July 16, 2024
Proton Pump Inhibitors Market

Proton Pump Inhibitors Market is Expected to be Flourished by Increasing Prevalence of Gastroesophageal Reflux Disease

Proton pump inhibitors are widely used drugs for the treatment of acid-related gastrointestinal disorders such as gastric ulcer, gastroesophageal reflux disease, and Zollinger-Ellison syndrome. Proton pump inhibitors work by irreversibly binding to and blocking the action of the gastric H+,K+-ATPase enzyme system located at the secretory surface of gastric parietal cells. This blocking of the enzyme system stops the production of gastric acid in the stomach. Some popular proton pump inhibitor medications include omeprazole, pantoprazole, lansoprazole, rabeprazole, and esomeprazole. With the increasing prevalence of gastroesophageal reflux disease worldwide, the demand for proton pump inhibitors is growing. According to a report by NIH, over 60 million Americans experience heartburn at least once a month, while about 15 million Americans experience symptoms of GERD every day. The global proton pump inhibitors Market is estimated to be valued at US$ 3.29 Bn in 2023 and is expected to exhibit a CAGR of 10 % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
The increasing prevalence of gastroesophageal reflux disease (GERD) is one of the key driver boosting growth of the proton pump inhibitors market. GERD is a common digestive disorder that affects millions of Americans. It occurs when stomach acid or contents flow back from the stomach into the esophagus. Risk factors associated with GERD include obesity, pregnancy, smoking, dietary factors and overeating late at night. Proton pump inhibitors are effective drugs used to reduce acid production and provide relief from acid reflux. Another major driver is rising geriatric population worldwide which is more prone to develop acid-related disorders due to aging associated weakened esophageal sphincter. According to United Nations report, number of people aged 65 years and above is projected to grow from 703 million in 2019 to 1.5 billion in 2050 globally. However, availability of alternative medications such as H2 blockers and antacids pose a challenge for market growth of proton pump inhibitors. Moreover, side effects from long-term use of PPIs and risk of fracture of hip, wrist and spine also hinder the market expansion over the forecast period.

Segment Analysis
The Global Proton Pump Inhibitors Market Share can be segmented into omeprazole, pantoprazole, lansoprazole, rabeprazole, and others. Among these, omeprazole dominates the market with over 30% share globally. This is because omeprazole is a widely prescribed drug for acid reflux and heartburn conditions. It has been in the market for a long time and has established brand recognition among doctors and consumers.

PEST Analysis
Political: There are no significant political factors influencing the proton pump inhibitors market.
Economic: Rising healthcare expenditure in developing countries is driving market growth. Growing population with acid reflux and ulcers is also boosting demand.
Social: Growing awareness about acid reflux and heartburn conditions among consumers is a key social trend. People are more willing to seek medical treatment for digestive issues.
Technological: New drug delivery methods for proton pump inhibitors are being researched to improve bioavailability and efficacy. Once-daily dosing options are gaining popularity over multiple daily doses.

Key Takeaways
The global proton pump inhibitors market is expected to witness high growth over the forecast period of 2023 to 2030. The market size for 2023 is estimated to be US$ 3.29 Billion.

Regional analysis: North America dominates the proton pump inhibitors market currently due to high healthcare expenditure and growing obese population with acid reflux in the region. However, Asia Pacific region is expected to witness fastest growth during the forecast period due to increasing lifestyle diseases, rising medical tourism, and growing aging population.

Key players: Key players operating in the proton pump inhibitors market are Koninklijke TenCate, Low & Bonar, Fibertex Nonwovens, Thrace Group, Huesker, Berry Global, DuPont, Strata Systems, Leggett & Platt, Officine Maccaferri, GSE Environmental, Kaytech, Mattex, NAUE, Propex Operating Company, Carthage Mills, and Asahi Kasei Advance Corporation, among others. Koninklijke TenCate and Low & Bonar have largest market share for their wide product portfolio and geographical presence.

Note:
Source: Coherent Market Insights, Public sources, Desk research
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