Antacids Market set to witness surge in demand over the forecast period
The global antacids market features a large number of companies, both international as well as regional, which serve the global market through a large number of products varieties and brands. The level of competition is thus intense and the high focus of companies on new markets and growth opportunities is evident through the several strategic collaborations to have taken place in the market in the past years, observes Transparency Market Research in a recent report.
Some of the leading companies in the market are Reckitt Benckiser Group plc, AstraZeneca, Valeant Pharmaceuticals International Inc., Boehringer Ingelheim GmbH, Bayer AG, GlaxoSmithKline plc, Sanofi, Pfizer Inc., Johnson & Johnson, Sun Pharmaceuticals Ltd., Procter & Gamble, Dr. Reddy’s Laboratories Ltd., and Takeda Pharmaceutical Company Ltd.
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Proton Pump Inhibitors Acquire Dominant Share in Overall Market
Of the key drug classes available in the global market, the segment of proton pump inhibitors is likely to acquire the dominant share in global revenue over the report’s forecast period. The segment also accounted for the dominant share in the overall market in 2016, thanks to their easy availability as over-the-counter (OTC) as well as prescription medicines and low cost.
Over the forecast period, however, the segment of acid neutralizers is expected to emerge as the most lucrative segment owing to their vast usage for occasional acidity and heartburns and their availability in the form of several flavors and formulations. Geographically, the market in Europe accounted for the dominant share in the overall market owing to the vast rise in gastro-esophageal-reflux disorders in the region.
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Rising Geriatric Population and Consecutive Rise in Gastroesophageal Reflux Conditions to Drive Market
The massive rise in the world’s population of geriatrics – people above the age of 60 years – has worked as one of the most favorable growth factors for the global antacids market as the demographic is highly vulnerable to peptic ulcers and gastroesophageal reflux disorders. Estimates suggest that the world geriatric population will rise to 923 mn by 2050 in Asia alone. This also suggests a potential for steady rise in demand for antacids to counter gastroesophageal reflux diseases and peptic ulcers in this population.
The market is also expected to be driven due to the vast rise in prevalence of acidity and heartburn among the global population, thanks to unhealthy dietary habits, stressful lifestyles, lack of proper sleep, and lack of physical activities. The market is also likely to benefit from the widespread practice of self-medication in cases of acidity and occasional heartburns and the easy availability of a variety of over-the-counter antacids across the globe. However, concerns associated with the adverse health effects of prolonged use of antacids could hamper the growth of the market to a certain degree.
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This review of the global antacids market is based on a recent market research report by Transparency Market Research, titled “Antacids Market (Drug Class – Proton Pump Inhibitor, H2 Antagonist, and Acid Neutralizers; Formulation Type – Tablet, Liquid, and Powder; Distribution Channel – Hospital Pharmacies and Retail Pharmacies) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017–2025.”
For the study, the market has been segmented as follows:
Antacids Market, by Drug Class
- Proton pump inhibitors
- H2 antagonist
- Acid neutralizers
Antacids Market, by Formulation Type
- Tablet
- Liquid
- Powder
- Others
Antacids Market, by Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Others
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