by Proton pump inhibitors (PPIs) are a group of drugs whose main action is suppression of gastric acid secretion by inhibition of the hydrogen-potassium adenosine triphosphatase enzyme system (the proton pump) of the stomach. PPIs are commonly used in the treatment of acid reflux disease, peptic ulcers, and Zollinger-Ellison syndrome. They are also used to decrease gastric acid in patients requiring NSAIDs who are at risk of developing gastric ulcers. Conditions like acid reflux disease and peptic ulcers are increasingly common and the need to control gastric acid levels has led to widespread demand for proton pump inhibitors.
The global Proton Pump Inhibitors Market is estimated to be valued at US$ 3.8 Mn in 2024 and is expected to exhibit a CAGR of 6.7% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends in the proton pump inhibitors market is the development of combination products. These combination products pair PPIs with other drugs to offer additional symptom relief. For example, certain PPIs are combined with analgesics to offer heartburn relief as well as pain relief. Combination products improve patient compliance as they reduce the number of pills patients need to take. This drives their popularity. There is a growing preference for combination products in the proton pump inhibitors market as they address multiple symptoms effectively with a single drug.
Porter’s Analysis
Threat of new entrants: Low as the proton pump inhibitors market requires large investments in R&D and clinical trials to develop new drugs. Many players also have patented drugs which provides protection from new competition.
Bargaining power of buyers: Moderate as many new drug options are available for buyers to treat acid reflux and gastric ulcers. However, branded drugs still have strong loyalty.
Bargaining power of suppliers: Low as raw materials used in manufacturing proton pump inhibitors are commoditized and available from numerous suppliers globally.
Threat of new substitutes: Moderate as alternative drug classes like H2 blockers are available though they are less potent than proton pump inhibitors.
Competitive rivalry: High as the market is dominated by few large players. Price competition and new product launches intensify competition.
Key Takeaways
The Global Proton Pump Inhibitors Market Share is expected to witness high growth. The global Proton Pump Inhibitors Market is estimated to be valued at US$ 3.8 Mn in 2024 and is expected to exhibit a CAGR of 6.7% over the forecast period 2024 to 2031.
The North America region currently dominates the market due to high awareness and developed healthcare infrastructure. Europe is the second largest marketsupported by rising gastric ulcer cases. Asia Pacific market is growing fastest with increasing healthcare spending in China and India.
Key players: Key players operating in the Proton Pump Inhibitors market are Horizon Therapeutics plc, Ammonett Pharma LLC, Medison Pharma Ltd., Modern Dietetics Inc., Synageva BioPharma Corp., Medison Pharma Ltd., Swedish Orphan Biovitrum AB (Sobi), Entera Health, Inc., Dipharma Francis S.r.l., Ucyclyd Pharma, Inc. Horizon Therapeutics plc dominates the market with extensive brand portfolio and global footprint.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
