Antacids Market To Witness Significant Incremental Opportunity During 2022 – 2031 : Fact.MR
Online pharmacies will grow as a prominent sales channel in the antacids market. A marked rise in the popularity of this channel is attributable to consumer-centric deals, such as attractive discounts and home delivery services. There is no permanent panacea for acid reflux and heartburn, which inadvertently is expected to retain consumers’ reliance on antacids.
The sustained rise in the demand for these drugs is encouraging manufacturers to take the research route to introduce effective novel drugs. Market players are disseminating information about the drug launch through the conduction of strategic marketing campaigns to boost their brand recognition. The relevance of these trends, along with futuristic ones, have been assessed in an extensive report published by Fact.MR. Authors of the report portend that, the antacids market will expand at an average CAGR of ~4% during the forecast period (2020-2025).
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Key Highlights of Antacids Market Study
- Consumers’ inclination towards antacid tablets as a preferable formulation is projected to remain high, estimated to account for ~70% of the total share in the antacids market by 2025. Efforts made by manufacturers towards the development of chewable and flavored tablets will increase the demand for tablets during 2020-2025.
- Growing popularity of the self-medication trend and over-the-counter (OTC) availability of antacids are expected to unlock sales streams such as hospital pharmacies and retail pharmacies. Among these channels, retail pharmacies will account for one-third of the total sales generated by 2025.
- Sedentary lifestyles of consumers are leading to numerous cases of heartburn and acidity, given the long work hours and consumption of ready-to-eat meals with high preservatives. This is increasing consumers’ reliance on digestive remedies, and, in turn, thrusting the growth of the antacids market.
- In 2020, Proton Pump Inhibitors are projected to account for ~67% of the total market share, as these are widely acceptable drug classes for treatment of acid reflux. However, increasing information about the negative profile of these drugs is boosting the sales of H2 Antagonist.
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Antacids Market – Segmentation Assessment
The global antacids market is segmented based on
Drug-induced Heartburn to Unfold New Growth Tangents for Market Players
The fragmented antacids market is attracting new entrants, owing to the easy availability of raw materials and low overhead costs. The possibilities of backward integration are extremely remote in the antacids market, given the high concentration of suppliers and low prices of raw materials. This instigates market players to position their brands with effective pricing and product differentiation strategies. Relaxed regulations for over-the-counter drugs have been supporting the distribution efforts of market players by increasing the penetration of antacids through online and offline sales channels.
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Medications such as calcium channel blockers and beta blockers that are meant to relieve blood pressure increase stomach acid, which aggravates heartburn. In addition, bone-strengthening drugs such as bisphosphonates, risedronate, alendronate, and ibandronate that are consumed to treat osteoporosis lead to heartburn. These drugs, are, in turn, increasing the reliance of blood pressure patients on antacids.
In this intensely-competitive antacids market, besides research & development activities, distribution partnerships will bring in long-term growth opportunities.
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