Market Overview:
Proton pump inhibitors are a class of medications used to reduce gastric acid production in the treatment of gastric and duodenal ulcers, gastroesophageal reflux disease, and other conditions. They provide effective relief from heartburn and acid reflux by blocking the action of gastric acid pumps in the stomach wall.
The proton pump inhibitors market is estimated to be valued at US$ 3.29 Bn in 2023 and is expected to exhibit a CAGR of 4.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the proton pump inhibitors market is the increasing preference for over-the-counter (OTC) drugs over prescription drugs. Proton pump inhibitors like omeprazole, pantoprazole, and lansoprazole are now available without a prescription in most countries, allowing customers to choose OTC options for occasional acidity or heartburn relief instead of relying solely on prescription drugs. This has boosted the growth of the market by improving accessibility of these drugs.
Segment Analysis
The global Proton Pump Inhibitors market is dominated by the omeprazole sub-segment. Omeprazole accounts for over 30% of the global market share owing to its high efficacy in treating conditions like acid reflux and peptic ulcers. It is prescribed widely for conditions requiring long-term treatment with PPIs.
Key Takeaways
The Global Proton Pump Inhibitors Market Size is expected to witness high growth, exhibiting CAGR of 4.3% over the forecast period, due to increasing prevalence of acid reflux diseases and peptic ulcers.
Regional analysis
North America accounts for the largest share in the global PPI market owing to high awareness regarding acid reflux diseases and availability of advanced healthcare facilities. Asia Pacific is expected to grow at the fastest pace during the forecast period due to increase in healthcare expenditure and growth in the medical tourism industry in the region.
Key players
Key players operating in the Proton Pump Inhibitors market are AstraZeneca PLC, Bayer AG, Pfizer Inc., Cadila Pharmaceuticals Limited, Eisai Pharmaceuticals India Pvt. Ltd, Santarus, Inc., Wyeth, LLC, Janssen Pharmaceutica, Takeda Pharmaceutical Company Limited, Sanofi S.A, Aurobindo Pharma, Perrigo Company plc, Dr. Reddy's Laboratories, Aralez Pharmaceuticals Inc., RedHill Biopharma Ltd and Cipla Limited.
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