Future Market Insights (FMI), a leading market research firm, has unveiled its latest industry analysis, forecasting a robust expansion in the Global Proton Pump Inhibitors Industry. Anticipating a Compound Annual Growth Rate (CAGR) of 5.2%, the market is poised to surge from a valuation of US$ 2.8 Billion in 2022 to a substantial US$ 4.9 Billion by 2033.
The driving force behind this remarkable growth is the escalating prevalence of gastrointestinal disorders on a global scale. Conditions such as gastroesophageal reflux disease (GERD), peptic ulcers, and Helicobacter pylori infections are becoming increasingly prevalent, underscoring the critical need for effective treatment options.
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Strong research and development (R&D) activities are a key driver of the Proton Pump Inhibitor (PPI) market. Ongoing R&D efforts in the field of gastroenterology and drug development have led to the introduction of new and improved PPI formulations. These innovations, including novel drug delivery systems and enhanced efficacy profiles, attract healthcare professionals and patients alike. The continuous pursuit of advancements in PPI medications not only improves treatment options but also addresses the evolving needs of patients with gastrointestinal disorders. Consequently, the market for PPIs is propelled forward by the commitment to R&D, fostering innovation, and ultimately providing better therapeutic solutions for patients worldwide.
Top Highlights by FMI’s Analysis:
- Omeprazole dominates the Proton Pump Inhibitors (PPIs) market, holding a significant market share of 28.5% in 2022. This leading position is driven by various factors, including its widespread availability, proven efficacy, and comparatively lower cost compared to other PPI drugs.
- The oral route of administration holds the leading position with a market share of 66.3% in 2022. Oral administration is the preferred method for delivering Proton Pump Inhibitors due to its convenience, ease of use, and high patient acceptance. It allows for effective systemic delivery of the medication, contributing to its dominant position in the market.
- Capsules are the leading dosage form with a market share of 39.2% in the global Proton Pump Inhibitors market in 2022. Capsules offer advantages such as easy swallowing, accurate dosing, and protection of the medication from degradation. They are preferred by healthcare professionals and patients for their convenience and effectiveness in delivering Proton Pump Inhibitors for treatment.
- Generics held a 74.3% market value share in 2022 in the global Proton Pump Inhibitors market based on prescription type. Generic Proton Pump Inhibitors have gained prominence due to their cost-effectiveness, comparable efficacy, and availability as alternatives to brand-name medications.
- North America leads the global market in terms of region accounting for 38.8% market share in 2022. This is attributed to factors such as the high prevalence of gastrointestinal disorders, well-established healthcare infrastructure, robust research and development activities, and strong market presence of key pharmaceutical companies.
Global Proton Pump Inhibitors Industry Competitive Landscape:
The market players active within this industry space are undertaking the launch of new products to continue maintaining their market share in the global market.
- In April 2022, Daewon Pharmaceutical launched Escorten, its inaugural proton-pump inhibitor (PPI) treatment, utilizing 10mg of esomeprazole magnesium trihydrate, effectively addressing gastric mucosal lesions in acute and chronic gastritis in Korea.
- On March 25, 2021, Xiromed LLC, a generic division of Insud Pharmaceuticals, launched Omeprazole delayed-release capsules, 20mg, as a cost-effective alternative to Prilosec®. CEO Narasimhan Mani expressed their commitment to expanding the product portfolio.
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Major Players are:
AstraZeneca, Bayer AG, Cadila Pharmaceuticals, Eisai Inc., GlaxoSmithKline PLC, Pfizer Inc., Takeda Pharmaceuticals, Sanofi SA, Perrigo Company PLC, Dr. Reddy’s Laboratories, Redhill Pharma Limited, Cipla Limited
What Does the Report Cover?
Future Market Insights offers a unique perspective and actionable insights on the Proton Pump Inhibitors market in its latest study, presenting a historical demand assessment of 2017 to 2022 and projections for 2023 to 2033. The global Proton Pump Inhibitors market is segmented in detail to cover every market aspect and present a complete market intelligence approach to the reader.
The research study is based on the Proton Pump Inhibitors market by drug type (omeprazole, pantoprazole, rabeprazole, dexlansoprazole, lansoprazole, esomeprazole, and others), by route of administration (oral, and injectable), by dosage form (tablet, capsules, injection, and others), by prescription type (branded, and generics), by indication (gastroesophageal reflux disease, heartburn, peptic ulcer, and others), by distribution channel (retail pharmacies, hospital pharmacies, drug stores, and specialty clinics), and across 7 regions of the world.
Global Proton Pump Inhibitors Industry Key Segmentation:
By Drug Type:
- Esomeprazole
- Omeprazole
- Dexlansoprazole
- Pantoprazole
- Rabeprazole
- Lansoprazole
- Others
By Route of Administration:
- Oral
- Injectable
By Dosage Form:
- Tablet
- Capsules
- Injection
- Others
By Prescription:
- Branded
- Generics
By Indication:
- Gastroesophageal Reflux Disease
- Heartburn
- Peptic ulcers
- Others
Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
- Specialty Clinics
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments based on Source, Application, Sales Channel, and End Use over the next 10 years.
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