Proton Pump Inhibitors Market
Number of pages: 100 | Report Format: PDF | Published date: 14 March, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
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Market size value in 2022 |
US$ 3.5 billion |
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Revenue forecast in 2031 |
US$ 5.64 billion |
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Growth Rate |
CAGR of 4.2% from 2023 to 2031 |
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Base year for estimation |
2022 |
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Forecast Period |
2023-2031 |
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Historical Year |
2021 |
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Segments covered |
Drug Type, Application, and Region. |
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Regional scope |
North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
According to the deep-dive market assessment study by Growth Plus Reports, the global proton pump inhibitors market was valued at US$ 3.5 billion in 2022 and is expected to register a revenue CAGR of 4.2% to reach US$ 5.64 billion by 2031.
Market Fundamentals
Proton pump inhibitors (PPI) is a family of drug which focuses primarily on reducing the production of stomach acid. Stomach acid is a chemical that aids in digestion, but when it is released in excess, it can cause heartburn, ulcers in the stomach, or the first section of the small intestine, which have a negative impact on the health. Proton pump inhibitors also aid in a variety of other stomach issues, particularly in conditions like gastroesophageal reflux disease (GERD), where stomach acid frequently leaks into the esophagus. These proton pump inhibitors are used more commonly than H2 blockers. These proton pump inhibitors are offered in pills and capsules that the patient takes orally. Furthermore, contributing to the expansion of the market is the emergence of the microscopic clinical ailment known as colitis. Furthermore, by concentrating on suppressing acid secretion, the proton pump is directly accountable for the discharge of H+ ions into the stomach lumen that is typically seen in gastric acid secretion. Some common PPIs include omeprazole (Prilosec), esomeprazole (Nexium), lansoprazole (Prevacid), pantoprazole (Protonix), and rabeprazole (Aciphex). These drugs are available both by prescription and over the counter.
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Market Dynamics
The gold standard treatment for gastroesophageal reflux disease (GERD) is proton pump inhibitors. The two main factors driving the growth of proton pump inhibitors market are the rising prevalence of GERD and the expanding acceptability of innovative medication delivery technologies. Moreover, GERD is primarily brought on by risk factors like ageing, obesity, delayed stomach emptying, changing smoking-related habits, and intake of alcohol, coffee, fatty, and fried meals. Also, according to information released by the WHO in October 2022, it is predicted that by 2030, 1 in 6 of the world's population would be 60 years of age or older, and that number will double to 2.1 by 2050. Proton pump inhibitor use is projected to rise with the growing elderly population because ageing is a significant risk factor for GERD. As a result, it is predicted that this aspect will boost the global proton pump inhibitors market growth.
To take advantage of market opportunities, key market players in the global proton pump inhibitors market are also creating unique products and planning new product releases. For instance, the generic version of Prilose, Omeprazole Delayed-Release Capsules, 20mg, was introduced in March 2021 by Xiromed LLC, the generic subsidiary of Insud Pharmaceuticals in New Jersey. Such medicine launches are accelerating the growth of the global proton pump inhibitors market.
The global market for proton pump inhibitors is growing as a result of the growing movement from prescription to over-the-counter medications.
However, despite their efficacy, the global proton pump inhibitors market faces several restraints. Long-term use of proton pump inhibitors has been associated with several safety concerns, including increased risk of kidney disease, osteoporotic fractures, pneumonia, and Clostridium difficile infection. As a result, many patients and healthcare providers are becoming increasingly cautious about using proton pump inhibitors, which could limit their use and ultimately affect the proton pump inhibitors market. There are alternative treatments available for acid-related disorders, such as H2 receptor antagonists and antacids. In some cases, lifestyle modifications, such as dietary changes and weight loss, may also be effective.
The global proton pump inhibitors market has been analyzed from three perspectives: Drug Type, Application, and Region.
Proton Pump Inhibitors Market by Drug Type
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Based on drug type, the global proton pump inhibitors market has been segmented into omeprazole, esomeprazol, pantoprazole, rabeprazole, dexlansoprazole, and others.
Esomeprazole accounts for the largest revenue share in the global proton pump inhibitors market. Since it's mostly used to treat the signs and symptoms of GERD, heartburn, and other conditions that involve too much stomach acid. Soon, the drug's sales are probably going to be heavily influenced by the change from being a prescription-only drug to being offered over the counter (OTC). Major market competitors are also concentrating on R&D and market expansion initiatives to introduce fresh and dependable formulations to the market. As an illustration, the CDSCO's Subject Matter Expert Committee (SEC) recommended in August 2021 that Sun Pharma conduct a phase 3 clinical trial comparing esomeprazole dual-release gastro-resistant tablets 80mg to esomeprazole gastro-resistant tablets 40mg bids for the proposed indication. Also, the market participants' strategic moves are accelerating the growth of this segment. For instance, in March 2021 Daiichi Sankyo Co., Ltd. gave AstraZeneca in Japan the marketing and distribution rights for the proton pump inhibitor Nexium 10 mg and 20 mg capsules and Nexium 10 mg and 20 mg granules for suspension (esomeprazole magnesium).
Proton Pump Inhibitors Market by Distribution Channel
Based on distribution channel, the global proton pump inhibitors market has been segmented into hospital pharmacies, retail pharmacies and others.
The hospital pharmacy segment accounts for the largest revenue share in the global proton pump inhibitors. This is because PPIs are prescribed to hospitalized patients who require treatment for conditions such as peptic ulcers or esophagitis. In these cases, hospital pharmacies have a direct relationship with the healthcare providers responsible for patient care, and they are typically the ones who purchase and distribute the medications. Secondly, hospital pharmacies tend to have better bargaining power when negotiating prices with drug manufacturers compared to retail pharmacies. This is because hospitals typically purchase medications in larger quantities, which allows them to negotiate better prices and discounts.
Additionally, hospital pharmacies often have more resources available to manage the storage and distribution of medications, which is particularly important for proton pump inhibitors as they require special storage conditions and have a relatively short shelf life. This makes it easier for hospitals to manage their PPI inventory and reduce waste due to expired medications. Overall, due to the high demand for PPIs in hospital settings and the advantages that hospital pharmacies have in terms of purchasing power and resources, they currently dominate the market for these medications.
Proton Pump Inhibitors Market by Region
Based on region, the global proton pump inhibitors market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America currently accounts for the largest revenue share in the proton pump inhibitors market. Due to a rise in unhealthy lifestyles, GERD is becoming more prevalent in the United States, Canada, and Mexico. According to a March 2022 article in the journal of annals of esophagus, 10% to 20% of people in the United States are affected on a weekly basis and 40% of the population is thought to experience GERD symptoms. Proton pump inhibitors are one of the most prescribed medications in the US, and during the past few years, ambulatory settings throughout the country have seen an upsurge in PPI use. Also, a lot of businesses are investing extensively on brand promotion. The American Board of Internal Medicine was alerted to the widespread use of PPIs, and as a result, the board launched a campaign to encourage their proper use. Moreover, the market is anticipated to be impacted by product debuts in generic categories. For example, Dr. Reddy's Laboratories Ltd. introduced lansoprazole DR, orally disintegrating tablets, in February 2021. This product is a therapeutically equivalent generic version of Prevacid soluTab delayed release orally disintegrating tablets, 15 mg and 30 mg, approved by the US Food and Drug Administration (USFDA). The market is growing as a result of such generic medicine introductions.
The proton pump inhibitors market in Asia Pacific is expected to experience significant growth in the coming years due to factors such as increasing incidence of gastroesophageal reflux disease (GERD) and peptic ulcers, rising awareness about the availability of PPIs as an effective treatment option, and growing healthcare expenditure in the region. In addition, the availability of generic PPIs is also contributing to the growth of the market as they are more affordable than branded PPIs. This has increased the accessibility of PPIs to a larger patient population, particularly in low- and middle-income countries. Overall, the Asia Pacific PPIs market is expected to grow in the coming years due to the increasing incidence of GERD and peptic ulcers, growing awareness about the availability of PPIs, and the availability of generic PPIs at a lower cost.
The proton pump inhibitors market in Latin America is experiencing steady growth. Brazil and Mexico are identified as the largest markets for PPIs in the region, due to their large populations and high prevalence of gastroesophageal reflux disease (GERD) and other related conditions. However, other countries in the region, such as Argentina, Chile, and Colombia, were also expected to experience growth in the PPI market, driven by factors such as increasing awareness of GERD and other digestive disorders, rising healthcare expenditure, and expanding access to healthcare services.
Some of the key players in the Latin American PPI market included AstraZeneca, Pfizer, Takeda Pharmaceutical Company, and Eisai Co. Ltd. These companies were investing in research and development activities to develop more effective and innovative PPIs and other related products, which were expected to drive market growth over the coming years.
Competitive Landscape
Some of the prominent players operating in the global proton pump inhibitors market are: -
Strategic Developments
The global proton pump inhibitors market is expected to grow at a revenue CAGR of 4.2% in the forecast period.
Takeda Pharmaceuticals, Cadila Pharmaceuticals, Eli Lilly & Company, Pfizer Inc., and Teva Pharmaceuticals are a few key players in the global proton pump inhibitors market.
The hospital pharmacies segment holds the largest revenue share in the global proton pump inhibitors market.
The increasing shift from prescription to OTC drugs is driving the growth of the proton pump inhibitor market is one of the few of the driving factors of the global proton pump inhibitors market.
The global proton pump inhibitors market was valued at US$ 5.64 billion in 2023.
*Insights on financial performance are subject to the availability of information in the public domain
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Snehal Deshmukh
Principle Consultant
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