The global Proton Pump Inhibitors Market Growth Accelerated by Rising Prevalence of GERD
Proton pump inhibitors (PPIs) are medicines that reduce the amount of stomach acid produced. PPIs are the most common treatment for acid reflux, ulcers, and inflammation of the esophagus. They work by blocking the action of the proton pump, an enzyme on the surface of gastric parietal cells. This enzyme is responsible for the final step in acid production in the stomach.
The global Proton Pump Inhibitors 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 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising prevalence of gastrointestinal disorders such as gastroesophageal reflux disease (GERD) is one of the major factors driving the growth of the proton pump inhibitors market. GERD occurs when stomach acid or contents flow back into the esophagus. PPIs are a very effective treatment for patients suffering from GERD and help prevent damage to the esophagus caused by stomach acid irritation. According to the American Academy of Family Physicians, approximately 60 million Americans are affected by acid reflux symptoms at least once a month. The increasing cases of GERD are expected to fuel demand for PPIs over the forecast period. Self-medication and rising awareness among people regarding acidity management are also contributing to market growth.
Segment Analysis
The global proton pump inhibitors market is dominated by the OTC sub-segment. Easy availability of OTC proton pump inhibitors without prescriptions make them a preferred choice for instant relief from acid reflux and heartburn symptoms. Customers can purchase common OTC drugs like omeprazole to treat occasional acidity, thereby driving higher sales volume for the OTC sub-segment compared to prescription drugs.
Key Takeaways
The Global Proton Pump Inhibitors Market Share is expected to witness high growth over the forecast period of 2024 to 2031. The global Proton Pump Inhibitors 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 2024 to 2031.
The North American region currently dominates the global proton pump inhibitors market owing to rising prevalence of acid reflux diseases and large patient pool seeking medication for heartburn relief in countries like the US and Canada. Moreover, high awareness regarding proton pump inhibitors and easy access to OTC drugs in the region also contributes to its commanding market share.
Key players related content comprises:
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. Horizon Therapeutics plc maintains its leadership position in the global market through its comprehensive branded and generic product portfolio.
For more insights, Read- https://www.marketwebjournal.com/proton-pump-inhibitors-market-trends-size-and-share-analysis/
Get more insights on this topic: https://captionssky.com/bottled-water-industry-in-united-states-an-ever-growing-segment/
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