Ranitidine Market To Witness a CAGR Of 1.8% Over The Forecast Period 2018 to 2026 By Key Companies GlaxoSmithKline plc, Boehringer Ingelheim GmbH, Strides Pharma Science Limited (StridesShasun), Tocris Bioscience (R & D Systems)

Ranitidine market is expected to witness growth during the forecast period, owing to growing prevalence of gastroesophageal reflux disease (GERD) and stomach and intestinal ulcers, worldwide. For instance, a review study published in the Gut Journal in June 2014, estimated the range of GERD prevalence in global population, in 2014. This study reported GERD prevalence as 18%- 28% in North America, 9%-26% in Europe, 3%-8% in East Asia, 9%-33% in Middle East, 12% in Australia, and 23% in Latin America. According to this statistics, North America and Middle East are at higher risk to develop GERD disease.

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The reason for high prevalence of GERD is not entirely clear, however, it appears to be correlated with increasing prevalence of obesity, and several dietary factors. In obese patients, excess belly fat exert more pressure on the stomach, which causes backflow of acid causing heartburn. Increasing number of obese patients across the globe will indirectly increase GERD cases and this is expected to fuel growth of ranitidine market. According to World Health Organization (WHO), in 2016, over 1.9 billion adults aged 18 years and above were overweight, of which over 650 million were obese, worldwide. Furthermore, GERD is associated with possible risk of Barrett’s esophagus: a premalignant condition that damages the esophagus tube.

However, stringent regulatory guidelines of FDA in the manufacturing of finished drugs will limit growth of ranitidine market. For instance, in March 2018, the Ministry of Food and Drug Safety, South Korea banned the imports of 150 mg Zantac (ranitidine) supplied by GlaxoSmithKline (GSK) Korea, for 4 months (March to June 2018) due to its different shape and coatings. According to the same source, South Korea’s Ministry of Food and Drug Safety report, GSK violated Pharmaceutical Affairs Act by changing the approved shape of Zantac. Zantac is supposed to be white and round with thin film-coatings on both side, while GSK distributed Zantac with thick coated film and also coating around some of the tablets were slightly broken. Changes in color, taste, and packaging might hurt the safety and efficacy of drugs, which directly affects the quality of product.

one of the major challenges in determining prevalence of GERD is to identify the patients’ suffering with the condition. Patients suffering with GERD-related symptoms do not consult healthcare professionals until the symptom gets severe. . Direct costs associated with GERD disease include costs of over-the-counter and prescription medications, physician office and hospital visits, surgical costs, and costs of treating other possible complications such as Barrett's esophagus and esophageal adenocarcinoma, which may result from the disease. This is expected to limit the growth of ranitidine market, over the forecasted period.

"Competitive Landscape"

Key players operating in the global ranitidine market include GlaxoSmithKline plc, Boehringer Ingelheim GmbH, Strides Pharma Science Limited (StridesShasun), Tocris Bioscience (R & D Systems), Merck KGaA, and Sun Pharmaceutical Industries Limited among others.

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Rising Cases of Various Gastric Ulcers and Digestive Diseases is expected to Increase Growth of the market

High prevalence of gastroesophageal reflux disease (GERD), intestinal & stomach ulcers, esophagitis, heartburn, and other digestive diseases due to unhealthy lifestyle, changing dietary patterns will lead to increase in demand for ranitidine-based medications in the near future. According to Florida Hospital, 2018 U.S. data statistics, in the U.S. over 60 million adults suffer from acid reflux symptoms every month. Furthermore, the source states that each day an estimated 25 million of the 60 million adults suffers from acid reflux symptoms. Also, according to the same source, about 20% of people with acid reflux will develop gastroesophageal reflux disease (GERD) in the near future.

Detailed Segmentation:

Global Ranitidine Market, By Strength:
75 mg
150 mg
300 mg

Global Ranitidine Market, By Form:
Tablet
Syrup
Injection

Global Ranitidine Market, By Route of Administration:
Oral
Intravenous

Global Ranitidine Market, By Application:
Intestinal & Stomach Ulcers
Gastroesophageal Reflux Disease (GERD)
Esophagitis
Zollinger-Ellison Syndrome
Other Application

Global Ranitidine Market, By Distribution Channel:
Hospital Pharmacies
Retail Pharmacies
Online Pharmacies

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This release was published on openPR.