Antacids Market: Current Analysis and Forecast (2022-2028)

Antacids Market: Current Analysis and Forecast (2022-2028)

The global antacids market is experiencing significant growth due to the increasing aging population and Gastroesophageal Reflux Disease (GERD), such as erosive esophagitis, Barrett esophagus, and esophageal cancer amongst the population, and awareness regarding gastrointestinal health among consumers. For Instance, In March 2020, Lupin launched the authorized generic for Horizon Therapeutics PLC's Vimovo (naproxen/esomeprazole magnesium) delayed-release tablets in the United States. The product is a combination of naproxen, and esomeprazole magnesium, in which naproxen is used for symptomatic relief of arthritis and esomeprazole magnesium to decrease the risk of developing naproxen-associated gastric ulcers. Furthermore, PLC's Vimovo is used when quick relief of your symptoms is required. Therefore, the market for antacids is expected to witness a significant CAGR of 9% during the forecast period.

Global Antacids Market is expected to register a CAGR of around 9% over the period of 2022-2028. This is mainly due to the growing geriatric population suffering from Gastroesophageal Reflux Disease (GERD), which occurs due to higher incidences of acidity, that results in the side effects of drugs like non-steroidal, anti-inflammatory drugs., and stringent government regulations coupled with the growing focus of major stakeholders in the healthcare industry to adopt to make antacids products more sustainable with fewer side effects and cost-effective. Major healthcare companies are investing heavily in their products due to rising social awareness regarding gastrointestinal cases, and other associated disorders, such as erosive esophagitis, Barrett esophagus, and esophageal cancer. According to World Gastroenterology Organization, the prevalence of GERD is increasing worldwide and ranges from nearly 2.5% to 6.6% in Eastern Asia and nearly 13.8% to 25.8% in North America. This rise in the prevalence of these disorders is contributing to market growth. Furthermore, many therapies are used for the treatment and the use of antacids significantly rises in such cases which is responsible for excessive use of antacids and also significantly contributes to the market for antacids. Therefore, the market for antacids is expected to witness significant growth during the forecast period.

GlaxoSmithKline plc., Pfizer Inc., Bayer AG, Dr. Reddy's Laboratories Ltd., AstraZeneca PLC., Boehringer Ingelheim GmbH, Sun Pharmaceuticals Industries Ltd., Takeda Pharmaceutical Company Limited, Abbott Laboratories, Johnson & Johnson are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
"Amongst Drug Class, proton pump inhibitors category accounted for the majority share in the market in 2020”

Based on drug class, the market is classified into proton pump inhibitors, H2 antagonists, acid neutralizers and others. Amongst types, the proton pump inhibitors category accounted for a significant share of the market. This is mainly due to its use in the treatment of gastroesophageal reflux disease (also known as GERD). This class is considered standard antacids and this type of drug reduce stomach acid production significantly and for a long time. This segment’s dominance is attributable to the presence of a large number of proton pump inhibitor antacids in the global market.
"Amongst Formulation, tablets are expected to witness highest CAGR during the forecast period”

Based on formulation, the market is categorized into tablets, capsules, suspension, drops, and others. Among these, the tablet is expected to witness the highest CAGR during the forecast period. This is mainly due to the strong prevalence of the presence of a variety of chewable tablets in the market with different flavors that help to improve patient adherence to the medication. Furthermore, supportive government initiatives to create awareness regarding the treatment options for gastric issues are expected to well for the adoption of innovative drugs. The continuous development of the new products and procedures is likely to strengthen the market of the segment during the forecast period.
"North America to witness significant growth during the forecast period”

North America is expected to show the highest CAGR growth in the antacids market. The major contributors to the growth of this market are US and Canada. The increase in technology development in emerging economies, as well as the expansion of the healthcare industry, has contributed to the growth of the North America market. North America has a higher adoption rate of medical treatment and antacid drugs. The enhanced awareness regarding the availability of various antacids has propelled the growth of the market in the region. Hence these require drugs in the region which drives the demand for antacids in the region. Furthermore, increasing geriatric population and new product launches, and various developmental strategies adopted by the regional market will drive market growth. Furthermore, according to the Centers for Disease Control and Prevention (CDC) 2018 statistics, the total number of adults diagnosed with ulcers in the United States was found to be 14.8 million. The number of populations with ulcers is proportional to the population suffering from GERD. Furthermore, the biopharmaceutical companies and diagnostics industry owing to the presence of well-established market players and frequent product launches in the region.

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