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Proton pump inhibitors are defined as a group of medications that majorly deals with the reduction of stomach acid production. Stomach acid is a chemical contributor that helps in digestion but an excess release of this leads to inflaming, irritating the esophagus causing heartburns, ulcers in the stomach or initial part of the small intestine that is influencing the growth of the market. Additionally, it also helps in various other problems associated with stomach especially in cases like gastroesophageal reflux disease where stomach acid on regular bases escapes into the esophagus. These Proton pump inhibitors are often used when compared with H2 blockers. These drugs are available in the form of tablets and capsules which are orally consumed by the patient. Moreover, this also helps in the development of microscopic clinical condition called colitis which is also triggering the growth of the market. Furthermore, the proton pump is directly responsible for the secretion of H+ ions into the gastric lumen which is usually seen in gastric acid secretion by focusing on inhibiting acid secretion.
Key Market Driver -
Rise in prevalence of gastroesophageal reflux disease (GRED).
Key Market Restraint -
Increasing shift to OTC products
Rise in prevalence of gastrointestinal disorders, increase in geriatric population suffering with stomach disorders, rise in gastroesophageal reflux disease, increase in consumption of unhealthy diets, growing lifestyle associated with sedentary work culture, increased cases of obesity, and others are some of the major factors that are positively influencing the growth of the market during the forecast period. According to recent studies, it is estimated that prevalence of GRED is accounted to be 18.1%-27.8% in North America, in Europe it is estimated to be 8.8%–25.9%, East Asia it is anticipated to be 2.5%–7.8%, in the Middle East is anticipated 8.7%–33.1%, while 11.6% held in Australia, and 23.0% in South America. Furthermore, increased acceptance of novel drug delivery by manufacturers for expansion of the market is also triggering the growth of the market in the near future. Along with this, availability of over the counter medications of proton pump inhibitor which include omeprazole, esomeprazole, and others are also positively influencing the market growth during the forecast period. Moreover, dexlansoprazole modified release that helps in more accurate treatment of symptoms related to GERD is emerging as the potential opportunity for the growth of the market during the forecast period.
However, patent expiry of blockbuster products and an increased use of generic drugs and OTC products as for the treatment of gastric ulcers and disorders are hampering the global proton pump inhibitors market growth.
Globally, the proton pump inhibitors market is segmented on basis of drug type, distribution channel, and region. Based on the drug type, the market is segmented into omeprazole, esomeprazole, Rabeprazole, Dexlansoprazole, and others. Based on the distribution channel, the market is segmented into hospitals pharmacies, online pharmacies, retail pharmacies, and others.
Geographically, the Proton Pump Inhibitors market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
The major companies in the global the proton pump inhibitors market are AstraZeneca, Bayer AG, Cadila Pharmaceuticals., Teva Pharmaceutical Industries Ltd., Pfizer Inc., Eli Lilly and Company, and others.
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Geographically, the Proton Pump Inhibitors market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is dominating the market owing to rise in GERD. Europe is the second-largest contributor to the market owing to an increase in health awareness, increased capita income expenditure, increased healthcare infrastructure. Asia Pacific is anticipated to experience vast growth in the market owing to rise in geriatric population, an increase in healthcare awareness, and an increase in government initiatives towards the healthcare sector. Latin America and Middle East are also anticipated to experience lucrative growth in the market.
By Drug Type
By Distribution Channel
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