DUBLIN, Feb. 15, 2023 /PRNewswire/ — The “Antacids Market, Size, Global Forecast 2023-2027, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis” report has been added to ResearchAndMarkets.com’s offering.
Global Antacids Market will reach US$ 10.50 Billion in 2027, growing at a CAGR of 3.78% during 2022-2027
Globally, antacids are widely used for treating ulcers, inflammation, dyspepsia discomfort, sore stomach, stomach acid indigestion, and stomach upset. It is an over-the-counter (OTC) medication that neutralizes the acid in the stomach to relieve indigestion and heartburn.
Further, they contain ingredients like magnesium hydroxide, sodium bicarbonate, calcium, and aluminum are commonly available in convenient chewable powder, tablets, and liquid forms. They are self-prescribed medications and act by neutralizing the acid in the stomach and inhibiting pepsin.
The development in the antacids market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had prior led to restrictive containment measures involving remote working, social distancing, and the closure of commercial activities that resulted in operational challenges.
Poor lifestyle adoptions such as deskbound jobs, poor sleep quality, and irregular dietary habits, which increases the acidity level of the stomach and lead to gastroesophageal reflux disease, are essential drivers for the evolution of the antacids market. As per the American College of Gastroenterology, about 60 million Americans suffer from gastroesophageal reflux disease.
Tablets are Expected to Hold a Major Market Share:
By Dosage Form, Tablet was estimated to be the largest segment. Chewable tablets in different flavors help improve patient adherence to the medication, which in turn is expected to contribute to the segment’s growth. In addition, tablets are easy to store and can provide the exact dosage amount to the patients compared to the other dosage forms.
Distribution Channel Insights:
By distribution channel, the market is trifurcated into retail pharmacies, online pharmacies, and hospital pharmacies. Online pharmacy is the fastest-growing segment over the forecast period due to increasing consumer awareness. In addition, people are picking online pharmacies due to lucrative offers, such as price discounts, ease in the availability of drugs, and home delivery services.
Furthermore, the increasing adoption of information technology in the healthcare sector aids clinicians in sending prescriptions electronically, which is expected to boost growth.
Based on Region, North America is the most significant market for Antacids:
The North American antacids market is anticipated to grow significantly due to lifestyle changes and the rising geriatric population leading to gastrointestinal problems among the American people.
Also, the trend towards self-medication in countries such as the United States is increasing the demand for OTC (over-the-counter) digestive products, such as antacids. As a result, antacids are the most common over-the-counter products in the United States.
Impact of COVID-19 on Antacids market:
Market growth was hampered by declining production, a lockdown, and a labor shortage during the COVID-19 epidemic. As a result, the prices were higher than usual. But due to the rising demand for new antacids, the market will be growing in the coming years.
Furthermore, the COVID-19 pandemic caused a transient spike in antacid sales, which led to panic buying among individuals who had severe medical conditions like gastroesophageal reflux disease and obesity. Additionally, it was witnessed that various gastrointestinal medications successfully enhanced the clinical results of hospitalized COVID-19 patients.
Key Players:
Leading organizations employ various techniques to drive their company portfolio worldwide, including innovative product releases and R&D.
Companies Covered:
- Pfizer Inc
- GlaxoSmithKline plc.
- Dr Reddy’s Laboratories Ltd
- Johnson & Johnson
- Bayer AG
- Sanofi
- Abbott Laboratories
Key Topics Covered:
1. Introduction
2. Research & Methodology
3. Executive Summary
4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges
5. Global Antacids Market
6. Market Share – Global Antacids Market
6.1 By Drug Class
6.2 By Dosage Form
6.3 By Distribution Channel
6.4 By Region
7. Drug Class – Global Antacids Market
7.1 Proton Pump Inhibitor
7.2 H2 Antagonist
7.3 Acid Neutralizers
8. Dosage Form – Global Antacids Market
8.1 Tablet
8.2 Liquid
8.3 Powder
9. Distribution Channel – Global Antacids Market
9.1 Hospital Pharmacies
9.2 Retail Pharmacies
9.3 Online Pharmacies
10. Region – Global Antacids Market
10.1 North America
10.2 Europe
10.3 Asia Pacific
10.4 South America
10.5 Middle East & Africa
11. Company Analysis
11.1 Overview
11.2 Recent Development
11.3 Financial Insights
For more information about this report visit https://www.researchandmarkets.com/r/qkd8wg-market?w=5
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SOURCE Research and Markets
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