Award-winning consulting firm Fact.MR’s recently published report on the global demand of nizatidine market for the forecast period 2021-2031 expects an optimistic future outlook, projecting noteworthy growth for the said period. Growth is expected to be primarily fueled by extensive application in gastric disorder treatment.
According to a study published by a group of researchers at the University of Gothenburg, nearly 40% of adults suffer from a functional gastrointestinal disorder in a 73,000 person, 33 country survey. Functional gastrointestinal disorders represent a series of chronic disorders in the gastrointestinal tract that often include severe symptoms such as heartburn, acid reflux, and dyspepsia in the upper gastrointestinal tract.
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The market experienced hiccups in the recent past amid a series of product recalls by prominent manufacturers due to several compliance incompatibilities. However, these withdrawals have been overturned, reopening growth frontiers. For instance, in September 2020, Amneal Pharmaceuticals Inc. announced that its nizatidine oral solution 15 mg/ml was available for reorder across the U.S., meeting all FDA requirements.
Key Takeaways from Market Study
- By type, nizatidine capsules of doses of 150 mg and 300 mg to remain most preferred
- Retail and online sales of nizatidine products to experience massive incline over coming years
- Resumption of regulatory approval grants to stimulate nizatidine sales across the U.S.
- India to attract significant investments, attributed to high domestic manufacturing capabilities of generic drugs
- China to generate high demand amid rising prevalence of gastric cancer and irritable bowel syndrome
“Surging healthcare costs associated with availing high-grade gastrointestinal disorder treatment are prompting a shift towards consuming orally administered nizatidine capsules and tablets, ”says a Fact.MR analyst
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Major players in the market that are associated with offering nizatidine-based formulations and nizatidine, in itself, include 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.
These aforementioned players largely concentrate on offering different formulations of nizatidine so as to especially cater to gastrointestinal ailments. A majority of these players are scrambling to acquire regulatory approvals from appropriate authorities to secure a firm footing in the market across regions and increased their revenue and profit margins.
- National Centre for Biotechnology Information (NCBI) states that China exhibits high incidence of irritable bowel syndrome (IBS), which affects 4-7% of the population. These figures point towards an increasing scope for the need of nizatidine drugs.
- Increasing focus on health and wellness and resultantly rising healthcare spending is creating growth prospects within the U.S.
- According to reports by India Brand Equity Foundation (IBEF), India is the largest global supplier of generic drugs. Hence, the market is expected to surge by 9%, showing greater expansion prospects.
- Sales of nizatidine capsules are expected to surge at over 10% CAGR over the forecast period
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More Insights on the Nizatidine Market
Fact.MR, in its new offering, presents an unbiased analysis of the nizatidine treatment market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. The study divulges essential insights on the market on the basis of type (capsules, tablets, and others) and application (hospital pharmacies, retail pharmacies, and online pharmacies) across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa). The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, supply side and demand side trends.
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Research Insight: https://www.factmr.com/report/nizatidine-market
Press Release: https://www.factmr.com/media-release/2003/global-nizatidine-market