Global Famotidine Market: Overview

Famotidine is a drug that helps in decreasing the production of stomach acid. It is generally sold under the trade name of Pepcid among others. Famotidine is used for the treatment of Zollinger-Ellison syndrome, gastroesophageal reflux disorder, and peptic ulcer disorder. The delivery method of famotidine is either by injection in a vein or oral injection. Generally, it takes an hour to start showing results. Famotidine was first patented in the year 1979. Its medical used came into effect in 1985. The substance is available as a generic drug or generic medication.

Global Famotidine Market: Notable Developments

Some of the notable developments in the global famotidine market are listed below:

  • 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.
  • In July 2014, UQUIFA joined hands with Kern Pharma to develop a generic version of Duloxetine (Lilly’s Cymbalta). Within this joint venture, Kern launched two new versions of Duloxetine, a highest selling drug in the Spanish market. In this partnership, UQUIFA was responsible for the manufacturing of API as well as the pellet forms of Duloxetine. On the other hand, Kern Pharma was responsible for the packaging, encapsulation, and marketing of the drug in Spain.

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Global Famotidine Market: Drivers and Restraints

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.
  • Technological advancements: 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. 

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Global Famotidine Market: Geographical Outlook

The global famotidine market is segmented into key regions such as North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Of these the global market is projected to be dominated by the Asia Pacific market in the coming years. This growth of the region is primarily attributed to the emergence of developing economies such as India and China who are willing to spend more on the development of the healthcare infrastructure.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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