Antacids Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Antacids Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The antacids market is expected to register a healthy CAGR of nearly 3.7% during the forecast period (2022 - 2027).

Market expansion was hampered by declining production, a lockdown, and a labor shortage during the COVID-19 epidemic. The prices were more expensive than normal. But because of the rising demand for new antacids and other medications, the synthetic biology market had a favorable effect on the market. This significantly increased the revenue of the market under study. The COVID-19 pandemic caused a transient spike in antacid sales, which led to panic buying among individuals who had serious medical conditions like obesity and gastroesophageal reflux disease. Additionally, it was shown that various gastrointestinal medications were successful in enhancing the clinical results of COVID-19 patients who were hospitalized. For instance, patients who received the antacid famotidine (Pepcid) were twice as likely to survive the illness, according to a study by Daniel E. Freedberg that was published in the Medical Journal in May 2020. 332, or 22%, of the 1,536 trial participants who were not receiving famotidine either died or required intubation and a ventilator. 8, or 10 %, of the 84 patients receiving famotidine passed away or had to be put on a ventilator. The use of these medications with the appropriate scientific study support could boost demand in the market under investigation.

The propelling factors for the growth of the antacids market include the growing geriatric population suffering from Gastroesophageal Reflux Disease (GERD), poor lifestyle choices leading to higher incidences of acidity, and side effects of drugs like non-steroidal, anti-inflammatory drugs. According to a United Nations World Ageing 2019 report, in 2019, there were around 703 million people aged 65 years or over globally. This number is projected to double to 1.5 billion in 2050. Globally, the share of the population aged 65 years or over increased from 6% in 1990 to 9% in 2019, and 65% of the geriatric population has to deal with acid reflux.

Similary, a report was released in May 2021 by the United States Department of Health and Human Services' Administration on Aging (AoA), a branch of the Administration for Community Living. According to a report titled "2020 PROFILE OF OLDER AMERICANS," there were 54.1 million people 65 and older in the United States in 2019 and that number is expected to rise to 94.7 million by 2060. As a result, the market growth is anticipated to expand due to the growing elderly population's propensity for GERD.

There has been an increase in the geriatric population and this is one of the most favorable growth factors for the antacids market as the demographic is highly vulnerable to peptic ulcers and gastroesophageal reflux disorders. Numerous study publications have been released to shed light on the connection between GERD disease and the ageing population. For instance, GERD is increasingly prevalent as patients age, with a prevalence of at least 20% in the outpatient context, according to a study article published in January 2020 titled "GERD and the Elderly Patient: Clinical Considerations." As a result, the ageing population is projected to experience an increase in GERD, which will lead to an increase in demand for antacids and further market expansion.

According to a research report published in November 2021 titled "Prevalence of Gastroesophageal Reflux Disease and Associated Risk Factors in the Eastern Region, Saudi Arabia," the prevalence of GERD was 20.6% in this area of Saudi Arabia. Numerous sociodemographic and lifestyle factors were linked to the illness. Therefore, rising prevalence would boost antacid demand and support market expansion. The studied market is therefore anticipated to experience significant expansion over the course of the projected period as a result of the aforementioned factors.

Furthermore, recent developments by key market players are another factor in market growth. For instance, in October 2020, Dr. Reddy's laboratories re-launched the over-the-counter (OTC) Famotidine Tablets USP, 10 mg and 20 mg in the United States market. Similarly, in March 2020, Lupin launched the authorized generic for Horizon Therapeutics PLC's Vimovo (naproxen/esomeprazole magnesium) delayed-release tablets in the United States. The product is a combination of naproxen, and esomeprazole magnesium, in which naproxen is used for symptomatic relief of arthritis and esomeprazole magnesium to decrease the risk of developing naproxen-associated gastric ulcers.

However, the growing number of alternatives available in the market to antacids and the ignorance of people towards the symptoms of acidity is expected to have an adverse impact on the market growth.

Key Market TrendsThe Tablet Segment is Expected to be the Major Contributor to the Market Over the Forecast Year

The presence of a variety of chewable tablets in the market with different flavors that help to improve patient adherence to the medication is expected to contribute to the growth of the segment. Tablets also provide the correct amount of dosage to the patients and they are easy to store. These factors can be attributed to the segment growth over the forecast period. Tablets are the most widely used solid dosage forms as it is the cheapest oral dosage form, and easy to handle, use and carry. Additionally, the growing geriatric population is expected to drive market growth as the elderly population is more prone to gastrointestinal disorders. According to the data from the World Population Prospects, 2019 revision, by 2050, 1 in 6 people in the world may be over the age of 65 years (16%), an increase from one in 11 in 2019 (9%), globally.

Furthermore, the major market players are focusing on research and development activities, to bring new and reliable products to the market.​ For instance, Generic Chlordiazepoxide Hydrochloride and Clidinium Bromide capsules for the treatment of stomach ulcers, irritable bowel syndrome, and colon inflammation were introduced to the United States market by Dr. Reddy's Laboratories in August 2021. Also, in January 2019, Dr. Reddy’s laboratories launched generic omeprazole delayed-release tablets for the treatment of heartburn in the United States.

Besides product approval is also contributing to the market growth. For instance, glycopyrrolate orally disintegrating tablets (Dartisla ODT; Edenbridge Pharmaceuticals) were approved by the United States Food and Drug Administration (FDA) in December 2021 to treat peptic ulcers and lessen their symptoms. By bringing superior items to the market, these approvals are predicted to accelerate market growth. As a result of the aforementioned factors, the market under study is anticipated to increase significantly over the forecast period.

North America Holds the Major Market and is Expected to Follow a Similar Trend over the Forecast Period

The North American antacids market is expected to grow significantly due to the growing geriatric population and lifestyle changes leading to gastrointestinal problems among the American population. Also, the growing trend toward self-medication in North American countries such as the United States is increasing the demand for over-the-counter digestive products, such as antacids. Antacids are the most common over-the-counter products purchased in the United States. Some of the antacid brands in the country include Nexium 24 hours, Prilosec OTC, Zantac 150, and Tums.

One of the main elements influencing market expansion is product approval. For instance, the United States Food and Drug Administration (FDA) gave Zydus Lifesciences final approval in June 2022 to market Famotidine tablets in strengths of 20 mg and 40 mg. A histamine H2 receptor blocker is famotidine. It functions by lessening the stomach's acid production. As a result of the aforementioned factors, the market under study is anticipated to increase significantly over the forecast period.

Competitive Landscape

The antacids market is moderately competitive and the overall market faces intense competition over the forecast period due to the presence of multinational players and small to medium-sized companies entering the market. The major players in the studied market are Johnson and Johnson, Haleon, Sanofi S.A., Bayer AG, and Sun Pharmaceuticals Ltd among others. The key players have adopted strategies such as strategic acquisitions, collaborations, and partnerships, that will help them expand their geographical presence and will strengthen their business position as well.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.