The new report by Expert Market Research titled, ‘Global Proton Pump Inhibitors Market Size, Share, Report and Forecast 2023-2028’, gives in-depth analysis of the global proton pump inhibitors market, assessing the market based on its segments like drug type and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Forecast Market Size (2028): USD 3.52 Billion
The rise in the geriatric population having stomach problems and increasing prevalence of gastrointestinal disorders and gastroesophageal reflux disease owing to unhealthy diet patterns and increasing sedentary work culture are the major factors driving the global proton pump inhibitor market to industry progress over the projected period. GERD affects people of all ages, but those who have asthma are more likely to get it. Additionally, the rising prevalence of peptic ulcers and gastric acid disorders, as well as the increasing demand for new delivery technologies, are propelling the market forward.
Proton Pump Inhibitors Industry Definition and Major Segments
Proton pump inhibitors (PPIs) are a class of medications that function by inhibiting the generation of acid in the stomach’s lining cells. They are marketed under numerous brand names and include esomeprazole, lansoprazole, omeprazole, pantoprazole, and rabeprazole.
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The industry can be broadly categorised based on its product types into:
- OTC Drugs
- Prescription Drugs
Based on region, the market is segmented into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Proton Pump Inhibitors Market Trends
The rising incidence of obesity in adults and adolescents is associated with a variety of gastroesophageal reflux disease (GERD)-related disorders, including Barrett’s oesophagus (BE), esophageal erosions, and esophageal cancer. Additionally, the rising prevalence of gastrointestinal illnesses such as duodenal ulcers, Barrett’s oesophagus, and non-erosive reflux disease (NERD) is likely to propel the worldwide proton pump inhibitor market. According to a report issued in July 2020 by the US National Library of Medicine, more than 60% of Americans suffer from non-erosive reflux disease (NERD), and 30% suffer from barrets oesophagus. Esomeprazole is one of the most profitable pharmaceuticals on the market, and it is primarily used to treat the symptoms of GERD, heartburn, and other conditions characterised by an excess of stomach acids.
The transition from a prescription-only to an over-the-counter (OTC) drug is likely to be a major driver of the drug’s sales in the near future. Additionally, prominent market players are concentrating their efforts on research and development and market expansion activities in order to deliver innovative and trustworthy formulations to market. For example, in July 2020, Cadila Pharmaceuticals launched esomeprazole tablets in India under the brand name Esiloc for the treatment of hyperacidity and drug-induced gastritis. As a result of the aforementioned factors, the Esomeprazole segment is likely to experience rapid expansion.
Key Market Players
The major players in the market are AstraZeneca plc, Bayer AG, Eli Lilly and Company, Eisai Inc., GlaxoSmithKline PLC, Johnson & Johnson, Pfizer Inc., Santarus Inc., Takeda Pharmaceuticals, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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