Proton pump inhibitors are a group of medicines that reduces the gastric acid secretion in the linings of the stomach. They block the enzyme process in the gastric system that actively transports gastric acid from parietal cells to the gastrointestinal lumen in the form of hydrogen–potassium adenosine triphosphate (proton pump). Proton pump inhibitors are used to relieve the symptoms of gastro-esophageal reflux diseases (GERD), peptic ulcers, dyspepsia, gastritis, and other gastrointestinal disorders. The medicines are administered orally, and they are available in the form of capsules and tablets. Proton pump inhibitors are among the most widely used medications, due to fewer side effects.
Increasing acceptance of novel drug delivery systems and rising prevalence of peptic ulcer and other gastro-intestinal disorders are driving the proton pump inhibitors market considerably. Consumers in isolated regions tend to prefer the common antacids to deal with ulcer & gastro-intestinal disorders, which restrains the proton pump inhibitors market. Also, the increasing use of generic drugs in the proton pump inhibitors market can hamper the growth of the market. Increasing consumer acceptance of novel drug delivery systems and launching of new products is always an opportunity for the proton pump inhibitors market.
The proton pump inhibitors market can be segmented according to drug types. They are Omeprazole, Rabeprazole, Pantoprazole, Lansoprazole, Dexlansoprazole, Esomeprazole, and Others. Esomeprazole is the most widely prescribed drug for gastric ulcer in the proton pump inhibitors market. The segment dominated the proton pump inhibitors market in 2015 attributed to its potency, efficacy, and its wide distribution in the market. Dexlansoprazole & Rabeprazole were the second most widely prescribed medication types after Esomeprazole in 2015. Omeprazole is estimated to gain higher share during the forecast period, which is attributed to its availability in generic and over-the-counter form, and its cost-effectiveness. The patent license of drug Nexium (Esomeprazole) expired in the year 2015, which is the major reason for the likely domination of Omeprazole & Lansoprazole in the proton pump inhibitors market during the forecast period.
Overall, the market share of non-generic drugs has declined while the value of the generic drug market is expected to rise which can propel the proton pump inhibitor market. Continued usage of generic drugs of the Omeprazole segment is expected to raise the market share, which can surpass Nexium drug segment during the forecast period.
Geographically, the proton pump inhibitors market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America had the dominant market share in 2015, which is attributed to increase in prevalence of gastrointestinal disorders in the region and consistent launch of new products. However, the Asia Pacific market is estimated to grow at a higher CAGR by 2016- 2024. The Asia Pacific market is flooded with many gastrointestinal drug products and there is a large patient pool with gastro intestinal problems. This can create a need for curative drugs and this is anticipated to drive the proton pump inhibitors market in the region remarkably.
The major players in the proton pump Inhibitors market are AstraZeneca, Takeda Pharmaceuticals, Wyeth Pharmaceuticals, Eisai Pharmaceuticals India Pvt. Ltd., Teva Pharmaceuticals, Cadila Pharmaceuticals, Pfizer, Eli Lilly and Company, and Janssen Global Services, LLC. Consistent launching of new products is the strategy followed by key players to deal with the competition in the proton pump inhibitors market.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.