Antacid Market 2019: Report Highlights the Competitive Scenario with Impact of Drivers and Challenges 2028
Antacids are the substances which reduce gastric acidity, resulting in increase in the pH of stomach and duodenum. Gastric acidity occurs due to excessive secretion of HCl in stomach. Antacids are the group of drugs used to neutralize the excess gastric HCl associated with gastritis or peptic ulcer. Antacids are oral medicines which is administered to get relieve from heartburn, sour stomach, or acid indigestion. Antacids medicines generally include aluminium hydroxide, magnesium carbonate and magnesium trisilicate.
Increasing geriatric population around world is the key factor driving the global antacid market. According to data from World Population Prospects 2017, the number of older persons those aged 60 years or over are 962 million globally in 2017 comprising about 13 percent of the global population, which is expected to be more than double by 2050 accounting for nearly 2.1 billion in 2050.
According to World Health Organization 2017, more than $10 billion spent worldwide each year on antacids. According to World Gastroenterology Organization, the prevalence of GERD is increasing worldwide ranging from nearly 2.5% to 6.6% in Eastern Asia and nearly 13.8% to 25.8% in North America. Antacids are a group of medicines which help in neutralise the acid content of stomach. Its symptoms include discomfort or a burning sensation in the upper portion of the stomach, nausea, abdominal bloating, or belching.
The global antacid market is segmented into, drug class, formulation type, distribution channel and region. On the basis of region, market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America dominates in the global market for antacid, due to drastic changing dietary habits of people, in countries in this region. Asia Pacific market is an emerging market for antacid, due to increasing aging population. As per statistics of the Asian Development Bank, the population of individuals above the age of 60 years in Asia is projected to touch 923 million by 2050.
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Global Antacid Market Segmentation:
On the basis of drug class:
- Proton pump inhibitors
- H2 antagonist
- Acid neutralizers
On the basis of formulation:
On the basis of distribution channel:
- Hospital pharmacy
- Retail pharmacy
- Others (including online platform, specialty store, grocers, general stores etc.)
Key players operating in the global antacids market include, AstraZeneca plc., Bayer AG, Boehringer Ingelheim GmbH, Dr. Reddy’s Laboratories Ltd., GlaxoSmithKline plc., Pfizer Inc., Procter & Gamble Company, Sun Pharmaceuticals Ltd., Takeda Pharmaceutical Company Ltd., and Sanofi-Aventis LLC.