|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
Need a report that reflects how COVID-19 has impacted this market and its growth?
The proton pump inhibitors market is poised to grow at a CAGR of 4.5% during the forecast period, 2022-2027.
Many researchers have found that proton pump inhibitors have increased the risk of COVID-19 in patients taking these medications. The article titled "Increased Risk of COVID-19 Among Users of Proton Pump Inhibitors" published in August 2020, reported that more than 53,000 people taking proton pump inhibitors participated, out of which 3,386 said that they had tested positive for COVID-19. This factor is expected to affect the market growth as patients undergoing proton-pump inhibitor therapy are advised to consume fewer medications and avoid these medications unless it is an emergency. Thus, COVID-19 has a significant impact on the growth of the studied market.
Proton pump inhibitors are the gold standard medication for gastroesophageal reflux disease (GERD), and the increasing prevalence of GERD and the rising acceptance of novel drug delivery systems are the two most prominent factors driving the growth of the market.
Additionally, the risk factors such as aging, obesity, delayed stomach emptying, changing lifestyles associated with smoking, and consumption of alcohol, coffee, fatty, and fried foods are the major reasons for the occurrence of GERD. Furthermore, the United Nations Report titled "World Population Ageing Report, 2020 Highlights, there were 727 million people aged 65 years or over in the global population, and this number is positioned to double to 1.5 billion in 2050.
Furthermore, players in this market are developing novel products and coming up with new product launches to leverage market opportunities. For instance, in March 2021, Xiromed LLC, the New Jersey-based generic division of Insud Pharmaceuticals, launched Omeprazole Delayed-Release Capsules, 20mg, generic for Prilose. Such a launch of drugs is propelling the growth of the market.
Thus, the increasing prevalence of GERD, along with the growing risk factor population, is likely to increase the demand for proton pump inhibitors, which is expected to drive the market. Also, the increasing shift from prescription to OTC drugs is driving the proton pump inhibitor market. However, the increasing use of generic products in the market and the side effects associated with the drugs may hamper the market growth.
Scope of the Report
As per the scope of the report, proton pump inhibitors (PPIs) are a group of drugs whose main action is the long-lasting reduction of gastric acid production. They are the most potent inhibitors of acid secretion available. The proton pump inhibitors market is segmented by drug type (OTC Drugs (omeprazole, lansoprazole, esomeprazole, and other OTC drugs) and prescription drugs (rabeprazole, dexlansoprazole, pantoprazole, and other prescription drugs) and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions. The report offers the market sizes and forecasts in value (USD million) for the above segments.
|By Drug Type|
Key Market Trends
The Esomeprazole Segment is Expected to Account for a Significant Share Over the Forecast Period
Esomeprazole is expected to have a significant share of the revenue as it is mostly indicated to treat the symptoms of GERD, heartburn, and other disorders involving excessive stomach acids. The shift from being a prescription-only drug to being sold as an over-the-counter (OTC) drug is likely to be a major driving force for the sales of the drug shortly.
In addition, major market players are focused on research and development and market expansion activities to bring new and reliable formulations to the market. For instance, in July 2020, Cadila Pharmaceuticals launched esomeprazole tablets for the treatment of hyperacidity and drug-induced gastritis under the brand name Esiloc in India.
Additionally, the strategic initiatives taken by the market players are propelling the growth of the segment. For instance, in March 2021, Daiichi Sankyo Co., Ltd. transferred the marketing and distribution rights for the proton pump inhibitor Nexium capsules 10 mg and 20 mg and Nexium granules for suspension 10 mg and 20 mg (esomeprazole magnesium) to AstraZeneca in Japan.
Thus, owing to all the above-mentioned factors, the Esomeprazole segment is expected to achieve high growth rates.
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North America is Expected to Account for the Large Share of the Market
North America currently dominates the proton pump inhibitors market and is anticipated to show a similar trend over the forecast period without significant fluctuations. There is a rising burden of GERD in the United States, Canada, and Mexico due to people’s shift toward unhealthy lifestyles. As per the National Institute of Diabetes and Digestive and Kidney Diseases Statistics of 2020, about 20% of people in the United States have GERD.
In the United States, proton pump inhibitors are one of the most widely prescribed drugs, and increased PPI use has been observed in United States ambulatory settings for the last few years. Furthermore, many firms are spending heavily on promoting their brands. The widespread use of PPIs has also gained the attention of the American Board of Internal Medicine; as a result, the board conducted a campaign to promote the appropriate use of PPIs.
Moreover, product launches in generic categories are also expected to impact the market. For instance, in February 2021, Dr. Reddy’s Laboratories Ltd. launched lansoprazole DR, orally disintegrating tablets, a therapeutic equivalent generic version of Prevacid soluTab delayed-release orally disintegrating tablets, 15 mg and 30 mg, approved by the United States Food and Drug Administration (USFDA). Such generic drug launches are also propelling the growth of the market.
Thus, owing to the abovementioned factors, the proton pump inhibitor market in the North American region is expected to project growth over the forecast period.
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The proton pump inhibitors market is moderately competitive, owing to the presence of various players in the market. The market players are focusing on acquiring market shares by focusing on aggressive advertisements and awareness programs among patients. The major key players in the market include AstraZeneca, Bayer AG, Cadila Pharmaceuticals, GlaxoSmithKline PLC, Johnson & Johnson, and Pfizer, among others.
- In April 2022, Daewon Pharmaceutical launched Escorten, one of the first proton-pump inhibitor drugs in Korea. It is an esomeprazole magnesium trihydrate available in 10mg.
- In January 2022, TWI Pharmaceuticals USA launched the generic formulation of Dexilant in the United States. It is a dexlansoprazole used to treat heartburn caused by GERD (Gastroesophageal Reflux Disease) and to heal erosive esophagitis. It is available as dexlansoprazole delayed release 30mg and 60mg capsules.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Burden of Gastroesophageal Reflux Disease (GERD)
4.2.2 Rising Acceptance of Novel Drug Delivery Systems
4.3 Market Restraints
4.3.1 Increasing Use of Generic Products
4.3.2 Side Effects Related to Proton Pump Inhibitors
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Drug Type
5.1.1 OTC (Over-the-counter) Drugs
188.8.131.52 Other OTC Drugs
5.1.2 Prescription Drugs
184.108.40.206 Other Prescription Drugs
5.2.1 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
126.96.36.199 South Korea
188.8.131.52 Rest of Asia-Pacific
5.2.4 Middle East and Africa
184.108.40.206 South Africa
220.127.116.11 Rest of Middle East and Africa
5.2.5 South America
18.104.22.168 Rest of South America
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Company Profiles
6.1.2 Bayer AG
6.1.3 Cadila Pharmaceuticals
6.1.4 Eli Lilly and Company
6.1.5 Eisai Inc.
6.1.6 GlaxoSmithKline PLC
6.1.7 Johnson & Johnson
6.1.8 Pfizer Inc.
6.1.9 Santarus Inc.
6.1.10 Takeda Pharmaceuticals
6.1.11 Eisai Pharmaceuticals India Pvt. Ltd
6.1.12 Wyeth LLC
6.1.13 Sanofi SA
6.1.14 Perrigo Company PLC
6.1.15 Dr. Reddy's Laboratories
6.1.16 Aralez Pharmaceuticals Inc.
6.1.17 Redhill Pharma Limited
6.1.18 Cipla Limited
6.1.19 Changzhou Siyao Pharmaceuticals
6.1.20 Yangzhou Pharmaceutical
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Global Proton Pump Inhibitors Market market is studied from 2019 - 2027.
What is the growth rate of Global Proton Pump Inhibitors Market?
The Global Proton Pump Inhibitors Market is growing at a CAGR of 4.5% over the next 5 years.
Which region has highest growth rate in Global Proton Pump Inhibitors Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Proton Pump Inhibitors Market?
North America holds highest share in 2021.
Who are the key players in Global Proton Pump Inhibitors Market?
Bayer AG, Pfizer Inc., Takeda Pharmaceuticals, Cadila Pharmaceuticals, AstraZeneca are the major companies operating in Global Proton Pump Inhibitors Market.