Global Antacids Market to grow with a CAGR of 3.60 %
Increasing
healthcare infrastructure and a supportive regulatory environment are the major
drivers for the Global Antacids Market.
According
to TechSci Research report, “Global Antacids Market Industry Size, Share,
Trends, Competition, Opportunity and Forecast, 2018-2028”, Global Antacids Market has valued at USD 6.20 billion in
2022 and is anticipated to witness an impressive growth in the forecast period
with a CAGR of 3.60% through 2028. This can be due to collaborations and
partnerships among leading companies with a diverse approach to merge the
expertise of individual companies and to strengthen their position in the
market. Stressful lifestyles can drive the demand for antacids. Stress can have
a significant impact on the gastrointestinal system and contribute to the
development of acid-related disorders, which can lead to an increased need for
antacids. Chronic stress can result in muscle tension, including in the
abdominal area. Muscle tension can affect the proper functioning of the lower
esophageal sphincter (LES), which normally prevents stomach acid from flowing
back into the esophagus. This can lead to acid reflux and discomfort. Individuals
experiencing high levels of stress may resort to unhealthy coping mechanisms,
such as overeating, consuming comfort foods that are often high in fat, or
engaging in excessive alcohol or caffeine consumption. These behaviors can
trigger or worsen acid-related disorders. Stressful lifestyles can lead to
irregular eating schedules or skipped meals. Irregular eating can affect
stomach acid production and digestion, potentially contributing to indigestion.
Stress can make the gastrointestinal system more sensitive to the effects of
stomach acid, leading to an increased risk of experiencing symptoms like
heartburn, acid indigestion, and upset stomach. Work-related stress, especially
in demanding or high-pressure jobs, can be a common trigger for heartburn and
indigestion. The demands of the job, long hours, and irregular breaks can
contribute to these conditions.
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The
market is expected to experience growth due to the development and approval of
several new tablets designed to reduce gastric acid. For example, in August
2022, AstraZeneca received approval for a new tablet formulation that
effectively reduced acid reflux in individuals with blood cancer. This
development is likely to drive market growth, especially considering the
increasing annual diagnoses of cancer patients, which further underscores the
need for interventions in this patient population. In March 2023, Wonderbelly, a pioneering company in
the clean medicine movement with a focus on digestive health, has announced the
launch of its Wonderbelly Antacid chewable tablets in select Target stores and
on Target.com. These tablets are known for their clean ingredients, appealing
taste, and sustainable packaging. Wonderbelly Antacid, the flagship product of
Wonderbelly, which is based in Austin, is an FDA-regulated over-the-counter
remedy that provides immediate and efficient relief from heartburn, acid
indigestion, and sour stomach. It contains the same active ingredient as
leading brands, Calcium Carbonate, and is distinguished by being non-GMO,
vegan, and free from talc, dyes, gluten, dairy, common allergens, synthetic
sweeteners, artificial flavors, and parabens. In addition to addressing the
less-discussed aspects of digestion, such as bloating, burping, and bowel
movements, Wonderbelly is also contributing to the conversation about eating
disorders and prevalent digestive health issues like GERD (chronic acid
reflux), which can significantly impact the digestive system but are often
overlooked.
Market
saturation can be a challenge in the global antacids market. Market saturation
occurs when a product category, in this case, antacids, has reached a point
where most potential customers who would benefit from the product are already
using it, leaving limited room for further expansion. With a limited pool of
potential customers, competition among antacid manufacturers can become very
fierce. Established brands may struggle to gain market share, and new entrants
may find it difficult to establish a foothold. High competition often leads to
price pressure, with manufacturers and retailers lowering prices to attract
cost-conscious consumers. This can impact profit margins and the overall
profitability of the antacids market. Market saturation can make it challenging
for companies to introduce truly innovative products that stand out from the
competition. Manufacturers may be compelled to focus on product differentiation
or branding strategies. Established brands may have strong brand loyalty,
making it difficult for newcomers to gain customer trust and market share. As
the market saturates, attracting new consumers can require substantial efforts
in consumer education. Manufacturers may need to invest in marketing campaigns
to persuade consumers to switch brands or try new products.
Global Antacids Market is segmented based on Type, End-Use,
and by region. Based on the Type, Global Antacids Market is
segmented into Tablet, Liquid,
others. Liquid antacids are a category of over the counter (OTC)
medications used to provide relief from symptoms associated with excessive
stomach acid, such as heartburn, acid indigestion, and upset stomach. These
antacids are formulated as liquid suspensions, and they work by neutralizing or
reducing the acidity in the stomach. Liquid antacids typically contain one or
more active ingredients that are alkaline or basic in nature. Liquid antacids
work by neutralizing or reducing the acidity in the stomach. When ingested, the
active ingredients react with excess hydrochloric acid in the stomach. This
reaction results in an increase in pH, reducing the acidity of the gastric
contents. By doing so, liquid antacids help alleviate the symptoms associated
with acid reflux, including the regurgitation of acidic stomach contents into
the esophagus.
Based on Region, North America held the largest share in the Global Antacids
Market. North America offers a wide range of antacid products, including
established brands and newer, innovative formulations. This variety caters to
diverse consumer preferences. Increasingly, consumers in North America are
looking for antacids with natural ingredients and fewer additives, leading to
the introduction of new, more "natural" antacid products. The region
has a robust regulatory framework that ensures the safety and quality of
pharmaceutical products, including antacids. This fosters consumer trust in the
products available. North America has a relatively high level of disposable
income, allowing consumers to purchase OTC antacids. The ability to afford
these medications contributes to the strong market presence. The region is home
to numerous pharmaceutical companies and research institutions that focus on gastrointestinal
health, leading to product innovation and advancements in antacid formulations.
Some of the major companies
operating in the Global Antacids
Market include:
- GlaxoSmithKline
plc
- Bayer
AG
- Boehringer
Ingelheim International GmbH
- Dr.
Reddy’s Laboratories Ltd.
- Sanofi
SA
- Reckitt
Benckiser Group plc
- Sun
Pharmaceuticals Ltd.
- Takeda
Pharmaceutical Company Limited
- Pfizer
Inc.
- Procter
& Gamble Co.
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“Certain areas, particularly in North
America, are projected to exert significant demand for Antacids. The growth in
the competitive landscape and the presence of well-established companies in the
market, committed to enhance the overall wellbeing of people each year, are
expected to contribute to a remarkable growth of the Global Antacids Market in
the forecast period," said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based Global management consulting firm.
Antacids
Market by
Type (Tablet, Liquid, others), By End-use (Retail Pharmacy, Hospital Pharmacy,
Online Pharmacy), By Region, By Competition Forecast &
Opportunities, 2018-2028F has
evaluated the future growth potential of Global Antacids Market and
provides statistics & information on market size, structure, and future
market growth. The report intends to provide innovative market intelligence and
help decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Antacids Market.
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