Proton pump inhibitors (PPIs) are a group of medicines that work by reducing the amount of acid produced in the stomach. PPIs are used for treating conditions like acid reflux, ulcers, and gastroesophageal reflux disease. They provide effective relief from heartburn and acid indigestion.
The global Proton Pump Inhibitors Market is estimated to be valued at US$ 3.8 Mn in 2024 and is expected to exhibit a CAGR of 6.7% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing prevalence of acid reflux is a key driver augmenting the growth of the proton pump inhibitors market. Acid reflux, also known as gastroesophageal reflux disease (GERD), is a common condition where stomach acid flows back into the food pipe. It causes symptoms like heartburn and chest pain. Rising obesity levels and inappropriate lifestyle habits have contributed to the higher incidence of acid reflux across regions. According to some estimates, over 60 million Americans experience acid reflux symptoms every year. Proton pump inhibitors are highly effective in providing relief from acid reflux symptoms and are hence, widely prescribed by physicians to patients with GERD. This growing patient pool suffering from acid reflux is expected to drive the demand for proton pump inhibitors over the forecast period.
SWOT Analysis
Strength: Proton pump inhibitors have high efficacy for treating conditions like gastric ulcer and GERD. They provide long lasting relief from acid reflux and heartburn.
Weakness: Long term use of PPIs can lead to nutritional deficiencies like low levels of magnesium, calcium and vitamin B12. They may also increase risk of fractures and bone loss.
Opportunity: Rising geriatric population suffering from acid reflux disorders provides scope to launch newer formulations and dosage forms of PPIs for easier administration to elderly. Growing awareness about digestive health in developing nations is another growth driver.
Threats: Availability of cheaper generic drugs poses pricing pressure on branded PPIs. Growing popularity of alternative therapies like probiotics also threatens market growth.
Key Takeaways
The Global Proton Pump Inhibitors Market Share is expected to witness high growth. The global Proton Pump Inhibitors Market is estimated to be valued at US$ 3.8 Mn in 2024 and is expected to exhibit a CAGR of 6.7% over the forecast period 2024 to 2031.
The North America region currently dominates the PPI market owing to high patient awareness, developed healthcare infrastructure and presence of leading players. However, Asia Pacific region is anticipated to grow at fastest CAGR during the forecast period due to growing aged population, increasing healthcare spending and rising digestive diseases in developing countries like India and China.
Key players operating in the Proton Pump Inhibitors market are Horizon Therapeutics plc, Ammonett Pharma LLC, Medison Pharma Ltd., Modern Dietetics Inc., Entera Health, Inc., Dipharma Francis S.r.l., Ucyclyd Pharma, Inc. Horizon Therapeutics has strong brand presence for ulcer drug brands in North America. Ammonett Pharma markets low cost generic PPIs in emerging markets. Medison Pharma and Entera Health are engaged in developing novel formulations for pediatric use.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
