Press release
Rabeprazole Sodium Market to Surge at a Robust Pace in Terms of Revenue Over 2031
The global rabeprazole sodium market is expected to expand at a healthy rate from 2021 to 2031 (forecast period). The rise in awareness of the advantages of rabeprazole sodium and the spike in demand for proton pump inhibitors is projected to boost the global rabeprazole sodium market during the forecast period. Moreover, the surge in gastroesophageal reflux disease (GERD) and ulcer cases is anticipated to contribute to the expansion of the global rabeprazole sodium market. Furthermore, the global rabeprazole sodium market is expected to witness considerable growth post-COVID-19 pandemic.
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Rabeprazole Sodium Market - Competitive Landscape
Leading players in the rabeprazole sodium market are ASN Corporation, Intas, Smaart Pharmaceuticals, Sterile India, Zhejiang Yongtai Technology, Jubilant Pharma, Enal Drugs Private Limited, Shanghai Pharma Group Changzhou Kony Pharmaceutical, SYN-TECH CHEM. & PHARM. CO., LTD., and JSN Chemicals.
Market players are using a variety of key approaches to increase their market share. For example, on November 4, 2020, SOFIE Biosciences, Inc. ("SOFIE"), a prominent radiopharmaceutical supplier and worldwide radiopharmaceutical contract manufacturing firm, established a strategic arrangement with Jubilant Radiopharma, a business division of Jubilant Pharma Limited. Jubilant Pharma will be a strategic ally to SOFIE, with a 25% ownership stake in one of its wholly-owned subsidiaries, enabling SOFIE to develop its theranostic pipeline, broaden manufacturing capacity, and assist novel PET diagnostic manufacturing and distribution in the US, as per the terms of the agreement.
Rabeprazole Sodium Market - Trends and Opportunities
One of the primary factors expected to drive the growth of the global rabeprazole sodium market is the rising incidence of gastrointestinal illnesses. Rabeprazole sodium is a proton pump inhibitor utilized to treat gastrointestinal conditions such as Zollinger-Ellison syndrome, peptic ulcer disease, and gastroesophageal reflux disease (GERD). As a result, the demand for rabeprazole sodium products is projected to rise, propelling the global rabeprazole sodium market.
As per research released by the NCBI, it is expected that 10% to 15% of individuals suffer from GERD at some point in their lives. According to the same study, about one out of every five children and teenagers in Australia, Canada, and the United States have been afflicted with this illness. As a result, rabeprazole sodium is in high demand worldwide for treating GERD and other acid-related diseases such as Cronic disease and ulcerative colitis and esophageal illnesses such as Zollinger-Ellison syndrome.
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Moreover, the worldwide elderly population is rapidly increasing, which is expected to boost the sales of rabeprazole sodium market in the next years. Since the elderly are more likely to experience gastrointestinal issues, they require therapy with proton pump inhibitors like rabeprazole sodium. This is anticipated to create revenue-generation opportunities in rabeprazole sodium market during the forecast period.
In addition, the rabeprazole sodium monohydrate segment is likely to experience growth in the global rabeprazole sodium market. The rabeprazole sodium monohydrate segment is expected to grow due to rising demand from the healthcare and pharmaceutical industries.
Rabeprazole Sodium Market - Regional Landscape
The North America rabeprazole sodium market is projected to expand during the forecast period. This is due to strong awareness about HIC and its treatment, soaring healthcare expenditure by the government and other organizations, and the presence of effective treatment methods. Moreover, a better reimbursement scenario for medical treatments and key manufacturers in the region is expected to boost the regional market growth.
The Asia Pacific rabeprazole sodium market is anticipated to grow during the projection period as the incidence of gastroesophageal reflux disease (GERD) rises, and patients become more aware of potential treatment choices.
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