“Global Antacids Market is anticipated to grow on account of growing geriatric population suffering from GERD, unhealthy eating habits, and easy accessibility of the medicine as an OTC drug”, says new Visiongain report
04 September 2019
Visiongain has launched a new pharma report Antacids Market Report : By Dosage Form (Tablets, Liquid, Others), by Distribution Channel (Retail, Online, Hospital) and by Region
Global Antacids Market is anticipated to grow on account of growing geriatric population suffering from GERD, unhealthy eating habits, and easy accessibility of the medicine as an OTC drug. The global Antacids market is anticipated to grow at a lucrative CAGR of 4.1% and anticipated to reach USD 9.24 Billion by 2029.
Antacids are a category of drugs which has been in the market for several years. Initially, they were first-line protection against peptic ulcer disease; however, the discovery of proton pump inhibitors revolutionized peptic ulcer disease therapy. Antacid use is currently limited to relieve heartburn associated with mild intermittent GERD (gastroesophageal reflux disease). The estimated incidence of heartburn in North America at least once a week varies from 18% to 28%, with 25% of adolescents reporting daily heartburn.
Increasing prevalence of GERD is anticipated to affect the global market over the forecast period. Also, as per reports of the Gut journal in the year 2017, the prevalence of GERD was approximately 9% to 26% in Europe, 18% to 28% in North America, 9% to 33% in Middle East, 3% to 8% in East Asia, 23% in South America and 12% in Australia. Furthermore, growing awareness about GERD is anticipated to fuel the growth of global antacids market.
North America retains most market share followed by Europe and will continue to dominate in the future as a consequence of growing incidence of digestive disorders combined with consumer knowledge of antacid products. According to the CDC, in 2017, there were around 32.3 million visits to emergency departments with digestive system illnesses as the main diagnosis. Furthermore, the presence of developed economies within the region is fueling the growth of North America antacids market.
Asia Pacific region is expected to experience the highest growth in terms of CAGR over the forecast period owing to the presence of large patient pool suffering from digestive problems, availability of effective treatment methods, consumer awareness about the availability of these products and rising disposable income. Also, the presence of key players is anticipated to contribute to market growth over the forecast period.
Currently, key players are forming various strategies such as acquisitions, mergers, partnerships, collaborations and launching new products in order to strengthen their position in the global single-cell genomics market. Companies are also expanding their R&D, distribution, and management facilities in order to expand their business and to hold a competitive edge in the market.
The comprehensive market report features companies such as Bayer AG, Boehringer Ingelheim International GmbH, Dr. Reddy’s Laboratories Ltd., First Aid Only, GlaxoSmithKline plc, Johnson & Johnson, Pfizer Inc., Procter & Gamble, Reckitt Benckiser Group plc, Sanofi-Aventis LLC, Sun Pharmaceuticals Ltd. And Takeda Pharmaceutical Company Limited among other prominent players.
Also the research study offers market estimation and forecast for the period ranging 2019–2029 for global markets such as North America, Latin America, Western Europe, Eastern Europe, Asia Pacific and MEA along with regional sub-markets as U.S., Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Nordic, Benelux, Russia, Poland, India, Japan, China, Australia, ASEAN, GCC, South Africa and North Africa.
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