According to the DataM market research report, the global ranitidine market is growing at a CAGR of 2.5% over the forecast period 2023-2030

NEW YORK, OHIO, USA, March 16, 2023 /EINPresswire.com/ -- Market Overview:

A medication called ranitidine is used to treat and prevent stomach and intestinal ulcers, gastroesophageal reflux disease (GERD), and other disorders where too much stomach acid is produced. It is a member of a group of medications known as H2 (histamine-2) blockers, which lessen the amount of acid produced by the stomach. Ranitidine comes in tablet or syrup form and can be purchased without a prescription or over the counter.

Market Size Growth Rate:

According to the DataM market research report, the global ranitidine market size was valued at US million in 2022, it is projected to reach US 528.88 million by 2030, with growth at a CAGR of 2.5% over the forecast period 2023-2030. North America is estimated to contribute 40.2% to the growth of the global market over the forecast period.

The need for ranitidine as a therapeutic option rises along with the prevalence of gastrointestinal conditions such as gastroesophageal reflux disease (GERD), peptic ulcers, and stomach malignancies around the world. However, proton pump inhibitors (PPIs) and antacids are gastrointestinal diseases' alternate treatments, and some patients might prefer them to Ranitidine.

Market Drivers:

The increasing prevalence of GERD leads to the increasing demand for ranitidine in the market. According to the article published in 2022, GERD is one of the most widespread gastrointestinal conditions, affecting 20% of adults in western countries. The prevalence of GERD in the US is thought to range from 18.1% to 27.8%. However, due to more people having access to over-the-counter acid-reducing drugs, the actual prevalence of this illness may be higher. Men tend to have GERD at a slightly higher rate than women do.

Due to the cost of the disease's long-term maintenance and the fact that GERD is a chronic condition rather than an acute illness, it has a substantial economic impact. Due to its frequency and effects on the population, gastroesophageal reflux disease (GERD) has drawn the attention of medical professionals during the past few years.

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Market Restraints:

It is anticipated that the ranitidine industry's alternatives available in the market may hamper its growth. There are various Zantac substitutes listed by the FDA. They include H2 blockers like Pepcid and Tagamet as well as proton pump inhibitors like Prilosec and Nexium. The alternatives include Esomeprazole, Famotidine, Omeprazole, and Cimetidine.

Market Opportunities:

It can be very difficult to create oral formulations for kids, especially when we take into account their quirks and preferences. Key considerations for pediatric oral liquid medications include the selection of excipients, dosage amount, and palatability. A histamine H2-receptor antagonist called ranitidine HCl (Ra-HCl) is used to treat and prevent gastro-esophageal reflux disease, gastric or duodenal ulcers, and erosive esophagitis caused by the adverse effects of corticosteroids in both adults and children. There are low-dosage (up to 15 mg/mL) sugar-free solutions and syrups for Ra-HCl oral solutions. There is potential to create brand-new pediatric formulations.

COVID-19 Impact Analysis:

The COVID-19 pandemic affected the ranitidine market strongly. As ranitidine may have antiviral characteristics and may help lessen lung inflammation, it has been investigated as a potential treatment for COVID-19. The safety and effectiveness of ranitidine as a COVID-19 medication, however, have come under scrutiny in a number of trials, and it is not now advised for this usage by major health organizations. Ranitidine was among the drugs that were in short supply as a result of the COVID-19 pandemic's disruption of global supply systems. This had an even greater effect on the market for ranitidine and raised interest in alternative therapies.

Recent Developments in the Industry:

Market Segmentation:

As per the research analysis, the global ranitidine market is segmented By Dosage Form (Tablet, Syrup, Injectable solution, and Others), Route of administration (Oral, Intravenous, Others) By Application (Stomach and intestine ulcers, Erosive esophagitis, Gastroesophageal reflux disease, Zollinger Ellison syndrome, Others) By Distribution channel (Hospital pharmacies, Retail pharmacies, and Online pharmacies).

Based on application, stomach, and intestine ulcers segment is estimated to contribute 46% to the growth of the global market over the forecast period (2023-2030). Stomach and duodenal ulcer rates rise with age, while the incidence of uncomplicated peptic ulcer disease (PUD) achieved a plateau with age whereas the incidence of severe PUD rises with age. Four million people worldwide suffer from PUD each year, with a lifetime prevalence in the general population of 5–10%.

Geographical Classification:

The global ranitidine market is segmented into major countries: North America, Europe, South America, Asia Pacific, and Middle East & Africa.

Asia-Pacific Ranitidine Market:

Recent epidemiological studies revealed that the prevalence of GERD was rising globally. Western Asia reported 10-20%, and the estimated prevalence of GERD worldwide ranged from 15 to 25%. Such a widely widespread illness that affects the gastrointestinal tract also has an impact on a patient's health-related quality of life. In addition, the first three months of a baby's life are when GERD is most common, and most children outgrow it by age one. At three weeks old, infants who were exclusively breastfed had lower GERD risk.

North America Ranitidine Market:

North America has long been a significant market for ranitidine and has dominated the global market. The high rate of gastrointestinal conditions, like gastroesophageal reflux disease (GERD), in North America has been a significant factor in the region's need for ranitidine. Also, the presence of cutting-edge healthcare infrastructure and a high degree of patient knowledge about the advantages of ranitidine have aided in North America's dominance of the ranitidine market.

Europe Ranitidine Market:

The demand for ranitidine in Europe has been influenced by the high prevalence of gastrointestinal illnesses, especially GERD. The development of the ranitidine market in Europe has also been aided by the availability of cutting-edge healthcare infrastructure, a high degree of patient knowledge of the advantages of ranitidine, and a strong regulatory environment.

Competitive Analysis:

There are numerous international, regional and local suppliers in the global Ranitidine industry. The competition in the local market is fierce. The vendors compete based on price, product quality, and dependability. As a result, to prosper and survive in a competitive market, suppliers must provide cost-efficient and effective products.

Major Companies:

Major key companies working towards the market's growth include Sanofi, GENPHARM, Sandoz International GmbH, Teva Pharmaceuticals USA Inc, GlaxoSmithKline plc, Mylan N.V., Par Pharmaceutical, Perrigo Company plc, Sun Pharmaceuticals Industries Ltd., Amneal Pharmaceuticals, LLC., and others.

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The Full Report has the below insights:

The report offers a comprehensive evaluation of the market in terms of market value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2021-2022) and verifiable projections about market size during the forecast period (2023-2030).
Visualize the composition of the global ranitidine market segmentation dosage form, route of administration, application, distribution channel and region, highlighting the key commercial assets and players.
By Dosage Form: Tablet, Syrup, Injectable solution, and Others.
By Route of administration: Oral, Intravenous, Others.
By Application: Stomach and intestine ulcers, Erosive esophagitis, Gastroesophageal reflux disease, Zollinger Ellison syndrome, Others.
By Distribution channel: Hospital pharmacies, Retail pharmacies, and Online pharmacies.
By Region: North America, South America, Europe, Asia Pacific, Middle East & Africa
Identify commercial opportunities in the global ranitidine market by analyzing trends and co-development deals.
The report also covers data insights on various industry forces such as, porter's five forces analysis, supply chain analysis, pricing analysis, regulatory analysis.
Excel data sheet with thousands of data points of global Ranitidine market-level 4/5 segmentation.
PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
Product mapping in excel for the key product of all major market players
The report will provide access to approximately 61 market data tables, 64 figures and close to 180 pages.

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