Retail and online pharmacy sales of nizatidine to grow at a CAGR of over 14% in the global nizatidine market during the forecast period, 2021-2031.
ROCKVILLE, MARYLAND, UNITED STATES, November 9, 2021 /EINPresswire.com/ — Award-winning consulting firm Fact.MR’s recently published report on the global 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. sales of nizatidine capsules are expected to witness credible upsurge at over 10% CAGR, attributed to their ease of swallowing and presence of low odor and pleasant taste.
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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Key Market Segments Covered
Other Nizatidine Types
Nizatidine for Hospital Pharmacies
Nizatidine for Retail Pharmacies
Nizatidine for Online Pharmacies
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of MEA
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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.
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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Source: EIN Presswire