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Effervescent Tablet Market 2024 - Top Manufactures, Growth Rate, Revenue And Forecast To 2033
Effervescent Tablet Market
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According to The Business Research Company's, The effervescent tablet market size has grown strongly in recent years. It will grow from $33.49 billion in 2023 to $36.82 billion in 2024 at a compound annual growth rate (CAGR) of 10.0%. The growth in the historic period can be attributed to early pharmaceutical innovations, medical advancements, emergence of consumer health trends, consumer convenience and preference, marketing and branding strategies.
The effervescent tablet market size is expected to see rapid growth in the next few years. It will grow to $54.94 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The growth in the forecast period can be attributed to preference for convenient dosage forms, innovation in formulations, consumer demand for novelty, healthcare professional endorsements, demographic shifts. Major trends in the forecast period include market value structure, cost drivers, growth rate, sales channels, technological advancements.
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Market Drivers and Trends:
The increase in the geriatric population is expected to boost the growth of the effervescent tablet market going forward. The geriatric population refers to the percentage of people 65 and older to those between the ages of 18 and 64 who are employed. The rise in the elderly population provides a lucrative market prospect for effervescent tablets, meeting the distinctive healthcare needs and preferences of this demographic with formulation advantages, user-friendly administration, and customization options that render them an attractive choice for effective and convenient healthcare solutions. For instance, in October 2022, according to a report published by the World Health Organization (WHO), a Switzerland-based agency responsible for international public health, one in six people is expected to be 60 or older by the year 2030, in the entire world. In the year 2050, the global population of individuals aged 60 years and older is projected to reach 2.1 billion. The number of persons who are 80 years of age or older will increase by 426 million between 2020 and 2050 compared to the current population. Therefore, the increase in the geriatric population is driving the growth of the effervescent tablet market.
Technological advancements are a key trend gaining popularity in the effervescent tablet market. Major players are concentrating on creating innovative manufacturing technologies to sustain their position in the effervescent tablet market. For instance, in April 2022, Health Innovations Ltd., a UK-based healthcare supplement manufacturing company, launched EfferShield technology. EfferShield is a patent-mated technology used for effervescent pills and powders. It is available in single-use pouches and stick-pack packaging, so consumers have more flexible and convenient packaging options with possibilities for recycling and at-home composting.
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Major Key Players of the Market:
Bayer AG, Hermes Arzneimittel GmbH, GlaxoSmithKline plc, Reckitt Benckiser Group plc, Bristol-Myers Squibb Company, Bliss GVS Pharma Limited, Herbalife International Inc., Amerilab Technologies Inc., Pfizer Inc., Novartis AG, Perrigo Company plc, Chiesi Farmaceutici SpA, SG Biopharm Pvt. Ltd., Advanced Enzyme Technologies Limited, Vovantis Laboratories Pvt. Ltd., Nutrilo GmbH, Tower Laboratories Ltd., Losan Pharma GmbH, American Health, BioVit GMP Laboratories Limited, By-health Co. Ltd., Vitabiotics Ltd., Prestige Brands Inc., Nuun and Company Inc., DMK Group, Amway Corp, GNC Holdings Inc., Sanofi SA, Merck KGaA, Roche Holding AG, Johnson & Johnson, Procter & Gamble Co., Unilever plc, Nestle SA, PepsiCo Inc., The Coca-Cola Company, Dr Reddy's Laboratories Ltd.
Effervescent Tablet Market 2024 Key Insights:
• The effervescent tablet market size is expected to see rapid growth in the next few years. It will grow to $54.94 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%.
• Effervescent Tablets Market Surges Amidst Rising Chronic Disease Prevalence
• Effervescent Tablet Market Surges With Advanced Technologies
• North America was the largest region in the effervescent tablets market share in 2023
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