Proton Pump Inhibitor Market

Proton Pump Inhibitor Market Size (2023 to 2028)

The global proton pump inhibitor market growth is expected to reach USD 4.1 Billion by 2028 from USD 3.2 Billion in 2023, with a CAGR of 4.7% during the forecast period 2023 to 2028.

Proton pump inhibitors (PPIs) are drugs primarily used to effectively and long-lastingly reduce stomach acid levels in individuals suffering from hyperacidity, ulcers, and gastroesophageal reflux disease (GERD). PPIs have become the preferred choice over H2 blockers for reducing stomach acid and are commonly prescribed. Examples of PPIs include lansoprazole (Prevacid), omeprazole (Prilosec), pantoprazole (Protonix), rabeprazole (AcipHex), and esomeprazole (Nexium). They are prescribed for both preventing and treating ulcers in the stomach and duodenum, as well as addressing the problems arising from the escape of stomach acid into the esophagus, known as GERD.

The American College of Gastroenterology reports that more than 60 million individuals in the United States encounter acid reflux or heartburn symptoms at least once per month. PPIs are widely used medications, with a study conducted in 2015 indicating that 7.8% of U.S. adults were taking them to alleviate symptoms caused by excess stomach acid. These statistics highlight the significant market potential for investment in the gastroesophageal market.

Market Drivers:

The major factors contributing to the growth of the market are the rise in acceptance of new drugs and therapeutics, the increasing prevalence of GERD, and the rising old-age population.

Market players are presented with significant growth opportunities due to increasing consumer acceptance of novel drug delivery systems and the introduction of new products.

Moreover, proton pump inhibitors are considered the standard medication for treating gastroesophageal reflux disease (GERD), which is becoming increasingly prevalent. Several risk factors contribute to the occurrence of GERD, including obesity, delayed stomach emptying, and lifestyle factors such as smoking, alcohol consumption, and the consumption of fatty and fried foods. The International Foundation for Gastrointestinal Disorders reports that PPIs effectively heal esophageal inflammation in 90–94% of cases.

Additionally, the utilization of proton pump inhibitors is anticipated to rise due to the growing elderly population, given that geriatric age represents a significant risk factor for GERD. According to data published by the World Health Organization in October 2022, it is projected that by 2030, one in six people worldwide will be aged 60 years or older, and by 2050, the global population of people aged 60 years and older will double to reach 2.1 billion. Consequently, this factor is anticipated to contribute to market growth.

Expanding the market in Eastern Mediterranean countries presents several platform opportunities for market growth. According to a WHO report, out of 86 countries, the Eastern Mediterranean region accounts for 14.8% of GERD cases. Therefore, entering this market will create new opportunities and facilitate the implementation of innovative technologies.

Market Restraints:

The major factors restraining the market are the increasing use of generic products and the potential side effects associated with proton pump inhibitors (PPIs). As the utilization of PPIs continues to rise, it becomes crucial to comprehensively understand the extent of their adverse effects. While there has been significant media attention given to the potential adverse effects of these medications, however, it is essential to acknowledge that many of these connections are derived from low-quality evidence and observational correlations, rather than established causation.

Furthermore, the expiration of patents for blockbuster products and over-the-counter (OTC) treatments for gastric ulcers and related disorders is impeding the growth of the global proton pump inhibitors market.

Impact of COVID-19 on the Proton Pump Inhibitor Market:

The global COVID-19 pandemic had a significant impact on businesses worldwide, disrupting their operations across various industries. To control the rapid spread of the disease, numerous countries implemented lockdown measures, resulting in the temporary closure of manufacturing facilities and a halt in production. The healthcare industry, in particular, encountered significant challenges as the outbreak caused widespread confusion and misinformation, placing immense pressure on hospitals and healthcare systems worldwide.

Numerous studies have indicated a potential link between proton pump inhibitors (PPIs) and an increased risk of COVID-19 among patients using these medications. In 2020, a research study conducted by the American Journal of Gastroenterology involved over 53,000 PPI users, among whom 3,386 individuals tested positive for COVID-19. This finding may have a negative influence on market growth, as patients undergoing PPI therapy are recommended to minimize medication usage and avoid these drugs unless it is an emergency. However, as the pandemic has gradually subsided and fewer people are being infected with the virus, the studied market is expected to experience favorable growth during the forecast period of the study.

Report Coverage:

The market of proton pump inhibitor treatment is segmented and sub-segmented into drug types, disease indications, distribution channels, and regions.

By Drug Type

• Over-the-Counter (OTC) Drugs
  • Omeprazole
  • Lansoprazole
  • Esomeprazole
  • Other OTC Drugs
• Prescription Drugs
  • Rabeprazole
  • Dexlansoprazole
  • Pantoprazole
  • Others

Based on drug type, during the projected period, the over-the-counter (OTC) segment is anticipated to dominate the market. Esomeprazole is expected to contribute significantly to the revenue as it is commonly prescribed for the treatment of symptoms related to gastroesophageal reflux disease, heartburn, and other conditions involving excessive stomach acid. The transition of esomeprazole from a prescription-only medication to an OTC drug is expected to be a key driver for its sales in the near future. However, it is important to note that healthcare professionals advise against using OTC PPIs for more than 14 days without consulting a physician.

By Disease indication

• Ulcers
• Gastroesophageal Reflux Disease
• Others

Based on disease indication, the gastroesophageal reflux disease (GERD) segment emerged as the dominant market segment in 2022. According to the American Gastroenterological Association, GERD affects approximately 33% of the global population. In the United States, it is estimated that up to 40% of the population experiences GERD symptoms on a monthly basis, with 20% experiencing symptoms weekly.

On the other hand, ulcers are frequently increasing among people, due to changes in lifestyle. Thus, expected to record the fastest CAGR during the forecasted period.

By Distribution Channel

• Hospital pharmacies
• Retail pharmacies
• Online pharmacies

Based on end-users, the hospital pharmacies segment dominated the market in 2022. Hospitals serve as central hubs for patient care and complex surgical procedures. The increasing preference of patients for hospitals as screening venues, the rise in the number of hospitals in emerging economies, and the strong network of hospitals in developed countries. Growing awareness among the general population and the implementation of screening programs in healthcare facilities further contribute to market growth.

On the other hand, the online, as well as retail pharmacies segment, is projected to hold an equal share of the global market. This can be attributed to the increasing penetration of the internet, easy access to nearby stores, and the wide range of products available on e-commerce platforms, offering convenience and variety to consumers.

By Region

• North America
• Europe
• Asia-Pacific
• The Middle East & Africa
• Latin America

By region, North America dominates the market. This trend is expected to continue without significant fluctuations during the forecast period. The region is experiencing an increasing burden of gastroesophageal reflux disease in countries such as the United States, Canada, and Mexico, largely due to the adoption of unhealthy lifestyles. A publication in the journal Annals of Esophagus in March 2022 estimated that around 40% of the population in the United States experiences GERD symptoms, with 10-20% of individuals being affected on a weekly basis.

Europe also holds a significant share of the overall industry. A study published in the Springer Nature group revealed that the prevalence of gastroesophageal reflux disease (GERD) in Europe ranges from 2.5% to 7.8%. This indicates the presence of a considerable patient population in the region, contributing to the market's expansion.

The rest of the world is also expected to experience considerable growth, with a noteworthy CAGR in the forecasted period. For instance, the estimated prevalence of gastroesophageal reflux disease varies between 15% to 25%. Saudi Arabia has reported a prevalence range of 15% to 45.4%, while Western Asia falls within the range of 10% to 20%. In the Middle East, the prevalence ranges from 8.7% to 33.1%, while in Eastern Asia it is less than 10%. Western countries, including the USA, have higher prevalence rates of GERD compared to Asia, with a range of 10% to 30% or higher. This widespread condition affecting the gastrointestinal tract has a significant impact on the health-related quality of life of patients, which eventually increase the demand for PPI usage in these regions.

Key Market Players:

Some of the notable key market players include Bayer AG (Germany), Cadila Pharmaceuticals Limited (India), Santarus, Inc. (The U.S), Wyeth, LLC (The U.S), AstraZeneca (UK), Janssen Pharmaceutical (Belgium), Eisai Pharmaceuticals India Pvt. Ltd (India), Takeda Pharmaceutical Company Limited (Japan), Pfizer Inc. (The U.S.), and Sanofi S.A. (France).

Recent Market Developments:

1. In April 2022, Daewon Pharmaceutical introduced Escorten, one of the pioneering proton-pump inhibitor medications in South Korea. Escorten is formulated with esomeprazole magnesium trihydrate and is available in a 10mg dosage strength.
2. In January 2022, TWI Pharmaceuticals USA introduced the generic version of Dexilant. This medication, containing dexlansoprazole, is utilized for the treatment of heartburn resulting from gastroesophageal reflux disease (GERD) and the healing of erosive esophagitis. It is available in the form of delayed-release capsules with strengths of 30mg and 60mg.
3. In March 2021, Xiromed LLC, the generic division of Insud Pharmaceuticals based in New Jersey, introduced Omeprazole Delayed-Release Capsules, 20mg, which is a generic version of Prilosec. This launch of the drug is playing a significant role in driving the market's growth.