Market Trends of Antacids Industry
Tablet Segment is Expected to Witness Growth Over the Forecast Period
The presence of various chewable tablets in the market with different flavors that help improve patient adherence to the medication is expected to contribute to the segment's growth. Tablets also provide the correct dosage amount 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 compared to other forms.
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 2022 revision, the world may witness a rise in the aging population, which is expected to reach 70 million by 2059. Thus, with the geriatric population increasing globally, the demand for antacids is also expected to increase and fuel the segment's growth.
Furthermore, the major market players focus on research and development activities to bring new and reliable products. 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. Besides, product approval is also contributing to 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. These approvals are predicted to accelerate market growth. As a result of the factors above, the segment is anticipated to increase significantly over the forecast period.
North America is Expected to Hold a Significant Share of the Market Over the Forecast Period
The North American antacids market is expected to grow significantly due to increasing gastroesophageal reflux disease (GERD) and lifestyle changes leading to gastrointestinal problems among the American population.
The 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. In addition, 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 and 40 mg. A histamine H2 receptor blocker is famotidine. It functions by lessening the stomach's acid production. As a result of the factors above, the market under study is anticipated to increase significantly over the forecast period.
Furthermore, according to an article published in the Annals of the Esophagus in March 2022, approximately 40% of the population of the United States annually experience GERD symptoms, with 10-20% of people being affected weekly in the country. Such a high burden of GERD in the country is anticipated to contribute to the overall market growth in the region.
