Sales of Nizatidine Capsules are Expected to Witness Credible Upsurge at over 10% CAGR, attributed to their Pleasant taste
Initiatives undertaken to spread awareness about various disease driving the growth of the nizatidine market in developing countries
Fact.MR – A Market Research and Competitive Intelligence Provider: The global nizatidine market is exhibiting a positive growth due to the increasing prevalence of gastric disorders such as Inflammatory Bowel Disease (IBD), constipation, hemorrhoids, stomach ulcers, etc. As per a study by Fact.MR – a leading market research and competitive intelligence provider, the market for nizatidine is anticipated to surge at a CAGR of over 9% during the forecast period 2021 to 2031.
As per the British Medical Association (BMA), non-communicable diseases (NCDs) account for over 60% of the global ailments, with gastric problems encompassing the majority of this overall burden.
Over 60 million people are suffering from various digestive ailments, resulting in the hospitalization of more than 1 million in the U.S., according to the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK). As nizatidine has proven as an effective compound for the cure of gastric problems, the demand for nizatidine is estimated to surge.
Various organizations are adopting initiatives for spreading awareness about gastric problems. For instance, in the U.S., NIDDK is actively supporting various investigation projects with regard to the analysis of complex interactivity among environmental, microbial, and immune factors contributing to gastric disorders. Such initiatives are projected to drive the market for nizatidine.
“The market players are increasingly investing in developing new drugs and focusing on obtaining regulatory approvals from prominent authorities to cater to the increasing demand for nizatidine,” says the Fact.MR analyst.
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Key Takeaways
- In North America, the U.S. is projected to remain the largest nizatidine market during the forecast period owing to the initiatives taken by leading organizations to curb gastric problems.
- Being the largest supplier of generic drugs across the globe, the market for nizatidine in India is expected to grow 3X by the end of 2031.
- China is expected to emerge as a lucrative market due to the high prevalence of gastric disorders in the country.
- Nizatidine capsule is dominating the product segment with sales increasing at a CAGR of more than 10% during the forecast period.
- Hospital pharmacies account for the largest market share, being the primary point of distribution.
Key Drivers
- Increasing prevalence of gastric disorders will propel the demand for nizatidine.
- Rising initiatives to spread awareness about gastric disorders will bolster the market growth.
- As gastric problems were reported amongst the patients of COVID-19. The outbreak of COVID-19 will fuel the demand for nizatidine.
- Growing investment in medical infrastructure is expected to spur market growth in developing economies.
Key Restraints
- Adverse effects associated with the drugs such as constipation, diarrhea, headache, etc will negatively affect the demand for nizatidine.
- Voluntary recalls of drugs by regulatory bodies are hampering the growth of nizatidine.
- Availability of substitutes for nizatidine might restrain the market growth.
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Competitive Landscape
Key players operating in the nizatidine market includes Flynn Pharma, MedChemExpress, Mylan N.V., Glenmark Pharmaceuticals, Weightech (Hunan) Pharmaceutical, Hengdian Group, Dr. Reddy’s Laboratories, Eli Lily and Company, and Strides Pharma Science Limited. Leading market players are emphasizing on receiving regulatory approvals for their existing product lines and developing new products to enhance their product portfolio. For instance,
- Glenmark Pharmaceuticals, one of the leading Indian manufacturer, offers wide range of Nizatidine Oral Capsules including dosages of 300 milligrams, manufactured for treating active duodenal ulcers.
- MedChemExpress, manufactures nizatidine for treating intestine and stomach ulcers. It enhance in secretion of gastric acid, resulting in preventing ulcer recurrence.
More Insights on the Nizatidine Market
Fact.MR offers unbiased analysis of the nizatidine market. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of type (nizatidine capsules, nizatidine tablets, and other nizatidine types), application (hospital pharmacies, retail pharmacies, and online pharmacies), across seven regions (North America, Latin America, Europe, South Asia, East Asia, Oceania and Middle East & Africa).
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