Antacids Market Analysis On The Basis Of Dosage Form, Distribution Channel, Region And Forecast Till 2025: Grand View Research Inc.
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According to report published by Grand View Research, The global antacids market size was valued at USD 5.83 billion in 2017 and is projected to expand at a CAGR of 3.9% over the forecast period.
The global antacid market size is expected to reach USD 7.91 billion by 2025, according to a new report by Grand View Research, Inc. It is projected to expand at a CAGR of 3.9% over the forecast period. The trend of self-medication for occasional heartburn is one of the major factors driving the market.
Growing geriatric population is expected to positively impact the overall market for antacid. According to the United Nations Department of Economic And Social Affairs (DESA), the global elderly population (60 years and above), was around 962 million in 2017. This number is expected to grow at the fastest rate in Latin America with 71% increase in population aged 60 and over, followed by Asia with 66%, Africa with 64%, North America with 41%, and Europe with 23%.
Key players operating in antacid market focus on product enhancement to cater to patient requirements, such as changing the dosage form into chewable tablets, powder, and jelly. Also, these players are involved in collaborations and acquisitions to expand their market presence. For instance, in 2017, Pfizer, Inc. entered into a strategic agreement with AstraZeneca to acquire one of the antacid brands, Neksium for a value of INR 75 crores in India to boost its product portfolio.
The easy availability of antacids over-the-counter offer growth opportunities for the sales of overall market. Some of the key players areGlaxoSmithKline plc; AstraZeneca; Pfizer, Inc.; Sun Pharmaceuticals Industries Ltd.; Dr. Reddy's Laboratories Ltd.; Bayer AG; Takeda Pharmaceutical Company Limited.
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Key Takeways Of The Report :
*In 2017, tablet segment led the antacid market due to high efficacy compared to other dosage forms. Liquid is anticipated to be the fastest growing segment due to its palatable taste and preferred choice for children and elderly population
*Retail pharmacy led the distribution channel segment due its accessibility and availability. Online pharmacy is anticipated to be the fastest growing segment due to growing adoption of Pharma 3.0 and consumer awareness
*Asia Pacific is estimated to be the largest and fastest growing region over the forecast period due to presence of key players such as GlaxoSmithKline plc; Pfizer Inc.; and Abbott among others
*North America held the second largest market share in 2017 owing to increasing prevalence of different digestive disorders
*Some of the key companies operating in this market are GlaxoSmithKline plc; Bayer AG; Boehringer Ingelheim International GmbH; Dr. Reddy's Laboratories Ltd.; Reckitt Benckiser Group plc; Sun Pharmaceuticals Ltd.; Sanofi; Takeda Pharmaceutical Company Limited; Pfizer Inc.; and Procter & Gamble.
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Grand View Research has segmented the global antacid market based on dosage form, distribution channel, and region:
Antacid Dosage Form Outlook (Revenue, USD Million, 2014 - 2025)
*Tablet *Liquid *Others
Antacid Distribution Channel Outlook (Revenue, USD Million, 2014 - 2025)
*Hospital Pharmacy *Retail Pharmacy *Online Pharmacy
Antacid Regional Outlook (Revenue, USD Million, 2014 - 2025)
*Japan *China *India
*Middle East & Africa
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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|Date:||Aug 14, 2019|
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