Antacid Market Report Overview
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The global antacid market size was USD 6.21 billion in 2021 and is projected to touch USD 7.83 billion by 2028, exhibiting a CAGR of 3.3% during the forecast period.
The antacid belongs to the group of medications that reduce stomach acid. It efficiently treats stomach discomfort, acid reflux, indigestion, and heartburn. For oral use, antacids are available as pills, capsules, liquid, and powder. Among the most popular antacids on the market are magnesium carbonate, calcium carbonate, magnesium trisilicate, magnesium hydroxide, and sodium bicarbonate. Antacid ingredients aid in regulating the pH of stomach acid.
Products for antacids are sold through outlets such as pharmacies online, retail stores, and hospitals. In reality, they are over-the-counter (OTC) medications, also referred to as non-prescription drugs, that can be safely and effectively consumed when used in accordance with the instructions on the label or as advised by concerned healthcare professionals. During the projected period, there will be a considerable increase in the worldwide antacids market. The market for antacids is driven by an increase in occurrences of stomach ulcers, heartburn, and ingestion. Some antacids are made of simethicone which helps the human body and cures acidity.
COVID-19 Impact: Rising Demand for Medicines Boosted the Market
The global COVID-19 pandemic has been unprecedented and staggering, with antacid experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.
Governments across the world collaborated with biotech and pharmaceutical companies to battle the COVID-19 epidemic, from assisting in the development of vaccinations to preparing for issues with the supply chain for pharmaceuticals. Furthermore, the demand for commonly prescribed drugs like hydroxychloroquine for the treatment of COVID-19 has sharply increased. Given the lack of these medicines in many industrialized countries, the great need for these medicines has created enormous potential for producers of COVID-19 administration medications. The pharmaceutical and biotechnology sector is anticipated to have significant evolution in the next few years as a result of the need for COVID-19 treatment and vaccine medications.
LATEST TRENDS
"Growing Cases of Acidity to Propel Market Growth"
For both general practitioners and gastroenterologists, acid problems in the elderly population provide a special challenge. Additionally, these people frequently experience a variety of symptomatic illnesses, including esophageal cancer and Barrett's esophagus. In order to treat these diseases, a combination of therapies is employed, and antacid use in these circumstances has greatly increased, which is likely to fuel market expansion throughout the course of the projection period. These factors are anticipated to augment antacid market growth. The number of elderly people is considerably expanding, and the geriatric population is suffering from acid reflux. These patients frequently have a number of symptomatic disorders, such as erosive esophagitis, Barrett's esophagus, and esophageal cancer, where a combination of therapies is used for the treatment, and the use of antacids rises significantly in cases like this. In the elderly population, acidic issues are common and recurrent.
Antacid Market Segmentation
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By Type Analysis
By type, the market is segmented into acid neutralizers, H2 antagonists, and proton pump inhibitors.
The proton pump is expected to dominate the market attributable to its characteristics as it helps in decreasing the acid production in the body and prevents heartburn.
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By Application Analysis
Based on application, the market is classified into OTC drugs and Rx drugs.
DRIVING FACTORS
"Growing E-Commerce Industry to Cater to Growth "
The demand for antacids through online retailing channels has likely increased in recent years due to the clear expansion of e-commerce. As a result, the rapid expansion of online pharmacies and the popularity of e-commerce are predicted to positively affect the market's overall growth. The demand for antacids in candies and melt-in-your-mouth micro-granules is increasing while manufacturers are working to reinvent their brand identities. The availability of a range of tablets and chewable tablets in various tastes that aid in improving the adherence of the patient to the prescription is anticipated to support the market expansion. Additionally, tablets are suitable for keeping and giving patients the right dosage.
"Rising Retail Pharmacies and Cases of Heartburn to Bolster Product Demand"
The availability of various pharmacies is making the availability of tablets easy. The growing number of pharmacies in developing and developed economies are expected to create lucrative opportunities for market growth. Rising awareness about the product dosage is leading to higher sales of tablets. The population finds it more convenient to buy tablets from pharmacies directly instead of seeing a doctor, which is expected to foster market growth.
RESTRAINING FACTORS
"Side-Effects Associated with Overconsumption of the Tablet to Hamper Growth"
The main barrier to the market for antacids is their side effects. Antacids are the main culprits for these adverse effects, which also include milk-alkali syndrome and dose-dependent rebound hyperacidity. Constipation, osteomalacia, aluminum intoxication, and hypophosphatemia are adverse reactions that are brought on by antacids that contain aluminum hydroxide. Additionally, the absorption of both medications occurs when antacids and other acidic medications are taken together, which lowers both medications' effectiveness.
Antacid Market Regional Insights
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"North America to Be the Dominant Region Due to the Rising Geriatric Population"
North America is expected to lead the market owing to the rising number of gastro-oesophageal diseases coupled with the rising geriatric population. Additionally, the rise in the prevalence of heartburn is expected to make the region hold a major part of the antacid market share.
Asia Pacific is most likely to hold a significant part of the antacid market share, accredited to the rising developments in healthcare services.
Europe is forecasted to have sizable growth in the global market due to the use of tablets by the elderly population suffering from various diseases such as obesity and acidity.
KEY INDUSTRY PLAYERS
"Key Players Focusing On Gaining Mergers and Collaboration to Grow in Market"
Companies are developing advanced techniques to launch new products with advanced inbuilt features. The key players are looking to gain mergers and collaborations in the global market. Most of the key players are partnering together to enhance their product portfolio. The market is competitive, which keeps challenging the key players to adopt advanced and innovative marketing strategies. The companies strive to develop long-term growth strategies to gain a competitive advantage in the global market. Various key players are adopting organic and inorganic strategies in order to gain higher growth.
List of Market Players Profiled
- AstraZeneca (U.K.)
- Takeda Pharmaceutical (Japan)
- Pfizer (U.S.)
- Reckitt Benckiser (U.K.)
- Bayer (Germany)
- Procter＆Gamble (U.S.)
- GlaxoSmithKline (U.K.)
- Johnson＆Johnson (U.S.)
- CONBA (China)
- Xiuzheng Pharma (China)
- Sanofi (France)
- Bausch Health (Canada)
- CR SANJIU (China)
- Reddy's Laboratories (India)
REPORT COVERAGE
An overview of the product is provided along with the product description. Numerous industry elements are included in the research.
- The pandemic's aftereffects and the subsequent lockdown.
- The market's most recent trend is currently fueling expansion.
- The factors are most likely to stimulate market growth.
- The reasons the market is expected to grow more slowly.
- A comprehensive regional analysis of the market is conducted.
Significant players and their business offices are also covered in the article.
| REPORT COVERAGE | DETAILS |
|---|---|
Market Size Value In |
US$ 6.21 Billion in 2021 |
Market Size Value By |
US$ 7.83 Billion by 2028 |
Growth Rate |
CAGR of 3.3% from 2021 to 2028 |
Forecast Period |
2022-2028 |
Base Year |
2022 |
Historical Data Available |
Yes |
Segments Covered |
Type & Application |
Regional Scope |
Global |
