Proton Pump Inhibitors Market Growth, Trends, and Forecast 2019-2024 - Esomeprazole is Expected to Account for the Largest Market Share - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Apr 9, 2019--The “Proton Pump Inhibitors Market - Growth, Trends, and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
The major factors for the growth of the proton pump inhibitors market include the increasing prevalence of gastroesophageal reflux disease (GERD) and the rising acceptance of novel drug delivery systems.
Gastroesophageal reflux disease is a chronic condition, where the stomach content comes back up into the esophagus resulting in either symptoms or complications. The most frequently reported symptoms of GERD are heartburn, a burning discomfort that begins behind the breastbone and radiates to the neck and throat, and acid regurgitation, which is characterized as a bitter, sour-tasting fluid.
In addition to the increase in prevalence, people with risk factors, such as obesity, tobacco use, and others, are also increasing in almost every part of the world. Obesity, which is the major risk factor of GERD, is increasing rapidly in developed countries, such as the United States, the United Kingdom, and others. The increasing prevalence of GERD, along with the growing risk factor population, is likely to lead to the growth in the demand for proton pump inhibitors, which in turn, will drive the market. Also, the increasing shift from prescription to OTC drugs is driving the proton pump inhibitors market.
Scope of the Report
As per the scope of the report, proton pump inhibitors (PPIs) are a group of drugs, whose main action is the long-lasting reduction of gastric acid production. They are the most potent inhibitors of acid secretion available. The market studied is further segmented on the basis of drug type and geography. The drug type segmentation includes OTC and prescription drugs.
Key Market Trends
Esomeprazole is Expected to Account for the Largest Market Share in Drug Type
Nexium is one among the leading revenue generating drugs globally, and it is used to treat the symptoms of GERD, heartburn, and other disorders involving excessive stomach acids. The drug was being sold as a prescriptive drug till before 28th March 2014, the date when FDA approved it as an OTC drug.
The shift from being a prescription-only drug to being sold as an over-the-counter (OTC) drug is likely to be a major driving force for the sales of the drug in the near future. There are several benefits associated with OTC drugs, such as low price, enhanced accessibility, and no regular monitoring. As OTC drugs are sold without any prescription, the consumer need not go to any doctor for a prescription, which reduces the overall cost, and hence these drugs have the potential to increase their adoption rate.
Accessibility is another vital factor for the consumption of any medicine, and better accessibility may definitely result in more revenue. However, OTC drugs have some disadvantages as well. As they can be purchased without any prescription, anyone can buy as many as they want and leave the scope for their overuse.
Additionally, there are several minor side effects, such as nausea, headaches, dry mouth, diarrhea, allergic reaction, and others, as well as some major side effects, such as kidney disease, dementia, and others associated with its use, which can affect the adoption rate, and hence can be the restraining factors for the growth of the market.
North America Accounted for the Largest Share in the Global Market
North America holds a major share in the proton pump inhibitors market and is expected to show a similar trend over the forecast period, without significant fluctuations. There is a rising prevalence of GERD in the United States, Canada, and Mexico. Furthermore, GERD affects up to 20% of adults in the United States, therefore making the disease an important concern. Proton pump inhibitors are the widely prescribed drugs, and increased PPI use has been observed in the US ambulatory settings.
The proton pump inhibitors market is a fragmented one, owing to the presence of various players in the market. The market players are focusing on acquiring the market share by focusing on aggressive advertisements and awareness programs among the patients.
The major key players in the market include AstraZeneca, Bayer AG, Cadila Pharmaceuticals, GlaxoSmithKline PLC, Johnson & Johnson, and Pfizer.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Gastroesophageal Reflux Disease (GERD)
4.2.2 Rising Acceptance of Novel Drug Delivery Systems
4.3 Market Restraints
4.3.1 Increasing Use of Generic Products
4.4 Porter’s Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By Drug Type
5.1.1 OTC (Over-the-Counter) Drugs
22.214.171.124 Other OTC Drugs
5.1.2 Prescription Drugs
126.96.36.199 Other Prescription Drugs
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.2 Bayer AG
6.1.3 Cadila Pharmaceuticals
6.1.4 Eli Lilly and Company
6.1.5 Eisai Inc.
6.1.6 GlaxoSmithKline PLC
6.1.7 Johnson & Johnson
6.1.8 Pfizer Inc.
6.1.9 Santarus Inc.
6.1.10 Takeda Pharmaceuticals
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/58q0op
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Related Topics:Gastrointestinal Drugs
INDUSTRY KEYWORD: HEALTH PHARMACEUTICAL
SOURCE: Research and Markets
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PUB: 04/09/2019 06:35 AM/DISC: 04/09/2019 06:35 AM