Europe Antacids Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Dosage Form; Drug Class; Distribution Channel

The Europe antacids market is expected to reach US$ 3,396.21 million in 2027 from US$ 2,438.49 million in 2019. The market is estimated to grow at a CAGR of 4.3% during 2020-2027.

The growth of the Europe antacids market is attributed to the key driving factors such as the rising prevalence of gastrointestinal diseases and the increasing ageing population. However, the lack of knowledge associated with gastrointestinal diseases hinder the market growth.

The prevalence of gastrointestinal conditions is rising across Europe. For instance, the 6th Annual European Conference on Gastroenterology was conducted in France in 2018. The conference focused on progressions and remedial procedures in inflammatory bowel disease, gastrointestinal reflux, Helicobacter pylori infection, and other gastrointestinal diseases. Besides, the growing prevalence of digestive disorders in the UK influences the market growth. According to the research report of the Guts Charity organization, 43% of the UK population have experienced the digestive disorder. It also reported that around 14% of the drug budget is spent on managing gastrointestinal disorders.

Moreover, gastroesophageal reflux disease (GERD) is a common digestive disorder in Germany that affects around 10% of the population, with chronic heartburn, as its main symptom. The disease lowers the quality of life, and the chronic reflux of gastric acid and bile salts increases the risk of developing adenocarcinoma of the distal esophagus. Thus, the rising prevalence of gastrointestinal diseases is propelling the demand for antacids, which is driving the growth of the Europe antacids market.

The European economy is hindering due to the exponentially growing number of COVID-19 confirmed cases in the region. Spain, Italy, Germany, France, and the UK are among the most affected European countries. The countries in the region are under the second wave of the outbreak. Lockdown is being imposed in various countries. Owing to limited movement of people, various online healthcare services - such as telemedicine and online pharmacy - are gaining preference.

In European countries, there is a surging demand for nonprescription drugs such as antacids. In response to COVID-19 outbreak, numerous countries in Europe are limiting the sale and purchase of nonprescription drugs to maintain supply and counteract stockpiling and panic buying. The approach differs widely across the region. Countries such as Germany and France have introduced strict limits, while the UK and Ireland have not ordered official restrictions.

Based on dosage form, the Europe antacids market is segmented into tablet, liquid, and others. The tablet segment held the largest market share in 2019, whereas the liquid segment is anticipated to register the highest CAGR in the market during the forecast period.

The Europe antacids market, based on drug class, is segmented into proton pump inhibitors, H2 antagonist, and acid neutralizers. The proton pump inhibitors segment held the largest market share in 2019. Also, the same segment is anticipated to register the highest CAGR in the market during 2020-2027.

By distribution channel, the Europe antacids market is segmented into hospital pharmacy, retail pharmacy, and online pharmacy. The retail pharmacy segment held the largest market share in 2019, and the same segment is anticipated to register the highest CAGR in the market during the forecast period.

A few of the primary and secondary sources referred to while preparing the report on the Europe antacids market are the Spanish National Statistics Office (INE) and the International Trade Administration (ITA).