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Magaldrate Market Segmented By form such as Tablets, Liquid Suspension with treatment applications such as Upset Stomach, Stomach Ulcers, Hiatal hernia
Magaldrate is a chemical complex of hydroxyl magnesium aluminate, which is used as an antacid drug. Magaldrate is used for the treatment of gastric ulcers, esophageal ulcers, gastroesophageal refluxes and other stomouch acid related disorders.
Magaldrate works against excess acid in the stomach, by reacting with acid to form magnesium and aluminum hydroxides, which will help in relieving from excessive stomach acids. Magaldrate is majorly sold in combination of simethicone, and in various forms such as tablet and suspension.
Growing antacid market in the world is expected to push the demand for various antacid formulations. Magaldrate is one of the majorly used antacid, and is grabbing a significant share of global antacid market. Increasing old age population in the world, is expected to boost the demand for magaldrate, during the coming years.
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Increasing cases of gastroesophageal reflux diseases GERD, in the large number of people, is driving the sales of magaldrate for the treatment of gastric acid disorders
Increasing number of patients of gastroesophageal reflux diseases (GERD), globally, has been observed in last few years. A rise in GERD, is anticipated to increase the demand for various antacids including magaldrate, proton pump inhibitors, and other antacids.
Changing lifestyle, of the population in developed and emerging countries, is accelerating the gastric acid disorders amongst the various age groups of the population. Increasing gastric acid related disorder will eventually increase demand for antacids. Demand for magaldrate is expected to increase due to its effectiveness on gastric acid disorders.
Presence of alternatives for magaldrate and its side effects may restrain the growth in the demand for magaldrate
Large number of antacids are available in the market today including Alka-Seltzer, Proton pump inhibitors, and Tums amongst others. Also, research and development in this field of GERD treatment may result in the discovery of other antacids which can act as the restraining factor for the growth of the magaldrate demand.
Other restraining factor for magaldrate market growth is its side effects including bone pain, malaise, milk-alkali syndrome, rebound hyperacidity, osteomalacia, and other.
New product development is the main strategy followed in the magaldrate Market
New developments have been observed in the magaldrate market, various combinations of magaldrate with other compounds. Magaldrate is offered in the form of suspension and tablets, and demand for the suspensions of magaldrate has been increased in the last few years. Continuous research is going on to reduce the side effects of magaldrate and to improve its effectiveness on the treatment of gastric acid related disorders.
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Europe accounted for the major share of the global magaldrate market, however the high growth is expected from Asia Pacific magaldrate market. Asia pacific followed Europe in terms of value market, for magadrate and is expected to overtake Europe, due to increasing population of old age group in the region. Rise in demand for magaldrate can be attributed to growth in the number of GERD patients in the region.
North America magaldrate market followed Asia Pacific magaldrate market, in terms of value. Significant growth in demand is anticipated in from the North America, during the forecast period. Latin America followed North America magaldrate market, in terms of value and is expected to grow at a higher CAGR than that of North America.
Middle East & Africa contributed a small share of the global magaldrate demand, in terms of value, which is expected to grow at a high CAGR. Increasing pollution, changing eating habits and lack of sufficient sleep in the working population of the developing countries is anticipated to enhance the gastric acid disorders, which is expected to drive magaldrate demand, during the forecast period.
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Some of the market participants identified across the value chain of global magaldrate market are:
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