Jun 13, 2019 (News AIM via COMTEX) -- Ranitidine market is expected to witness growth during the forecast period, owing to growing prevalence of gastroesophageal reflux disease (GERD) and stomach and intestinal ulcers, worldwide. For instance, a review study published in the Gut Journal in June 2014, estimated the range of GERD prevalence in global population, in 2014. This study reported GERD prevalence as 18%- 28% in North America, 9%-26% in Europe, 3%-8% in East Asia, 9%-33% in Middle East, 12% in Australia, and 23% in Latin America. According to this statistics, North America and Middle East are at higher risk to develop GERD disease.
Furthermore, higher efficacy and tolerability of ranitidine in suppression of stomach & intestinal ulcers is increasing the adoption of ranitidine-based medication in the market. Key players in ranitidine market are engaged in gaining regulatory approvals for generic formulation of ranitidine. For instance, in August 2010, Aurobindo Pharma received U.S. Food and Drug Administration (FDA) approval to sell generic version of ranitidine syrup in the U.S. Aurobindo Pharma’s ranitidine syrup is the generic version of GlaxoSmithKline’s Zantac syrup.
In August 2018, Granules India Limited received U.S. FDA approval for Ranitidine HCL 150mg tablets and 150 mg Cool Mint (OTC). This product is bioequivalent to Sanofi-aventis’ 150 mg Zantac tablets.
Furthermore, growing strategic collaboration and joint venture by major players to launch new ranitidine-based products, is expected to drive growth of ranitidine market. For instance, in September 2013, Boehringer Ingelheim GmbH launched Captain Zantac, a new marketing campaign for Boehringer Ingelheim Consumer Health Care’s Zantac brand. Captain Zantac is Boehringer Ingelheim Consumer Health Care’s novel 360-degree brand equity campaign, which includes national television advertising and several other promotional campaign through print, online, and retail channels.
In May 2017, Strides Pharma Science Limited (Strides Shasun) and Vivimed Labs signed definitive agreement to set 50:50 joint venture to launch ranitidine tablet 150 mg in the U.S. In February 2018, Strides Shasun launched Ranitidine Tablets USP, 150 mg in the U.S. market. Furthermore, in March 2018, company launched Ranitidine Tablets USP, 75 mg in the U.S. market. The new launch will strengthen Strides’ ranitidine portfolio in the U.S. ranitidine market.
For instance, in March 2018, the Ministry of Food and Drug Safety, South Korea banned the imports of 150 mg Zantac (ranitidine) supplied by GlaxoSmithKline (GSK) Korea, for 4 months (March to June 2018) due to its different shape and coatings. According to the same source, South Korea’s Ministry of Food and Drug Safety report, GSK violated Pharmaceutical Affairs Act by changing the approved shape of Zantac. Zantac is supposed to be white and round with thin film-coatings on both side, while GSK distributed Zantac with thick coated film and also coating around some of the tablets were slightly broken. Changes in color, taste, and packaging might hurt the safety and efficacy of drugs, which directly affects the quality of product.
Key players operating in the global ranitidine market include GlaxoSmithKline plc, Boehringer Ingelheim GmbH, Strides Pharma Science Limited (StridesShasun), Tocris Bioscience (R & D Systems), Merck KGaA, and Sun Pharmaceutical Industries Limited among others.
