May 22, 2024
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Proton Pump Inhibitors Market Is Estimated To Witness High Growth Owing To Rising ULCER And GERD Patients

Proton pump inhibitors (PPIs) are a type of drug that work by reducing the amount of stomach acid produced. Some key benefits of PPIs include the reduction of acid reflux symptoms and healing of erosive esophagitis. The risk of developing stomach ulcers is reduced with long-term use of PPIs. The need for PPIs has increased significantly over the years due to rising cases of ulcers and gastroesophageal reflux disease (GERD) worldwide.

With growing healthcare expenditure and demand for effective acid-reducing drugs, the global PPI 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 of 2024 to 2031.

Key Takeaways

Key players operating in the Proton pump inhibitors market are Horizon Therapeutics plc, Ammonett Pharma LLC, Medison Pharma Ltd., Modern Dietetics Inc., Synageva BioPharma Corp., Medison Pharma Ltd., Swedish Orphan Biovitrum AB (Sobi), Entera Health, Inc., Dipharma Francis S.r.l., Ucyclyd Pharma, Inc. New drug approval for treating rare diseases, expansion in emerging markets, and cost-effective generic versions are expected to create significant opportunities for players in the coming years. Technological advancements in drug delivery methods including once-daily dosage forms, pediatric-specific formulations, and fixed-dose combinations offer sustained release are expected to support the market growth.

Market Drivers

The increasing prevalence of acid-peptic disorders such as GERD and ulcers across the globe is a key factor driving the demand for PPIs. Rising levels of stress, changing lifestyles, and consumption of spicy and fatty foods have exacerbated acid reflux conditions. According to some estimates, over 60 million Americans experience acid reflux signs and symptoms monthly. Furthermore, growing awareness about early treatment of acid-peptic disorders to prevent severe complications like Barrett’s esophagus is boosting the adoption of PPI drugs. Supported by strong sales of branded drugs going off-patent, the proton pump inhibitors market is anticipated to grow rapidly over the forecast period.

Current Challenges in the Proton Pump Inhibitors Market

The Proton Pump Inhibitors Market Demand  is facing various challenges which are restraining its growth. One of the major challenge is increasing generics penetration worldwide. Many proton pump inhibitors are now available in generic formulations which are much cheaper compared to branded drugs. This has significantly reduced the revenue of major players in this market. Another challenge is growing side effects and risks associated with long term consumption of PPIs. Long term usage of PPIs is linked with increased risk of fractures, pneumonia, vitamin B12 deficiency, magnesium deficiency, and Clostridium difficile infection. This is discouraging doctors from prescribing PPIs for longer duration and impacting sales. Stringent regulations for approval of new drugs is also a challenge for market players.

SWOT Analysis

Strength: Wide range of therapeutic applications in conditions like gastric acid-related diseases.

The United States accounts for around 30-35% of the global proton pump inhibitors market in terms of value due to large patient pool and higher healthcare spending. Western European countries especially Germany, France and UK also have major market share due to favourable reimbursement policies. Asia Pacific region is emerging as the fastest growing market for PPIs led by countries like India and China. Expanding healthcare infrastructure and increasing affordability are driving market growth in this region.

China alone contributes around 15-18% to global market revenue currently and is expected to reach 20% by 2030 due to rapidly rising middle class population and healthcare expenditures in the country. Latin America is also projected to witness strong double digit growth during forecast period with Brazil and Mexico becoming high potential markets. More focus of major companies on emerging markets through partnerships and generic drug supplies will further aid regional expansion.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.