The Antacids market size was estimated at USD 7.3 billion in 2023 and is projected to reach USD 10.30 billion in 2030 at a CAGR of 5.04% during the forecast period 2023-2030.
Antacids are over-the-counter medications commonly used to alleviate symptoms of heartburn, acid reflux, and indigestion. They work by neutralizing excess stomach acid, which can cause discomfort and irritation in the oesophagus and stomach. Antacids contain compounds such as aluminium hydroxide, magnesium hydroxide, calcium carbonate, or sodium bicarbonate, which react with stomach acid to form water and salt, thereby reducing acidity. They provide relatively rapid relief from symptoms like burning sensation in the chest or throat. However, it’s important to note that antacids are not a long-term solution for chronic conditions like gastroesophageal reflux disease (GERD) or ulcers.
The market is being driven by various factors. Firstly, the rising awareness about GERD is expected to boost market growth. Moreover, the rising geriatric population is also contributing to the growth of the market as more that 65% of the geriatric population suffers from acid reflux. In addition, surging focus on improving the condition of healthcare facilities and improving the overall healthcare infrastructure is another important factor fostering the growth of the market. he rising number of partnerships and strategic collaborations between the public and private players pertaining to funding and application of new and improved technology is further creating lucrative market opportunities.
However, the antacids market is highly competitive, with numerous companies offering a wide range of products. This can make it challenging for new entrants or smaller companies to gain market share and establish a strong presence. Moreover, Antacids, especially those containing aluminium or magnesium, can have side effects such as constipation or diarrhoea Additionally, long-term use of certain antacids has been associated with potential health risks, such as kidney problems. These safety concerns can affect consumer confidence and lead to a decline in sales.
COVID-19 has had a significant impact on the growth of the market. People have been less likely to go to the doctor or hospital due to the fear of contracting COVID-19. Moreover, many medical settings were closed or had limited their services due to the pandemic.
The Antacids market is expected to grow during the forecast period. This growth can be attributed to various factors. Firstly, acid reflux disease is a common condition that causes heartburn and other symptoms. The prevalence of acid reflux disease is increasing which is driving the demand for antacids. Moreover, there is an increasing awareness of good oral health. This is driving the demand for antacids, as they can be used to treat heartburn and other conditions that can damage teeth and gums. In addition, OTC medications are becoming increasingly popular, as they are more convenient and affordable than prescription medications. This is also expected to drive the demand for antacids. However, antacids can have side effects such as constipation and diarrhoea. This can deter some people from using antacids.
North America to Dominate the Market