The global 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.
Proton pump inhibitors are a type of medication which reduce the amount of acid produced in the stomach. They are commonly used for conditions like acid reflux, ulcers and heartburn. Proton pump inhibitors work by blocking the action of acid-producing cells in the stomach lining. This allows ulcers to heal and reduces the symptoms of acid reflux.
Market key trends:
The rise in prevalence of acid reflux and ulcers has been a major driver of growth for the proton pump inhibitors market. According to studies, over 15 million Americans experience acid reflux on a weekly basis. Increase in obesity and poor lifestyle habits have contributed to the increasing incidence of acid reflux. Additionally, increasingly sedentary lifestyle and consumption of fatty, spicy foods trigger acid reflux symptoms in many individuals. New product launches by key players with formulations enabling once-a-day dosing have further boosted the adoption of proton pump inhibitors for management of acid reflux and ulcers..
The global proton pump inhibitors market is dominated by the omeprazole sub-segment owing to its significant popularity as an effective treatment option for acid reflux and heartburn. Some key advantages of omeprazole over other PPIs include better tolerability, efficacy, being less expensive, and availability of cheaper generic versions.
The global Proton Pump Inhibitors Market is expected to witness high growth, exhibiting CAGR of 4.3% over the forecast period, due to increasing prevalence of acid reflux diseases.
North America currently dominates the global proton pump inhibitors market due to high awareness levels about acid reflux diseases and rising obese population. Europe is also a major market exhibiting significant growth.
Key players operating in the proton pump inhibitors market are AstraZeneca PLC/AB, 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 (ADR) and Cipla Limited.