ALBANY, New York, October 12, 2017 /PRNewswire/ --
"Considering the changing dietary habits and growing geriatric
As per estimates of a report by TMR, the global antacids market will clock a 3.7% CAGR between 2017 and 2025 to reach a valuation of US$18.7 bn by 2025 end. Proton pump inhibitors stood as the leading drug class segment in 2016 and the trend is anticipated to continue over the forecast period. The others distribution channel that constitutes online pharmacy and online drug store led the overall market in 2016. Rising popularity of e-commerce and surge in the number of online medicine providers are estimated to positively impact the segment's expansion. Geography-wise, Europe emerged as the most lucrative market for antacids in 2016 due to the rising incidence of gastro esophageal reflux diseases.
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Apart from this, the increasing incidence of heartburn, acidity, and gastro esophageal reflux diseases, and changing lifestyle are stoking growth of the worldwide market for antacids. For instance, according to a study published in Gut (BMJ journal), the prevalence of GERD in Europe ranges from 8.8% - 25.9%. Countries in Northern Europe account for a high prevalence of gastro intestinal and gastro esophageal diseases over countries in Southern Europe.
Self-medication is a common practice for occasional heartburn and acidity and the easy availability of antacids over the counter is also having a positive influence on the market's growth. This is because antacids suppress the stomach acid either by neutralizing it or by inhibiting the acid production in stomach.
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However, on the flip side, prolonged use of proton pump inhibitors are associated with serious side effects such as kidney failure. The availability of generics in emerging and underdeveloped markets and over-reliance on over the counter drugs are inhibiting the market's expansion in these regions.
With a large pool of established players such as AstraZeneca, Bayer AG, Boehringer Ingelheim GmbH, Dr. Reddy's Laboratories Ltd., GlaxoSmithKline plc, Johnson & Johnson, Pfizer Inc., Procter & Gamble, Reckitt Benckiser Group plc, Sanofi, Sun Pharmaceuticals Ltd., Takeda Pharmaceutical Company Ltd., and Valeant Pharmaceuticals International Inc., the worldwide antacids market features a competitive and a fragmented vendor landscape, notes a research report by Transparency Market Research (TMR).
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Development of novel therapies and new formulations of existing drugs is what leading players in this market are concentrating on to gain competitive advantage. Other key growth strategies adopted by key players include strategic acquisitions, collaborations, and partnerships that will not only help them expand their geographical presence but will help strengthen their business position as well.
Global Antacids Market Report is available @ US$ 5795
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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SOURCE Transparency Market Research
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