Antacids Market Report 2024 by Delvens offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance, The Antacids market size was estimated at USD 7.3 billion in 2023 and is projected to reach USD 10.30 billion in 2030 at a CAGR of 5.04% during the forecast to 2030.
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The prominent players in the Antacids market are
· Aurobindo Pharma
· Bayer AG
· Boehringer Ingelheim International GmbH
· Bristol Myers Squibb Company
· Cipla Inc
· Dr. Reddy’s Laboratories Ltd.
· F. Hoffmann-La Roche Ltd
· Fresenius Kabi AG
· GSK Plc.
· Hikma Pharmaceuticals PLC
· Lupin
· Mylan N.V.
· Novartis AG
· Pfizer Inc
· Procter & Gamble
Antacids are over-the-counter medications commonly used to alleviate symptoms of heartburn, acid reflux, and indigestion. They work by neutralizing excess stomach acid, which can cause discomfort and irritation in the oesophagus and stomach.
Antacids contain compounds such as aluminium hydroxide, magnesium hydroxide, calcium carbonate, or sodium bicarbonate, which react with stomach acid to form water and salt, thereby reducing acidity. They provide relatively rapid relief from symptoms like burning sensation in the chest or throat. However, it’s important to note that antacids are not a long-term solution for chronic conditions like gastroesophageal reflux disease (GERD) or ulcers.
The market is being driven by various factors. Firstly, the rising awareness about GERD is expected to boost market growth. Moreover, the rising geriatric population is also contributing to the growth of the market as more that 65% of the geriatric population suffers from acid reflux.
In addition, surging focus on improving the condition of healthcare facilities and improving the overall healthcare infrastructure is another important factor fostering the growth of the market. he rising number of partnerships and strategic collaborations between the public and private players pertaining to funding and application of new and improved technology is further creating lucrative market opportunities.
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The Antacids market is expected to grow during the forecast period. This growth can be attributed to various factors. Firstly, acid reflux disease is a common condition that causes heartburn and other symptoms. The prevalence of acid reflux disease is increasing which is driving the demand for antacids. Moreover, there is an increasing awareness of good oral health.
This is driving the demand for antacids, as they can be used to treat heartburn and other conditions that can damage teeth and gums. In addition, OTC medications are becoming increasingly popular, as they are more convenient and affordable than prescription medications. This is also expected to drive the demand for antacids. However, antacids can have side effects such as constipation and diarrhoea. This can deter some people from using antacids.
Key Findings of Antacids Market:
· Based on type, the market is segmented into sodium antacids, calcium antacids, magnesium antacids aluminium antacids, others. Sodium antacids dominated the market in the segment. This is because sodium antacids are the most common type of antacid. They work by neutralizing stomach acid. Sodium antacids include Tums, Rolaids, and Maalox.
· Based on indication, the market is bifurcated into gastroesophageal reflux disease, heartburn, indigestion, others. Heartburn dominated the market in this segment as it is the most common indication for antacids. It is caused by the stomach acid backing up into the oesophagus. Antacids work by neutralizing stomach acid, which can help to relieve heartburn.
· Based on dosage form, the market is segmented into tablets, liquid, others. The presence of a variety of chewable tablets in the market with different flavours that help to improve patient adherence to the medication is expected to contribute to the growth of the segment.
· Based on end users, the market is segmented into hospitals, homecare, speciality centres, others. Hospitals dominated the market in this segment. This is due to the fact that they are the primary providers of care for patients who are being treated for acid reflux disease or other conditions that require antacids.
· Based on distribution channel, the market is segmented into hospital pharmacy, online pharmacy, retail pharmacy. Retail pharmacies dominated the market in this segment as they sell over-the-counter (OTC) antacids, as well as prescription antacids.
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