Proton Pump Inhibitors (PPIs) Market to grow at a CAGR of 4.86% during 2024-2028
The Proton Pump Inhibitors (PPIs) Market is expected to grow at a CAGR of 4.86% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 807.89 million. The aging population represents a significant growth opportunity for the global Proton Pump Inhibitors (PPIs) market. With the natural aging process comes a relaxation of the lower esophageal sphincter, allowing stomach acid to reflux and cause heartburn. Additionally, the digestive system's functionality may decline, leading to increased acidity. Gastroesophageal Reflux Disease (GERD), a common cause of heartburn, also becomes more prevalent with age. Consequently, the expanding aging demographic significantly contributes to the market expansion for PPIs.
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Technavio analysts predict that the OTC PPIs subsegment will lead the Product segment during 2024 and 2028 In the pharmaceutical industry, Over-the-Counter (OTC) medications hold a significant market share due to their easy accessibility and affordability for consumers. Specifically, in the Proton Pump Inhibitors (PPIs) market, OTC PPIs, such as PREVACID, NEXIUM, PRILOSEC, and Zegerid, have gained popularity for their effectiveness in treating frequent heartburn. These OTC PPIs function by inhibiting gastric acid secretion in the stomach, providing relief for consumers. The US Food and Drug Administration (FDA) approves their use for up to 14 days per episode and a maximum of three episodes per year. The convenience and affordability of OTC PPIs contribute to their widespread utilization among patients.
Here are the various ways based on which the market is segmented:
There are several factors that are causing the market to flourish reformulation of drugs
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Title: Proton Pump Inhibitors Market: Addressing the Health Needs of an Aging Population and Stress-induced Gastrointestinal Disorders The global Proton Pump Inhibitors (PPIs) market is witnessing significant growth due to the increasing prevalence of acid-related disorders, such as heartburn, peptic ulcers, and gastroesophageal reflux disease (GERD), among others. Factors contributing to this trend include an aging population, sedentary work cultures, unhealthy diets, and stress. These conditions are linked to increased acid secretion in the stomach, which can lead to various gastrointestinal health issues. Pharmaceutical solutions, including injectable and oral PPIs like Dexlansoprazole, Pantoprazole, Rabeprazole, Esomeprazole, Lansoprazole, and others, play a crucial role in managing acid-related disorders. With the rising demand for effective treatments, healthcare investment in the development of personalized medicine approaches and drug formulations tailored to individual needs is on the rise. Acid-suppressing medications, such as PPIs, help reduce stomach acid production by inhibiting the gastric proton pump. Common indications for PPI use include acid-related disorders like GERD, peptic ulcers, and Zollinger-Ellison syndrome. As poor dietary choices and stress continue to impact gastrointestinal health, the market for PPIs is expected to grow steadily in the coming years.
According to Technavio, the global Proton Pump Inhibitors (PPIs) market is a significant segment of the expansive global pharmaceuticals industry, which encompasses entities involved in the research and development (R&D) or manufacturing of various pharmaceutical offerings, including generic and non-generic drugs, veterinary drugs, and biotechnology products. The healthcare industry's overall market size is determined by Technavio through the consolidated revenue generated by providers of equipment, supplies, pharmaceuticals, and life sciences tools and services. The growth of the global pharmaceuticals market will be fueled by several factors, including the increasing global population aging above 60 years, leading to a substantial rise in the demand for healthcare and pharmaceutical solutions.
The Proton Pump Inhibitors (PPIs) Market is experiencing significant growth, fueled by the reformulation of drugs. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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