NEWARK, Del, Nov. 14, 2023 (GLOBE NEWSWIRE) -- As per Future Market Insights latest industry analysis, the valuation for the global antacids market The market to be worth US$ 6,971.2 million by the end of 2023 and further expand at a CAGR of 4.9% to reach a valuation of US$ 11,194.8 million by 2033.
Antacids are commonly used due to their affordability and help to reduce inflammation, swelling, and pain. Likewise, changing lifestyles such as unstable eating patterns, sedentary lifestyles, and sleep patterns are favorably influencing market growth. The development of safe and effective raft-forming antacids that have a longer duration of action and higher efficacy is one of the many product advancements that are boosting the market's expansion.
Pharmaceutical manufacturers are concentrating on developing new drug discoveries, formulation of tablets, and different drug dosages. Furthermore, antacids are widely acceptable by several patients as they can be used as an effective medication for clinical conditions. As a result, the antacids market will drive throughout the forecast period.
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Key Takeaways from the Market Study
- Proton pump inhibitors are the leading segment of antacids and hold around 25.3% market value share in 2022, proton pump inhibitors reduce gastroesophageal reflux disorder and also treat stomach ulcers or duodenal. PPI is generally available in the form of tablets or capsules.
- The tablet segment is set to lead in terms of indication of antacids with a projected market value share of around 25.5% by 2022; generally, tablets of antacids are used to take in conditions like acidity and heartburn.
- By route of administration, oral is leading in the global antacids market and is expected to continue to do so with a projected CAGR of 4.4% during the forecasted years, with a market share of 64.4% in the year 2022.
- Gastroesophageal reflux disease holds the highest share in the antacids market, with a market value share of 49.2% and a CAGR of 4.7% during the projected forecasted period. Being overeating, overweight, eating chocolate and spicy foods as well as consuming caffeine and alcohol are some lifestyle choices that may contribute to GERD.
- Retail pharmacies as a distribution channel are leading in the global antacids market and are expected to continue to do so with a projected CAGR rate of 4.4% during the forecasted years, with a market share of 44.0% in the year 2022.
- North America is considered the leading region with a value share of 31.2% in 2022, owing to the high prevalence of diseases like GERD and heartburn.
“Rising focus toward developing new antacids substance and new drugs launches, the antacids market is expected to witness an advancement over the forecasted years,” Says Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).
What Does the Report Cover?
Future Market Insights offers a unique perspective and actionable insights into the antacids market in its latest study. It presents a historical demand assessment of 2018 to 2022 and projections for 2023 to 2033. The global market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader
The research study is based on the drug class (proton pump inhibitors, h2 antagonists, acid neutralizers, pro-motility agents, anti-h.pyrolic drugs, prostaglandin analogous, others), by dosage form (tablet, capsules, powder, liquid, others), by route of administration (oral, injectable), by indication (gastroesophageal reflux disease, heartburn, ulcer, others), by distribution channel (retail pharmacies, hospital pharmacies, online pharmacies) across seven key regions of the world.
Scope Of Report:
| Attribute | Details |
| Forecast Period | 2018 to 2022 |
| Historical Data Available for | 2023 to 2033 |
| Market Analysis | US$ million for Value |
| Key Regions Covered | North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Argentina, United Kingdom, Germany, Italy, Russia, Spain, France, BENELUX, Nordic countries, India, Thailand, Indonesia, Malaysia, Japan, China, South Korea, Australia, New Zealand, Turkey, GCC, Israel, South Africa and North Africa |
| Key Market Segments Covered | Drug Class, Dosage Form, Route of Administration, Indication, Distribution Channel and Region |
| Key Companies Profiled |
|
Market Competition
The market for antacids is fragmented, and there exist several local, upcoming, as well as established players within the market. Key players have initiated marketing initiatives to educate the elderly population about the benefits of antacids while also attempting to improve the drugs with different specifications.
- On 22 February 2022, Alkem Labs, Omee antacid brand, started a new advertising campaign called ‘Sabko Pata Hai, India Ka Favorite Antacid hai Omee.’ The campaign's objectives are to make India laugh and to spread awareness that Omee is the treatment for all acidity issues.
- On 20 October 2020, Dr. Reddy's Laboratories Ltd. announced the launching of the re-launch of over-the-counter (OTC) Famotidine Tablets USP, 10 mg and 20 mg. These tablets are used for heartburn prevention and relief from acid reducers.
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Key Market Segments Covered in Antacids Industry Research
By Drug Class:
- Proton Pump Inhibitors
- H2 Antagonist
- Acid Neutralizers
- Pro-Motility Agents
- Anti-H.Pyrolic Drugs
- Prostaglandin Analogous
- Others
By Dosage form:
- Tablet
- Capsules
- Powder
- Liquid
- Others
By Route of Administration:
- Oral
- Injectable
By Indication:
- Gastroesophageal Reflux Disease
- Heartburn
- Peptic Ulcer
- Others
By Distribution channel:
- Retail Pharmacies
- Hospital Pharmacies
- Online Pharmacies
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- The Middle East and Africa (MEA)
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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