The rising prevalence of gastroesophageal reflux disease (GERD) is different geographically. In eastern countries the prevalence of GERD is lower as compared to western countries where the prevalence of GERD is higher. The accurate data of target population with any GERD symptoms is hard to track, as most of the symptoms are often ignored and treated as regular gastric difficulties.
The H2-receptor antagonists market report offers a detailed analysis on the revenue opportunities and trends present in the H2-receptor antagonists market. The detailed analysis, along with insights on drug innovation, timeline, and pricing for each drug candidate is included in this report. The present macroeconomic factors influencing the dynamics of the H2-receptor antagonists market are also briefly explained.
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Prevalence of GERD Creating Diverse growth prospects for manufacturers of H2-receptor antagonists
H2-receptor antagonists are a traditional form of medication used for GERD cases, and manufacturers in the business should target geographies where the prevalence of GERD is known to be high, which include the U.S., Norway, Sweden, Brazil, and others.
Major government healthcare bodies take an account of people diagnosed or subject to GERD indications, and this data helps estimate the consumer potential for manufacturers to invest in each region. The growing prevalence in terms of GERD is a major driving factor for the H2-receptor antagonists market in terms of potential consumers with purchasing power. However, an equally important indication of H2-receptor antagonists is a peptic ulcer, which is reportedly decreasing on a global level.
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Many indirect factors are contributing to growth in the incidence of GERD, which include the choice of food, physical habits, and prolonged health problems. These are among the main factors contributing to the growth in the patient pool, which is directly contributing to the growth of the H2-receptor antagonists market.
Hence, manufacturers need to implement business strategies to promote the use of H2-receptor antagonist drugs. The adoption of H2 receptor antagonists is low as compared to PPI, however, with the right clinical adjustments, the market for H2 receptor antagonists is likely to witness significant growth due to the increasing incidence of GERD.
A Shift from ‘Prescription’ to ‘OTC’ Drugs
The planned introduction of various Over-the-Counter (OTC) drugs has renewed interest among many consumers. Expenditure on prescription drugs is increasing faster than any other medical service sector, and over the years, spending on prescription drugs is growing in double digits. The rising cost is attracting the attention of key leaders in the healthcare industry, politics, and consumer health groups.
The current expansion for OTC drugs is explainable, and factors such as cost containment efforts from healthcare organizations, the deregulation of prescription drugs, and a steady increase in the number of generic products due to patent expiration are contributing to the growth of the market.
The entire paradigm for H2 receptor antagonists has also changed over time due to the increasing popularity of the concept of self-care. Hence, consumers are embracing OTC H2 receptor antagonists as they do not require them to pay service charges to healthcare bodies that provide a treatment plan.
The spending for OTC H2 receptor antagonists is minimal as compared to prescription-based drugs. H2 receptor antagonists are mostly available in the generic form, and the concentration of the active ingredient present is responsible for the availability of the drug either in a prescription or OTC form.
Healthcare regulation bodies provide excess benefits to manufacturers leading to the transition from prescription to OTC H2 receptor antagonists. The drug price competition and Patent Restoration Act of 1984 provides a patent extension of 3 years, only if the manufacturer switches the prescription drug to a more suited OTC type.
In April 1995, famotidine (Pepcid AC) became the first of the H2 receptor antagonists to be switched to an OTC status. Other drug types present in the drug class switched to OTC respectively, the manufacturers implemented a critical business strategy by keeping the prescription drug available in the market and launching OTC drugs with low doses.
H2-Receptor Antagonists Market: Competitive Landscape
The H2-receptor antagonists market includes some of the key manufacturers of H2-receptor antagonists based on their market dynamics and financial standing. The H2-receptor antagonists market mostly comprises generic manufacturers, and there are many small-scale manufacturers present in this mature market.
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Some of the manufacturers profiled in the H2-receptor antagonists market report include
- Abbott
- Alembic Pharmaceuticals Ltd.
- Cadila Healthcare Ltd.
- Caple
- Cipla Ltd.
- Dr. Reddy's Laboratories Ltd.
- Glenmark Pharmaceuticals Ltd.
- Helios Pharmaceuticals
- Intas Pharmaceuticals Ltd.
- Mankind Pharma Ltd.
- Torrent Pharmaceuticals Ltd.
- Sanofi S.A.
- Teva Pharmaceutical Industries Ltd.
- GlaxoSmithKline Plc.
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