Acid Reducer Market
Acid Reducer Market Analysis, By Type (Histamine-2 Antagonists, Proton Pump Inhibitors), By Form (Tablets, Liquid, Powder, Others), By Availability (OTC Drugs, Rx Drugs), By Distribution Channel (Online, Offline), and Region - Global Market Insights 2023 to 2033
Analysis of Acid Reducer Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Acid Reducer Market Outlook (2023-2033)
The global acid reducer market is set to enjoy a valuation of US$ 23.1 billion in 2023 and further expand at a CAGR of 5.7% to reach US$ 40.3 billion by the end of 2033.
Adoption of acid reducers is relatively less owing to fears over the link to dementia in the aging population that consumes them. However, precision medicine advancements in the healthcare sector are changing the trend with rapid adoption.
Trends in OTC products are shaping consumers’ purchasing behavior, thereby contributing more than 50% of the overall market share in 2022.
With advancements in medical technology, people's life expectancies have grown, which has resulted in an increase in the senior population globally. Immunity reduction in the elderly population makes them more prone to digestive and other stomach-related problems, which in turn, has increased the demand for acid reducers across the world.
Product availability in various forms as well as affordability increased product sales during the historical period. Demand for acid reducers observed growth at a compound annual growth rate of 3.5% from 2018 to 2022.
Along with the growth in the geriatric population, the product is also becoming more popular due to an increase in sedentary lifestyle adoption. Obesity and persistent gastrointestinal issues are caused by inactivity and the consumption of junk food. Because of this, people are turning to a variety of digestive aids, including acid reducers.
To accomplish the demand-supply gap, manufacturers are increasing their production capacities, which will augment market growth over the coming years.
- Acid reducer availability in OTC platforms will drive market growth during the short-term forecast period. In addition, growing geriatric population will increase product demand.
- Rising prevalence of gastroesophageal reflux disease (GERD) among the global population will boost target product sales in the medium-term forecast period.
- Increasing investments in product development by manufacturers will lead to long-term market growth.
Market Size (2022A)
US$ 22 Billion
Estimated Market Value (2023E)
US$ 23.1 Billion
Forecasted Market Value (2033F)
US$ 40.3 Billion
Global Market Growth Rate (2023-2033)
North America Market Share (2022)
Europe Market Growth Rate (2023-2033)
~ 4.8% CAGR
United States Market Growth Rate (2023-2033)
~ 5.4% CAGR
Market Share of Top 5 Companies
Key Companies Profiled
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What All is Driving Demand for Acid Reducers across Regions?
“Dependability on Gastrointestinal Medications Due to Less Physical Activities’’
Leisure practices, inactive lifestyles, bad diets, obesity, and increased stress levels in daily life are some of the main causes for the increase in acid reducer intake. It is well-recognized that these factors negatively affect how well the digestive system works. Because of this, people are turning to a variety of digestive aids, including acid reducers. In the pharmaceutical industry, there has also been a significant movement from prescription treatments to over-the-counter (OTC) medications.
Additionally, over the past few years, purchasing goods and services online has gained acceptance. Online drugstore purchases are not an exception. When compared to brick-and-mortar pharmacies, online pharmacies offer many advantages to customers, including convenience, 24/7 accessibility, price transparency, and product availability. Thus, the expansion of the e-commerce industry and the growth of online pharmacies are two additional factors driving the expansion of the target market.
“Improvements in Formulations by Manufacturers to Upsurge Sales of Acid Reducers”
Nowadays, people look for ease in every area. Owing to this, manufacturers are implementing numerous approaches to meet consumer demand to preserve or reposition their brand identity. The market leaders are investing in improving their existing drug formulations by using strategies like melt-in-your-mouth and chewable pills to maintain a prominent position in the market.
In addition, the increased incidence of GER or GERD among children has prompted manufacturers to develop new flavors like tropical fruit and berry in an effort to enhance or facilitate child intake, thereby improving their revenue generation.
All these aforesaid approaches that are followed by market players are driving the sales of acid reducers across the world.
What Do Acid Reducer Manufacturers Need to Watch Out for?
“Rising Shift of Population to Home Remedies for Acidity-Related Issues to Hamper Market Growth”
Market development of the targeted product may be impacted by growing awareness of the risks associated with the extended use of acid reducers, such as weight gain and cancer. This leads to a tendency among customers to turn to home treatments for periodic acid reflux and heartburn.
Other options posing a threat to the global market for acid reducers include changes in eating habits and lifestyles and the rising trend of health-consciousness among the population. Moreover, one of the issues limiting market growth is the rising public's awareness of herbal remedies and conventional treatments to treat acidity.
Market share analysis of acid reducers based on type and region. Under the type segment, proton pump inhibitors dominated with 64.3% market share in 2022.
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Will Lenient Regulations on OTC Drugs Drive Sales of Acid Reducers in North America?
The North American market for acid reducers is anticipated to grow at a CAGR of 5.5% during the forecast period. Due to rising rates of GERD and peptic ulcer disease in the populace and lenient regulations on OTC drugs, the market has experienced rapid expansion.
Around 18% to 28% prevalence of GERD in the world's population comes from North America alone. A few other variables influencing product demand growth in the area include the concentration of cutting-edge pharmaceutical laboratories and the accessibility of high-speed Internet, both of which stimulate sales through online channels.
What Supports Increasing Demand for Acid Reducers in Europe?
Europe accounted for 31.7% market share at the end of 2022. The regional market is predicted to experience rapid expansion in the years to come at a CAGR of 4.8%.
This dominance is linked to the region's rising incidence of digestive problems and its cutting-edge treatment and diagnostic facilities. Because of this, acid reducers are widely available as over-the-counter medications in many brand-name retailers and are in high demand. Another driving force behind the expansion of the European market is the expansion of online pharmacies and the e-Commerce industry, which together are helping meet global demand.
Which Form is Driving High Growth of the Acid Reducer Market?
Amongst all the forms, acid reducer tablets hold the largest market share of in 2023 and are expected to witness remarkable growth during the forecast years of 2023-2033.
Tablets provide patients with the right dosage and they are easier to store. Since tablets are the cheapest oral dosage form and the easiest to handle, use, and carry, they are the most commonly utilized solid dose form. These factors may be responsible for the segment's expansion during the anticipated term. Additionally, its market share is growing due to its easier splitting and longer shelf life as compared to other forms.
Why is Easy Availability of OTC Drugs Estimated to Support Market Growth for Acid Reducers?
When it comes to accessibility, acid reducers are divided into OTC and Rx drugs. OTC medications account for the largest share of this group. Popularity and consumer desire for over-the-counter medicines are the main factors driving its increased proportion. The target product manufacturers were bound by this trend to offer an OTC medicine catalogue to consumers.
Additionally, the desire of manufacturers to improve direct-to-consumer (D2C) sales has sparked expansion through the presence of online pharmacies and e-Commerce platforms, both of which have boosted target product sales around the world.
Together, these variables will increase OTC medicine sales at a compound annual growth rate of 5.7% from 2023 to 2033.
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Prominent acid reducer manufacturers are AdvaCare, GlaxoSmithKline, AstraZeneca, Pfizer, Johnson & Johnson, Sanofi, Reddy's Laboratories, Glenmark Generics, Apotex, and Sandoz.
To introduce new innovative and dependable acid reducer products in the market, the key industry competitors are concentrating on enhancing their research and development operations. Moreover, it is anticipated that developing a variety of chewable pills in a range of flavors to increase patient adherence to the prescription will result in substantial income creation. In addition to this, the players are concentrating on inorganic growth tactics like mergers, acquisitions, and collaborations to strengthen their position in the market.
- In Nov 2021, Sanofi relaunched an OTC medication named ‘Zantac 360°’, which is a popular heartburn medication with famotidine as an active ingredient.
Fact.MR has provided detailed information about the price points of key manufacturers of acid reducers positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Segmentation of Acid Reducer Industry Research
By Type :
- Histamine-2 Antagonists
- Proton Pump Inhibitors
- Histamine-2 Antagonists
By Form :
By Availability :
- OTC Drugs
- Rx Drugs
By Distribution Channel :
- Brand Websites
- e-Commerce Platforms
- Hospital Pharmacies
- Retail Pharmacies
- North America
- Latin America
- East Asia
- South Asia & ASEAN
- FAQs -
From 2018 to 2022, sales of acid reducers increased at 3.5% CAGR.
The global acid reducer market is anticipated to reach US$ 23.1 billion in 2023.
Photo pump inhibitor acid reducers account for 63.4% share of global sales in 2023.
Worldwide demand for acid reducers is predicted to reach US$ 40.3 billion by 2033-end.
Europe tops the global market and will account for 30.2% share by 2033.