Antacids Market will clock a 3.7% CAGR between 2017 and 2025
Rising Geriatric Population Pool Suffering from Gastroesophageal Reflux Diseases stokes Growth
Considering factors such as changing food habits and rising geriatric population globally, the demand for antacids is on a surge. According to the Asian Development Bank, the population that is 60 years and above is projected to touch 923 million by 2050 in Asia. This population that is more likely to suffer from gastroesophageal reflux diseases and peptic ulcers will display substantial demand for antacids in the upcoming years. Some countries in Asia Pacific, such as Japan recorded leading percentage of individuals above the age of 65 years globally in 2014. This is further acting in favor of Asia Pacific antacids market.
Further, increasing incidence of heartburn, gastro esophageal reflux diseases, and acidity along with changing dietary habits are some other key factors behind the growth of antacids market. For instance, as per a study published in Gut (BMJ journal), the percentage of population suffering from gastroesophageal reflux diseases in Europe ranges from 8.8% to 25.9%. This accounts for substantial demand for antacids in the region, with countries in Northern Europe surpassing the demand for antacids over countries in Southern Europe.
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The common practice of self-medication for occasionally occurring heartburn and acidity and easy availability of over the counter drugs for antacids is also stoking the growth of antacids market. Antacids help suppress the stomach acid either by inhibiting acid production or by neutralizing it.
Risk of Side Effects Challenges Growth
On the downside, the global antacids market is facing growth challenges as well. Serious side effects associated with prolong use of proton pump inhibitors and availability of generic drugs in developing and underdeveloped markets is impeding the market’s expansion in these regions. Excessive reliance on over-the-counter drugs is also providing headwinds to this market’s growth.
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The worldwide antacids market is a choc-o-bloc with large companies that hold prominence due to their product offerings and presence across geographies, observes Transparency Market Research (TMR). R&D initiatives for the introduction of novel therapies, improving efficacy of existing drugs are the focus of key players in this market to gain competitive advantage. These players are also seeking strategic partnerships and business alliances to strengthen their research expertise as well as to up their business competencies.
Prominent names in the global antacids market include AstraZeneca, Boehringer Ingelheim GmbH, GlaxoSmithKline plc, Pfizer Inc., Reckitt Benckiser Group plc, Sun Pharmaceuticals Ltd., Valeant Pharmaceuticals International Inc., Bayer AG, Dr. Reddy’s Laboratories Ltd., Johnson & Johnson, Procter & Gamble, Sanofi, and Takeda Pharmaceutical Company Ltd
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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