The Proton Pump Inhibitors Market Is Estimated To Witness High...

The Proton Pump Inhibitors Market Is Estimated To Witness High Growth Owing To Growing Geriatric Population

Posted 2023-11-29 13:40:23

The Proton Pump Inhibitors market is estimated to be valued at US$ 3.29 Bn or Mn in 2023 and is expected to exhibit a CAGR of 4.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Proton pump inhibitors (PPIs) are a group of medicines that work by reducing the amount of acid produced in the stomach. They are commonly prescribed to treat acid reflux, ulcers, and other gastrointestinal disorders. Major PPI products available in the market include omeprazole, esomeprazole, lansoprazole, pantoprazole and rabeprazole. They are available in the form of capsules, tablets and for intravenous use. The major end-users of PPIs are hospitals, retail pharmacies, and online pharmacies.

Market Dynamics:
The global PPI market is expected to witness significant growth owing to the growing geriatric population worldwide which is more prone to gastrointestinal disorders. As per the UN estimates, the number of people aged 65 years or older is projected to grow from about 524 million in 2010 to nearly 1.5 billion in 2050. Another major driver for the market growth is the increasing prevalence of acid reflux diseases such as gastroesophageal reflux disease (GERD). GERD affects approximately 20% of the U.S. population weekly and approximately 7% daily. The rising awareness about these diseases and availability of new PPI products with enhanced efficacy and fewer side effects is also fueling the demand for PPIs globally. However, the market faces certain challenges due to presence of alternative drugs such as histamine-2 receptor antagonists (H2 blockers) and risks of side effects associated with long-term use of PPIs such as pneumonia, Clostridium difficile infection, bone fractures and vitamin B12 deficiency.

SWOT Analysis
Strength:
Three sentence explanation about growing aging population and increasing prevalence of acidity and other gastric issues which drive the demand.

Three sentence explanation about strong R&D capabilities and large product portfolios of key players to cater diversified needs.
Three sentence explanation about effective treatment against acid reflux and ulcers with minimal side effects boosting the market growth.

Weakness:
Two sentence explanation about patent expiries of blockbuster drugs impeding the market growth.
Three sentence explanation about stringent regulations for new drug approvals delaying product launch and impacting revenues.

Opportunity:
Three sentence explanation about scope for market expansion in developing countries with large patient pool and increasing healthcare spending.
Three sentence explanation about opportunities from new product launches with novel drug delivery systems and combination therapies.

Threats:
Two sentence explanation about threat from generic drug manufacturers eroding brand values after patent expiration.
Two sentence explanation about alternative treatment options limiting the exclusive use of PPIs impeding market revenues.

Key Takeaways

The global Proton Pump Inhibitors Market is expected to witness high growth, exhibiting CAGR of 4.3% over the forecast period, due to increasing prevalence of gastric ulcers and acid reflux disorders. Growing geriatric population being more prone to such digestive issues further drives the market growth.

Regional analysis:
North America is expected to dominate the global proton pump inhibitors market over the forecast period. This is attributed to the rising prevalence of acid reflux disorders and ulcers in the region. Europe is also among the major markets holding significant share owing to growing awareness about PPIs treatment. Meanwhile, Asia Pacific proton pump inhibitors market is set to exhibit growth at a notable rate backed by expansions of key players to tap the large patient pool in the region.

Key players:
Key players operating in the proton pump inhibitors market are AstraZeneca PLC/AB, Bayer AG, Pfizer Inc., Cadila Pharmaceuticals Limited, Eisai Pharmaceuticals India Pvt. Ltd, Santarus, Inc., Wyeth, LLC, Janssen Pharmaceutica, Takeda Pharmaceutical Company Limited, Sanofi S.A, Aurobindo Pharma, Perrigo Company plc, Dr. Reddy's Laboratories, Aralez Pharmaceuticals Inc., RedHill Biopharma Ltd (ADR) and Cipla Limited. These companies hold major share with their diverse product portfolio and global presence.

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