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Global Omeprazole Market was Valued at US$ 2.8 Bn in 2019 and it is Expected to Reach More than US$ 4.4 Bn by 2028, Likely to Grow with the CAGR of 5.1% During the Forecast Period.
Omeprazole is a proton pump inhibitor (PPI) to reduce acidity which is approved by the regulatory agencies for the treatment of heartburn and other symptoms associated with gastroesophageal reflux disease (GERD). Omeprazole is also used to promote the healing of esophageal damage caused by stomach acid. Omeprazole is used in combination with antibiotics such as amoxicillin and clarithromycin for treating ulcers caused by the H. pylori bacteria.
The rise in awareness regarding gastrointestinal disorders in developing countries and an increase in the prevalence of peptic and duodenal ulcers are expected to propel the omeprazole market during the forecast period.
Increasing In prevalence of acid related diseases (ARDs) and H.pylori associated infection is anticipated to Drive the demand for Omeprazole
Increasing prevalence of acid-related diseases (ARDs) including gastroesophageal reflux disease (GERD) is a major factor driving omeprazole market growth. According to the research survey conducted by Florida Hospitals, 2015, stated that about 20% of people with acid reflux are at a higher risk of developing gastroesophageal reflux disease (GERD). Furthermore, an increase in H.pylori infection and NSAID associated gastric and duodenal ulcers are expected to bolster market growth in the near future.
Also, attractive discount programs offered by various online portals to provide a cost-effective option for the prescription product is expected to fuel market growth.
However, side effects associated with omeprazole are likely to hamper the omeprazole market during the forecast period.
The Duodenal Ulcers Segment is Expected to Dominate The Omeprazole Market During the Forecast Period
On the basis of Indication, the duodenal ulcer segment was the largest segment in 2019 accounted for over XX% of the global revenue share of the Omeprazole market due to high prevalence of these ulcers across the globe. The segment is expected to continue to
Hospital Pharmacies Segment Held A Significant Share In Global Omeprazole Market In 2019
In 2018, the hospital pharmacies segment accounted for more than 60 % share in the global Omeprazole market and is anticipated to expand at a XX% CAGR during the forecast period due to the easy availability of medications in hospitals. The segment is expected to continue to expand in the omeprazole market from 2019 to 2028.
North America Is Expected to Dominate the Omeprazole Market During the Forecast Period
North America accounted for over XX% of the global revenue share of the Omeprazole market in 2019 and this trend is expected to register significant growth during the forecast period. The increase in incidences of H.pylori infection, which causes ulcers. Peptic ulcer disease (PUD) affects approximately 4.5 million people in the U.S. annually. Approximately 10% of the U.S. population suffers from duodenal ulcer. These factors are driving the demand for Omeprazole in regional market.
The Asia-Pacific Region Is Projected to Register a Substantial Growth In The Omeprazole Market during the Forecast Period
The Asia Pacific accounted for over XX% of global revenue share in 2019 and is expected to be the fastest-growing region at a CAGR of over 5.3% during the forecast period owing to the rise in prevalence of H.pylori infection.
Some of the key players operating in the global Omeprazole market are Zydus Cadila, Sandoz International GmbH, Apotex Inc., AstraZeneca, Dr. Reddy’s Laboratories Ltd., Perrigo Company plc, Impax Laboratories, LLC, Mylan N.V., Apotex, Inc., Santarus, Inc., Watson Laboratories, Inc., and Lek Pharmaceuticals d.d.
Omeprazole Market Key Segments:
Omeprazole Market, By Indication
- Duodenal Ulcer
- Gastric Ulcer
- Gastroesophageal Reflux Disease (GERD)
- Erosive Esophagitis
Omeprazole Market, By Dosage Form
Omeprazole Market, By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
Omeprazole Market, By Region
- North America
- Asia Pacific
- Middle east and Africa
- Latin America