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

The North America antacids market is expected to reach US$ 3,564.22 million in 2027 from US$ 2,684.67 million in 2019. The market is estimated to grow at a CAGR of 3.7% during 2020-2027.

The growth of the North America antacids market is attributed to the key driving factors such as the growing prevalence of gastroesophageal reflux disease (GERD) and the rising prevalence of obesity. However, the lack of awareness regarding gastrointestinal diseases in developing countries restrain the market growth.

Gastroesophageal reflux disease (GERD), a digestive disorder that affects the ring of muscle between esophagus and stomach, is a chronic and highly prevalent disorder. As per the report ‘Update on the epidemiology of gastro-esophageal reflux disease: a systematic review’ published in 2014, the prevalence of GERD is 18.1-27.8% in North America. In the US, the growing prevalence of gastrointestinal diseases demands antacid drugs. As per the National Institute of Diabetes and Digestive and Kidney Diseases 2014 report, around 15 to 30% of the US population suffers from GERD. Similarly, according to the National Health Interview Survey 2018, about 14.8 million people in the US were diagnosed with ulcers. Furthermore, the National Ambulatory Medical Care Survey: 2016 reported that around 22.4 million visits physician’s office for digestive diseases and about 8.3 million emergency department visits were recorded for the treatment of digestive diseases.

Furthermore, the National GI Survey was conducted and completed in 2015 and that was the first major attempt to measure the prevalence of GERD in the US since 2005. As per the survey, 18% of the 71,000 people reported GERD episodes twice a week and 31% reported GERD episodes once a week. The survey also reported that 35% of these patients used medications to control the condition, and 55% of these used proton-pump inhibitors as their medication therapy. Additionally, the survey reported that the condition is more prevalent in women than in men. Thus, the growing prevalence of GERD is propelling the demands for antacids, which is driving the growth of the North America antacids market.

COVID-19 outbreak affected the sales of essential OTC (Over-the-Counter) drugs such as antacids. The companies are preferring nonphysical marketing campaigns and shifting sales processes online. To support the sale of nonprescription drugs, in March 2020, American President signed the Coronavirus Aid Relief and Economic Security (CARES) Act (HR 748). This landmark legislation provides financial relief for workers, healthcare professionals, and small businesses affected by the COVID-19 pandemic. Under the law, consumers will immediately benefit from purchasing OTCs wit pre-tax Health Savings Accounts (HSA) and Flexible Spending Accounts (FSA). OTC drugs, including nonprescription medications such as antacids, can again be purchased using tax-preferred funds by the nearly 60 million Americans enrolled in FSAs and HSAs. Moreover, the exports and imports of pharmaceutical products is returning to its original momentum. Thus, the availability of the products in the region is improving. Therefore, the growth in North America boosts the growth of the North America antacids market.

Based on dosage form, the North 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.

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

The North America antacids market, by distribution channel, 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 North America antacids market are the National Institute of Diabetes and Digestive and Kidney Diseases (2014), the National Ambulatory Medical Care Survey (2016), and National Center for Health Statistics (NCHS).