Ranitidine Market To Find Better Growth with US$ 485.4 Million By 2026 | CAGR: 1.8%: Coherent Market Insights
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The Global Ranitidine Market, by Strength (75 mg, 150 mg, and 300 mg), by Form (Tablets, Syrup, and Injection), By Route of Administration (Oral and Intravenous), by Application (Intestinal & Stomach Ulcers, Gastroesophageal Reflux Disease (GERD), Esophagitis, Zollinger-Ellison Syndrome, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa), was valued US$ 412.4 Mn in 2017 and is projected to exhibit a CAGR of 1.8% over the forecast period (2018 – 2026).
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Major players in the ranitidine market are focused on gaining regulatory approvals for generic formulations of ranitidine. For instance, in August 2010, Aurobindo Pharma received the U.S. Food and Drug Administration (FDA) approval to sell generic version of ranitidine syrup in the U.S. Aurobindo Pharma’s ranitidine syrup is the generic version of GlaxoSmithKline’s Zantac syrup. In August 2018, Granules India Limited received the U.S. FDA approval for Ranitidine HCL 150mg tablets and 150 mg Cool Mint (OTC). This product is bioequivalent to Sanofi-aventis’ 150 mg Zantac tablets.
Browse Market Data Tables and 25 Figures spread through 145 Pages and in-depth TOC on “Ranitidine Market, by Strength (75 mg, 150 mg, and 300 mg), by Form (Tablets, Syrup, and Injection), by Route of Administration (Oral and Intravenous), by Application (Intestinal & Stomach Ulcers, Gastroesophageal Reflux Disease (GERD), Esophagitis, Zollinger-Ellison Syndrome, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies),- Global Forecast to 2026”
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Major strategies such as collaboration and joint venture are adopted by major players to launch new ranitidine-based products, which is expected to fuel the ranitidine market growth. For instance, in September 2013, Boehringer Ingelheim GmbH launched Captain Zantac, a new marketing campaign for Boehringer Ingelheim Consumer Health Care’s Zantac brand. Captain Zantac is Boehringer Ingelheim Consumer Health Care’s novel 360-degree brand equity campaign, which includes national television advertising and several other promotional campaign through print, online, and retail channels. In May 2017, Strides Pharma Science Limited (Strides Shasun) and Vivimed Labs signed a definitive agreement to set 50:50 joint venture to launch ranitidine tablet 150 mg in the U.S. In February 2018, Strides Shasun launched Ranitidine Tablets USP, 150 mg in the U.S. market. Furthermore, in March 2018, company launched Ranitidine Tablets USP, 75 mg in the U.S. market. The new launch will strengthen Strides’ ranitidine portfolio in the U.S. ranitidine market.
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Key takeaways of Ranitidine Market:
- The global ranitidine market is expected to exhibit a CAGR of 1.8% during the forecast period (2018 – 2026). This is attributed to high prevalence of digestive diseases, worldwide, which includes gastroesophageal reflux disease (GERD), intestinal and stomach ulcers, esophagitis, and Zollinger-Ellison syndrome, among others.
- Among strength, 150 mg segment accounted for the largest market share in 2017. For stomach or intestinal ulcer and GERD, 150 mg dose twice daily or 300 mg dose at bedtime is normally consumed. 150 mg segment holds dominant position in the market, however, 75 mg, 150 mg, and 300 mg medications are chose based on the patient’s therapeutic condition.
- Among form, tablet segment holds major market share due to its convenience and portability of tablet during daily routine
- Among route of administration, oral segment held largest market share when compared to intravenous, as intravenous administration requires prescription of healthcare professionals. Ranitidine can be consumed in the form of tablet or syrup, orally.
- Among application, intestinal and stomach ulcers segment accounted for the largest market share in 2017, as stomach or intestinal ulcers are the most common type of ulcers associated with painful sores in the stomach lining, affecting stomach and small internes.
- Among distribution channel, retail pharmacies segment accounted for the largest market share in 2017. Retail pharmacies act as a key channel in distribution of ranitidine medication to patients’ suffering with digestive diseases.
- Key players operating in global ranitidine market include GlaxoSmithKline plc, Boehringer Ingelheim GmbH, Strides Pharma Science Limited (Strides Shasun), Tocris Bioscience (R & D Systems), Merck KGaA, and Sun Pharmaceutical Industries Limited among others
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