Proton Pump Inhibitors Market Size, Share, Growth Analysis, By Drug Type (Esomeprazole, Omeprazole), By Route of Administration (Oral, Injectable), By Dosage Form, By Prescription, By Indication, By Region - Industry Forecast 2024-2031

Global Proton Pump Inhibitors Market size was valued at around USD 4.65 billion in 2022 and is expected to rise from USD 4.90 billion in 2023 to reach a value of USD 7.35 billion by 2031, at a CAGR of 5.2% over the forecast period (2024–2031).

The global proton pump inhibitors market is a highly competitive global market driven by many international competitors. Prominent corporations with cutting-edge AI and ML technology are Google, IBM, Microsoft, and NVIDIA. To support a wide range of applications across industries, these industry experts concentrate on creating cutting-edge algorithms, scalable platforms, and reliable infrastructure. Rapid advances in technology, strategic alliances, and large expenditures on research and development define the competitive environment. 'AstraZeneca (UK) ', 'Pfizer Inc. (USA) ', 'Takeda Pharmaceutical Company (Japan) ', 'Bayer AG (Germany) ', 'GlaxoSmithKline plc (UK) ', 'Dr. Reddy's Laboratories Ltd. (India) ', 'Teva Pharmaceutical Industries Ltd. (Israel) ', 'Sun Pharmaceutical Industries Ltd. (India) ', 'Sanofi S.A. (France) ', 'Pharma Dynamics (Pty) Ltd. (South Africa) ', 'AbbVie Inc. (USA) ', 'Lupin Limited (India) ', 'Eisai Co., Ltd. (Japan) ', 'Cadila Healthcare Ltd. (Zydus Cadila) (India) ', 'Cipla Ltd. (India) ', 'Merck & Co., Inc. (USA) ', 'F. Hoffmann-La Roche Ltd. (Switzerland) ', 'Torrent Pharmaceuticals Ltd. (India) ', 'RedHill Biopharma Ltd. (Israel) ', 'Sumitomo Dainippon Pharma Co., Ltd. (Japan)'

The market is witnessing the growth of newer proton pump inhibitors. Modernizations in drug formulations like extended-release formulations and enhanced delivery systems, improve the safety and efficacy profiles of PPIs. In addition, the development of combination medicines that can be used with PPIs with different therapeutic agents for better treatment of complex conditions.

Introduction of Alternatives and New Formulations: Novel formulations and delivery systems are currently under development to enhance efficiency and decrease side-effects. For example, combination therapies or delayed release. Research teams are also discovering substitute therapies like prokinetic agents, H2-receptor antagonists, and many dietary modifications to better manage acid-associated conditions. The introduction of such alternatives is trending in the proton pump inhibitors market.

Geographically, North America is the dominating region among others and is expected to lead over the forecast period owing to the increased cases of gastrointestinal disorders, including peptic ulcers, GERD. These conditions are commonly reported in North America, driving the regional growth. Moreover, the region holds comparatively better healthcare infrastructure with easy access to medications and treatments like PPIs. Also, the region is a hub for many research institutes and pharmaceutical companies that propel product availability and innovations in PPIs. Heavy spending and investments in healthcare are also aiding the use of improved and costly treatments, such as PPIs. The market players operating in the region include AstraZeneca, Pfizer, Takeda Pharmaceuticals, Novartis, Teva Pharmaceuticals, Sun Pharmaceutical Industries, and more.