The proton pump inhibitors market comprises drugs used for the treatment of acid reflux, ulcers, and conditions that cause excessive production of stomach acid such as Zollinger–Ellison syndrome. Proton pump inhibitors act by suppressing gastric acid secretion. They are one of the most commonly prescribed classes of medications in the world foracid-related gastrointestinal conditions. The global 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 10.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
One of the key drivers that is estimated to propel the growth of the global proton pump inhibitors market during the forecast period is rising prevalence of diseases causing excessive acid production globally. For instance, according to the National Institute of Diabetes and Digestive and Kidney Diseases, in the U.S, over 60 million Americans experience gastrointestinal problems each year and about 25 million Americans have symptoms of gastroesophageal reflux disease (GERD). Proton pump inhibitors are a highly effective drug for treating conditions such as peptic ulcer disease, GERD, and Zollinger–Ellison syndrome. Increasing awareness regarding digestive disorders and their treatment options is also contributing to the growth of the proton pump inhibitors market. Additionally, new product launches by major players are also anticipated to aid the market growth over the next few years. For instance, in Jan 2022, Takeda Pharmaceutical Company Limited received approval for taking Nexium (esomeprazole) OTC for twice-daily dosing, allowing consumers to treat frequent heartburn symptoms with an extra strength OTC option.

SWOT Analysis

Strength: Proton pump inhibitors market has strong presence of established players with global reach. Their strong brand recall and distribution network act as strength for ensuring access to customers across geographies. In addition, continuous research & development activities undertaken by key players help in introducing innovative and effective treatment options for acid related disorders.

Weakness: high cost of major proton pump inhibitors drugs poses affordability challenges in low and middle income countries. Moreover, adverse effects associated with long term use such as diarrhea, constipation, headache can restrict growth potential of the market.

Opportunity: Untapped growth opportunities exist in developing regions of Asia Pacific and Latin America owing to rising awareness, growing healthcare expenditure and increasing incidence of acid reflux diseases. In addition, new drug formulations in pipeline and combination therapies are expected to drive future demand.

Threats: Entry of generic drugs poses pricing pressure on established brands. Moreover, alternative treatment options for acid reflux diseases including lifestyle changes and generic H2 blockers can hamper the growth of proton pump inhibitors market. Stringent regulatory guidelines for approval of new drugs is another challenge.

Key Takeaways

The Global Proton Pump Inhibitors Market Share is expected to witness high growth. The market size for 2023 is estimated at US$ 3.29 Bn registering a CAGR of over 10% during the forecast period of 2023 to 2030.

Regional analysis: Asia Pacific region dominates the market and is expected to maintain its lead position throughout the forecast period. Rising cases of acidity, growing healthcare expenditure and presence of high population base especially in China and India provide lucrative growth opportunities.

Key players: Key players operating in the Proton Pump Inhibitors market are Koninklijke TenCate (Netherlands), Low & Bonar (UK), Fibertex Nonwovens (Denmark), Thrace Group (Greece), Huesker (Germany), Berry Global (US), DuPont (US), Strata Systems (US), Leggett & Platt (US), Officine Maccaferri (Italy), GSE Environmental (US), Kaytech (South Africa), Mattex (Saudi Arabia), NAUE (Germany), Propex Operating Company (US), Carthage Mills (US), and Asahi Kasei Advance Corporation (Japan), among others. Major players are focusing on new product launches and expansion in emerging regions for sustained growth.

For more details on the report, Read- https://www.ukwebwire.com/proton-pump-inhibitors-market-size-and-share/