by The global Proton Pump Inhibitors Market is estimated to be valued at US$ 3.29 Bn in 2023 and is expected to exhibit a CAGR of 10% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights. Proton pump inhibitors (PPIs) are a group of medicines that work by reducing the amount of acid produced in the stomach. They are used to treat acid-related diseases like gastroesophageal reflux disease (GERD), ulcers, and others. The increasing prevalence of acid related diseases like ulcers and GERD among elderly population is expected to drive the market growth.
Market key trends:
The increasing prevalence of acid related diseases is one of the major factors propelling the growth of the proton pump inhibitors market. Acid related diseases like peptic ulcer disease and Gastroesophageal reflux disease (GERD) have become highly prevalent globally. GERD, in particular, is on the rise in parts of Asia, Africa, and South America due to increasing stress levels, hectic lifestyles, and consumption of spicy and fatty foods. As per the Global Burden of Disease Study, approximately 11 million people are affected by GERD in India alone. Similarly, peptic ulcer disease remains highly prevalent in developing countries. As per the report published by World Health Organization (WHO) in 2012, the prevalence of peptic ulcer is 3-10% in the general adult population globally. PPIs are the primary treatment option for acid related diseases like ulcers and GERD. Hence, the rising disease burden is expected to drive the demand for PPIs over the forecast period.
SWOT Analysis
Strength: Proton pump inhibitors are highly effective at reducing stomach acid production. They provide quick relief from symptoms of acid reflux and ulcers.
Weakness: Long term use may increase risk of nutrient deficiencies and bone fractures. Overuse or misuse can also lead to kidney problems.
Opportunity: Growing geriatric population suffering from acid-related disorders increases demand. Innovation in delivery mechanisms like chewable tablets expands patient access.
Threats: Patent expirations encourage generic competition and pricing pressures. Alternative therapies like H2 blockers capture some market share.
Key Takeaways
The Global Proton Pump Inhibitors Market Share is expected to witness high growth.
Regional analysis comprises Asia Pacific is the fastest growing market owing to rising geriatric population suffering from acid-related disorders.
Key players operating in the proton pump inhibitors market are Koninklijke TenCate (Netherlands), Low & Bonar (UK), Fibertex Nonwovens (Denmark), Thrace Group (Greece), Huesker (Germany), Berry Global (US), DuPont (US), Strata Systems (US), Leggett & Platt (US), Officine Maccaferri (Italy), GSE Environmental (US), Kaytech (South Africa), Mattex (Saudi Arabia), NAUE (Germany), Propex Operating Company (US), Carthage Mills (US), and Asahi Kasei Advance Corporation (Japan).
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Source: Coherent Market Insights, Public sources, Desk research
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