The global Proton Pump Inhibitors Market is estimated to be valued at US$ 3.29 Bn or Mn in 2023 and is expected to exhibit a CAGR of 4.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Proton pump inhibitors (PPIs) are a type of antacid that reduce acid production in the stomach. PPIs provide effective relief from conditions like heartburn, acid indigestion, and sour stomach. They work by blocking the action of the proton pump, an enzyme on the stomach walls which is responsible for acid production in the stomach.
Market key trends:
One of the key trends in the Proton Pump Inhibitors Market is increasing prevalence of acid reflux diseases. Acid reflux occurs when stomach contents leak backwards from the stomach into the esophagus. It is a common condition that affects millions of people worldwide. The rising prevalence of lifestyle diseases and growing geriatric population are contributing to the increasing cases of acid reflux. As PPIs are the main choice of treatment for conditions like acid reflux and GERD, increasing cases is expected to drive the demand for PPIs over the forecast period.
SWOT Analysis
Strength: Proton Pump Inhibitors (PPIs) are very effective in suppressing stomach acid production. They are commonly prescribed for treating acid reflux and ulcers.
Weakness: Long term use of PPIs has been linked to rare but serious side effects like kidney disease and bone fractures. They may also interact with other medications.
Opportunity: Growing geriatric population suffering from acid-related diseases provides growth opportunities. Increasing adoption of over-the-counter PPIs without prescription also expands the market.
Threats: Availability of alternative medications and natural remedies for acid disorders pose competition. Patent expiries of major drugs allow entry of generic versions.
Key Takeaways
The global Proton Pump Inhibitors Market is expected to witness high growth, exhibiting a CAGR of 4.3% over the forecast period, due to increasing prevalence of acid reflux and gastric ulcers. North America dominates the market currently due to high consumption of OTC drugs and wide acceptance of PPIs. However, Asia Pacific is likely to emerge as the fastest growing region owing to rising geriatric population, growth in healthcare expenditure and increasing awareness.
Regional analysis: The North American region holds the major share in the global PPIs market currently due to robust healthcare infrastructure and rising cases of chronic disorders. The Asia Pacific region is anticipated to exhibit the highest CAGR during the forecast period due to enhancing patient access to therapies in emerging countries like India and China.
Key players operating in the Proton Pump Inhibitors market are AstraZeneca PLC/AB, Bayer AG, Pfizer Inc., Cadila Pharmaceuticals Limited, Eisai Pharmaceuticals India Pvt. Ltd, Santarus, Inc., Wyeth, LLC, Janssen Pharmaceutica, Takeda Pharmaceutical Company Limited, Sanofi S.A, Aurobindo Pharma, Perrigo Company plc, Dr. Reddy’s Laboratories, Aralez Pharmaceuticals Inc., RedHill Biopharma Ltd (ADR) and Cipla Limited.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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