Ranitidine hydrochloride is a medication that reduces the amount of acid in the stomach. The excessive acid can result in indigestion, heartburn, and acid reflux along with gastroesophageal reflux disease (GORD). This drug helps in preventing stomach and gastrointestinal ulcers. It is available in the form of a tablet, which starts attacking the indigestion problem when taken 30–60 minutes before consuming any food or beverages. This is classified as a histamine H2-receptor antagonist or H-2 blocker, which mediates the gastric secretion.
COVID-19 Impact Analysis
Pharmaceutical and biotech companies together with governments around the globe are working to address the COVID-19 outbreak, from supporting the development of vaccines to planning for medicine supply chain challenges. Currently, around 115 vaccine candidates and 155 molecules are in the R&D pipeline. Moreover, commonly used drugs such as hydroxychloroquine have witnessed a dramatic surge in demand for the management of COVID-19. Such high demand for these drugs has presented huge opportunities for manufacturers of COVID-19 management drugs, as many developed countries are facing shortage of these drugs. Thus, the pharmaceutical and biotechnology industries are expected to witness a significant growth in the future, owing to the demand for vaccine and treatment drugs for COVID-19. This, in turn, is expected to have a significant impact on the ranitidine hydrochloride market.
Top Impacting Factors
- Increase in cases of acidity and indigestion along with heartburn in the geriatric population due to their reduced digestion power is the key factor that drives the growth of the ranitidine hydrochloride market.
- In addition, with rise in adoption of sedentary lifestyle such as consumption of outside food, the increase in prevalence of stomach ulcer increased, which boosts the market growth for ranitidine hydrochloride market.
- However, high cost associated with R&D activities in ranitidine hydrochloride is expected to hinder the market growth.
- Moreover, increase in strategic collaborations and joint ventures among major companies and getting regulatory approvals for the governing bodies will create greater opportunities for the ranitidine hydrochloride market.
New product launches to flourish the market
In August 2018, Granules India Limited, a pharmaceutical company, got the approval of The Food and Administration (FDA) for Ranitidine HCL 150mg tablets and 150 mg Cool Mint (OTC), to treat gastroesophageal reflux disease (GERD).
Key Benefits of the Report
- This study presents the analytical depiction of the ranitidine hydrochloride industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the ranitidine hydrochloride market share.
- The current market is quantitatively analyzed to highlight the ranitidine hydrochloride market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed ranitidine hydrochloride market analysis depending on competitive intensity and how the competition will take shape in coming years
Questions Answered in the Ranitidine Hydrochloride report
- Which are the leading players active in the ranitidine hydrochloride market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
- What is "ranitidine hydrochloride"?
- What is "ranitidine hydrochloride" market prediction in the future?
Ranitidine Hydrochloride Market Report Highlights
By Drug Class
By Distribution Channel
Key Market Players
GlaxoSmithKline Plc, Merck KGaA, Boehringer Ingelheim GmbH, Strides Pharma Science Limited (Strides Shasun), Sun Pharmaceutical Industries Limited, Tocris Bioscience (R & D Systems)