Proton pump inhibitors (PPIs) are a type of medication that work by reducing the amount of acid produced in the stomach. PPIs are used to treat various acid-related disorders including erosive esophagitis, symptomatic gastroesophageal reflux disease, duodenal and gastric ulcers caused by Helicobacter pylori, and Zollinger-Ellison syndrome. Some common PPI medications include omeprazole, esomeprazole, lansoprazole, rabeprazole, and pantoprazole. The global proton pump inhibitors market size 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 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity
The key growth opportunity for the proton pump inhibitors market lies in increasing prevalence of digestive disorders. According to the findings of International Foundation for Functional Gastrointestinal Disorders, over 60 million Americans are affected by digestive diseases each year. Digestive and liver diseases are the third leading cause of disease burden in America. The burden and costs of acid-related gastrointestinal disorders and gastrointestinal ulcers is significant worldwide. PPI drugs have been gaining significant popularity in recent years for effective treatment and management of such disorders. Increasing awareness about PPI drugs and their advantages over traditional antacids is expected to fuel market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as the industry requires high R&D investments for product development. However, low differentiation between existing products allows scope for new players.
Bargaining power of buyers: The bargaining power of buyers is high given the availability of generic PPIs and presence of many established manufacturers providing treatment options. Buyers can negotiate on price.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as raw materials for PPI manufacturing are commodity chemicals freely available from multiple suppliers.
Threat of new substitutes: Threat of new substitutes is low as currently there are limited treatment options for acid reflux and ulcers available.
Competitive rivalry: The competitive rivalry is high among key players to gain market share through product innovation and investment in marketing.
SWOT Analysis
Strength: PPIs are highly effective drugs for acid reflux treatment. Established drug delivery and strong distribution networks of key players.
Weakness: Long term PPI usage can cause side effects like kidney damage and bone fractures. Rising generic competition impacts brand names.
Opportunity: Large patient pool for gastric acid related diseases offers scope to penetrate newer regions. Combination therapy with antibiotics and development of delayed-release formulations can boost growth.
Threats: Safety concerns over long term use and rising awareness about side effects negatively impacts the market. Strong regulatory norms for new drug approvals pose challenges.
Key Takeaways
The Global Proton Pump Inhibitors Market Share is expected to witness high growth over the forecast period of 2023-2030 supported by rising geriatric population susceptible to acid reflux diseases.
The North American region currently dominates the PPI market owing to high treatment adoption rates and developed healthcare infrastructure. However, Asia Pacific is poised to witness fastest growth during the forecast period. Factors such as rising healthcare spending, large patient population and increasing medical tourism will boost the Asia Pacific PPI market.
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), among others. The market is moderately consolidated with top players competing on the basis of their portfolio, brand value and pricing.
For more details on the report, Read- https://www.pressreleasebulletin.com/proton-pump-inhibitors-market-demand-share-analysis/
