PUBLISHER: The Business Research Company | PRODUCT CODE: 1414523
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414523
“Proton Pump Inhibitors Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on proton pump inhibitors market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for proton pump inhibitors? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The proton pump inhibitors market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Proton pump inhibitors (PPIs) constitute a category of medications designed to diminish the production of stomach acid. They find application in addressing conditions arising from either an excessive production of stomach acid or conditions aggravated by such acidity, including acid reflux and stomach ulcers.
The primary types of proton pump inhibitors encompass pantoprazole, omeprazole, lansoprazole, esomeprazole, rabeprazole, dexlansoprazole, and other derivatives. Pantoprazole, belonging to the proton pump inhibitor class, operates by reducing the volume of acid generated by the stomach. These medications play a crucial role in the treatment of ulcers, gastroesophageal reflux disease (GERD), and other related conditions. The usage of proton pump inhibitors is widespread in various healthcare settings, including hospitals, clinics, and other treatment centers, where they contribute significantly to managing acid-related disorders.
The proton pump inhibitors market research report is one of a series of new reports from The Business Research Company that provides proton pump inhibitors market statistics, including proton pump inhibitors industry global market size, regional shares, competitors with a proton pump inhibitors market share, detailed proton pump inhibitors market segments, market trends, and opportunities, and any further data you may need to thrive in the proton pump inhibitors industry. This proton pump inhibitors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The proton pump inhibitors market size has grown steadily in recent years. It will grow from $3.3 billion in 2023 to $3.44 billion in 2024 at a compound annual growth rate (CAGR) of 4.5%. The growth observed in the historical period can be attributed to several factors, including the prevalence of gastroesophageal reflux disease (GERD), the incidence of peptic ulcer disease, a growing aging population, shifts in lifestyles and dietary habits, as well as an increase in awareness and improved diagnostic practices. These factors collectively contributed to the expanding market for medications, such as proton pump inhibitors (PPIs), which are commonly used to address conditions associated with stomach acid, such as GERD and peptic ulcers. The rise in chronic conditions, coupled with demographic and societal changes, has played a significant role in shaping the demand for treatments aimed at managing acid-related disorders.
The proton pump inhibitors market size is expected to see steady growth in the next few years. It will grow to $4.12 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%.The anticipated growth in the forecast period can be attributed to the adoption of proton pump inhibitors (PPIs) in emerging markets, an increase in the prevalence of Helicobacter pylori infections, initiatives focused on patient education, and strategic marketing and promotional activities. Significant trends expected in the forecast period encompass the integration of PPIs with digital health solutions, the expansion of the global market, a heightened focus on education related to gastrointestinal health, updates in regulatory measures and safety protocols, and considerations for the environmental impact of these medications. These factors collectively contribute to the evolving landscape of PPI usage and market dynamics, reflecting a multifaceted approach to address both medical and environmental considerations in the forecasted period.
The growth of the proton pump inhibitors market is anticipated to be driven by the increasing prevalence of gastrointestinal disorders. Gastrointestinal disorders encompass a range of conditions affecting the gastrointestinal (GI) tract, including nausea, vomiting, food poisoning, and diarrhea. Proton pump inhibitors (PPIs) play a crucial role in managing heartburn and acid-related disorders by reducing the production of stomach acid. The rising incidence of gastrointestinal disorders, as evidenced by statistics from organizations such as Cancer Australia, where stomach cancer cases are projected to reach 2,572 in 2022, underscores the demand for PPIs in addressing these health challenges. Additionally, insights from the American Gastroenterological Association reveal that severe gastrointestinal symptoms have led over 40% of Americans to curtail daily activities in the past year. This substantial impact on individuals' lives further emphasizes the need for effective treatments such as proton pump inhibitors.
The increased occurrence of Helicobacter pylori infections is expected to contribute to the growth of the proton pump inhibitor market. Helicobacter pylori is a bacterial infection affecting the upper part of the small intestine and the stomach lining. PPIs are commonly prescribed as part of treatment plans for H. pylori infections, often in combination with antibiotics. The global prevalence of H. pylori infections, highlighted by the Best Practice Advocacy Centre New Zealand, with over 50% of people worldwide infected and higher rates in Africa, Asia, and Latin America, emphasizes the widespread need for effective therapies such as proton pump inhibitors to address this bacterial infection. This dual influence of gastrointestinal disorders and H. pylori infections underscores the significant role PPIs play in addressing prevalent health issues and driving market growth.
Product innovation is a prominent trend gaining momentum in the proton pump inhibitors market, with major companies strategically focusing on the development of innovative products to enhance their market position and gain a competitive edge. A notable example is Xiromed LLC, the US-based generic division of Insud Pharmaceuticals, which launched Omeprazole Delayed-Release Capsules, 20mg, in March 2021. This generic version of Prilosec is designed to treat symptoms associated with gastroesophageal reflux disease (GERD) and conditions caused by excess stomach acid. Omeprazole, a proton pump inhibitor, effectively addresses gastric acid-related disorders such as GERD and peptic ulcer disease.
Companies in the proton pump inhibitor market are also directing their efforts towards obtaining approvals for innovative products. One such instance is the U.S. Food and Drug Administration (FDA) approval of KONVOMEP, an oral suspension containing omeprazole and sodium bicarbonate. This product aims to treat active benign gastric ulcers and reduce the risk of upper gastrointestinal bleeding in critically ill patients. KONVOMEP, being a liquid mixture of sodium bicarbonate and the proton pump inhibitor omeprazole, is particularly beneficial for individuals who have difficulty swallowing tablets or capsules. Azurity Pharmaceuticals, Inc., a US-based pharmaceutical company, secured FDA approval for Konvomep in September 2022, addressing the need for liquid medication options, especially for those with difficulty swallowing solid oral doses.
In July 2022, Glenmark Pharmaceuticals Limited, an India-based pharmaceutical company, acquired the Abbreviated New Drug Application (ANDA) for famotidine tablets from Wockhardt, marking a strategic move in expanding its presence in the American over-the-counter (OTC) market. The acquired ANDA includes famotidine tablets, cetirizine hydrochloride tablets, lansoprazole delayed-release capsules, and olopatadine hydrochloride ophthalmic solution. This acquisition reflects Glenmark's commitment to ensuring patient access to high-quality and affordable medications.
Major companies operating in the proton pump inhibitors market report are AstraZeneca plc, Pfizer Inc., Cadila Pharmaceuticals Limited, Eisai Pharmaceuticals India Pvt. Ltd., Wyeth LLC, Eli Lilly and Company, Bayer AG, Takeda Pharmaceutical Company, Santarus Inc., Janssen Pharmaceuticals, GlaxoSmithKline plc, Changzhou Siyao Pharmaceuticals, Yangzhou Pharmaceutical, Sanofi S.A., Johnson & Johnson, Novartis International AG, Teva Pharmaceutical Industries Ltd., Mylan N.V., Sun Pharmaceutical Industries Ltd., Dr. Reddy's Laboratories Ltd., Lupin Limited, Torrent Pharmaceuticals Ltd., Zydus Cadila, Glenmark Pharmaceuticals Ltd., Alkem Laboratories Ltd., Cipla Limited, Hetero Drugs Limited, Intas Pharmaceuticals Ltd., Macleods Pharmaceuticals Ltd., Micro Labs Ltd., Natco Pharma Limited, Panacea Biotec Ltd., Strides Pharma Science Limited, Wockhardt Ltd.
North America was the largest region in the proton pump inhibitors market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global proton pump inhibitors market size during the forecast period. The regions covered in the proton pump inhibitors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the proton pump inhibitors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The proton pump inhibitors market consists of sales of pantoprazole, and lansoprazole DR. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.