NEW YORK, Feb. 20, 2023 /PRNewswire/ -- Major players in the antacids market are GlaxoSmithKline plc, Pfizer Inc., Bayer AG, Dr. Reddy's Laboratories Ltd and AstraZeneca PLC., BoehringerIngelheim GmbH, Sun Pharmaceuticals Industries Ltd, Takeda Pharmaceutical Company Limited, Abbott Laboratories and WellSpring Pharm.
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The global antacids market will grow from $9.19 billion in 2022 to $9.56 billion in 2023 at a compound annual growth rate (CAGR) of 4.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The antacids market is expected to grow to $10.65 billion in 2027 at a CAGR of 2.7%.
The antacids market consists of sales of Alka Seltzer, Maalox, Mylanta, Rolaids, Tums, and Pepto-Bismol.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The antacids drugs refer to the drugs that are used to neutralize stomach acid, and treat acid reflux, heartburn, and indigestion.Antacids are medications that counteract (neutralise) your stomach's acid to ease heartburn and indigestion.
They are available without a prescription from pharmacies and stores and come in liquid or chewable tablet form. It includes drug classes such as proton pump inhibitors, H2 antagonists, surgical simulators, and acid neutralizers in the form of tablet, liquid, or powder.
North America was the largest region in the antacids market in 2022.Middle East is expected to be the fastest growing region.
The regions covered in the antacids market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main classes of antacids are proton pump inhibitors, h2 antagonists, acid neutralizers, and pro-motility agents.Proton-pump inhibitors are a type of drug that reduces stomach acid production significantly and for a long time.
They accomplish so by blocking the H+/K+ ATPase proton pump in the stomach in an irreversible manner. The different types of formulations include tablet, liquid, powder, and others and are distributed through various channels such as hospital pharmacies, retail pharmacies, and others.
Poor lifestyle choices resulting in a higher prevalence of acidity are an important driver for the growth of the antacids market.Poor lifestyle choices involve deskbound jobs, poor quality of sleep, and irregular dietary habits, which result in an increase in the acidity level of the stomach and lead to gastroesophageal reflux disease.
According to the American College of Gastroenterology, around 60 million Americans suffer from gastroesophageal reflux disease. This drives the demand for antacids.
The side effects related to antacids are a major restraint for the antacids market.Some of the common side effects of antacids include dose-dependent rebound hyperacidity and milk-alkali syndrome.
Antacids containing aluminum hydroxide may also cause side effects such as constipation, aluminum-intoxication, osteomalacia, and hypophosphatemia. In addition, antacids when consumed with other acidic drugs might lead to absorption of both the drugs resulting in reduced efficiency of both the drugs.
Mouth-melting antacid is an emerging trend in the antacid market.Antacids were available in tablet, liquid, and powder form until now; however, researchers have now come up with mouth-melting antacids which are made up of micro-mouth melting granules that easily melt in the mouth.
These granules present in the antacids act in the form of effervescent. An example of a mouth-melting instant relief antacid is Sunpharma's 'Pepmelt', which integrates the effects of herbal constituents present in it with the contemporary mouth-melting technology.
The manufacturers of antacids in the USA need to comply with CFR - Code of Federal Regulations Title 21 laid down by the FDA. According to these regulations, an over-the-counter (OTC) antacid product in a form suitable for oral administration is recognized as safe and effective only if it meets the conditions related to active ingredients established by the regulatory body.
The countries covered in the antacids market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The antacids market research report is one of a series of new reports that provides antacids market statistics, including antacids industry global market size, regional shares, competitors with an antacids market share, detailed antacids market segments, market trends, and opportunities, and any further data you may need to thrive in the antacids industry. This antacids market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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