Report ID: SQMIG35B2218
Report ID:
SQMIG35B2218 |
Region:
Global |
Published Date: November, 2024
Pages:
196
|
Tables:
66 |
Figures:
70
Proton Pump Inhibitors Market size was valued at USD 4.9 Billion in 2023 and is poised to grow from USD 5.15 Billion in 2024 to USD 7.73 Billion by 2032, growing at a CAGR of 5.2% during the forecast period (2025-2032).
As the name suggests, proton pump inhibitors or PPIs are a class of drugs that essentially treat the gastrointestinal conditions, such as peptic ulcers, Zollinger-Ellison syndrome, and gastroesophageal reflux disease (GERD). The market is engaged in offering medications that lessen or control stomach acid by preventing proton pumps inside stomach lining. The incidences of acid-associated illnesses are increasing on the global scale, thus driving the demand for OTC PPIs. The market is further impacted by the increasing geriatric population and improvements in drug formulations. Nonetheless, patent expirations resulting in increased generic competition, regulatory concerns, and possible side-effects of PPIs caused due to prolong use are hampering the growth of the market. Yet, the market is opportune to improvements in drug formulations, integration of digital health, and inclination towards self-medications.
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Report ID: SQMIG35B2218