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The proton pump inhibitors (PPIs) market size is estimated to grow by USD 807.89 million at a CAGR of 4.86% between 2023 and 2028.
The rational use of medicine is vital in ensuring the appropriate use of medical resources, providing desired therapeutic outcomes, and minimizing the risk of adverse drug reactions. However, in general practice, a few of the most irrational uses of drugs include excessive prescription of PPIs, antibiotics, and glucocorticoids. Since the launch of the first PPI, namely omeprazole, in the 1980s, PPIs have been regarded as the potential therapeutic options for the treatment of acid-related problems, including gastroesophageal reflux disease, H. pylori eradication therapy, peptic ulcers, stress ulcer, and dyspepsia. The study concluded that there was a very high frequency of PPI prescriptions in inpatient and OPD visits. A few factors that are responsible for the heavy use of PPIs include the high incidence of acid-related diseases, high efficacy and low toxicity of PPIs, increased affordability and accessibility of generic PPIs, their availability as OTC drugs, and consumer-oriented advertising of these drugs. These factors are anticipated to drive the proton pump inhibitors (PPIs) market growth during the forecast period.
Technavio has segmented the market into Product, Route Of Administration, and Geography
It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historical data from 2018-2022, besides analyzing the current market scenario.
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The market share growth by the OTC PPIs segment will be significant during the forecast period. Over-the-counter (OTC) drugs are defined as medicines that are sold directly to patients or consumers without a prescription from a healthcare professional. The high proton pump inhibitors market share is attributed to the easy accessibility and affordability of OTC drugs, which increases their use among patients.
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The OTC PPIs segment was the largest and was valued at USD 1.40 billion in 2018. According to the US Food and Drug Administration (FDA), OTC PPIs are intended to be used for 14 days and can be used thrice a year. Heartburn is characterized by the backflow of stomach content into the oesophagus, a muscular tube that carries food and liquid from the mouth to the stomach. The proton pump inhibitors (PPIs) market has witnessed a shift from prescription PPIs to OTC PPIs in the past few years. The availability of OTC PPIs provides patients with an option for self-medication and reduces the financial burden associated with medication treatment by mitigating the need for a prescription for the purchase of these drugs. These factors will drive the growth of the OTC PPIs segment of the proton pump inhibitors (PPIs) market during the forecast period.
Oral administration stands as a cornerstone in the treatment of infections, offering a convenient and effective means of delivering antibacterial drugs to patients. This route involves the ingestion of PPIs in the form of tablets, capsules, or liquids, allowing the drug to be absorbed through the digestive system and then enter the bloodstream. Oral PPIs are particularly well-suited for less severe infections that do not require immediate intervention or hospitalization. They empower patients to manage their treatment from the comfort of their homes, contributing to outpatient care and reducing the burden on healthcare facilities. Thus, such wide benefits of oral administration will drive the growth of the global proton pump inhibitors (PPIs) market in the oral segment during the forecast period.
Intravenous (IV) administration of PPIs plays a pivotal role in the treatment of severe infections, critical medical conditions, and situations where rapid and precise drug delivery is paramount. This route involves injecting medicine directly into the bloodstream through a vein, allowing for immediate distribution throughout the body. Injectable PPIs are particularly valuable in hospital settings, where patients require intensive care and continuous monitoring or cannot tolerate oral medications. PPIs are administered intravenously in the following cases: The infection is severe, and other routes may not work well. Antibiotics cannot be taken orally due to vomiting. The types of intravenous administration are as follows: An intravenous injection is an injection given over a few seconds or a few minutes. Intravenous injection is sometimes called a bolus injection. Reduction of gastric acid production can be treated through a brief course of intravenous PPIs. Thus, the increasing incidence of gastrointestinal problems will accelerate the growth of the proton pump inhibitors (PPIs) market in the injectable segment during the forecast period.
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North America is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that will shape the market during the forecast period. The largest proton pump inhibitors market share of the region is attributed to the presence of large pharmaceutical companies that offer both branded and generic PPIs and the presence of a proper regulatory framework for the approval of new drugs in the region. In addition, the region also harbours a large patient pool with acid-related problems and requires PPI intervention for their treatment. The increased consumption of alcohol and tobacco and the adoption of an urban lifestyle are the major factors that are contributing to the increased patient pool with gastrointestinal diseases, thus driving the proton pump inhibitors (PPIs) market growth in the region.
Moreover, the increased disposable income of people is leading to a greater number of patients opting for treatment, thereby contributing to the proton pump inhibitors market growth in this region. In addition, the increased focus of key companies on investing in R&D activities to maintain their market position is anticipated to have a positive impact on the market growth during the forecast period.
Countries across North America were severely affected by the COVID-19 pandemic in 2020. However, with the initiation of large-scale vaccination drives and free distribution of COVID-19 vaccines to citizens, businesses in the North American region recovered at a faster rate. To support the sale of nonprescription or OTC drugs, such as OTC PPIs, the American President, Joe Biden, signed the Coronavirus Aid Relief and Economic Security (CARES) Act (HR 748) in March 2020. OTC drugs, including nonprescription medications such as OTC PPIs, can again be purchased using tax-preferred funds by the nearly 60 million Americans enrolled in FSAs and HSAs. The rising R&D expenditure by pharmaceutical companies in 2023 is expected to influence the growth of the PPIs market positively in North America during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 19 market companies, including:
Amgen Inc. - The company offers proton pump inhibitors such as LUMAKRAS with gastric acid reducing agents decreased sotorasib concentrations.
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
There are multiple factors influencing market growth. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges.
Reformulation of drugs is a key factor driving the market growth. Drug delivery systems such as transdermal patches, extended-release (ER) formulations, and orally disintegrating tablets increase the efficacy of drugs either by increasing patient compliance or by increasing the bioavailability of the drug. The reformulation of marketed drugs also provides an opportunity to grab patent term extensions, which can delay the entry of generic versions into the market. Moreover, the reformulation of solid dosage forms, such as tablets, can provide a window for titrating the dose as per individual requirements. For instance, the availability of two dosage forms, NEXIUM 10 mg and 20 mg, will increase the consumption of the drug for various indications, particularly acid-related diseases, in both children aged one year and above the older patients with difficulty in swallowing. In Japan, AstraZeneca is responsible for manufacturing, while DAIICHI SANKYO is responsible for distribution and sales of NEXIUM 10 mg and 20 mg, thus resulting in the co-promotion of the drug by the two companies.
Further, Eisai is responsible for marketing and manufacturing the drugs, while EA Pharma is responsible for their distribution and sales in Japan Hence, the reformulation of drugs provides vendors with patent extension exclusivity and helps them maintain their position in the global proton pump inhibitors (PPIs) market. Therefore, these factors will drive the growth of the global proton pump inhibitors (PPIs) market during the forecast period.
The rising prevalence of obesity is an emerging trend shaping the market growth. The current epidemiology data of obesity and GERD-related disorders such as oesophagal erosions, Barret's oesophagus (BE), and oesophagal adenocarcinoma generated significant curiosity among researchers to study the association between these two conditions. The results from several case-control and cohort studies indicate that obesity fulfills several criteria that establish an association with GERD. According to the World Obesity Federation's World Obesity Atlas 2023, if preventive and treatment strategies do not improve, the yearly worldwide economic cost of overweight and obesity is expected to reach USD 4.32 trillion by 2035.
However, the rising prevalence of obesity increases the risk of being affected by oesophagal- and gastrointestinal-related diseases, which is anticipated to increase the demand for PPIs for their treatment, thereby having a positive impact on the growth of the global proton pump inhibitors (PPIs) market during the forecast period.
Counterfeit drugs are a significant challenge hindering the market growth. The probability of buying counterfeit drugs from the market is high. According to the US FDA, there are many illegal websites that sell unapproved drugs that contain the wrong active ingredients or harmful ingredients or too much or too little of the active ingredients. The FDA notifies website owners through warning letters that their actions violate the Federal Food, Drug, and Cosmetic Act of the United States and that they are involved in criminal behavior. The consumption of counterfeit drugs can affect the health of the consumer, and their availability in the market can affect the sales of branded drugs. The FDA also electronically reviews all shipments of imported goods that are subject to FDA regulations.
In addition. FDA has quality, safety, and efficacy standards that must be met by imported medications. When it comes to registration, listing, drug applications, drug labeling, and current good manufacturing practices (cGMPs), the FDA confirms compliance with these standards. Additionally, the FDA examines and samples imported goods at random. Thus, the production of counterfeit drugs will decrease, which, in turn, will increase the growth of the global proton pump inhibitors (PPIs) market during the forecast period.
The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Proton Pump Inhibitors (PPIs) Market Customer Landscape
The proton pump inhibitors (PPIs) market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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Proton Pump Inhibitors (PPIs) Market Scope |
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Report Coverage |
Details |
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Page number |
161 |
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Base year |
2023 |
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Historic period |
2018 - 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.86% |
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Market Growth 2024-2028 |
USD 807.89 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.31 |
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Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
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Performing market contribution |
North America at 36% |
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Key countries |
US, Canada, Germany, UK, and China |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Amgen Inc., AstraZeneca Plc, Aurobindo Pharma Ltd., Bausch Health Companies Inc., Bayer AG, Cipla Ltd., Dr Reddys Laboratories Ltd., Eisai Co. Ltd., Eli Lilly and Co., Glenmark Pharmaceuticals Ltd., Johnson and Johnson, Perrigo Co. Plc, Pfizer Inc., RedHill Biopharma Ltd., Sanofi, Sun Pharmaceutical Industries Ltd., Takeda Pharmaceutical Co. Ltd., Teva Pharmaceutical Industries Ltd., The Procter and Gamble Co., and Zydus Lifesciences Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Route of Administration
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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