H2-Receptor Antagonists Market: Introduction
- Histamine H2 receptor antagonist, also known as H2-blockers, are a class of medications that are used in the treatment of acid-peptic disease including duodenal and gastric ulcers, inflamed stomach gastroesophageal reflux disease, common heartburn, and peptic ulcers. These medications are available over-the-counter (OTC) and with the doctor’s prescription. Common H2 receptor blockers include nizatidine, famotidine, and cimetidine.
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- In April 2020, the Food and Drug Administration (FDA) recalled all forms of withdrawal prescription and over-the-counter (OTC) ranitidine drugs from the U.S. market immediately. This recommendation was made, as unacceptable levels of N-nitrosodimethylamine (NDMA), a probable carcinogen (cancer-causing chemical), were found in some ranitidine products.
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Key Drivers and Restraints of Global H2-Receptor Antagonists Market
- High prevalence and increasing incidence of duodenal and gastric ulcers, inflamed stomach gastroesophageal reflux disease, and peptic ulcer disease in developed countries has led to the development of novel therapeutics drugs. Biopharmaceutical companies have made significant investments in R&D activities, and a large number of pipeline products are at different stages of clinical approvals, which are likely to commercialize during the forecast period.
- According to International Foundation for Gastrointestinal Disorders, Inc., the prevalence of gastroesophageal reflux disease (GERD) was 18.1% to 27.8% in North America, 8.8% to 25.9% in Europe, 2.5% to 7.8% in East Asia, 8.7% to 33.1% in the Middle East, 11.6% in Australia, and 23.0% in South America in 2019. GERD is a chronic and highly prevalent disorder that can potentially lead to serious medical complications, and the medical expense involved in the diagnosis, treatment, and management of the disease is significant.
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- Rising awareness about gastroesophageal reflux disease and acid-peptic disease, availability of treatment options, and management of these diseases, have increased the demand for the treatment of H2-receptor antagonists in developing countries. Governments and other non-profit organizations spread awareness and educate people about gastric acid management through campaigns and educational and clinical workshops.
- Retail pharmacies is projected to be a highly attractive segment during the forecast period. Rising chain of retail pharmacies and easy access to these pharmacies are likely to propel the segment during the forecast period. Moreover, retail pharmacies are considered as the first point of contact for self-medication. Easy availability of pharmaceutical drugs and some integrin antagonists at retail pharmacies is projected to drive the retail pharmacies segment during the forecast period.
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Asia Pacific to Lead Global H2-Receptor Antagonists Market
- In terms of geography, the global H2-Receptor Antagonists market can be segmented into five key regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America and Europe are expected to hold major share of the global H2-receptor antagonists market during the forecast period, owing to developed health care infrastructure and large patient population along with increasing technological development in these regions.
- Increase in government intervention in emerging markets has led to a surge in awareness about diseases and improvement in health care infrastructure. Additionally, socioeconomic development has been observed in emerging economies across Asia, Africa, and Latin America. These factors contribute to the overall increase in spending capacity of the population.
Key Players Operating in Global H2-Receptor Antagonists Market
Manufacturers operating in the global H2-receptor antagonists market are increasingly investing in research & development of new and innovative techniques for new and improved dosage foam. These players are also focused on offering highly efficient and patient compliant products.