Healthcare Outlook
Omeprazole Market Set to Encounter Paramount Growth Till 2026
Omeprazole is a commonly prescribed proton pump inhibitor (PPI) to reduce acidity. The drug 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 healing of erosive esophagitis (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 global omeprazole market size was valued at US$ 2,668.4 million in 2017, and is expected to exhibit a CAGR of 5.2% over the forecast period (2018 – 2026).
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Increasing prevalence of peptic ulcers is expected to propel omeprazole market growth
Increasing prevalence of duodenal ulcers is expected to propel growth of the omeprazole market. According to a survey by Virtual Medical Center, 2016, peptic ulcer is the most common disease occurring in about 10-15% of the global population at a time. It is common in men and more common in elderly people. The survey further stated that duodenal ulcers are four times more common than gastric ulcers.
Also, increasing awareness activities for the treatment of gastrointestinal disorders by various organizations is a major factor bolstering market growth. For instance, the International Foundation for Functional Gastrointestinal Disorders (IFFGD), a nonprofit education and research organization helps to improve the life of people affected by chronic digestive conditions. IFFGD enhances awareness, supports research, for treating gastrointestinal disorders and educate individuals.
Increasing prevalence of H.pylori associated infection and favorable pricing policies to bolster the market growth
North America is expected to hold a dominant position in the global omeprazole market. This is owing to increasing number of people affected by H.pylori infection, which in turn is expected to increase the risk of gastric and duodenal ulcers. According to the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK), Health Information Center, 2014, about 30 to 40 percent of people in the U.S. suffer from the H. pylori infection, thus increasing the risk of duodenal and gastric development.
Key Players
Major players operating in the global omeprazole market include, Astrazeneca Plc., Sandoz, Inc., Mylan N.V., Apotex, Inc., Dr. Reddy’s Laboratories, Inc., Impax Laboratories, Inc., Perrigo Company Plc, Santarus, Inc., Watson laboratories, Inc., and Lek Pharmaceuticals d.d.
Detailed Segmentation:
Global Omeprazole Market, By Dosage Form:
Capsule
Powder
Tablet
Global Omeprazole Market, By Indication:
Duodenal Ulcer
Gastric Ulcer
Gastroesophageal Reflux Disease (GERD)
Erosive Esophagitis
Others
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