers. Companies such as 3M ESPE have enabled online sales by offering a ‘Buy It Now’ option on their website. Other companies such as Piramal Healthcare have made use of popular and known faces such as Indian actor Sharman Joshi. Such marketing and promotional strategies are expected to drive the market in the coming years.
According to a report, published by Transparency Market Research, the global mouth ulcers treatment market was valued around US$1,242.6 mn in 2013 and is expected to reach about US$1,596.9 mn by the end of 2020.
In this blog post, TMR answers three critical questions about the mouth ulcers treatment market:
Q. What are the factors driving the global mouth ulcers treatment market?
The increasing affordability and improvement in mouth ulcers treatment are having a positive impact on the market. In addition to this, the growing geriatric population is another factor benefitting the global mouth ulcers treatment market. This is because, elderly people are more prone to infections as their immune systems are weaker, making them more likely to get mouth ulcers, driving the market. Moreover, efforts are being take to create a heightened awareness among people regarding mouth ulcers and their available treatment methods. This is also expected to boost the demand for mouth ulcers treatment options.
Q. Which region is anticipated to have the potential for growth in the market?
The untapped markets in developing nations of Asia Pacific will prove to be lucrative in the coming years. The low awareness among people in these countries is expected to provide ample opportunities for growth in the mouth ulcers treatment market. Moreover, the number of tobacco consumers is highest in Asia Pacific, which means that many people are susceptible to mouth ulcers. This is another important factor why the mouth ulcers treatment market will flourish in Asia Pacific in the coming years, making it the region which will witness growth at the highest CAGR.
Q. Which factors will hamper the growth of the market?
The threat of substitutes is expected to be high in the global mouth ulcers treatment market as medicines are being replaced by home remedies. This is expected to be the biggest challenge in the industry. The side effects associated with the use of mouth ulcers treatment options are also a cause of concern and may impact the demand for mouth ulcers treatment medicines negatively.