Global proton pump inhibitors market is estimated to witness high growth, owing to growing geriatric population and increasing prevalence of gastrointestinal disorders
Global Proton Pump Inhibitors Market is estimated to be valued at USD 3.81 Bn in 2024, exhibiting a CAGR of 5.4% over the forecast period (2024-2031). Proton pump inhibitors have gained popularity for the treatment of acid reflux and peptic ulcers. Furthermore, increasing adoption of PPIs for management of other gastrointestinal disorders c can drive the market growth during the forecast period.
Market Dynamics:
Rising geriatric population worldwide who are prone to various gastrointestinal issues can drive the global proton pump inhibitors market growth. Ageing diminishes the functioning of stomach and increases the risks of conditions like gastric ulcers and GERD, and this boosted demand for PPIs. Growing prevalence of lifestyle diseases worldwide has simultaneously increased the instances of digestive disorders like gastric acid reflux. This has boosted the need for effective antacid drugs like PPIs. Factors such as growing healthcare expenditure, product innovation, and increasing awareness about treatment of gastrointestinal disorders can drive the proton pump inhibitors market growth.
Increasing Prevalence of Gastrointestinal Diseases
Global proton pump inhibitors market growth is driven by rising prevalence of gastrointestinal diseases globally. Proton pump inhibitors are commonly prescribed to treat acid reflux, ulcers, and other gastric issues. According to the World Gastroenterology Organization, gastrointestinal diseases affect around 2 million people worldwide with the three most common being gastroesophageal reflux disease, peptic ulcer disease, and irritable bowel syndrome. Increasing risk factors such as obesity, stress, and poor diet have contributed to growth of gastrointestinal diseases. As more people are diagnosed with gastrointestinal conditions, there will be huge demand for proton pump inhibitors.
Growing Geriatric Population Boosts Usage of Proton Pump Inhibitors
Global proton pump inhibitors market growth is driven by rapid growth of the geriatric population. Older adults tend to be more prone to gastrointestinal issues due to weaker gastric muscles and reduced hydrochloric acid production. According to the data published by United Nations, the population aged 65 years and above is projected to reach 1.5 billion by 2050. Manufacturers are also developing new delivery methods like chewable tablets to cater to the needs of the elderly people.
Patent Expiries of Blockbuster Drugs
Global proton pump inhibitors market growth can be hampered by patent expiry of top-selling branded drugs. The patents for blockbuster medications like Nexium and Prilosec expired between 2014-2020, thus, allowing the production of cheaper generic versions. Major companies are finding it difficult to increase prices of their off-patent drugs against generic equivalents. The commoditization of older proton pump inhibitors post their patent cliff is diminishing returns for developers. Firms will need to invest heavily in innovative new drug formulations to overcome this restraint.
Shift Towards Generic Drugs
The shift towards generic prescription of proton pump inhibitors a can hamper the market growth. Once blockbuster drugs lose exclusivity, physicians are more likely to recommend generic versions, which are 60-80% cheaper than their brand counterparts. In the U.S. alone, over 80% of proton pump inhibitor prescriptions are now filled using generic drugs. While the total volume of drugs sold increases, the profit margins per prescription decrease. Companies focused on off-patent products are struggling with pricing pressures in healthcare systems globally. To counter falling prices, these companies will need to promote higher-value formulations like combination therapies.
Novel Indications Expand Commercial Opportunities
Emerging research on new therapeutic applications can offer opportunity for the proton pump inhibitors market growth. Some studies indicate that these may treat or prevent conditions like lung cancer, colon cancer, and musculoskeletal disorders. If approved for these additional indications, it could significantly broaden the eligible patient pool for existing proton pump inhibitors. Firms investing in clinical trials for novel usage stand to gain FDA approvals for supplemental marketing labels.
Combination Drug Therapies
Combining proton pump inhibitors with other active ingredients within a single pill can offer commercial opportunities for the market growth. Some in-development formulations add medications for ulcer-related bacteria or nonsteroidal anti-inflammatory properties. These 'polypills' offer enhanced efficacy for multiple GI conditions with just one daily dose. Their convenience could capture new customers unwilling to take separate maintenance pills. These easier to use therapies support better adherence.
Link - https://www.coherentmarketinsights.com/market-insight/proton-pump-inhibitors-market-4225
Key Development
- In May 2023, AstraZeneca, a biopharmaceutical company, launched its latest advancement- "ProtonEase XR." This new formulation is an extended-release tablet that is specifically engineered to deliver continuous acid suppression over an extended period, ensuring prolonged efficacy throughout the day.
- In September 2022, the U.S. FDA approved omeprazole and sodium bicarbonate for oral suspension (Konvomep, Azurity) to treat active benign gastric ulcers and prevent upper gastrointestinal bleeding in critically ill patients. This new formulation combines the proton pump inhibitor omeprazole with sodium bicarbonate, offering patients a liquid option of this widely prescribed medication to reduce stomach acid and alleviate conditions like heartburn and peptic ulcers.
- In April 2022, Daewon Pharmaceutical, a pharmaceutical company, introduced Escorten, one of Korea's initial proton-pump inhibitor medications. It contains esomeprazole magnesium trihydrate in a 10mg formulation.
- In January 2022, TWI Pharmaceuticals USA, a technology-based special pharmaceutical company, launched a generic version of Dexilant in the U.S. This dexlansoprazole medication is designed to alleviate heartburn associated with GERD (Gastroesophageal Reflux Disease) and aid in the healing of erosive esophagitis. It is available as delayed-release capsules in 30mg and 60mg strengths.
Key Players: AstraZeneca, Pfizer, Takeda Pharmaceutical Company Limited, Novartis AG, Procter & Gamble, Johnson & Johnson, GlaxoSmithKline plc, Bayer AG, Eisai Co., Ltd., Merck & Co., Inc., Dr. Reddy’s Laboratories Ltd., Sanofi, Teva Pharmaceutical Industries Ltd., Mylan N.V., Sun Pharmaceutical Industries Ltd., Allergan, Inc., Cadila Pharmaceuticals, Daiichi Sankyo Company, Limited, Perrigo Company PLC
