SEATTLE–(BUSINESS WIRE)–According to Coherent Market Insights, the global proton pump inhibitors market is estimated to be valued at US$ 2.9 billion in 2020 and is expected to exhibit a CAGR of 4.30% over the forecast period (2020-2027).
Key Trends and Analysis of the Global Proton Pump Inhibitors Market:
Increasing number of product approvals of proton pump inhibitors by key companies for treatment of heartburn, hyperacidity and GERD is expected to drive growth of the proton pump inhibitors market. For instance, in March 2020, Cipla Limited, an Indian multinational pharmaceutical company, received approval for the generic Esomeprazole for oral suspension by US Food Drug and Administration for treatment of gastroesophageal reflux disease in adults.
Moreover, pharmaceutical companies are focusing on strategic partnerships and collaborations for development of novel medications for treatment of gastro-intestinal diseases. These factors are expected to drive the global proton pump inhibitor market growth. For instance, in May 2019, Takeda Pharmaceutical Co. Ltd and Frazier Healthcare Partners, a privately held equity firm, launched a biopharmaceutical company called Phathom Pharmaceuticals to focus on medical therapies for gastrointestinal (GI) diseases related to acid in the U.S. and Europe.
Among regions, Asia Pacific is expected to witness significant growth during the forecast period due to product approvals and launches, which is expected to drive growth of the proton pump inhibitors market in Asia Pacific. For instance, in July 2020, Cadila Pharmaceuticals Limited, a privately-held pharmaceutical companies of India, launched Esiloc (esomeprazole) oral tablets for treatment of hyperacidity and drug induced gastritis.
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Key Market Takeaways:
The global proton pump inhibitors market is expected to exhibit a CAGR of 4.30% during the forecast period owing to product launches. For instance, in March 2020, RedHill Biopharma Ltd (ADR), a specialty bio-pharmaceutical company focused on gastrointestinal diseases, launched Talicia (omeprazole magnesium, amoxicillin and rifabutin) delayed released tablets for treatment of infections caused by Helicobacter pylori (H. pylori) in adults.
Key players operating in the global proton pump inhibitors market are AstraZeneca PLC/AB, Bayer AG, Pfizer Inc., Cadila Pharmaceuticals Limited, Eisai Pharmaceuticals India Pvt. Ltd, Santarus, Inc., Wyeth, LLC, Janssen Pharmaceutica, Takeda Pharmaceutical Company Limited, Sanofi S.A, Aurobindo Pharma, Perrigo Company plc, Dr. Reddy’s Laboratories, Aralez Pharmaceuticals Inc., RedHill Biopharma Ltd (ADR) and Cipla Limited.
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Global Proton Pump Inhibitor Market, By Type:
Global Proton Pump Inhibitor Market, By Disease Indication:
- Gastroesophageal Reflux Disease
Global Proton Pump Inhibitor Market, By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
Global Proton Pump Inhibitor Market, By Region:
- Rest of Latin America
- Rest of Europe
- South Korea
- Rest of Asia Pacific
- Rest of Middle East
- South Africa
- Central Africa
- North Africa
- North America
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Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.