Nizatidine Market

Market Outlook for Nizatidine

Newly published data by Fact.MR estimates the global market for nizatidine to flourish at an impressive 9% value CAGR across the 2021-2031 assessment period. Expected valuation for the market by the end of the said decade is likely to reach US$ 12.2 Bn, while as of 2021, the expected market value is US$ 5.1 Bn.

Key Points Covered in Nizatidine Industry Survey

• Market estimates and forecast 2016-2031
• Key drivers and restraints impacting market growth
• Segment-wise, Country-wise, and Region-wise Analysis
• Competition Mapping and Benchmarking
• Brand share and Market Share Analysis
• Key Product Innovations and Regulatory Conditions
• COVID-19 Impact on Nizatidine Market and How to Navigate
• Recommendation on Key Winning Strategies

Consumption Analysis of Nizatidine 2016-2020 vs Outlook 2021-2031

According to Fact.MR- a market research and competitive intelligence provider- the market for nizatidine experienced a noteworthy upsurge from 2016 to 2020, expanding at a CAGR of 7%. Growth is riding on the back of rising prevalence of gastric disorders.

Attributed to its anti-inflammatory effects, nizatidine is being investigated in order to develop anti-viral drugs which could prove to be highly effective in countering the COVID-19 pandemic. Various pharmaceutical giants are ramping up efforts to fast track the development of nizatidine infused drugs.

In addition, numerous well-known companies have won approval to sell their products in new areas, boosting their growth chances. Over the forthcoming decade, the market is expected to grow at a rate of 9% in value CAGR terms.

Rising Healthcare Costs to Drive Nizatidine-based Treatment Market?

Globally, as healthcare infrastructure improves, overall spending on high-quality treatment is increasing. This is largely due to the combination of modern technologies and innovative therapeutic approaches. This is true even for the treatment of gastrointestinal problems.

Various pharmaceutical grade treatments, such as nizatidine medicines, have been developed as effective alternatives. These medications are readily available online or over-the-counter at low prices, making them accessible to people of all socioeconomic backgrounds.

How is Nizatidine Uptake Fueled by Increasing Awareness of Gastric Disorders?

According to the British Medical Association (BMA), non-communicable diseases (NCDs) account for 60% of the worldwide illness burden, with stomach disorders accounting for the majority of this total. As a result, regional-level measures are ongoing to address this issue.

The National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK) is financing research studies in the United States to better understand the complex connections between genetic, environmental, immunological, and microbial variables that contribute to stomach disorders. Such endeavors are also assisting in the development of nizatidine-based medications.

Voluntary Product Recalls to Disrupt Nizatidine Market Expansion?

In 2020, the U.S Food and Drug Administration announced a voluntary recall of ranitidine and nizatidine tablets by two major manufacturers, Appco Pharma and Mylan N.V., in early 2020. While the former recalled all of its tablets, the latter pulled three batches of nizatidine capsules from the market.

The aforementioned recalls were prompted by a significant risk of contamination due to NDMA levels exceeding the FDA's permitted daily intake guidelines, which is a probable carcinogen. As a result, product releases are likely to be postponed, limiting growth opportunities.

Country-wise Analysis

Why will India Witness High Growth over the Upcoming Years?

According to the India Brand Equity Foundation , India is the world's largest provider of generic medications, and the home market is predicted to grow threefold by 2031, with medicine spending expected to increase by more than 9%. (IBEF). As a result, nizatidine sales are expected to grow in the next years.

Currently, nizatidine is produced in India by a small number of well-known pharmaceutical businesses. Glenmark Pharmaceuticals, Dr. Reddy's Laboratories, and Strides Pharma Science are the companies in question. More players are expected to emerge in the Indian environment as regulatory approvals are expedited. The Indian market is poised to surge at a CAGR of 8.5% by 2031, according to Fact.MR

What are the Prospects for Nizatidine Sales in the U.S?

The National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK) estimates that 60 to 70 million people are affected by digestive diseases, with over 20 million hospitalizations. Diverticulosis, GI infections, and gastroesophageal reflux were among the most common.

As a result, the use of antihistamines to reduce excessive gastric juice production is on the rise, boosting nizatidine sales. Certain companies, such as Amneal Pharmaceuticals Inc., have been given permission to resume sales of their nizatidine oral solutions, indicating that future growth is possible. As per Fact.MR, the U.S market is poised to surge at a CAGR of 7.2% until 2031.

Why is China Expected to be an Attractive Market for Nizatidine?

It is apprehended that China accounts for a significant chunk of irritable bowel syndrome- affecting between 4 to 7% of the population. According to the National Center for Biotechnology Information (NCBI), China is one of the countries with the heaviest burden of gastric cancer (GC).

The number of incident cases of GC increased from 317.34 thousand in 1990 to 612.82 thousand in 2019, while the age-standardized incidence rate (ASIR) of GC decreased from 37.56 per 100,000 in 1990 to 30.64 per 100,000 in 2019, hence providing immense opportunities for enhanced nizatidine sales. Owing to these factors, sales of nizatidine drugs are likely to accelerate at an impressive 8% CAGR.

Category-wise Insights

Is Nizatidine Product Sales Increasing Through Retail and Online Channels?

While hospital pharmacies remain the principal source of nizatidine capsules and tablets, sales at retail and online pharmacies are fast expanding at a CAGR of about 14%, owing to the convenience of access and availability.

The fast growth of over-the-counter pharmacies and online medical stores is providing leading nizatidine manufacturers with a better platform to sell their medicines to potential customers.

Nizatidine Capsules to witness huge demand over the upcoming years?

Nizatidine capsule sales are expected to outperform other forms, such as tablets and powder, with a CAGR of over 10% from 2021 to 2031. These capsules are offered in two doses to treat duodenal ulcers: 150 mg and 300 mg, respectively.

Nizatidine capsules operate faster than tablets because they break down faster, and they are less likely to have a disagreeable taste or odor, which is especially useful for those who have trouble swallowing tablets.

Competitive Landscape

Prominent nizatidine manufacturers are reliant on regulatory sanctions from appropriate authorities to market their products, besides resorting to strategies such as mergers, acquisitions and collaborations.

• Glenmark Pharmaceuticals, a major Indian manufacturer, offers a range of Nizatidine Oral Capsules composed of a dosage of 300 milligrams, specifically manufactured for treating active duodenal ulcers.
• Likewise, Dr. Reddy’s Laboratories offers nizatidine for inhibiting gastrointestinal- GI H2 receptor antagonists which are synthetically manufactured and available in oral solid and liquid formats.
• MedChemExpress, another prominent player, manufactures nizatidine for uptake across stomach and intestine ulcers. It works by secreting the secretion of gastric acid the stomach produces, thereby preventing ulcer recurrence.

Report Scope

Attribute	Details
Market size value in 2020	USD 5.1 Billion
Market forecast value in 2031	USD 12.2 Billion
Growth Rate	CAGR of 9% from 2021 to 2031
Forecast Period	2021-2031
Historical Data Available for	2016-2020
Market Analysis	US$ Mn for Value & ‘000 Units for Volume
Key Regions Covered	North America Europe East Asia South Asia Oceania Latin America Middle East & Africa
Key Countries Covered	U.S. Canada Brazil Mexico Argentina Germany Italy France U.K Spain Russia India ASEAN China Japan South Korea Australia New Zealand GCC South Africa
Key Market Segments Covered	Type Distribution Channel Region
Key Companies Profiled	Flynn Pharma MedChemExpress Mylan N.V. Glenmark Pharmaceuticals Weightech (Hunan) Pharmaceutical Hengdian Group Dr. Reddy’s Laboratories Eli Lily and Company Strides Pharma Science Limited
Pricing	Available upon Request

Key Segments Covered

• Type

  • Nizatidine Capsules
  • Nizatidine Tablets
  • Other Nizatidine Types

• Distribution Channel

  • Nizatidine for Hospital Pharmacies
  • Nizatidine for Retail Pharmacies
  • Nizatidine for Online Pharmacies