The global ranitidine market is expected to grow with an annual growth rate of more than 2%. However, in 2020, the US FDA requested the removal of Ranitidine because of the potential for exposure to NDMA, a probably cancer-causing substance.
Wilmington, Delaware, Nov. 01, 2023 (GLOBE NEWSWIRE) — Global Ranitidine Market is valued at US$ 420 million in 2023 and is expected to grow at a significant CAGR of over 2% over the forecast period of 2023-2030, according to the published market report by RationalStat
Market Definition, Market Scope, and Report Overview
Ranitidine is a medication that belongs to a class of drugs known as H2 (histamine-2) receptor antagonists. It is primarily used to reduce the production of stomach acid. Ranitidine is commonly prescribed to treat a range of conditions related to excessive stomach acid secretion.
Acid-related gastrointestinal disorders, such as gastroesophageal reflux disease (GERD) and peptic ulcers, are common worldwide. The prevalence of these conditions has driven the demand for medications like ranitidine to alleviate symptoms and provide relief.
- According to a deep-dive market assessment by RationalStat, the global ranitidine market has been analyzed on the basis of market segments, including dosage strength (in mg), form, distribution channel, application, and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global ranitidine market covers market sizes on the basis of market value (US$/EUR Million) and volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global ranitidine market. It also includes the industry’s current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Ranitidine Market: Segmental and Market Share Analysis
- On the basis of application, indigestion is expected to take up a significant share in the ranitidine market by application.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 420.0 billion |
| Market Size Forecast | US$ 481.3 million |
| Growth Rate | 2.0% |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
Some of the prominent players and suppliers operating and contributing significantly to the global ranitidine market growth include GSK plc, Sanofi, Pfizer Inc., Sandoz Group AG, Strides Pharma Science Limited, and Merck KGaA, among others.
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RationalStat has segmented the global ranitidine market based on dosage strength (in mg), form, distribution channel, application, and region
- Global Ranitidine Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Dosage Strength (in mg)
- 75
- 150
- 300
- Global Ranitidine Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Form
- Powder
- Tablet
- Syrup
- Global Ranitidine Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Distribution Channel
- Online
- Brick-and-mortar Stores
- Global Ranitidine Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Application
- Stomach and Intestine Ulcer
- Indigestion
- Zollinger–Ellison syndrome
- Gastroesophageal Reflux Disease
- Heartburn
- Others
- Global Ranitidine Market Value (US$ Million), Volume (Units), and Market Share (2019-2030) Analysis by Region
- North America Ranitidine Market
- US
- Canada
- Latin America Ranitidine Market
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Ranitidine Market
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Ranitidine Market
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Ranitidine Market
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Ranitidine Market
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Ranitidine Market
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Key Questions Answered in the Ranitidine Report:
- What will be the market value of the global ranitidine market by 2030?
- What is the market size of the global ranitidine market?
- What are the market drivers of the global ranitidine market?
- What are the key trends in the global ranitidine market?
- Which is the leading region in the global ranitidine market?
- What are the major companies operating in the global ranitidine market?
- What are the market shares by key segments in the global ranitidine market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.
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