The
global Antacid Market size
is expected to reach USD 7.91 billion by 2025, according to a new report by
Grand View Research, Inc. It is projected to expand at a CAGR of 3.9% over the
forecast period. The trend of self-medication for occasional heartburn is one
of the major factors driving the market.
Growing
geriatric population is expected to positively impact the overall market for
antacid. According to the United Nations Department of Economic And Social
Affairs (DESA), the global elderly population (60 years and above), was around
962 million in 2017. This number is expected to grow at the fastest rate in
Latin America with 71% increase in population aged 60 and over, followed by
Asia with 66%, Africa with 64%, North America with 41%, and Europe with 23%.
Key
players operating in antacid market focus on product enhancement to cater to
patient requirements, such as changing the dosage form into chewable tablets,
powder, and jelly. Also, these players are involved in collaborations and
acquisitions to expand their market presence. For instance, in 2017, Pfizer,
Inc. entered into a strategic agreement with AstraZeneca to acquire one of the
antacid brands, Neksium for a value of INR 75 crores in India to boost its
product portfolio.
The
easy availability of antacids over-the-counter offer growth opportunities for
the sales of overall market. Some of the key players areGlaxoSmithKline plc;
AstraZeneca; Pfizer, Inc.; Sun Pharmaceuticals Industries Ltd.; Dr. Reddy’s
Laboratories Ltd.; Bayer AG; Takeda Pharmaceutical Company Limited.
Browse
Details of Report @
https://www.grandviewresearch.com/industry-analysis/antacids-market
https://www.grandviewresearch.com/industry-analysis/antacids-market
Further key findings from the report suggest:
- In 2017,
tablet segment led the antacid market due to high efficacy compared to
other dosage forms. Liquid is anticipated to be the fastest growing
segment due to its palatable taste and preferred choice for children and
elderly population
- Retail
pharmacy led the distribution channel segment due its accessibility and
availability. Online pharmacy is anticipated to be the fastest growing
segment due to growing adoption of Pharma 3.0 and consumer awareness
- Asia Pacific
is estimated to be the largest and fastest growing region over the
forecast period due to presence of key players such as GlaxoSmithKline
plc; Pfizer Inc.; and Abbott among others
- North
America held the second largest market share in 2017 owing to increasing
prevalence of different digestive disorders
- Some of the
key companies operating in this market are GlaxoSmithKline plc; Bayer AG;
Boehringer Ingelheim International GmbH; Dr. Reddy’s Laboratories Ltd.;
Reckitt Benckiser Group plc; Sun Pharmaceuticals Ltd.; Sanofi; Takeda
Pharmaceutical Company Limited; Pfizer Inc.; and Procter & Gamble.
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
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