April 14, 2024
Proton Pump Inhibitors Market

The Proton Pump Inhibitors Market Is Trending By Population Health Awareness

The proton pump inhibitors market product finds wide applications in the treatment of acid reflux, ulcers, and hyperacidity disorders. Proton pump inhibitors primarily reduce the amount of acid produced in the stomach to provide symptomatic relief from conditions involving stomach acid overproduction. These drugs are available in various forms including capsules, tablets, and injectable medications. The global proton pump inhibitors market is driven by the growing prevalence of acid related gastrointestinal disorders and increasing uptake of over-the-counter medications to self-treat minor acidity ailments.

The Global Proton Pump Inhibitors Market is estimated to be valued at US$ 3.8 Mn in 2024 and is expected to exhibit a CAGR of 6.7% over the forecast period from 2024 to 2031.

Key Takeaways

Key players operating in the Proton Pump Inhibitors Market Demand 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. The major players are focusing on developing generic versions to cater to the growing demand and capture major market share.

The increasing prevalence of lifestyle diseases such as obesity and rising geriatric population are driving the demand for proton pump inhibitors globally. As per official reports, more than 35% of the global population suffers from obesity which increases the risk of acid reflux disease requiring long-term PPI treatment.

Key players are expanding their global footprint with focus on developing nations using new business models. Several partnerships have been initiated for generic drug development and supply with local players in Asian and Latin American countries. This is expected to strengthen the distribution network and cater to the growing demands effectively.

Market Key Trends

One of the key trends gaining traction in the proton pump inhibitors market is the shift towards generic drugs over branded formulations. Patent expiries of major blockbuster PPI drugs in recent years have led to a sharp rise in generics availability. As per estimates, nearly 50% of the oral PPI market comprises generic drugs. The significantly lower price of generics has boosted their adoption significantly. This will continue aiding the overall market revenue growth over the forecast period.

Porter’s Analysis

Threat of new entrants: High capital requirements for product development and clinical trials means the threat is low.

Bargaining power of buyers: Presence of many established brands reduces buyer power to some extent.

Bargaining power of suppliers: Suppliers of active ingredients have some power as manufacturers rely on them.

Threat of new substitutes: Substitutes exist but PPIs remain the frontline treatment for acid-related disorders.

Competitive rivalry: Intense due too many competitors offering PPIs.

Geographical regions with highest value concentration for Proton Pump Inhibitors Market: North America accounts for the largest share mainly due to high acid-related disease prevalence and easy availability of PPI products.

Fastest growing region for Proton Pump Inhibitors Market: Asia Pacific region is expected to witness the highest CAGR during the forecast period attributed to rising healthcare expenditure, a huge patient pool and growing awareness about PPI usage.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it.