The Antacid Market Size is driven by increasing prevalence of gastroesophageal reflux disease (GERD), rising prevalence of obesity, rising prevalence of healthcare-associated infections and increasing emphasis on food safety. The tablet segment accounted for more than 59.57% of the market share in 2019 and anticipated to register the highest CAGR in the market during 2020-2027.
NEW YORK, Dec. 15, 2021 /PRNewswire/ -- According to the new market research report "Antacid Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Dosage Form (Tablet, Liquid, Others); Drug Class (Proton pump inhibitors, H2 Antagonist, Acid neutralizers); Distribution Channel (Hospital pharmacy, Retail pharmacy, Online pharmacy) and Geography", published by The Insight Partners, the global antacid market is expected to reach US$ 11,666.83 million in 2027 from US$ 8,547.97 million in 2019. The market is estimated to grow with a CAGR of 4.0% from 2020-2027. Get the Latest COVID-19 Analysis on antacid market at https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00016359
Antacid Market: Competition Landscape and Key Developments
Sanofi, GlaxoSmithKline plc, Bayer AG, Takeda Pharmaceutical Company Limited, Sun Pharmaceuticals Ltd, Boehringer Ingelheim International Gmbh, Dr. Reddy's Laboratories Ltd., Pfizer, Inc, Reckitt Benckiser Group Plc., and Procter And Gamble are among the key companies operating in the antacid market. These players are focusing on the expansion and diversification of their market presence and the acquisition of a new customer base, thereby tapping prevailing business opportunities.
- In August 2020, Takeda Pharmaceutical Company Limited declared that it has entered into an agreement to divest Takeda Consumer Healthcare Company Limited, a wholly-owned subsidiary of Takeda that operates in the consumer health care market primarily in Japan, to Oscar A-Co KK. This company is funded and managed by The Blackstone Group Inc..
- In July 2016, Takeda Pharmaceutical Company Limited received FDA Approval for its antacid product Dexilant. It contains API dexlansoprazole. The product was approved for patients of age group of 12-17 Years.
- In December 2018, GSK and Pfizer entered a joint venture for consumer healthcare businesses. This transaction created a new world-leading Consumer Healthcare. This transaction is expected to close within three years of the closing of the transaction. This venture is expected to help the companies to lead the product categories in the respective markets. The types include Pain Relief, Respiratory, Vitamin and Mineral Supplements, Digestive Health, Skin Health, and Therapeutic Oral Health.
The North American region holds the largest market share of the market, whereas the Asia Pacific region is the fastest-growing region. The antacid market in North America is expected to grow due to the increasing incidence of GERD due to change in lifestyle, government support for prevention and treatment of gastrointestinal diseases, presence of well-developed healthcare infrastructure, growing pharmaceutical industry, reimbursement coverage and industry giants are some of the prominent factors propelling the market growth in North America. In US, growing prevalence of gastrointestinal diseases is likely to demand antacid drugs.
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As per the National Institute of Diabetes and Digestive and Kidney Diseases 2014 report, around 15 to 30% of the US population has GERD. Similarly, according to the National Health Interview Survey, 2018, about 14.8 million people in the US were diagnosed with ulcers. Furthermore, the National Ambulatory Medical Care Survey: 2016 reported that around 22.4 million number of visited physicians office for digestive diseases and about 8.3 million emergency department visits were for digestive diseases.
Also, product launches in the US is likely to favor the growth of the market. For instance, in October 2020, Dr. Reddy's Laboratories Ltd. launched the over-the-counter (OTC) Famotidine Tablets USP, 10 mg and 20 mg in the US market. These tablets are acid reducers that prevent and relieve heartburn associated with acid indigestion and sour stomach.
The Asia Pacific region is expected to be the fastest-growing region among all other regions. Increasing focus of market players on this region, and introduction of new products or therapies in the country. Moreover, rising prevalence of the gastrointestinal diseases, increase in healthcare spending and availability of advanced technology helps to boost the growth of antacid market in the region.
Rise in Prevalence of Gastroesophageal Reflux Disesae in Antacid Market:
Gastroesophageal reflux disease (GERD), a digestive disorder that affects the ring of muscle between esophagus and stomach, is a chronic and highly prevalent disorder. As per the report 'Update on the epidemiology of gastro-esophageal reflux disease: a systematic review' published in 2014, the prevalence of GERD is 18.1-27.8% in North America, 2.5-7.8% in East Asia, 8.8-25.9% in Europe, 8.7-33.1% in the Middle East, 11.6% in Australia, and 23.0% in South America.
Furthermore, the National GI Survey was conducted and completed in 2015 and was the first major attempt to measure the prevalence of GERD in the US since 2005. As per the survey, 18% of the 71,000 people reported episodes of GERD twice a week and 31% reported GERD episodes once a week. The survey also reported that 35% of these patients used medications to control the condition and 55% of these used proton-pump inhibitors as their medication therapy. Additionally, the survey reported that the condition is more prevalent in women than in men. Thus, the factors mentioned above are driving the adoption of antacids during the forecast period.
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Antacid Market: Segmental Overview
Based on dosage form, is segmented into tablet, liquid, and others. The tablet segment accounted for more than 59.57% of the market share in 2019. In terms of drug class, is segmented into proton pump inhibitors, H2 antagonist, acid neutralizers. The proton pump inhibitors segment held the largest share of the market in 2019. In terms of distribution channel, the antacid market is segmented into hospital pharmacy, retail pharmacy, and online pharmacy. The retail pharmacy segment held the largest share of the market in 2019.
The COVID-19 outbreak has disturbed various trades and businesses across the world. Several measures are being taken to treat the disease and prevent the transmission; however, the excessive number of COVID-19 cases has resulted in the doctor's appointment cancellation. With COVID-19 continuing to spread worldwide, researchers are looking into numerous options for possible treatment, including existing options such as OTC products for common diseases.
COVID-19 affected sales of the essential OTC drugs such as antacids. The companies are preferring non-physical marketing campaigns and shifting sales processes online. To support the nonprescription drug sale, For instance, in March 2020, American President signed into law the Coronavirus Aid Relief and Economic Security (CARES) Act (HR 748). This landmark legislation provides financial relief for workers, healthcare professionals, and small businesses affected by the coronavirus. Under the law, first, consumers will immediately benefit from purchasing OTCs with pre-tax Health Savings Accounts (HSA) and Flexible Spending Accounts (FSA). OTC drugs, including nonprescription medications such as antacids, can again be purchased using tax-preferred funds by the nearly 60 million Americans enrolled in FSAs and HSAs. Moreover, the exports and imports of the pharmaceutical products is returning to its original momentum. Thus, the availability of the products in the region is improving. Therefore, the growth is likely to boost the development of the antacids market.
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