Rabeprazole Sodium Market Expected to Reach $895.9 Million by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Rabeprazole Sodium Market," The rabeprazole sodium market was valued at $615.72 million in 2021, and is estimated to reach $895.9 million by 2031, growing at a CAGR of 3.8% from 2022 to 2031.

Gastroesophageal reflux disease (GERD), Zollinger-Ellison syndrome, and gastric & duodenal ulcers are all conditions that are treated with rabeprazole. In addition, it can be used to heal ulcers brought on by infections brought on by the H. pylori bacterium in conjunction with medicines (such as amoxicillin and clarithromycin). A proton pump inhibitor (PPI), rabeprazole reduces the quantity of stomach acid produced. 

Increase in the elderly population as it is majorly prone to digestive disorders is one of the major drivers of the market. In addition, increase in demand for rabeprazole sodium, owing to poor eating practices and high consumption of processed, high-sodium, and ready-to-eat meals, prevalence of obesity, digestive disorders, and lifestyle-related diseases are the rabeprazole sodium market trends.

Furthermore, key strategies adopted by the key players such as Woodward Pharma and increase in awareness for rabeprazole sodium fuel the market growth. Conversely, increase in growth opportunity in emerging markets, and rise in health care expenditure are great opportunities for key players.

Depending on application, the rabeprazole sodium market analysis  is divided into gastroesophageal reflux disease, peptic ulcer, and others. The gastroesophageal reflux disease segment dominated the rabeprazole sodium market size in 2021 and is expected to witness highest CAGR during the forecast period, owing to rise in prevalence of gastroesophageal reflux disease (GERD). For instance, according to National Library of Medicine Gastroesophageal reflux disease (GERD) is the most common disorder seen in the elder population. According to an article published by National Library of Medicine, in May 2022, there were 783.95 million cases of GERD globally in 2019. Thus, rise in prevalence of gastroesophageal reflux disease (GERD) drives the segment growth.

By age, the market is segmented into below 55 years and above 55 years. The below 55 years segment dominated the rabeprazole sodium market size in 2021 and is expected to witness highest CAGR during the forecast period owing to rise in consumption of acidic food, and adoption of unhealthy lifestyle is the major factor in this age group. In addition, intake of alcohol can increase chances of heartburn in this age group further drive the market growth.

By distribution channel, the market is divided into hospital pharmacies, drug & retail store pharmacies, and online providers. The drug & retail store pharmacies segment dominated the rabeprazole sodium market share in 2021, owing to large number of patient visits to the drug & retail store pharmacies as they offer the precise drug according to status of disease of patient and easy accessibility of the facilities, The online providers segment is expected to witness highest CAGR during the forecast period owing to rise in digitalization around the globe and availability of rabeprazole sodium drug in online.

North America accounted for a majority of the global rabeprazole sodium market share in 2021, and is anticipated to remain dominant during the forecast period. This is attributed to increase in the prevalence of gastrointestinal diseases, availability of the drug, presence of key players and robust hospital infrastructure in the region. However, Asia-Pacific is anticipated to witness notable growth in rabeprazole sodium market forecast, owing to rise in geriatric population, development of healthcare infrastructure, and increase in investment projects in the region.

 Key findings of the study
•    By application, the gastroesophageal reflux disease segment was the highest contributor to the rabeprazole sodium industry in 2021.
•    By age, the below 55 years segment was the highest contributor to the rabeprazole sodium industry in 2021.
•    By distribution channel, the drug & retail store pharmacies segment was highest contributor in 2021. However, online providers segment is anticipated to grow at the highest CAGR during the forecast period.
•    Region wise, North America held the largest revenue share in 2021, whereas Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.