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Antacids Market will Clock a 3.7% CAGR Between 2017 and 2025
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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.
As per estimates of a TMR report, the global antacids market will expand at CAGR of 3.7% for the forecast period between 2017 and 2025, for the market to be worth US$18.7 bn by 2025 end. Based on drug class, proton pump inhibitors held the leading share in the market in 2016. By distribution channel, others that constitutes online drug store and online pharmacy led the market in 2016. Europe held supremacy among other key regional markets in 2016 because of rising incidence of gastro esophageal reflux diseases.
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.
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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.
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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