Global Antacids Market 2019-2023 | Rising Geriatric Population to Boost Demand | TechnavioThe Associated Press
LONDON--(BUSINESS WIRE)--Dec 6, 2018-- analysts forecast the global antacids market to grow at a CAGR of close to 2 % during the forecast period, according to their latest market research report. The growth momentum of the market is expected to accelerate in the year-over-year growth.
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Technavio has released a new market research report on the global antacids market for the period 2019-2023. (Graphic: Business Wire)
The growing market of e-commerce is one of the major trends being witnessed in the . The market of e-commerce is dominated by OTC drugs that require no prescription due to an increasing trend in online transactions witnessed by the antacids market. It is easy for the customer to shop online without requiring prior extensive product knowledge and the major reason for the growing popularity of e-commerce retailing has been the retailer’s efforts on improving the online shopping experience through better online education and targeted marketing. E-commerce encourages customers by giving them various online facilities to buy the medicine online, thereby stimulating market growth.
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According to Technavio analysts, one of the key factors contributing to the growth of the global antacids market is the rising geriatric population:
Global antacids market: Rising geriatric population
The occurrence of acidity and heartburn among geriatric population increases with rising age. There is a valve at the lower end of the esophagus that is designed to keep acid in the stomach but with age, the valve or sphincter in the lower esophagus tends to relax, which allows acid to reflux or flow backward, causing heartburn. Also, heartburn and acidity are caused when the digestive system tends to slow down among the geriatric population with increasing age. Age is directly related to the increase in various disorders, including GERD, thus, the rising geriatric population is a major driving factor for the antacids market.
According to a senior analyst at Technavio, “The US census bureau says, in 2015, people aged 65 years and above were approximately 617 million, and the number is expected to reach 1,566 million by 2050. Also, as per data collected by the world bank and the NIH, the percentage of the geriatric population is expected to grow from 8.48% in 2016 to approximately 17% by 2050. Thus, the demand for antacid is expected to increase with the rising population, thereby driving the market.”
Global antacids market: Segmentation analysis
The global antacids market research report provides market segmentation by type (non-systemic antacids and systemic antacids) and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
The Americas held the largest share of the market in 2018, accounting for more than 37% share. It was followed by EMEA and APAC respectively. The dominance of the Americas can be attributed to the rising geriatric population and poor lifestyle patterns.
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CONTACT: Technavio Research
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KEYWORD: EUROPE ASIA PACIFIC NORTH AMERICA SOUTH AMERICA AFRICA MIDDLE EAST
INDUSTRY KEYWORD: HEALTH OTHER HEALTH PROFESSIONAL SERVICES OTHER PROFESSIONAL SERVICES
SOURCE: Technavio Research
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PUB: 12/06/2018 01:22 PM/DISC: 12/06/2018 01:21 PM