Antacids Market
Antacids Market Overview:
The antacids market was valued at USD 8255.13 million in 2018 and is expected to reach USD 10317.44 million by 2025, with an anticipated CAGR of 3.74% in the forecast period 2019-2025. The propelling factors for antacid market growth include the increasing geriatric population suffering from GERD, poor lifestyle choices leading to greater acidity incidences, and side effects of drugs including non-steroidal, anti-inflammatory medicines. The group of people aged 60 or older is increasing at a pace of about 3% each year and 65% of the geriatric population have to deal with acid reflux. This functions as one of the major factors boosting the global antacid market. There has been an increase in the geriatric population and this is one of the most favourable growth factors for the antacid market as the demographic is extremely susceptible to peptic ulcers and gastroesophageal reflux diseases.
In the elderly population, acidic complications usually recur, making it a distinctive challenge for both the primary care provider and the gastroenterologist. In addition, such patients often suffer from several symptomatic disorders, such as erosive esophagitis, Barrett esophagus, and esophageal cancer, in which a combination of therapies is used to treat and use antacids in such cases considerably increases. In addition, there is also growth in e-commerce that is likely to increase demand for antacids over the next few years through internet retail channels. Therefore, the rising popularity of e-commerce and the increase in the number of online medicine suppliers are anticipated to have a positive effect on the general growth of the market.
Scope of the Report:
According to the report s scope, antacids are widely available medications used to slow heartburn, sore stomach, acid indigestion, and stomach upset. Protecting the stomach, duodenum, and esophagus from severe acids released while eating foods is useful. The antacids generally do not require a prescription, that is, they are self-prescribed. They therefore provide fast relief from heartburn, a significant symptom of gastroesophageal reflux disease and indigestion.
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Key Market Trends: –
Tablet Segment in the formulation type is driving the market growth:
Tablet has been estimated to be the largest segment owing to the existence of chewable tablets on the market with distinct flavors that help improve patient adherence to the medication, which in turn is supposed to add to the segment s development. Tablets also provide patients with the right quantity of dosage and are simple to store. These factors can be attributed over the forecast period to segment growth. Furthermore, owing to its pleasant taste, the liquid dosage form is also one of the favorite options for kids and the elderly population. This factor is also expected to boost market growth.
Asia Pacific is the Fastest Growing Segment:
Due to the high unmet clinical needs, the availability of appropriate pharmacological treatments, increasing disposable income and customer awareness of the accessibility of these products, Asia-Pacific is anticipated to be the largest and fastest growing regional segment during the forecast period. In addition, the presence of important players is expected to contribute to market growth over the forecast period.
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Competitive Landscape:
Due to the presence of multinational players and small-scale companies, the overall market faces intense competition over the forecast period. Other important development approaches taken by key players include strategic acquisitions, collaborations, and partnerships that will help them expand their geographic presence and strengthen their company position as well.
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