The global proton pump inhibitors market in anticipated to showcase a considerable CAGR during the forecast period. The significant increase in the number of GERD symptoms due to an increase in the number of cases of obesity in the developed nation- such as the US and the UK is a key factor contributing towards the growth of the proton pump inhibitors market across the globe. Obesity is a chronic disease that leads to diabetes, cancer, uncertain death and cardiovascular diseases. According to the Global Burden of Diseases, obesity is one of the leading factors responsible for premature death and has 4.7 million deaths across the globe in 2017. Around 8.0% of mortality was attributed to obesity in 2017 across the globe.
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More than 13% of adults are obese and 39% of adults are overweight globally. The increasing prevalence of obesity is the largest concern in communities across the globe and boosts the growth of the proton pump inhibitors market over the forecast period. According to the State of obesity, 1 in 3 adults and 1 in 6 children are obese in the US. This chronic disease is highly emerging in the age group of the young population. Moreover, the increase in cases of esophageal and gastrointestinal infected people is further creating the demand for PPI kits.
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Rising in the number of the older population is also one of the major driving factors to drive market growth as the older population has a high risk of being affected by gastrointestinal problems. According to the WHO, the geriatric population is expected to get double by 2050, when compared to 2000. Globally, in 2000, the proportion of the people aged over 65 years were 11.0% of the global population, and these statistics are expected to reach 22.0% by 2050. Around 20% are affected due to GERD in the older population, hence it is an important concern.
Furthermore, this leads to an increase in PPI which is widely prescribed drugs. Moreover, the ongoing technological advancement and intensive R&D of esomeprazole drugs are promoting the kit manufacturers to increase the production of medicines due to the rise in demand for OTC drugs across the globe. GERD affects all age group people, where people with asthma have a higher risk of developing GERD. In this treatment, the medicines are prescribed orally, in the form of tablets and capsules and PPI’s treatment is rapidly increasing due to lower risk of side effects. Moreover, the increase in the number of peptic ulcers, gastric acid problems and rising demand for novel delivery system accelerating the proton pump inhibitors market growth.
Proton pump inhibitors market Segmentation
By Type
- Esomeprazole
- Omeprazole
- Pantoprazole
- Rabeprazole
- Lansoprazole
- Other
By Application
- Clinics
- Hospitals
- Other
