Proton Pump Inhibitors Market
Number of pages: 100 | Report Format: PDF | Published date: March 14, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market Size Value in 2022 |
US$ 3.5 billion |
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Revenue Forecast in 2031 |
US$ 5.64 billion |
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CAGR |
4.2% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023-2031 |
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Historical Year |
2021 |
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Segments Covered |
Drug Type, Distribution Channel, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global proton pump inhibitors market was valued at US$ 3.5 billion in 2022 and is expected to register a revenue CAGR of 4.2% to reach US$ 5.64 billion by 2031.
Proton Pump Inhibitors Market Fundamentals
Proton pump inhibitors (PPIs) is a family of drugs that focuses primarily on reducing the production of stomach acid, a chemical that aids digestion. However, when it is released in excess amounts, it can cause heartburn, and ulcers in the stomach, or the first section of the small intestine, negatively impacting health. PPIs also aid in various other stomach issues, particularly in conditions such as gastroesophageal reflux disease (GERD), where stomach acid frequently leaks into the esophagus. PPIs are used more commonly than H2 blockers. These PPIs are offered in pills and capsules that the patient takes orally. Furthermore, the emergence of the microscopic clinical ailment known as colitis contributes to expanding the market. Moreover, by concentrating on suppressing acid secretion, the proton pump is directly accountable for the discharge of H+ ions into the stomach lumen, which is typically seen in gastric acid secretion. Some common PPIs include omeprazole (Prilosec), esomeprazole (Nexium), lansoprazole (Prevacid), pantoprazole (Protonix), and rabeprazole (Aciphex). These drugs are available both by prescription and over the counter.
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Proton Pump Inhibitors Market Dynamics
PPIs are the gold standard treatment for GERD. The two main factors driving the revenue growth of the proton pump inhibitors market are the rising prevalence of GERD and the expanding acceptability of innovative medication delivery technologies. Moreover, GERD is primarily brought on by risk factors such as aging, obesity, delayed stomach emptying, changing smoking-related habits, and intake of alcohol, coffee, fatty, and fried meals. Also, according to information released by the WHO in October 2022, 1 in 6 of the world's population is predicted to be 60 years of age or older by 2030, and that number is expected to double to 2.1 by 2050. PPI usage is projected to rise with the growing elderly population, as aging is a significant risk factor for GERD. This aspect is predicted to boost the global proton pump inhibitors market revenue growth.
Key players in the global proton pump inhibitors market are also developing unique products and planning product releases to take advantage of market opportunities. For instance, the generic version of Prilose, Omeprazole Delayed-Release Capsules, 20mg, was introduced in March 2021 by Xiromed LLC, the generic subsidiary of Insud Pharmaceuticals in New Jersey. Such medicine launches are accelerating the revenue growth of the global proton pump inhibitors market. Moreover, the global market is growing due to the increasing movement from prescription to over-the-counter medications.
However, long-term PPI use has been associated with several safety concerns, including increased risk of kidney disease, osteoporotic fractures, pneumonia, and Clostridium difficile infection. As a result, many patients and healthcare providers are becoming increasingly cautious about using PPIs, which could limit their usage and ultimately affect the proton pump inhibitors market. Alternative treatments are available for acid-related disorders, such as H2 receptor antagonists and antacids. In some cases, lifestyle modifications, such as dietary changes and weight loss, may also be effective.
Proton Pump Inhibitors Market Ecosystem
The global proton pump inhibitors market has been analyzed from three perspectives: drug type, distribution channel, and region.
Proton Pump Inhibitors Market by Drug Type
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Based on drug type, the global proton pump inhibitors market has been segmented into omeprazole, esomeprazol, pantoprazole, rabeprazole, dexlansoprazole, and others.
The esomeprazole segment accounts for the largest revenue share in the global proton pump inhibitors market. Since it's mostly used to treat the signs and symptoms of GERD, heartburn, and other conditions involving severe stomach acid, the drug's sales are expected to be heavily influenced by the change from being a prescription-only drug to being over the counter.
Proton Pump Inhibitors Market by Distribution Channel
Based on the distribution channel, the global proton pump inhibitors market has been segmented into hospital pharmacies, retail pharmacies, and others.
The hospital pharmacies segment accounts for the largest revenue share in the global proton pump inhibitors market. This is because PPIs are prescribed to hospitalized patients who require treatment for conditions such as peptic ulcers or esophagitis. In these cases, hospital pharmacies have a direct relationship with the healthcare providers responsible for patient care, and they are typically the ones who purchase and distribute the medications. Secondly, hospital pharmacies have better bargaining power when negotiating prices with drug manufacturers than retail pharmacies. This is because hospitals typically purchase medications in larger quantities, which allows them to negotiate better prices and discounts. Additionally, hospital pharmacies often have more resources available to manage the storage and distribution of medications, which is particularly important for PPIs as they require special storage conditions and have a relatively short shelf life. This makes it easier for hospitals to manage their PPI inventory and reduce waste due to expired medications. Overall, due to the high demand for PPIs in hospital settings and the advantages that hospital pharmacies have in terms of purchasing power and resources, they currently dominate the market for these medications.
Proton Pump Inhibitors Market by Region
Based on the region, the global proton pump inhibitors market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounts for the largest revenue share in the proton pump inhibitors market. Due to a rise in unhealthy lifestyles, GERD is becoming more prevalent in the United States, Canada, and Mexico. According to a March 2022 article in the Journal of Annals of Esophagus, 10% to 20% of people in the United States are affected on a weekly basis, and 40% of the population is thought to experience GERD symptoms. PPIs are one of the most prescribed medications in the United States, and during the past few years, ambulatory settings throughout the country have seen an upsurge in PPI usage. Also, several businesses are investing extensively in brand promotion. The American Board of Internal Medicine was alerted to the widespread usage of PPIs, and as a result, the board launched a campaign to encourage their proper use. Moreover, the market is anticipated to be impacted by product launches in generic categories. For instance, Dr. Reddy's Laboratories Ltd. introduced lansoprazole DR, orally disintegrating tablets, in February 2021. This product is a therapeutically equivalent generic version of Prevacid soluTab delayed-release orally disintegrating tablets, 15 mg and 30 mg, approved by the United States Food and Drug Administration (USFDA). The market is growing as a result of such generic medicine launches.
The proton pump inhibitors market in Asia Pacific is expected to experience significant growth in the coming years due to the increasing incidence of GERD and peptic ulcers, rising awareness about the availability of PPIs as an effective treatment option, and growing healthcare expenditure in the region. In addition, the availability of generic PPIs is also contributing to the revenue growth of the market as they are more affordable than branded PPIs. This has increased the accessibility of PPIs to a larger patient population, particularly in low- and middle-income countries. Overall, the Asia Pacific PPIs market is expected to grow in the coming years due to the increasing incidence of GERD and peptic ulcers, growing awareness about the availability of PPIs, and the accessibility to generic PPIs at a lower cost.
The proton pump inhibitors market in Latin America is experiencing steady growth. Brazil and Mexico are identified as the largest markets for PPIs in the region, due to their large populations and high prevalence of GERD and other related conditions. However, other countries in the region, such as Argentina, Chile, and Colombia, were also expected to experience growth in the market, driven by factors such as increasing awareness of GERD and other digestive disorders, rising healthcare expenditure, and expanding access to healthcare services. Some of the key players in the Latin American PPI market included AstraZeneca, Pfizer, Takeda Pharmaceutical Company, and Eisai Co. Ltd. These companies were investing in research and development activities to develop more effective and innovative PPIs and other related products, which are expected to drive market revenue growth over the coming years.
Proton Pump Inhibitors Market Competitive Landscape
The prominent players operating in the global proton pump inhibitors market are:
Strategic Developments
The global proton pump inhibitors market is expected to grow at a revenue CAGR of 4.2% during the forecast period.
Takeda Pharmaceuticals, Cadila Pharmaceuticals, Eli Lilly & Company, Pfizer Inc., and Teva Pharmaceuticals are among the key players in the global proton pump inhibitors market.
The hospital pharmacies segment accounts for the largest revenue share in the global proton pump inhibitors market.
The increasing shift from prescription to over-the-counter drugs is driving the revenue growth of the proton pump inhibitors market.
The global proton pump inhibitors market was valued at US$ 5.64 billion in 2023.
*Insights on financial performance are subject to the availability of information in the public domain