Antacids Market:
Executive Summary
Antacids are principally used to neutralize acid in the stomach. This contains ingredients such as aluminium, calcium, magnesium, and sodium bicarbonate which are basically bases that meets the acid in the stomach and make the PH neutral. Due to poor lifestyle, bad food choices, and growing number population suffering from GERD, the incidence of acidity is rise. Hence the consumption of antacids is anticipated to increase in upcoming years. The group of aged 60 years people or higher is increasing every year around the world. This population deals with acidity the most. Hence this could act as one of the major factors for a growing antacids market. With the advancement of technology, the number of sitting jobs has increased globally resulting a higher population vulnerable to peptic ulcers and gastroesophageal reflux disorder. This also could a favorable growth factor for the global antacids market.
Acidic complications usually occur intermittently due to which treating such disorder is difficult for general surgeons as well as specialists. Such patients often suffer from other symptomatic disorder such as Barrett esophagus, erosive esophagitis, and esophageal cancer in which many of the therapies are used to treat such patients that could cause a significant rise in the usage of antacids.
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Antacids are also widely being used for slowing heartburn, acid neutralization, stomach upset, and sore stomach. Antacids are also helpful in protecting duodenum, harsh acid release from esophagus release. There is usually no need for a prescription for using antacids, hence a rise in the usage of antacids are expected globally. In addition to that, a significant rise in the growth of e-commerce and online retailing channels is seen in last few years, resulting an increasing number of online sellers and buyers. There is a positive impact is expected on global antacids market because of this.
The global antacids market was valued at about $4.62 billion in 2018 and is expected to decline to $4.55 billion at a CAGR of -0.4% through 2022.
Major players in the market are GlaxoSmithKline plc, Pfizer Inc., Bayer AG, Dr. Reddy’s Laboratories Ltd and AstraZeneca PLC.
Competitive Landscape
There are many major players and small units are expected to go through intense competition over the period. Collaborations, acquisitions, and partnerships are helping them to expand their overall growth and presence geographically are the strategies being adopted by them to strengthen their business.
Market Segmentation.
Antacids are available liquid, tablet, and powder. The availability of chewable tablets and different flavors in the market, tablet is anticipated to grab the largest segment of the market. Tablets also improve patient adherence to the medication that could potentially increase the consumption and contribute to the growth of antacids market. Some other key factors like, easy storage, availability in liquid form which is good for children, and pleasant taste are likely to contribute in the market growth.
Regional Analysis
The antacid global market is segmented into the regions of Asia-pacific, western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Asia-pacific is anticipated to be the fastest-growing regional market due to the lack of consumer awareness, effective treatment methods, and high unmet medical needs. North America, Europe is expected to be one of the major markets due to increasing trend of unhealthy fast food in their daily life.
Continuous…
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