The global Famotidine market is projected to grow at a CAGR of 5.5% during the forecast period from 2023 to 2030.
Market Overview
The research firm Contrive Datum Insights has just recently added to its database a report with the heading global Famotidine Market.Both primary and secondary research methodologies have been utilised in order to conduct an analysis of the worldwide Famotidine Market. In order to provide a comprehensive comprehension of the topic at hand, it has been summed up using appropriate and accurate market insights. According to Contrive Datum Insights, this worldwide comprehensive report is broken up into several categories in order to present the data in a way that is understandable, succinct, and presented in a professional manner. Famotidine is a medication that helps suppress acid production in the stomach. Products like Pepcid are popular brand names for this. Famotidine is prescribed for patients suffering from peptic ulcers, gastroesophageal reflux disease, and Zollinger-Ellison syndrome. Famotidine can be taken orally or administered intravenously. In most cases, an hour is required before any noticeable progress is made. In 1979, the first patent for famotidine was issued. In 1985, it was legally allowed to be used in medicine. There is a non-branded version of the substance on the market. The report covers the period from 2017 to 2030, with 2022 as the base year, and provides information in terms of sales volume (K units) and revenue (million USD) for the famotidine market. Learn about the various submarkets that make up the international Famotidine industry with this report. Regional product market shares by category, use case, and key player are also provided. We considered the effects of both COVID-19 and other global crises when calculating the potential size of the market. In-depth research into the drivers, restraints, opportunities, and challenges confronting the global Famotidine market has been conducted by reputable organizations. This worldwide study was compiled using data from numerous market sub- and segments.
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Segment Analysis
It encompasses the most important key players in the world’s various regions and contains them. In this research report, several different techniques that high-level industries have utilised to achieve their goals are discussed. In order to obtain a more in-depth analysis of a number of different businesses, player profiles of the most important top players have been developed. It is beneficial to have an understanding of the worldwide competition on both the domestic and international platforms.
It provides a detailed description of the drivers and opportunities in the Famotidine Market, which assists current customers and potential customers in gaining a clear vision and making decisions that are most effective for them. In order to discover the desired facts regarding the target market, various types of analysis models, such as Famotidine Market, are utilised. In addition to this, it includes a variety of different techniques for strategic planning, which encourages the way to define and develop the framework of the various industries. It is common practice to prescribe famotidine for patients with ulcers as an oral medication. One of its effects is to reduce stomach acid production. To administer medication, doctors often use tablets, which can be either small blocks or long strips of paper, plastic, or another material. The injection is a medical procedure that involves injecting the patient with the drug’s active ingredient. The global famotidine market was dominated by sales for medical purposes. Peptic ulcers, heartburn indigestion, diarrhea, and dysentery are just some of the conditions that this product is used to treat or prevent. It’s also given to kids under 15 who have been hospitalized for chickenpox or surgery to lower their chances of developing Reye’s syndrome.
Based on types, the Famotidine Market is segmented into:
- Tablets
- Injection
Based on application, the Famotidine Market is segmented into:
- Medical
- Microbiology
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Recent Development
An important player in the international famotidine market, UQUIFA, donated €3,000 to the Sant Celoni Hospital in November 2018. The funds will be used to improve the institute’s hospitalization equipment and fund the electrocardiogram department. Darou Pakhsh Pharma Chem, a second major player in the international famotidine market, recently announced that it has registered two products in India. Moreover, the company declared that it would begin shipping these two medications to the Indian market soon.
UQUIFA S.A.’s parent company, Vivimed Labs Spain S.L., signed an agreement in May 2018 to acquire SONEAS, a CDMO headquartered in Hungary. Hailing from Budapest, SONEAS is a household name as a pioneer in the pharmaceutical and fine chemical industries. UQUIFA’s ability to perform pre-clinical trials and carry out phase I, II, and III development of the NCE project has been bolstered by the acquisition of SONEAS, increasing the company’s visibility in the CDMO market. Existing cGMP manufacturing facilities in Mexico and Spain may benefit from these projects as well.
Regional Analysis
North America, Latin America, the Middle East, Asia-Pacific, Africa, Europe, and India are just some of the geographical segments that have been studied for the global Famotidine market. Forecasts show that the global Famotidine region will continue to dominate this market. In 2020, North America had the largest revenue share of any region in the world. As product demand remains high across a wide range of industries, including the medical and microbiology sectors, the region is predicted to maintain its dominant position throughout the forecast period. Increasing rates of gastric cancer are influencing increased demand for the product in the area. Rising awareness about Helicobacter pylori infection is expected to drive substantial growth in the Asia Pacific market over the forecast period.
Regional Famotidine Market coverage (Regional Status, Demand Forecast, Country Trends, etc.):
- North America, Europe, China, Japan, Southeast Asia, India.
- North America (USA, Canada, and Mexico).
- Europe (Germany, France, UK, Russia and, Italy).
- Asia-Pacific (China, Japan, Korea, India and, Southeast Asia).
Key segments covered in the Famotidine Market include:
- Famotidine Market Growth Drivers and Barriers.
- Market Trends, Market Opportunities, Porter’s Five Forces Analysis.
- Market Overview, Industry Development, Market Maturity, Value Chain Analysis.
- Regional and Country Level Analysis.
- Trends and Forecasts for Market Segments.
- Market Analysis and Various Recommendations.
- Key market forces.
Report Customization:
This report will be customized to your needs for additional data up to 5 companies or 5 countries or nearly 40 analyst hours.
https://www.contrivedatuminsights.com/product-report/famotidine-market-19757Key Market Participants in the Famotidine Market:
Phalanx Labs, UQUIFA, Rakshit Drug, Chempro Pharma, Gauri Fine Chemicals, Darou Pakhsh Pharma Chem, PAT IMPEX, Jayusion, and others.
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