New York, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Proton Pump Inhibitors Global Market Report 2023" - https://www.reportlinker.com/p06486571/?utm_source=GNW
, Janssen Pharmaceutical, GlaxoSmithKline PLC, Changzhou Siyao Pharmaceuticals, Yangzhou Pharmaceutical, and Sanofi S.A.
The global proton pump inhibitors market is expected to grow from $3.15 billion in 2022 to $3.30 billion in 2023 at a compound annual growth rate (CAGR) of 4.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The proton pump inhibitors market is expected to reach $3.90 billion in 2027 at a CAGR of 4.3%.
The proton pump inhibitors market consists of sales of pantoprazole, and lansoprazole DR.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Proton pump inhibitors (PPIs) are a class of medications that reduce the production of acid by the stomach. Proton pump inhibitors (PPIs) are used to treat conditions that are caused by either an overproduction of stomach acid or exacerbated by stomach acid, such as acid reflux, and stomach ulcers.
North America was the largest region in the proton pump inhibitors market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in proton pump inhibitors report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of proton pump inhibitors are pantoprazole, omeprazole, lansoprazole, esomeprazole, rabeprazole, dexlansoprazole, and others.Pantoprazole belongs to a class of medications known as proton pump inhibitors, which work by reducing the amount of acid that the stomach produces.
The proton pump inhibitors are used to treat ulcers, gastroesophageal reflux disease, and others, used in hospitals, clinics, and other treatment centers..
The increasing prevalence of gastrointestinal disorders is expected to drive the growth of the proton pump inhibitors market.Gastrointestinal disorders refer to a collective term of diseases such as nausea, vomiting, food poisoning, and diarrhea that impact the overall biological functioning of the gastrointestinal (GI) tract.
Proton pump inhibitors (PPIs) are commonly prescribed as a medication for treating heartburn and acid-related disorders.PPIs reduce the amount of stomach acid made by glands in the stomach lining.
The increasing prevalence of gastrointestinal disorders contributes to proton pump inhibitors’ growth.For instance, In April 2020, according to a survey by the American Gastroenterological Association covering 33 countries on six continents regarding the prevalence of and factors associated with functional gastrointestinal disorders, among the 73,076 adult respondents, more than 40% of persons worldwide have functional gastrointestinal disorders (FGIDs), which affect the quality of life and health care use.
Additionally, In May 2020, News Medical, a UK-based open-access medical information company, said four people worldwide experience functional gastrointestinal diseases of varying severity for every ten adults. Therefore, the increasing prevalence of gastrointestinal disorders is expected to propel the growth of the proton pump inhibitors market.
Product innovation is a key trend gaining popularity in the proton pump inhibitors market.Major companies operating in the proton pump inhibitors market are focused on developing innovative products to strengthen their position and gain a competitive advantage.
For instance, in March 2021, Xiromed LLC, a US-based generic division of Insud Pharmaceuticals, launched Omeprazole Delayed-Release Capsules, 20mg, a generic version of Prilosec, used to treat symptoms of gastroesophageal reflux disease (GERD) and other conditions caused by excess stomach acid. Omeprazole is a proton pump inhibitor used to treat gastric acid-related disorders such as gastroesophageal reflux disease (GERD), peptic ulcer disease, and other diseases characterized by the over secretion of gastric acid.
In July 2022, Glenmark Pharmaceuticals Limited, an India-based pharmaceutical company acquired Abbreviated New Drug Application (ANDA) for famotidine tablets from Wockhardt for an undisclosed amount.This acquisition demonstrates Glenmark’s continuous growth in the American OTC market as well as its dedication to making sure patients have access to high-quality, reasonably priced medications.
The acquired ANDA includes famotidine tablets, 10 mg and 20 mg (OTC); cetirizine hydrochloride tablets, 5 mg and 10 mg (OTC); lansoprazole delayed-release capsules, 15 mg (OTC); and olopatadine hydrochloride ophthalmic solution, 0.1% (OTC). Wockhardt is an India-based pharmaceutical and biotechnology company that offers lansoprazole delayed-release capsules.
The countries covered in the proton pump inhibitors market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The proton pump inhibitors market research report is one of a series of new reports that provides proton pump inhibitors market statistics, including proton pump inhibitors industry global market size, regional shares, competitors with a proton pump inhibitors market share, detailed proton pump inhibitors market segments, market trends, and opportunities, and any further data you may need to thrive in the proton pump inhibitors industry. This proton pump inhibitors market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry
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