Proton Pump Inhibitors Market to Surpass Valuation of USD 7.35 Billion by 2031 | SkyQuest Technology
Proton Pump Inhibitors Market size was valued at around USD 4.90 billion in 2023 to reach a value of USD 7.35 billion by 2031, at a CAGR of 5.2% over the forecast period (2024–2031).
Westford, USA, Nov. 25, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that the global proton pump inhibitors market size will reach a value of USD 7.35 Billion by 2031, with a CAGR of 5.2% during the forecast period (2024-2031). There is an increasing demand for proton pump inhibitors due to the improvement in people’s health awareness, especially those concerning the gastrointestinal system. The more people know about the effectiveness of pharmacological remedies, the more likely they are to seek medical help for illnesses associated with acid. This increased awareness is a major factor in the overall rise in proton pump inhibitors use as well as encouraging early care for gastrointestinal issues.
Browse in-depth TOC on the ” Proton Pump Inhibitors Market”
Pages – 196
Tables – 66
Figures – 70
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Proton Pump Inhibitors Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 4.90 Billion |
| Estimated Value by 2031 | USD 7.35 Billion |
| Growth Rate | Poised to grow at a CAGR of 5.2% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and End User |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Introduction of alternatives and new formulations |
| Key Market Opportunities | OTC availability and growing healthcare spending |
| Key Market Drivers | Growing number of drug formulations |
Omeprazole Type to Hold Significant Growth due to its High Efficacy in Treating Gastric Acid-Related Disorders
Omeprazole dominates the global proton pump inhibitors market due to its high efficacy in treating gastric acid-related disorders, established safety profile, and wide clinical usage. The product’s cost effectiveness, familiarity in the market and endorsement from physicians further boosts its global proton pump inhibitors market share thereby leading to its superiority in the prescription as well as non- prescription medication spheres.
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Hospital Pharmacy to Lead Market due to their Direct Access to Patients with Severe Acid-Related Conditions
Hospital pharmacies dominate the global proton pump inhibitors market due to their direct access to patients with severe acid-related conditions requiring prescription PPIs. Environments that are controlled, staff that is specialized, as well as physician orders that are placed frequently in hospitals provides appropriate dosages and better treatment compliance thus increasing the role of hospital pharmacies in the global proton pump inhibitors market growth.
North America to Dominate Market due to High Healthcare Accessibility in the Region
North America leads the global proton pump inhibitors market due to high healthcare accessibility, widespread PPI usage for acid reflux and ulcers, and strong patient demand for over-the-counter options. Furthermore, developed healthcare facilities, strict rules on pharmaceuticals, and healthy expenditure on health care also favour the supremacy of proton pump inhibitors in the region translating into yearly increases in the regional market.
Proton Pump Inhibitors Market Insight
Drivers:
- Rising Prevalence of Acid-Related Disorders
- Aging Populations Experiencing More Digestive Disorders
- Rising Preference for Over-the-Counter Proton Pump Inhibitors
Restraints:
- Long-Term Proton Pump Inhibitors Use Can Cause Side Effects
- Emergence of Generic Versions of Proton Pump Inhibitors
- Patients may Develop Resistance to Proton Pump Inhibitors
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Prominent Players in Proton Pump Inhibitors Market
- AstraZeneca (UK)
- Pfizer Inc. (USA)
- Takeda Pharmaceutical Company (Japan)
- Bayer AG (Germany)
- GlaxoSmithKline plc (UK)
- Dr. Reddy’s Laboratories Ltd. (India)
- Teva Pharmaceutical Industries Ltd. (Israel)
- Sun Pharmaceutical Industries Ltd. (India)
- Sanofi S.A. (France)
- Pharma Dynamics (Pty) Ltd. (South Africa)
- AbbVie Inc. (USA)
- Lupin Limited (India)
- Eisai Co., Ltd. (Japan)
- Cadila Healthcare Ltd. (Zydus Cadila) (India)
- Cipla Ltd. (India)
- Merck & Co., Inc. (USA)
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Torrent Pharmaceuticals Ltd. (India)
- RedHill Biopharma Ltd. (Israel)
- Sumitomo Dainippon Pharma Co., Ltd. (Japan)
Key Questions Answered in Global Proton Pump Inhibitors Market Report
- What is the projected market size by 2031?
- Which type of proton pump inhibitor is expected to dominate the market?
- Why does North America lead the global proton pump inhibitors industry?
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This report provides the following insights:
Analysis of key drivers (Easier and faster regulatory approvals, combination therapies attract more patients, treating acid-related disorders quickly), restraints (Chronic use of proton pump inhibitors, price sensitivity in developing markets) opportunities (Advances in genetic profiling, development of novel proton pump inhibitors delivery systems).
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the proton pump inhibitors market.
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the proton pump inhibitors market.
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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