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The Antacids Global Market sets the stage for continued evolution and growth in the industry. Positive development and trends come backed by a solid compound annual growth rate CAGR of 3.9% from 2023 to 2024 as the market scales from $9.16 billion to $9.52 billion. By 2028, the antacids market is expected to grow further to $11 billion, boasting a CAGR of 3.7% during the forecast period.
The antacids market size is expected to see steady growth in the next few years. It will grow to $11 billion in 2028 at a compound annual growth rate (CAGR) of 3.7%. The growth in the forecast period can be attributed to market competition and industry trends, consumer preferences and brand loyalty, environmental factors and lifestyle changes, emerging health conditions, economic conditions and healthcare spending. Major trends in the forecast period include health consciousness and awareness, technological advancement, consumer preferences for natural remedies, regulatory changes and compliance, rising incidence of digestive disorders.
What will drive the next phase of growth in the global antacids market?
Emergence of prominent lifestyle choices inducing higher prevalence of acidity has become a key driver in the antacids market growth. This includes an ongoing trend of deskbound jobs, poor quality of sleep, and irregular dietary habits. Together, these factors increase the acidity level of the stomach, leading to conditions such as gastroesophageal reflux disease. With around 60 million Americans suffering from gastroesophageal reflux disease, as stated by the American College of Gastroenterology, the demand for antacids in the market is certainly on a rise.
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Who are the major players influencing the global antacids market?
Significant contributions and investments from key industry players have been pivotal in shaping the antacids market. These organizations include Walmart Equate LLC, Private Label, Pfizer Inc, Johnson & Johnson Services Inc., Procter & Gamble Co., Bayer AG, Novartis AG, Sanofi S.A., Bristol Myers Squibb Company, AstraZeneca plc, Abbott Laboratories, GlaxoSmithKline plc, Takeda Pharmaceutical Company Limited, Boehringer Ingelheim GmbH, Reckitt Benckiser Group plc, WellSpring Pharmaceutical Corporation, Xiuzheng Pharmaceutical Group Company Limited, Bausch Health Companies Inc., Sun Pharmaceuticals Industries Ltd., Dr. Reddy's Laboratories Ltd., Hikma Pharmaceuticals plc, Alkem Laboratories Ltd., Conba Group Co. Ltd., Chattem Chemicals Inc., China Resources Sanjiu Medical & Pharmaceutical Co. Ltd., Thornton and Ross Ltd., McNeil Consumer Pharmaceuticals Co., and Advance Pharmaceutical Inc.
What are the emerging trends in the antacids market?
The antacids market is witnessing a new trend of mouth-melting antacids, adding to the traditional forms like tablet, liquid, and powder. These mouth-melting antacids consist of micro-mouth melting granules that easily melt in the mouth, with an effervescent action. A prime example of such a product is Sunpharma's 'Pepmelt', which combines the effects of herbal constituents with the contemporary mouth-melting technology.
What are the key segments of the global antacids market?
The antacids market can be segmented by:
1 Drug Class: Proton Pump Inhibitors, H2 Antagonist, Acid Neutralizers, Pro-Motility Agents
2 Formulation Type: Tablet, Liquid, Powder, Other Formulation Types
3 Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Other Distribution Channels
What is the regional distribution of the antacids market?
North America dominated the antacids market as the largest region in 2023, but it's the Middle East expected to showcase the fastest growth in the global antacids market share. The in-depth report includes analyses of other regions like Asia-Pacific, Western Europe, Eastern Europe, South America, and Africa.
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