Proton Pump Inhibitors Market Is Expected to Reach US$ 3.5 Billion at a 4.30% CAGR By 2027 | Coherent Market Insights
SEATTLE, April 29, 2021, (PHARMIWEB) — Overview:
Proton pump inhibitors are medications that are used to reduce stomach acid levels for a long time in people who have gastroesophageal reflux disease, hyperacidity and ulcers. Proton pump inhibitors (PPIs) have a different mechanism of action as they are supplied in a non-lipophilic way to the environment and easily cross the cell membrane into intracellular compartments such as the parietal cell canaliculus with acidic areas, and the inactive drug is indicated and rearranged into its active in acidic environments and irreversibly blocks the gastric proton pump of the gastric parietal cells.
The global proton pump inhibitors market is estimated to be valued around US$ 2.9 billion in 2020 and is expected to register a CAGR of 4.30% over the forecast period (2020-2027).
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Rising incidence of obesity in adults and adolescents, is expected to drive growth of the global proton pump inhibitors market during the forecast period. For instance, in 2017, according to the U.S. National Library of Medicine report, individuals with higher body mass index (BMI) have a higher risk of gastrointestinal diseases such as gastroesophageal reflux disease and can lead to esophageal erosions.
Moreover, increasing incidence of gastrointestinal diseases including duodenal ulcers, barrets esophagus, and non-erosive reflux disease (NERD) are expected to propel growth of the global proton pump inhibitors market over the forecast period. For instance, in July 2020, according to the U.S. National Library of Medicine report published, around 60% of people were suffering from non-erosive reflux disease (NERD) and 30% of people were suffering from barrets esophagus in the U.S.
Impact of Coronavirus (COVID-19):
Since the outbreak of COVID-19 in December 2019, the disease has spread to over 100 countries around the world and the World Health Organization has declared it a public health emergency. For instance, according to a World Health Organization report, exposure to coronavirus (COVID-19) has resulted in around 34,804,348 infected people globally since 4 October 2020.
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COVID-19 can affect in three main ways; by directly affecting production and demand; by creating disruption to distribution channels; and its financial impact on financial firms and markets. Supply chain and manufacturing operations in India, China, and the U.S. have been damaged due to nationwide lockdowns. While countries including Saudi Arabia, UAE, Egypt, and others are facing problems regarding drug trafficking from one place to another place. Moreover, people who have been taking proton pump inhibitors medication for a long time may become infected with COVID-19. For instance, in August 2020, according to the National Library of Medicine Report published, use of proton pump inhibitors can increase risk of COVID-19. Furthermore, people who use proton pump inhibitors twice daily are more likely to be infected with COVID-19. These factors are hinder the growth of global proton pump inhibitors market. Therefore, the COVID-19 epidemic has also disrupted the global proton pump inhibitors market in the negative way.
On the basis of regions, the North America market is expected to witness robust growth due to rising approvals of proton pump inhibitors products. For instance, in 2017, AstraZeneca plc/AB, a biopharmaceutical and pharmaceutical company, received the U.S. Food Drug and Administration’s approval for Nexium (esomeprazole magnesium), for treating gastroesophageal reflux disease in children in the age group of 1 to 11 for short term use.
The Europe proton pump inhibitors market is expected to register significant growth over the forecast period due to rising focus of major players on obtaining approvals and launching novel products in the market. For instance, in April 2018, Perrigo Company plc and its partner, Dexcel Pharma Technologies, Ltd, announced the launch of novel omeprazole orally disintegrating tablet omeprazole OD, omeprazole OD mouth dissolving tablet approved by the U.S. FDA with MelTech melt-in-your-mouth technology, which dissolves the tablet without water in the mouth. Ompeprazole OD is an over-the-counter medication for treating heartburn.
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- By Type:Omeprazole, Pantaprazole, Rabeprazole, Dexlansoprazole, lansoprazole, and others.
- By Disease Indication: Ulcers, Gastroesophageal Reflux Disease, and Others.
- By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, and Others.
Key players dominating in the global proton pump inhibitors market such as AstraZeneca PLC/AB, Pfizer Inc., Bayer AG, Eisai Pharmaceuticals India Pvt. Ltd, Cadila Pharmaceuticals Limited, Santarus, Inc., Janssen Pharmaceutica, Wyeth, LLC, Takeda Pharmaceutical Company Limited, Aurobindo Pharma, Perrigo Company plc, Sanofi S.A, Dr. Reddy’s Laboratories, RedHill Biopharma Ltd (ADR), Cipla Limited, and Aralez Pharmaceuticals Inc.About Us:
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