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Antidiarrheals Market 2024 - By Share, Growth, Demand, Trends, Opportunities And Outlook 2033
Antidiarrheals Market Demand
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According to The Business Research Company's, The antidiarrhoeals market size has grown steadily in recent years. It will grow from $3.76 billion in 2023 to $3.89 billion in 2024 at a compound annual growth rate (CAGR) of 3.3%. The growth in the historic period can be attributed to disease prevalence, global health initiatives, aging population, pharmaceutical innovation, patient awareness.
The antidiarrhoeals market size is expected to see steady growth in the next few years. It will grow to $4.41 billion in 2028 at a compound annual growth rate (CAGR) of 3.2%. The growth in the forecast period can be attributed to emerging markets, environmental factors, global health challenges, epidemiology and disease burden. Major trends in the forecast period include digital health and telemedicine, patient-centric care, self-care and over-the-counter (otc) products, personalized medicine, biotechnology advancements.
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Market Drivers and Trends:
The rise in the number of diarrhea cases significantly contributes to the growth of the antidiarrheal drug market. According to UNICEF, diarrhea was the second leading cause of death among children under the age of 5 years that is responsible for killing 760,000 children every year. An increasing number of diarrheal cases increases the demand for antidiarrheal drugs market.
Major companies in the antidiarrheal drug market are merging with other companies in the market to increase their reach and market share. Companies merge with or acquire other companies to expand their market share, diversify their product portfolio, or acquire new technologies. For instance, GlaxoSmithKline agreed to acquire Novartis AG's 36.5% stake in the consumer healthcare business for $ 13 billion to expand the market.
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Major Key Players of the Market:
GlaxoSmithKline plc, Actelion Pharmaceuticals Ltd (a subsidiary of Johnson & Johnson), Perrigo Company plc, Lupin Limited, Glenmark Pharmaceuticals Limited, Merck & Co. Inc., Pfizer Inc., The Procter & Gamble Company, Sanofi-aventis U.S. LLC, Bayer AG, Johnson & Johnson, Novartis International AG, The Kroger Co., Harmon Stores Inc., Great Lakes Wholesale Marketing and Sales Inc., Geri-Care Pharmaceuticals Corp., Fred's Inc., Dolgen Corporation, CVS Pharmacy Inc., American Sales Company, Cardinal Health Inc., Bedrock LLC, Greenbrier International Inc., Good Neighbor Pharmacy, Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Ltd., Mylan N.V., Dr. Reddy's Laboratories Ltd., Cadila Healthcare Ltd., Torrent Pharmaceuticals Ltd., Cipla Ltd., Aurobindo Pharma Ltd., Alkem Laboratories Ltd., Zydus Cadila Healthcare Ltd.
Antidiarrheals Market 2024 Key Insights:
• The antidiarrhoeals market size is expected to see steady growth in the next few years. It will grow to $4.41 billion in 2028 at a compound annual growth rate (CAGR) of 3.2%.
• Growing Diarrhea Incidences Drive Antidiarrheal Drug Market Expansion
• Market Expansion Through Mergers, A Key Strategy In The Antidiarrheal Drug Market
• North America was the largest region in the antidiarrhoeals market in 2023
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