Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Global Omeprazole Market, by Dosage Form (Capsule, Powder, and Tablet), by Indication (Duodenal Ulcer, Gastric Ulcer, Gastroesophageal Reflux Disease (GERD), Erosive Esophagitis, and Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 2,668.4 million in 2017, and is projected to exhibit a CAGR of 5.2% during the forecast period (2018 – 2026).
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Launch of cost-effective generics by the market players to augment the market growth
The global omeprazole market is expected to witness significant growth during the forecast period attributed to the increasing incidence of gastric ulcers caused due to H.pylori infection and Nonsteroidal Anti-Inflammatory Drugs (NSAID) use. According to the study by Deccan College of Medical Sciences, 2016, an estimated 95% of duodenal and 70% of gastric ulcers are attributed due to Helicobacter pylori. Furthermore, the study also stated that around 14-25% of gastric and duodenal ulcers are associated with NSAID use. Furthermore, developers are focusing on approval and launch of cost-effective generic versions of omeprazole in order to enhance market sales. For instance, in July, 2017, Breckenridge Pharmaceutical, Inc. received the U.S. Food and Drug Administration (FDA) approval of abbreviated new drug application (ANDA) for Omeprazole delayed-release capsules. The drug will be manufactured and supplied by parent company- Laboratorios Dr. Esteve, S.A., Spain.
Browse 22 Market Data Tables and 24 Figures spread through 138 Pages and in-depth TOC on “Omeprazole Market”- Global Forecast to 2026, by Dosage Form (Capsule, Powder, and Tablet), by Indication (Duodenal Ulcer, Gastric Ulcer, Gastroesophageal Reflux Disease (GERD), Erosive Esophagitis, and Others), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Gastroesophageal reflux disease (GERD) is a chronic digestive disorder where the stomach acid enters the esophagus causing inflammation. The condition results in a long-lasting and serious form of acid reflux. According to the National Institute of Diabetes and Digestive and Kidney Diseases, in 2014, an estimated 15.1 to 30% of the U.S. population was diagnosed with GERD. Moreover, According to the Department of Gastroenterology, Cedars-Sinai Medical Center, 2014, over nine million primary care visits in the U.S. are attributed to GERD annually, making it the most common gastroenterology-related outpatient diagnosis disease in the country. The market players are focused on developing treatment to offer heartburn relief by implementing innovative technologies. For instance, in April, 2018, Perrigo Company plc. and Dexcel Pharma Technologies, Ltd. launched Omeprazole delayed release orally disintegrating tablets (ODT) 20mg, with innovative MelTech melt-in-your-mouth technology for treating frequent heartburn. The innovative technology provides an affordable option in the OTC category.
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Key Takeaways of the Omeprazole Market:
- The global omeprazole market is expected to exhibit a CAGR of 5.2% during the forecast period owing to the increasing prevalence of peptic ulcers and related diseases as well as approval of generic versions of drugs by regulatory agencies. For instance, in 2016, Perrigo Company plc. received the U.S. FDA approval for omeprazole and launched a brand equivalent to Zegerid OTC capsules. Zegerid OTC is indicated for the treatment of frequent heartburn.
- Among distribution channel, the online pharmacy segment is expected to holds a dominant position in the omeprazole market in 2026 owing to the higher amount of discount coupons granted for the generic and OTC omeprazole drugs.
- Some of the 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.
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