According to World Health Organization 2017, more than $10 billion spent worldwide each year on antacids. According to World Gastroenterology Organization, the prevalence of GERD is increasing worldwide ranging from nearly 2.5% to 6.6% in Eastern Asia and nearly 13.8% to 25.8% in North America. Antacids are a group of medicines which help in neutralise the acid content of stomach. Its symptoms include discomfort or a burning sensation in the upper portion of the stomach, nausea, abdominal bloating, or belching. Antacid therapy is given to the patients who experience such symptoms. Antacids relieve indigestion and heartburn by neutralizing, or balancing, stomach acid. The population with age of 60 or above is growing at a rate of about 3 per cent per year and more than 65% of people suffer from acid reflux are 40 years old or older, which is boosting the antacid market globally. The global antacid market is segmented into, drug class, formulation type, distribution channel and region.
Increasing geriatric population around world is the key factor driving the global antacid market. According to data from World Population Prospects 2017, the number of older persons those aged 60 years or over are 962 million globally in 2017 comprising about 13 percent of the global population, which is expected to be more than double by 2050 accounting for nearly 2.1 billion in 2050.In addition, sedentary lifestyle, increasing incidence of gastroesophageal reflux disease(GERD), changing food eating habits are leading to increasing adoption of antacid. This is another factor expected to support growth of this market.
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On the basis of region, market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America dominates in the global market for antacid, due to drastic changing dietary habits of people, in countries in this region. Asia Pacific market is an emerging market for antacid, due to increasing aging population. As per statistics of the Asian Development Bank, the population of individuals above the age of 60 years in Asia is projected to touch 923 million by 2050
Key players operating in the global antacids market include, AstraZeneca plc., Bayer AG, Boehringer Ingelheim GmbH, Dr. Reddy’s Laboratories Ltd., GlaxoSmithKline plc., Pfizer Inc., Procter & Gamble Company, Sun Pharmaceuticals Ltd., Takeda Pharmaceutical Company Ltd., and Sanofi-Aventis LLC.