LAMEA 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 Country and Growth Forecast, 2023 - 2029
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Market Report Description
The Latin America, Middle East and Africa Antacids Market would witness market growth of 5.1% CAGR during the forecast period (2023-2029).
A significant risk factor for GERD is obesity. Hiatal hernias are caused when excess abdominal fat presses on the stomach, which in turn causes stomach acid to leak into the food pipe. In addition, people who are obese have a higher risk of acid reflux because their lower esophageal sphincter (LES) relaxes to a greater extent. Acidity or gastroesophageal reflux disease (GERD) affects a large proportion of obese people and people with high BMIs. In addition to gastroesophageal reflux disease (GERD), obesity is linked to a wide variety of disorders, the treatment for which may involve the use of over-the-counter drugs such as antacids.
Bad eating practices, sedentary lifestyles, and frequent use of drugs to control high blood pressure are a few of the factors contributing to the rise in antacid demand. As a result, market players are spending a lot of money on research and development projects to distinguish their products by creating powerful antacids. Manufacturers present in the market are adopting newer drug formulation approaches in the form of chewable and flavored pills, which are focused on the needs of the consumer.
The percentage of overweight or obese adults and children in Israel has increased. Obesity affects 13.7% of persons over 18, while overweight affects 34% of the nation. Obesity develops when there is an imbalance between the calories consumed and the energy expended during activity. High-calorie fast food, bigger portions, and the affordability of high-calorie meals are the usual sources of excess calories. At the same time, less physical activity has been reported as a result of individuals spending more time watching television, operating computers, and utilizing other electronics. In addition, the number of individuals with digestive tract issues is predicted to rise due to rising obesity for a variety of causes, which will also accelerate market growth in the region.
The Brazil market dominated the LAMEA Antacids Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $136.4 Million by 2029. The Argentina market is experiencing a CAGR of 5.7% during (2023 - 2029). Additionally, The UAE market would display a CAGR of 4.8% during (2023 - 2029).
Based on Formulation Type, the market is segmented into Tablets, Liquids and Others. Based on Mechanism of Action, the market is segmented into Non-systemic and Systemic. Based on Distribution Channel, the market is segmented into Drug Store & Retail Pharmacies, Hospital Pharmacies and Online Pharmacies. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Antacids Market is Projected to reach USD 7.9 Billion by 2029, at a CAGR of 3.2%
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
- Tablets
- Liquids
- Others
By Mechanism of Action
- Non-systemic
- Systemic
By Distribution Channel
- Drug Store & Retail Pharmacies
- Hospital Pharmacies
- Online Pharmacies
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- 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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