Proton pump inhibitors (PPIs) are a group of medicines that work by reducing the amount of acid produced in the stomach. These medicines are widely used to treat acid reflux, ulcers, and other gastrointestinal problems. PPIs work by irreversibly blocking the hydrogen-potassium adenosine triphosphatase enzyme system (the proton pump) of gastric parietal cells. Common PPI medicines include omeprazole, esomeprazole, lansoprazole, rabeprazole and pantoprazole.
The global Proton Pump Inhibitors Market is estimated to be valued at US$ 3.8 Mn or Bn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The Proton Pump Inhibitors Market is expected to witness high growth owing to the increase in gastrointestinal problems such as stomach ulcers, acid reflux and heartburn across the globe. As per the statistics, peptic ulcer disease affects approximately 10% of the global population per year. Rise in the risk factors that cause gastrointestinal problems such as smoking, excess alcohol consumption and use of anti-inflammatory drugs are driving the growth of the proton pump inhibitors market. Additionally, advancements in drug delivery systems of PPIs and increase in prevalence of obesity globally have also contributed to the growth of the market. Further, expanding therapeutic applications of PPIs in treatment of infections caused by H. pylori are expected to present lucrative growth opportunities for market players in the near future.
SWOT Analysis
Strength: Proton pump inhibitors have gained wide acceptance for use in treating acid-related gastrointestinal disorders owing to their effectiveness. PPIs are considered the standard of care for treating conditions like gastroesophageal reflux disease, peptic ulcer disease, and Helicobacter pylori infection. Clinical trials have demonstrated their safety and efficacy in long-term use.
Weakness: Long-term PPI use has been linked to certain risks and side effects. Overuse of these medications can deplete vitamin and mineral levels. Their usage has also been associated with increased fracture risk and C. difficile infection in some patient groups. Some patients also experience side effects like diarrhea and headaches.
Opportunity: The rise in gastroesophageal reflux disease, stomach ulcers, and stress levels globally points to growing disease burden. This increasing prevalence of acid-related gastrointestinal disorders presents an opportunity for PPI manufacturers to introduce novel formulations, combination therapies and delivery mechanisms to better treat patient needs. Emerging markets also offer scope for business expansion.
Threats: Patent expiries of branded PPI drugs have led to higher generic competition which threatens revenue streams. Stringent regulations governing clinical trials and drug approvals also impact the launch of new products. Drug price control policies enacted in certain countries can compress margins.
Key Takeaways
The Global Proton Pump Inhibitors Market Share is expected to witness high growth over the forecast period. The global Proton Pump Inhibitors Market is estimated to be valued at US$ 3.8 Mn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2024 to 2031.
Regional analysis shows that North America currently dominates led by the US owing to a high disease prevalence and swift uptake of new drug approvals. However, Asia Pacific is emerging as a faster growing region due to rising healthcare expenditures, growing patient populations and increasing focus of international players on emerging markets in the region.
The 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 holds the leading position by revenue share in the global PPI market through its proprietary brands like Takepen and Losec while Synageva focuses on rare disease therapies in North America. Medison Pharma has a strong presence across key Asian markets.
For more insights, Read- https://www.rapidwebwire.com/proton-pump-inhibitors-market-growth-market-size-share-analysis/
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