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The Proton Pump Inhibitors Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Proton Pump Inhibitors Global Market Report 2024, The proton pump inhibitors market size has grown steadily in recent years. It will grow from $3.3 billion in 2023 to $3.44 billion in 2024 at a compound annual growth rate (CAGR) of 4.5%. The growth in the historic period can be attributed to prevalence of gastroesophageal reflux disease (gerd), peptic ulcer disease incidence, rising aging population, changing lifestyles and dietary habits, increasing awareness and diagnosis.
The proton pump inhibitors market size is expected to see steady growth in the next few years. It will grow to $4.12 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. The growth in the forecast period can be attributed to emerging markets adoption, growth in helicobacter pylori infections, patient education initiatives, strategic marketing and promotions. Major trends in the forecast period include integration with digital health solutions, global market expansion, focus on gastrointestinal health education, regulatory updates and safety measures, environmental impact considerations.
The increasing prevalence of gastrointestinal disorders is expected to drive the growth of the proton pump inhibitors market. Gastrointestinal disorders refer to a collective term of diseases such as nausea, vomiting, food poisoning, and diarrhea that impact the overall biological functioning of the gastrointestinal (GI) tract. Proton pump inhibitors (PPIs) are commonly prescribed as a medication for treating heartburn and acid-related disorders. PPIs reduce the amount of stomach acid made by glands in the stomach lining. The increasing prevalence of gastrointestinal disorders contributes to proton pump inhibitors’ growth. For instance, in September 2022, according to Cancer Australia, an Australia-based cancer control group to support cancer patients and raise awareness of the illness, Australia is predicted to see 2,572 new cases of stomach cancer in 2022 (1,661 male cases and 911 female cases). Similarly, in September 2022, according to a survey by the American Gastroenterological Association, a US-based medical association for gastroenterologists with more than 16,000 doctors and scientists as members, due to severe gastrointestinal symptoms, over 40% of Americans have stopped engaging in daily activities in the last year, such as working exercise (19%), finishing tasks (17%), and socializing with friends and family (16%). Therefore, the increasing prevalence of gastrointestinal disorders is expected to propel the growth of the proton pump inhibitors market.
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The proton pump inhibitors market covered in this report is segmented –
1) By Type: Pantoprazole, Omeprazole, Lansoprazole, Esomeprazole, Rabeprazole, Dexlansoprazole, Other Types
2) By Disease Allocation: Ulcers, Gastroesophageal Reflux Disease, Other Disease Indications
3) By Application: Hospitals, Clinic, Other Applications
Product innovation is a key trend gaining popularity in the proton pump inhibitors market. Major companies operating in the proton pump inhibitors market are focused on developing innovative products to strengthen their position and gain a competitive advantage. For instance, in March 2021, Xiromed LLC, a US-based generic division of Insud Pharmaceuticals, launched Omeprazole Delayed-Release Capsules, 20mg, a generic version of Prilosec, used to treat symptoms of gastroesophageal reflux disease (GERD) and other conditions caused by excess stomach acid. Omeprazole is a proton pump inhibitor used to treat gastric acid-related disorders such as gastroesophageal reflux disease (GERD), peptic ulcer disease, and other diseases characterized by the over secretion of gastric acid.
The proton pump inhibitors market report table of contents includes:
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