The global proton pump inhibitors market is poised for impressive growth, according to the latest research from Future Market Insights. Valued at approximately USD 3.0 billion in 2023, the market is projected to expand at a compound annual growth rate (CAGR) of 5.2%, reaching USD 4.9 billion by 2033.
Omeprazole, a key drug in this category, currently dominates the market with a significant share of approximately 28.5% in 2022. This robust market presence highlights the increasing reliance on PPIs for managing conditions such as gastroesophageal reflux disease (GERD), a disorder that has seen a surge in diagnoses globally.
The market for Proton Pump Inhibitors (PPIs) is being driven by the increasing prevalence of gastrointestinal disorders. Conditions such as gastroesophageal reflux disease (GERD), peptic ulcers, and Helicobacter pylori infections are becoming more common worldwide. PPIs are widely prescribed to manage and treat these disorders effectively. As the number of individuals affected by gastrointestinal issues continues to rise, the demand for PPIs as a primary treatment option is also increasing. This trend underscores the importance of PPIs in addressing the growing burden of gastrointestinal disorders and highlights the significant role they play in improving patient outcomes and quality of life.
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.
Key Takeaways from Market Study:
- Omeprazole dominates the proton pump inhibitors (PPIs) market, holding a significant market share of 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 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 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 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 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.
“The demand for photon pump inhibitors is increasing due to the growing prevalence of gastroesophageal reflux disease (GERD) and the need for effective treatment options..” says an analyst of Future Market Insights.
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Market Competition
The market players active within this industry space are undertaking launch of new product to continue maintaining their market share in the global market.
- On 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.
Key Companies Covered:
- 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
Key Segments Covered in Photon Pump Inhibitors Industry Research:
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
- Speciality Clinics
Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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