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Proton Pump Inhibitors Market Research Report: Information By Drug Type (Esomeprazole, Omeprazole, Dexlansoprazole, Pantoprazole, and Others), By Route of Administration (Oral, Injectable), By Indication (Gastroesophageal Reflux Disease, Heartburn, Peptic Ulcers, Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Drug Stores, and Special Clinics) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032
The Proton Pump Inhibitors market industry is projected to grow from USD 3.27 Billion in 2023 to USD 16.8 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.50% during the forecast period (2023 – 2032).
The Proton Pump Inhibitors (PPIs) market continues to be a significant segment within the pharmaceutical industry, catering to a wide array of gastrointestinal disorders. PPIs, known for their efficacy in treating conditions like gastroesophageal reflux disease (GERD), peptic ulcers, and Helicobacter pylori infections, maintain a prominent presence in healthcare markets worldwide.
Key factors influencing the PPIs market include rising incidences of GERD and other related disorders, driven by lifestyle changes, dietary habits, and an aging population. Additionally, increasing awareness about the benefits of early diagnosis and treatment of gastrointestinal ailments has contributed to the growing demand for PPI medications.
The market landscape for PPIs is characterized by the presence of several established pharmaceutical companies, including AstraZeneca, Takeda Pharmaceutical Company, and Pfizer Inc., among others. These companies invest significantly in research and development to introduce innovative formulations, improve efficacy, and enhance patient compliance.
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Market Segmentation
The global Proton Pump Inhibitor market has been segmented based on drug type, route of administration, indication, and distribution channels
based on Drug Type including Esomeprazole, Omeprazole, Dexlansoprazole, Pantoprazole, and Others. The omeprazole segment was expected to hold the largest market share in 2022. This is connected to Its popularity and widespread use among patients and healthcare professionals can be attributed to its effectiveness. Omeprazole is widely available over-the-counter (OTC), which enables people to self-medicate for mild symptoms, which is driving the market’s growth.
Based on the Route of Administration includes Oral and injectable. The oral segment was anticipated to hold the major market share in 2022. The fact that oral PPIs enter the bloodstream and function systemically throughout the body is one of their advantages. Effectively reducing stomach acid production, easing esophageal inflammation, and promoting tissue repair are the benefits of oral GERD medications.
Based on Indication includes Gastroesophageal Reflux Disease, Heartburn, Peptic Ulcers, and Others. The gastroesophageal reflux disease segment was expected to hold the biggest market share in 2022. The demand for proton pump inhibitors (PPIs) is mostly being driven by the global increase in GERD cases. GERD is a common medical condition that affects a significant portion of the population.
Based on distribution channels include Hospital Pharmacies, Retail Pharmacies, Drug Stores, and Others. The hospital pharmacies segment was anticipated to hold the major market share in 2022 because of their close ties to healthcare facilities, hospital pharmacies gain from having a captive patient base and collaborating closely with healthcare providers.
Competitive Landscape
AstraZeneca, Bayer AG, Cadila Pharmaceuticals, Eisai Inc., GlaxoSmithKline PLC, Pfizer Inc., Takeda Pharmaceuticals, Sanofi SA, Dr. Reddy’s Laboratories, Redhill Pharma Limited, Cipla Limited, Evanger’s, and Kirkland Signature.
Regional Analysis
The global Proton Pump Inhibitor market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Proton Pump Inhibitor market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Proton Pump Inhibitor market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Proton Pump Inhibitor market comprises of Middle East, Africa, and Latin America.
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The largest market share for Proton Pump Inhibitor was maintained by the North American regional sector. The US, Canada, and Mexico are seeing a rise in the prevalence of GERD due to a rise in unhealthy lifestyle choices. 10% to 20% of Americans, or roughly 40% of the population, experience weekly GERD symptoms, according to a March 2022 article published in the journal of annals of esophagus.
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Moreover, the second-largest market share in Europe is accounted for by proton pump inhibitors, as major players are focusing more on obtaining approvals and releasing products. For example, the FDA approved the novel omeprazole oral disintegrating tablet, omeprazole OD, in April 2018 thanks to MelTech’s melt-in-your-mouth technology, which dissolves the tablet without requiring water in the mouth. The tablet was introduced by Perrigo Company plc and its partner, Dexcel Pharma Technologies, Ltd. Heartburn is treated with omeprazole OD, an over-the-counter medication.
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