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 […]
U.S. Emerges as a Key Player in the Omeprazole Market with 5.2% CAGR
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.
Positive outcomes of omeprazole in the clinical trials in H.pylori eradication therapy is expected to propel the demand for omeprazole over the forecast period. For instance, in December 2018, RedHill Biopharma announced the Phase 3 results of Talicia capsule combining antibiotics and proton pump inhibitor omeprazole, intended for the treatment of Helicobacter pylori infection.
Market Dynamics
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, pregnant women are at a higher risk of acid reflux, with an estimated 25% pregnant women experiencing the symptoms. The survey further stated that about 20% of people with acid reflux are at a higher risk of developing gastroesophageal reflux disease (GERD). Furthermore, increase in H.pylori infection and NSAID associated gastric and duodenal ulcers are expected to bolster market growth in the near future.
Also, launch of low-cost generic versions of omeprazole is expected to fuel market growth. For instance, in 2016, Dr. Reddy’s launched generic version to Zegerid capsules (omeprazole/sodium bicarbonate) for short-term treatment of stomach and duodenal ulcers, erosive esophagitis and heartburn associated with gastroesophageal reflux disease (GERD).
Major Players Are: 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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