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Proton Pump Inhibitors (PPIs) Market Report
Global Proton Pump Inhibitors (PPIs) Market report is segmented By Drug Type (Over-the-counter Drugs [Omeprazole, Lansoprazole, Esomeprazole, Others], Prescription Drugs [Rabeprazole, Dexlansoprazole, Pantoprazole, Others]), By Disease (Ulcers, Gastroesophageal Reflux Disease, Others), By Distribution Channel (...
Impact of COVID-19 on Proton Pump Inhibitors (PPIs) Market
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The Global Proton Pump Inhibitors (PPIs) Market is projected to grow from USD 2.85 billion in 2020 to USD 3.76 billion by 2026 at a CAGR of over 4.7% during the forecast period.
Figure: Global Proton Pump Inhibitors (PPIs) Market Size, 2020-2026 (USD Billion)
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Proton pump initiators (PPIs) are drugs that are primarily used for profound and prolonged reduction of stomach acid levels in individuals suffering from hyperacidity, gastroesophageal reflux disease, and ulcers.
PPIs possess a unique mechanism of action as they are given in an inactive form that is lipophilic and readily crosses cell membranes into intracellular compartments such as the parietal cell canaliculus with an acidic environment, then the inactive drug is rearranged after protonation into its active form in an acidic environment, which irreversibly blocks the gastric proton pump of gastric parietal cells.
Key players operating in the global proton pump inhibitors market are-
Growing acceptance of novel drug delivery systems and increasing prevalence of peptic ulcers and other gastrointestinal disorders are some of the key factors augmenting the market growth. Rising consumer acceptance of novel drug delivery systems and new product launches offer immense growth opportunities to the market players.
However, consumers in isolated regions tend to prefer the common antacids to deal with gastrointestinal and ulcer disorders, which is likely to hinder the product demand.
Based on drug type, the global proton pump inhibitors market has been bifurcated into over-the-counter drugs and prescription drugs.
By region, the North American market accounted for the largest market share in 2020 and is estimated to grow at a steady CAGR during the assessment period. This can be attributed to increasing approvals of proton pump inhibitor products and the increasing prevalence of GERD in the US, Canada, and Mexico, which proliferates the industry growth in the region. Moreover, GERD affects almost 20% of adults in the US, thereby making the disease an important concern, which propels regional growth.
Many scientists have found that PPIs have increased the risk of COVID-19 in patients taking these medications. In 2020, the researchers of the American Journal of Gastroenterology carried out a research in which more than 53,000 people taking PPIs participated, of which 3,386 were tested positive for COVID-19. This is likely to negatively impact the market growth as the patients undergoing PPI therapy are recommended to consume less medication and avoid these medications unless it is an emergency.
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Here is the list of the group of customers that the Proton Pump Inhibitors (PPIs) market hopes to have the greatest opportunity to convert-
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The proton pump inhibitors market is expected to witness an impressive growth of 4.7% CAGR in the foreseeable future.
AstraZeneca PLC/AB (UK), Bayer AG (Germany), Pfizer Inc. (The U.S), Cadila Pharmaceuticals Limited (India), Eisai Pharmaceuticals India Pvt. Ltd (India), Santarus, Inc. (The U.S), Wyeth, LLC (The U.S), Janssen Pharmaceutical (Belgium), Takeda Pharmaceutical Company Limited (Japan) and Sanofi S.A. (France) are among the key players in the proton pump inhibitors market.
The proton pump inhibitors market size is expected to reach USD 3.76 billion in the coming years.
North America accounted for the largest share of proton pump inhibitors market in 2020.
The esomeprazole under the OTC drug segment garnered the highest share in the proton pump inhibitors market.
Growing acceptance of novel drug delivery systems and increasing prevalence of peptic ulcers and other gastrointestinal disorders are the factors driving the growth of proton pump inhibitors market.
Proton Pump Inhibitors (PPIs) companies, Proton Pump Inhibitors (PPIs) vendors, Hospitals, Pharmaceutical companies, R&D organizations are the target audience in the proton pump inhibitors market.
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