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Ranitidine Market To Register a Hugh Growth In Healthcare Industry by 2026 With Top Key Players GlaxoSmithKline plc, Boehringer Ingelheim GmbH, Strides Pharma Science Limited (Strides Shasun), Tocris Bioscience (R&D Systems)

02-26-2019 03:59 PM CET | Health & Medicine

Press release from: Coherent Market Insights - Pharmaceutical Industry

Ranitidine

Ranitidine

Ranitidine is a histamine type 2 (H2) receptor blocker drug available by prescription as well as over-the-counter (OTC). Ranitidine is used in treatment of intestinal & stomach ulcers, gastroesophageal reflux disease (GERD), and erosive esophagitis, and Zollinger-Ellison syndrome. Stomach ulcer or peptide ulcer causes open sores in the inner lining of stomach and upper portion of small intestine. Ranitidine helps to reduce excessive acid production in patient’s stomach. Increasing prevalence of risk factors to cause peptide ulcers in patients such as use of pain relievers, use of certain medications (steroids, low-dose aspirin, combination of selective serotonin reuptake inhibitors (SSRIs) with pain relievers), smoking, excessive alcohol consumption, untreated stress and easting of spicy foods; greatly increases the chance of developing ulcers.

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Market Dynamics

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.

Growing Research and Development (R&D) on Ranitidine is expected to Boost Market Growth

Various government and private research organizations are increasingly engaged in research and development studies to increase the efficacy of ranitidine and examine possible potential of ranitidine to increase future scope of ranitidine market.

Furthermore, various clinical trials are currently undergoing to identify and compare efficacy between ranitidine and other proton pump inhibitors such as esomeprazole and rabeprazole to measure gastric acid reduction in stomach. With the result of these studies, the efficacy of ranitidine is expected to improve and offer better treatment regimes in reducing excessive gastric acid production in the near future.

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.

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Furthermore, 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.

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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Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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