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Ranitidine Market to Perceive Substantial Growth During 2018–2026 By Top Emerging Key Players GlaxoSmithKline plc, Boehringer Ingelheim GmbH, Strides Pharma Science Limited (Strides Shasun), Tocris Bioscience

05-28-2019 04:41 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.

Furthermore, higher efficacy and tolerability of ranitidine in suppression of stomach & intestinal ulcers is increasing the adoption of ranitidine-based medication in the market.

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. For instance, in November 2015, a study to compare the efficacy of rabeprazole extended release (ER) 50 mg versus ranitidine 150 mg in treating erosive gastroesophageal reflux disease (eGERD) is currently in Phase III clinical stage.

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.

Heartburn with or without regurgitation is identified as one of the prime symptoms of gastroesophageal reflux disease (GERD). According to World Gastroenterology Organization (WGO), 2015, prevalence of GERD is rapidly increasing worldwide, with differences reported in prevalence ranging from 2.5% to 6.6% in Eastern Asia while slightly higher up to 13.8% to 25.8% in North America.

Key Companies

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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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.

About Coherent Market Insights:

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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