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(Health-NewsWire.Net, April 15, 2020 ) Market Overview
The Global Ranitidine Market is expected to grow at a CAGR of 1.8% during the forecasting period (2019-2026).
Ranitidine belongs to a group of drugs called histamine-2 blockers.
It works on reducing the amount of acid stomach production. It is used to treat and prevent ulcers in the stomach and intestine, and reoccurrence, treat stomach disease which produces excess acid (Zollinger Ellison syndrome), peptic ulcer disease, gastroesophageal reflux disease, and others.
Ranitidine is also used to reduce symptoms such as stomach pain, heartburn, cough, and indigestion.
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Market Drivers and Restraints
Increase in heartburn population globally and change in food habits are showing a significant impact on global ranitidine market and is also expected to remain high over the forecast period.
Based on the studies by researchers at Scimed Central in 2017, in western countries, 21-37% population are exposed to heartburn at least once a month and 13-25% at least once a week.
According to the Digestive Disease Center, the food and drink habits are responsible for heartburn it includes alcohol, spicy food, coffee and caffeinated beverages, peppermint, tomatoes. The excessive consumption of the above menu and drink are leading to heartburn.
One of the major factor hindering the global ranitidine market is its side effects of ranitidine.
The significant side effects caused by ranitidine medication include a severe headache, drowsiness, sleep problems, nausea, vomiting, stomach pain, diarrhea, stomach cancer, etc.
Segmentation Analysis
By application type, the global ranitidine market is segmented into stomach and intestine ulcers, erosive esophagitis, GERD, Zollinger Ellison syndrome and others. A stomach ulcer is known as gastric ulcer, are painful sores in the stomach lining. This is a type of peptic ulcer disease. Peptic ulcers are the ulcers that affect both stomach and intestines.
Heartburn is a burning sensation in the chest or throat. It occurs when stomach acid backs into the esophagus. It leads to GERD on continuous occurrence.
Esophagitis is the inflammation of the lining of the esophagus. If it is left untreated, it will lead to esophageal cancer.
GERD dominated the application segment for global ranitidine market and expected to remain dominant during the forecast period due to its global prevalence.
According to a review study published in the international foundation of gastrointestinal disorders in 2017, stated that around 18-28% of global GERD population lives in the U.S.
According to Candian Society Of Intestinal Research in 2017, approximately 13% of Canadians are suffered from GERD weekly and one-quarter of the population experiences heartburn more frequently.
Geographical Share
North America dominates the global ranitidine market in 2018, due to the increase in ranitidine drug prescriptions and prevalence of gastrointestinal diseases.
According to Clinical, in 2016 the number of ranitidine prescriptions were around 15M and ranks 50 in the drug ranking.
According to researchers from Bayer College of Medical Sciences in 2017, 4.5 million population in the U.S are affected by peptic ulcer disease annually.
According to Precision Nutrition a personalized healthcare provider in 2017, explains heart burns happens about once a week in 20% North America, and it is common in pregnant women.
Competitive Landscape
New product launches, joint ventures between major companies and sequential FDA approvals on ranitidine tablets is driving the global ranitidine market.
In December 2018, Liva Pharmaceuticals got USFDA approval for its SANDA-Ranitidine injection.
In November 2018, Novitium pharma LLC got FDA approval on abbreviated new drug application for Ranitidine capsules 150mg and 300mg.
In February 2018, Strides Shaun in 50:50 joint venture with vivid labs launched over the counter version of ranitidine in the U.S.
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