9th May 2019: Antacids are medications that help in neutralizing the acid in the stomach to cut down on upset stomach, heartburn, acid indigestion, and sour stomach. Antacids incorporate aluminum hydroxide, magnesium carbonate, and magnesium trisilicate, which help in reducing gastroesophageal reflux disease (GERD) and some other symptoms such as belching, bloating, and nausea.
According to a study conducted by American Gastroenterological Association that was published in the International Functional Foundation, the demand for antacids is increasing steadily in the U.S. because one-third of their population is suffering from gastroesophageal reflux disease. Furthermore, the awareness about gastroesophageal reflux disease is surging rapidly, which in return is propelling the growth of the global antacids market and is expected to spur massively during the forecast period (2019-2025).
Availability of antacids is spurring the growth of the industry
On the basis of the distribution channel, the market is bifurcated into retail, pharmacy, hospital pharmacy, and online pharmacy. Online pharmacy is projected to be the fastest growing segment in the estimated time span due to the rising awareness among consumers. In 2017, the Alliance for Safe Online Pharmacies (ASOP Global) conducted a survey, which stated that around 33% of participants from Canada purchased the medicinal prescription from an online pharmacy.
Furthermore, retail pharmacies held the largest share of the market owing to the ease in the availability and accessibility of these pharmacies. For instance, one of the most noteworthy key participants, MedPlus has around 1,400 outlets worldwide among which 50 are franchisee and 1,350 are self-owned. This is leading to greater demand for antacids as it is available all over the world.
The digestive system diseases are strongly helping the market to extend its reach
Regionally, online pharmacies are surging tremendously in North America and is anticipated to hold the highest share of the market in the forthcoming years owing to the acceleration in the digestive disorders that is prevailing along with the awareness of antacid products. In 2017, Centers for Disease Control and Prevention(CDC) said that around 32.3 million people were diagnosed from digestive system diseases in the regions of North America and this is another reason that is fueling the growth of the market.
Moreover, the Asia Pacific is expected to place itself in the largest and fastest growing region over the forecast period owing to the rise in the disposable income, effective treatment methods, and unmet medical needs. Additionally, the market participants are growing their investments, which is boosting the development of the antacids market tremendously.
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