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

The South and Central America antacids market is expected to reach US$ 792.18 million in 2027 from US$ 615.58 million in 2019. The market is estimated to grow at a CAGR of 3.3% from 2020 to 2027.

The growth of the South and Central America antacids market is attributed to the key driving factors such as the rising prevalence of gastroesophageal reflux disease (GERD) and increasing prevalence of obesity. However, the lack of awareness associated with gastrointestinal disorders in low-income economies hinders the market growth.

Obesity is a major risk factor for the development of GERD. The excess of belly fat causes pressure on the stomach, and the development of a hiatal hernia leads to backflow of acid. Also, increased relaxation of lower esophageal sphincter (LES) in obese people causes higher acid reflux. As per the study ‘The Association Between Obesity and GERD: a Review of the Epidemiological Evidence’ overweight or people with high BMI (25-30 kg/m²) or people who are obese with BMI>30 kg/m² often suffer from acidity or GERD. As per the World Health Organization (WHO), over 1.9 billion adults were overweight in 2016. Of which over 650 million were obese. Thus, the growing prevalence of obesity favors the growth of the market.

COVID-19 pandemic has become the most significant challenge in South and Central America. Owing to the reducing imports due to disruptions in global trade, there is an increase in the shortages of medical supplies and other goods that raises the prices of the same. The developing countries have registered a growth in the number of COVID-19 confirmed cases due to the rising population movement from one location to another within and outside the country. However, amid this pandemic, the antacid market in South and Central America is expected to rise due to the increasing awareness about self-care, and antacids are prescribed as a medication for side effects associated with the consumption of various drugs, such as antibiotics and antivirals. The region’s antacid market is expected to witness a higher demand for antacids during the pandemic.

Based on dosage form, the South and Central America 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 South and Central America 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 South and Central America antacids market is segmented into hospital pharmacy, retail pharmacy, and online pharmacy. The retail pharmacy segment held the largest market share in 2019, also 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 South and Central America antacids market are WHO and ‘Update on the epidemiology of gastro-esophageal reflux disease: a systematic review’ published in 2014.