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Proton Pump Inhibitors is Estimated to Witness High Growth Owing to Rising Prevalence of Gastrointestinal Diseases

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Proton pump inhibitors (PPIs) are a group of drugs which suppress gastric acid secretion by inhibiting the hydrogen-potassium adenosine triphosphatase enzyme system (the proton pump) of the gastric parietal cells. They are the most potent inhibitors of acid secretion available today. PPIs provide effective relief from symptoms such as heartburn and are commonly recommended for conditions like gastroesophageal reflux disease. Most PPIs are available by prescription as well as over-the-counter for short-term use.

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 6.7% 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 for the proton pump inhibitors market growth is the rising prevalence of gastrointestinal diseases such as acid reflux, gastroesophageal reflux disease (GERD), peptic ulcers and Zollinger-Ellison syndrome. Acid reflux condition affects around 20% of the global population sometimes or long term and requires medication like PPIs. PPI drugs are also commonly prescribed for preventing gastrointestinal problems caused due to usage of painkillers like ibuprofen which further increases their demand. Growing geriatric population is another factor fueling the market as elderly are at higher risk of gastrointestinal disorders. However, long term usage of PPIs has risks of side effects like vitamin B12 deficiency, pneumonia and bone fractures that may limit their adoption.

SWOT Analysis
Strength: Proton Pump Inhibitors are commonly used for the treatment of acid reflux, ulcers and other gastrointestinal issues. They effectively reduce stomach acid production and provide quick relief from heartburn. PPIs are available in various dosage forms including tablets, capsules and suspension which make them convenient to take.

Weakness: Long term usage of PPIs has been linked to certain health risks like kidney damage, bone fractures and magnesium deficiency. They may also interact with other medications taken concurrently. Overuse of PPIs can reduce protective effects of stomach acid and increase susceptibility to foodborne illnesses.

Opportunity: With rising incidence of lifestyle diseases, the market for drugs to treat acid reflux and ulcers is growing. Growing awareness about Side effects of PPIs presents an opportunity to develop safer alternative drugs. Promoting short term use of PPIs only for approved conditions can help reduce misuse and side effects.

Threats: Increased competition from generic drugs and alternative medications poses pricing pressure on innovator brands. Regulatory changes to limit overprescription can negatively impact sales revenues. Safety concerns over long term use may reduce patient confidence in PPIs as a therapy class.

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 is projected to reach US$ 3.29 Billion by 2024.

Regional analysis: North America dominates currently due to high disease prevalence and advanced healthcare systems. However Asia Pacific region is expected to grow at fastest pace due to rising income levels, healthcare spending and growing patient pool of acid reflux. Countries like China, India and Japan will be major revenue generators.

Key players: 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. The market is competitive with players differentiating through new drug delivery systems, combination therapies and targeted marketing.

 

Explore more information on this topic, Please visit: https://www.newswirestats.com/proton-pump-inhibitors-market-size-and-outlook-2023-2030/

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