The global Famotidine market is projected to grow at a CAGR of 5.5% during the forecast period from 2023 to 2030.
Famotidine Market Overview:
Famotidine is a medicine that helps reduce the production of stomach acid. It is commonly sold under trade names such as Pepcid. Famotidine is used to treat Zollinger-Ellison syndrome, gastroesophageal reflux disease, and peptic ulcer disease. The method of delivery of famotidine is by injection into a vein or by mouth. Typically, it takes an hour for results to start appearing. Famotidine was first patented in 1979. Its medical use became effective in 1985. The substance is available as a generic or generic drug.
Famotidine market size estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Famotidine market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and other global crisis.
The global Famotidine market is the professional and accurate study of various business perspectives such as major key players, key geographies, divers, restraints, opportunities, and challenges. This global research report has been aggregated on the basis of various market segments and sub-segments associated with the global market.
Significant Famotidine Market Dynamics and Growth Factors:
There are several key factors that are responsible for driving the growth of the global famotidine market. Some of the factors are listed below as follows:
Host of medical uses:
One of the biggest driving factors for the growth of the global famotidine market is its wide range of medical applications. Famotidine provides help in relieving pain from heartburn, sour stomach, and acid indigestion. It is also used for treating duodenal ulcers and gastric ulcers. In addition to this, famotidine is also used for the treatment of gastroesophageal reflux disorder. Such broad range of medical uses has made famotidine extremely popular among the market players and thus increasing its adoption and driving the growth.
Recently, the global famotidine market has experienced tremendous technological advancements. This has helped in bringing enhanced and innovative products in the market and has thus helped in the growth of the market.
Industry News and Key Developments
- In November 2018, UQUIFA, a key player in the global famotidine market, gave a donation of €3000 to the Sant Celoni Hospital. The money will be used for financing the electrocardiogram section and also improving the equipment of hospitalization in the institute.
- Recently, Darou Pakhsh Pharma Chem, another big name in the global famotidine market announced that the company has registered two of its products in India. The company also announced that it will soon start exporting these two drugs in the Indian market.
- In May 2018, the parent company of UQUIFA S.A, Vivimed Labs Spain S.L. signed an agreement to facilitate the takeover of SONEAS, a Hungry-based CDMO company. SONEAS has its headquarters in Budapest and is one of the prominent names in the innovator pharmaceutical and fine chemical industry. This acquisition of SONEAS has helped in broadening UQUIFA’s presence in the CDMO sector by bolstering the company’s ability to undertake pre-clinical trials, conduct the phase I, II, and III development of the NCE project. These projects also have the potential to enhance the company’s current cGMP manufacturing facilities in Mexico and Spain.
Top Key Players include in the Famotidine Market are
Phalanx Labs, UQUIFA, Rakshit Drug, Chempro Pharma, Gauri Fine Chemicals, Darou Pakhsh Pharma Chem, PAT IMPEX, Jayusion, and others.
The Famotidine market research report is categorized based on type, applications and region.
On the Basis of Type:
On the Basis of Application:
On the Basis of Region:
Geographically, the global Famotidine market has been analyzed in various regions such as North America, Latin America, Middle East, Asia-Pacific, Africa, Europe, and India. The global Famotidine region is dominating this market in the upcoming future.
North America dominated the global market in terms of revenue share in 2020. The region is expected to continue to dominate over the forecast period due to strong product demand across various application areas including medical and microbiology. Rising incidence of gastric cancer is one of the major factors contributing to the high demand for the product in the region. The Asia Pacific market is expected to witness lucrative growth over the forecast period owing to rising awareness about Helicobacter pylori infection.
Further the regions are divided into countries as follows
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Famotidine Market report scope:
The major key questions addressed through this innovative research report:
What are the major challenges in front of the global Famotidine market?
Who are the key vendors of the global Famotidine market?
What are the leading key industries of the global Famotidine market?
Which factors are responsible for driving the global Famotidine market?
What are the key outcomes of SWOT and Porter’s five analysis?
What are the major key strategies for enhancing global opportunities?
What are the different effective sales patterns?
What will be the global market size in the forecast period?
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