According to Fact.MR, the market for nizatidine is anticipated to expand at a pace of roughly 9% CAGR between 2021 and 2031 as a result of the increased demand for the treatment of gastrointestinal illnesses in important regions. The report estimates that the market will be valued at US$12.2 billion by the conclusion of the 2021–2031 assessment period.
Historically, the nizatidine market grew at a CAGR of 7% from 2016 to 2020 to reach a valuation of roughly US$ 5 Bn. Nizatidine is anticipated to show substantial potential in the development of an antiviral medication to treat COVID-19 because of its anti-inflammatory effects. The market is anticipated to reach US$ 5.1 billion by 2021.
According to the British Medical Association (BMA), gastrointestinal illnesses make up the majority of non-communicable diseases (NCDs), which make up 60% of the global illness burden. As a result, efforts are being made at the regional level to resolve this problem. The eventual escalation of nizatidine-based medication formulation production is anticipated to significantly boost market growth in the ensuing years.
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Key Takeaways from the Market Study
- Sales of nizatidine capsules are anticipated to grow at an astounding 10% rate between 2021 and 2031.
- Maximum revenues will be generated by retail and online pharmacies, which will grow at a CAGR of 14%.
- Nizatidine sales in India would increase by three times between 2021 and 2031.
- Sales of nizatidine in the US are expected to grow at a 7.2% CAGR until 2031.
- Over the course of the projection period, China’s nizatidine market is expected to grow at a strong 8% rate.
Competitive Landscape
Profiled in Fact.MR are prominent players. Flynn Pharma, MedChemExpress, Mylan N.V., Glenmark Pharmaceuticals, Weightech (Hunan) Pharmaceutical, Hengdian Group, Dr. Reddy’s Laboratories, Eli Lilly & Company, and Stride Pharma Science Limited are a few of the companies mentioned in MR’s nizatidine market research study.
- 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.
What are the Prospects for Nizatidine Sales in the U.S?
Over 20 million hospital admissions are attributed to digestive illnesses, according to the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK), which estimates that 60 to 70 million people are affected. Among the most prevalent were gastroesophageal reflux, diverticulosis, and GI infections.
Antihistamine use is increasing as a result, which increases nizatidine sales by decreasing the generation of excessive gastric juice. Future expansion is feasible as evidenced by the fact that some businesses, like Amneal Pharmaceuticals Inc., have been permitted to resume sales of their nizatidine oral solutions. The U.S. market is anticipated to grow at a CAGR of 7.2% until 2031, according to Fact.MR.
