Global Antacids Market Size, Share & Industry Trends Analysis Report By Formulation Type (Tablets, Liquids and Others), By Mechanism of Action (Non-systemic and Systemic), By Distribution Channel, By Regional Outlook and Forecast, 2023 - 2029
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Get in-depth analysis of the COVID-19 impact on the Antacids Market
Market Report Description
The Global Antacids Market size is expected to reach $7.9 billion by 2029, rising at a market growth of 3.2% CAGR during the forecast period.
Antacids are widely used in the form of tablets as it is a preferred option for consumers due to their accessibility, convenience, and variety of flavors and formulations, hence tablets category generated $3,249 million in 2022. The prevalence of GERD in the US was estimated to be around 18.1-27.8% in 2022, as reported by the National Library of Medicine. In addition, the National GI Survey revealed that a sizable percentage of individuals experience GERD episodes twice a week, with many patients displaying the symptoms at least once a week. Some of the factors impacting the market are increased consumption of fast food causes digestive disorders like indigestion, Rapidly Increasing Geriatric Population Globally and Increasing availability of improved medications.
Due to the growing incidence of gastrointestinal symptoms, such as heartburn and acid reflux, among COVID-19 patients, the antacids sector saw a rise in demand. However, Because of the lockdowns and trade and movement restrictions, it was challenging for manufacturers to transport finished goods and procure raw materials, which resulted in a decline in supply and a rise in demand for antacids. This had a considerable supportive effect on the industry.
Fast food consumption has considerably expanded on a worldwide basis. Both allergies and obesity are associated with frequent fast-food intake. Therefore, as the consumption of fast foods is increasing rapidly among all age groups, it will increase the prevalence of stomach and digestive issues. This will significantly boost the growth of the market. By the year 2030, one out of every six people will be at least 60 years old. Over 60s will make up 1.4 billion individuals by this time, up from 1 billion in 2020. By 2050, there will be twice as many persons aged 60 or older, and it will reach a staggering 2.1 billion. Therefore, the market growth is anticipated to soar in the anticipated period due to the condition's higher prevalence among the elderly. However, H2 receptor antagonists and proton pump inhibitors (PPIs) are two examples of newer, more potent treatments for acid-related illnesses that are posing a challenge to the industry.
Mechanism of action Outlook
Based on mechanism of action, the market is characterized into systemic antacids and non-systemic antacids. The systemic antacids segment procured a considerable growth rate in the market in 2022. These antacids, like sodium bicarbonate, generate systemic alkalosis and are soluble and resorbable. The effervescence of bicarbonate shows an abundance of painkiller/antacid combos. In addition, these chemicals produces carbon dioxide when it reacts with the hydrochloric acid in the stomach; it is quickly absorbed but can occasionally result in a pleasant burp. The easy availability of these types of antacids is propelling the growth of the market.
Distribution Channel Outlook
By distribution channel, the market is divided into hospital pharmacies, drug stores & retail pharmacies, and online providers. The drug stores & retail pharmacies segment witnessed the maximum revenue share in the market in 2022. Due to the convenience these establishments provide for customers and the widespread availability of antacids, the drug stores & retail pharmacies sector led the market. Additionally, many people choose to buy over-the-counter antacids for occasional indigestion or heartburn rather than wanting a prescription drug or medical intervention, which furthers the segment's growth.
Formulation Type Outlook
On the basis of formulation type, the market is classified into tablets, liquids, and others. The tablets segment acquired the largest revenue share in the market in 2022. The market's major players provide an assortment of antacid tablet products. Furthermore, the creation and introduction of chewable antacid pills have also increased the demand for tablets. All these factors are boosting the expansion of the segment.
|Market size value in 2022||USD 6.3 Billion|
|Market size forecast in 2029||USD 7.9 Billion|
|Historical Period||2019 to 2021|
|Forecast Period||2023 to 2029|
|Revenue Growth Rate||CAGR of 3.2% from 2023 to 2029|
|Number of Pages||197|
|Number of Table||340|
|Report coverage||Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling|
|Segments covered||Formulation Type, Mechanism of Action, Distribution Channel, Region|
|Country scope||US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria|
Region wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment procured the highest revenue share in the market in 2022. The expansion in North America is linked to the region's accessible, highly developed healthcare system, the presence of the most important players, the rise in cases of heartburn, and the simplicity of obtaining over-the-counter medications. Additionally, GERD, gastritis, and peptic ulcer disease are very common in the United States and other major North American nations, which increases the demand for antacid medications.
Free Valuable Insights: Global Antacids Market size to reach USD 7.9 Billion by 2029
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Abbott Laboratories, Alkem Laboratories Ltd., Bayer AG, Cipla Limited, Pfizer, Inc., Prestige Consumer Healthcare, Inc., Reckitt Benckiser Group PLC, WellSpring Pharmaceutical Corporation (Avista Capital Partners), Sanofi S.A. and Sun Pharmaceutical Industries Ltd.
Scope of the Study
Market Segments Covered in the Report:
By Formulation Type
By Mechanism of Action
By Distribution Channel
- Drug Store & Retail Pharmacies
- Hospital Pharmacies
- Online Pharmacies
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Abbott Laboratories
- Alkem Laboratories Ltd.
- Bayer AG
- Cipla Limited
- Pfizer, Inc.
- Prestige Consumer Healthcare, Inc.
- Reckitt Benckiser Group PLC
- WellSpring Pharmaceutical Corporation (Avista Capital Partners)
- Sanofi S.A.
- Sun Pharmaceutical Industries Ltd.
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What would be the value of this Market by 2029?
The Market size is projected to reach USD 7.9 billion by 2029.
What are the key driving factors and challenges in this Market?
Rapidly Increasing Geriatric Population Globally are driving the Market in coming years, however, Increasing availability of improved medications restraints the growth of the Market.
What are the major top companies in the competitive landscape?
Abbott Laboratories, Alkem Laboratories Ltd., Bayer AG, Cipla Limited, Pfizer, Inc., Prestige Consumer Healthcare, Inc., Reckitt Benckiser Group PLC, WellSpring Pharmaceutical Corporation (Avista Capital Partners), Sanofi S.A. and Sun Pharmaceutical Industries Ltd.
Which segment shows a high revenue share of this Market in 2022?
The Non-systemic segment acquired maximum revenue share in the Market by Mechanism of Action in 2022 thereby, achieving a market value of $5.5 billion by 2029.
Which region dominated the Market in 2022?
The North America market dominated the Market by Region in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $2.9 billion by 2029.