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% over the forecast period (2018 – 2026), as highlighted in a new report published by Coherent Market Insights.
Launch of cost-effective generics by the market players to augment the market growth
The global omeprazole market is expected to witness significant growth over the forecast period attributed to 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) To know the latest trends and insights prevalent in the omeprazole market, click the link below:
Gastroesophageal reflux disease (GERD) is a chronic digestive disorder where the stomach acid enters esophagus, causing inflammation. The condition results in a long-lasting and serious from of acid reflux. According to the National Institute of Diabetes and Digestive and Kidney Diseases, 2014, an estimated 15.1 to 30 percent of the U.S. population is 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.
Key Takeaways of the Omeprazole Market:
About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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