Antacids Market Size to Reach USD 10.9 Billion by 2032 growing at 4.8% CAGR - Exclusive Report by Acumen Research and Consulting

The Antacids market, valued at USD 7.2 Billion in 2023, is projected to surpass USD 10.9 Billion by 2032, indicating a robust CAGR of 4.8% Antacids are medications used to neutralize stomach acid and provide relief from symptoms of acid-related conditions such as heartburn, indigestion, and gastroesophageal reflux disease (GERD). They work by increasing the pH balance in the stomach, thereby reducing the acidity that causes discomfort. Common antacids contain compounds like magnesium hydroxide, calcium carbonate, or aluminum hydroxide. They are available over-the-counter in various forms, including tablets, liquids, and chewables. Beyond providing symptomatic relief, antacids can also help in preventing ulcers and managing chronic acid-related conditions. The rising awareness about GERD is expected to boost the antacids market. Additionally, the International Foundation for Functional Gastrointestinal Disorders (IFFGD) encourages patients experiencing GERD-related symptoms to consult their doctors. Furthermore, the increasing prevalence of acid reflux is projected to impact the market in the coming years.  However, the antacids market faced challenges due to side effects and long-term health risks associated with their use. On the other hand, innovations in antacid formulations and delivery systems have driven product development within the market. Antacids Market Statistics The global antacids market, valued at USD 7.2 billion in 2023, is expected to experience a strong CAGR of over 4.8% from 2024 to 2032 North America leads the market with substantial revenue of USD 3.2 billion in 2023 The Asia-Pacific region is projected to see impressive growth, with a forecasted CAGR of 5.6% Proton pump inhibitors were the leading drug class in 2023, holding a significant market share In terms of formulation type, tablets achieved a notable share in 2023 A discernible trend in the antacids market is technological advancements in antacid formulations Access Table Of Content: https://www.acumenresearchandconsulting.com/table-of-content/antacids-market Antacids Market Dynamics Growing Awareness about Digestive Health among Consumers Fuels the Antacids Market Value The growing awareness of digestive health has greatly benefited the antacids business. As people become more aware of the impact of diet and lifestyle on gastrointestinal health, there is a greater demand for effective antacids. This increased awareness has resulted in more proactive health management, with many turning to over-the-counter medicines to treat heartburn and acid reflux. Additionally, educational initiatives and health promotions have helped to boost the industry. This tendency is further supported by the increasing availability of antacid medicines in a variety of formats, including tablets, liquids, and chewables. As a result, the antacids industry continues to develop as more people prioritize their digestive health. Expanding Markets in Developing Regions with Rising Healthcare Access Offer Significant Antacids Market Opportunity Expanding markets in developing regions present a significant opportunity for the antacids industry due to increasing healthcare access. For instance, according to India Brand Equity Foundation, in the Union Budget for 2022-23, the pharmaceutical and healthcare sector received an allocation of Rs. 86,200 crore (approximately US$ 11.3 billion). Additionally, in October 2021, the government revealed its intention to develop a new bill for drugs, cosmetics, and medical devices aimed at enhancing the global acceptance of Indian medical devices. As economic growth improves and healthcare infrastructure develops, more people in these regions gain access to medical services, including treatments for digestive issues. Rising awareness of gastrointestinal health and access to healthcare professionals drive the demand for over-the-counter antacids. Additionally, growing urbanization and lifestyle changes contribute to higher incidence rates of acid-related disorders. Pharmaceutical companies are increasingly targeting these emerging markets, recognizing the potential for substantial revenue growth. Effective market strategies and localized products can further enhance their penetration in these regions. Thus, the expanding healthcare access and changing consumer behaviors create a promising landscape for the antacids market. Antacids Market Segmentation The global market for antacids has been segmented into drug class, formulation type, end-users, and region. Drug class is classified into proton pump inhibitors, h2-receptor antagonists, and acid neutralizers Formulation type are divided into tablet, liquid, powder, and others Distribution channel are categorized into retail pharmacy, hospital pharmacy, and online pharmacy The antacids market is geographically split into Europe, North America, Latin America, APAC, and the Middle East and Africa Antacids Market Regional Outlook In terms of antacids market analysis, North America leads market driven by the rising prevalence of digestive disorders and increased consumer awareness of antacid products. For instance, according to an article published in the Annals of the Esophagus in March 2022, around 40% of the U.S. population experiences GERD symptoms each year, with 10-20% affected on a weekly basis. Furthermore, the presence of developed economies in the region is contributing to its growth. The Asia-Pacific region is expected to be the fastest-growing segment in the coming years due to high unmet medical needs, the availability of effective treatment options, increasing disposable income, and greater consumer awareness about these products. Additionally, the presence of major players is likely to drive market growth. For instance, in November 2023, Reckitt, through its Gaviscon brand, introduced Gaviscon Double Action to provide consumers in Tamil Nadu with a remedy for acid reflux. Improvements in healthcare systems and rising investments by market players are also anticipated to boost growth in this region. Antacids Market Players Antacids companies profiled in the report include Dr. Reddy’s Laboratories Ltd., Reckitt Benckiser Group plc, Sun Pharmaceuticals Ltd, GlaxoSmithKline plc, Pfizer Inc., BoehringerIngelheim International GmbH, Bayer AG, Sanofi, Procter & Gamble and Takeda Pharmaceutical Company Limited. Enquire Before Buying https://www.acumenresearchandconsulting.com/inquiry-before-buying/1045 Receive our personalized services and customization by clicking here https://www.acumenresearchandconsulting.com/request-customization/1045 Mr. Richard Johnson Acumen Research and Consulting India: +918983225533 E-mail: sales@acumenresearchandconsulting.com