Global Proton Pump Inhibitors Market - 2022-2029

Global Proton Pump Inhibitors Market - 2022-2029

Market Overview

Proton Pump Inhibitors Market size was valued US$ 3.0 billion in 2021 and is estimated to reach US$ 4.0 million by 2029, growing at a CAGR of 4.9% during the forecast period (2022-2029).

Proton pump initiators (PPIs) are medications that are primarily used to significantly and persistently reduce the levels of stomach acid in people with hyperacidity, gastroesophageal reflux disease, and ulcers.

Market Dynamics

The growth of the market is majorly driven by increasing number of peptic ulcers and other gastrointestinal problems, one of the primary factors driving the acceptance of innovative drug delivery systems. In addition, new product introductions and rising consumer acceptance of novel medicine delivery technologies present market players with enormous development potential.

Increasing prevalence of GERD coupled with novel drug delivery systems are expected to drive market growth

The two main drivers driving the growth of the market are the rising prevalence of gastroesophageal reflux disease (GERD) and the expanding acceptability of innovative medication delivery technologies. Proton pump inhibitors are the gold standard treatments for GERD.

Additionally, the main causes of GERD include risk factors like age, obesity, delayed stomach emptying, changing smoking-related habits, and use of alcohol, coffee, fatty, and fried meals. Furthermore, according to a report by the United Nations titled ""World Population Ageing Report, 2020,"" there were 727 million individuals in the world who were 65 or older as of 2020, and that figure is expected to increase to 1.5 billion by 2050.

Additionally, major industry participants are developing novel products and launching new products to take advantage of market prospects. 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 market's expansion.

The side effects associated with the proton pump inhibitors are the major factors hindering the growth of the market

Proton pump inhibitors lead to a risk of Clostridium difficile infection of the colon. Also, the long-term usage of PPI may increase risk of osteoporosis-related fractures of the hip, wrist, or spine.

COVID-19 Impact Analysis

Numerous studies have shown that people taking proton pump inhibitors have a higher risk of COVID-19. More than 53,000 users of proton pump inhibitors took part in the study described in the August 2020 article titled ""Increased Risk of COVID-19 Among Users of Proton Pump Inhibitors,"" 3,386 of whom reported having tested positive for COVID-19. Patients undergoing proton-pump inhibitor therapy are encouraged to consume fewer drugs and avoid these medications unless there is an emergency. This factor is expected to impact market growth. Therefore, COVID-19 considerably affects the expansion of the market under investigation.an increase in amputations.

Industry Analysis

The global proton pump inhibitors market provides in-depth analysis of the market based on various industry factors such as porter’s five forces, regulatory analysis, reimbursement analysis, supply chain analysis, pricing analysis, pipeline analysis etc.

Segment Analysis

Esomeprazole segment is expected to hold the largest market share in global proton pump inhibitors market

Since it is mainly used to treat the signs and symptoms of GERD, heartburn, and other problems involving excessive stomach acids, esomeprazole is anticipated to account for a sizeable portion of the income. Additionally, the drug's imminent transition from an over-the-counter (OTC) drug to a prescription-only medication will likely impact sales considerably.

Major market competitors are also concentrating on R&D and market expansion initiatives to introduce new and dependable formulations to the market. For instance, in July 2020, Cadila Pharmaceuticals introduced esomeprazole tablets under the trade name Esiloc in India to treat hyperacidity and medication-induced gastritis.

The market participants' strategic actions are also accelerating the segment's expansion. For example, in March 2021 Daiichi Sankyo Co., Ltd. gave AstraZeneca in Japan the marketing and distribution rights for the proton pump inhibitor Nexium 10 mg and 20 mg capsules and Nexium 10 mg and 20 mg granules for suspension (esomeprazole magnesium).

Geographical Analysis

North America region holds the largest market share in the global proton pump inhibitors market

North America presently dominates the proton pump inhibitors market, and it is predicted that it will continue to do so during the forecast period without experiencing any notable changes. However, due to a rise in unhealthy lifestyles, GERD is becoming more prevalent in the United States, Canada, and Mexico. About 20% of Americans, according to the National Institute of Diabetes and Digestive and Kidney Diseases Statistics of 2020, have GERD.

Proton pump inhibitors are one of the most commonly prescribed medications in the US, and during the past few years, ambulatory settings throughout the country have seen an upsurge in PPI use. Additionally, many companies are investing extensively in brand promotion. The American Board of Internal Medicine took notice of the growing usage of PPIs and launched a campaign to encourage their proper use.

Additionally, it is anticipated that generic product launches will affect the market. As an illustration, 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, and it has received approval from the US Food and Drug Administration (USFDA). Such generic medicine introductions are accelerating the market's expansion.

Competitive Landscape

The proton pump inhibitors market is highly competitive, owing to the presence of big brands. Also, the market is highly fragmented due to the presence of several large and regional players. The key players which are contributing to the growth of the global market include Bayer, AstraZeneca, Pfizer, Inc, Eli-Lilly, Teva Pharmaceuticals, Cadila pharmaceuticals, Janssen Global Services, Takeda Pharmaceuticals and Eisai Pharmaceuticals.

Key Companies to Watch

Pfizer Inc:

Overview: Pfizer Inc. is an American multinational pharmaceutical company that offers medicines, vaccines, medical devices, and consumer healthcare products for oncology, inflammation, cardiovascular, and other therapeutic areas. Pfizer Limited has a portfolio of over 150 products across 15 therapeutic areas. The company develops and produces medicines and vaccines for a wide range of medical disciplines, including immunology, oncology, cardiology, endocrinology, and neurology. The company also offers orthodontic solutions, Proton Pump Inhibitors solutions, surgical devices, consumer health, micro fluidics, medical grade tapes and adhesive technologies to medical device manufacturers.

Product Portfolio: PROTONIX- PROTONIX is a proton pump inhibitor indicated for short-Term treatment of erosive esophagitis associated with gastroesophageal reflux disease (GERD).

The global proton pump inhibitors market report would provide an access to an approx. 45+market data table, 40+figures and 180pages.