The size of the Latin America Antacid Market was valued at USD 2.32 billion in 2022 and is estimated to be growing at a CAGR of 3.9% and worth USD 2.81 billion by 2027 during the forecast period 2022 to 2027.
Increased use of junk food, improper eating schedule, high spicy or oily food, sedentary lifestyle, bowel disorder, overconsumption of NSAIDS or other drugs, among others, are the factors responsible for the growing demand for antacids in the years to come. In addition, the increasing prevalence of GERD, obesity, and irritable bowel syndrome (IBS) results in the awareness of this disease, which is expected to boost the Latin American antacid market.
An article published in the International Foundation for Gastrointestinal Disorders provided information and support regarding the condition of antacids. Additionally, the International Foundation for Functional Gastrointestinal Disorders (IFFGD) encourages patients with GERD-related symptoms to see their doctor. According to World Gastroenterology Organization, the prevalence of GERD is increasing worldwide and ranges from nearly 2.55% to 25.65% across the globe. Furthermore, according to the World Health Organization, more than $ 12 billion are spent on antacids worldwide each year.
In addition, consumption of citrus fruits and chocolate, coffee, carbonated drinks, etc., which increase the content of gastric HCl in the stomach, is advancing the prevalence of heartburn, affecting the market during the forecast period. Antacids to combat stomach acid are available today as an over counter drug in retail stores, pharmacies, and E-commerce websites, which helps in easy distribution and ease of convenience for the patients. Use of natural products to make antacid drug formulations like herbal extracts are becoming more popular to treat typical troubles such as heartburn.
However, the low awareness about gastrointestinal disorders in developing economies restricts antacids, limiting the market growth rate. In addition, self-medication of antacids without proper knowledge or guidance can lead to side effects such as nausea, vomiting, stomach ache, drug-drug interaction, dizziness, and disturbed digestion; this factor may challenge the market's growth.
This research report on the Latin American Antacid Market has been segmented and sub-segmented into the following categories.
By Drug Class:
By Formulation Type:
By Distribution Channel:
Geographically, the Brazil antacid market is expected to be the most significant and fastest-growing regional segment during the forecast period due to high unmet clinical needs, prominence of online pharmacies, availability of effective treatment methods, the concentration of advanced pharmaceutical laboratories, and increase in disposable income and consumer awareness of the availability of these products.
The Argentina antacid market is estimated to be the second growing regional market. It can be attributed to the increased prevalence of digestive disorders, improving health infrastructure, increasing investments by market players, and consumer awareness of antacid products in the region. According to the CDC, the number of emergency department visits with digestive system diseases as the primary diagnosis was approximately 22 million. Moreover, it is likely to remain high in the years to come, given the availability of junk food, which encourages more people towards unhealthy eating habits and obesity.
The Mexico antacid market will be a good market for antacids, estimated to account for 20% of the total market share by 2028. Given the high penetration of pharmaceutical manufacturing companies in the region, relaxation of regulations for drug distribution, and the popularity of the online shopping culture, players operating in the antacids market in this region will have good sales in the years to come.
Regional markets in Peru, Columbia, and Puerto Rico will contribute to revenue generation owing to the widespread availability of antacids in retail pharmacies and public awareness.
KEY MARKET PLAYERS
Some of the leading companies dominating in the Latin American Antacid Market profiled in this report are Sun Pharma, Digene (Abbott India), Pudin Hara (Dabur), Gelusil (Pfizer), GlaxoSmithKline plc, Abbott Laboratories, Pfizer, Inc.,
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