Overview and Scope
The omeprazole market consists of sales of delayed-release capsules, oral disintegrating tablets, and oral suspensions. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Sizing and Forecast
The omeprazole market size has grown strongly in recent years. It will grow from $2.17 billion in 2023 to $2.34 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to reimbursement policies, transition of patients and healthcare providers from H2 blockers to proton pump inhibitors, educational campaigns raising awareness about the benefits of omeprazole therapy, Government spending on healthcare infrastructure and services, and health literacy initiatives.
The omeprazole market size is expected to see strong growth in the next few years. It will grow to $3.15 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to government interventions to control drug prices affecting profitability, disruptions in the pharmaceutical supply chain affecting omeprazole availability and pricing, personalized treatment approaches, increasing consumer awareness and preference for self-care products and changes in disease patterns and prevalence rates affecting the demand for omeprazole. Major trends in the forecast period include development of gene editing technologies, advancements in pharmacogenomics, adoption of telemedicine, integration of digital health technologies and expansion of online platforms.
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Segmentation & Regional Insights
The omeprazole market covered in this report is segmented –
1) By Dosage Form: Capsule, Powder, Tablet
2) By Indication: Duodenal Ulcer, Gastric Ulcer, Gastroesophageal Reflux Disease, Erosive Esophagitis, Other Indications
3) By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies
North America was the largest region in the omeprazole market in 2023. The regions covered in the omeprazole market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increased incidence of gastric cancers is expected to propel the growth of the omeprazole market going forward. Gastric cancers refer to malignancies that originate in the lining of the stomach. The increased incidence of gastric cancers is due to chronic helicobacter pylori infection, heavy alcohol consumption, genetic predisposition, chronic gastritis, obesity, and geographical variations in prevalence. Omeprazole, a proton pump inhibitor, helps manage gastric cancers by reducing stomach acid production, which can alleviate symptoms, improve quality of life, and support healing ulcers or lesions in the stomach lining. For instance, in January 2023, according to the American Cancer Society (ACS), a US-based health organization dedicated to eliminating cancer, gastrointestinal cancers increased by 3.18% to 348,840 compared to 338,090 in 2021 in the United States. Therefore, the increased incidence of gastric cancers is driving the omeprazole market.
Key Industry Players
Major companies operating in the omeprazole market are Pfizer Inc., AstraZeneca plc, Novartis AG, Viatris Inc., Teva Pharmaceutical Industries Ltd., Sandoz Group AG, Fresenius Kabi, Macleods Pharmaceuticals Pvt Ltd., Perrigo Company plc, Sun Pharmaceutical Industries Ltd., Intas Pharmaceuticals Ltd., Aurobindo Pharma, Dr. Reddy’s Laboratories, Cipla, Apotex Inc., Amneal Pharmaceuticals, Lupin Limited, Glenmark Pharmaceuticals Ltd., Alkem Laboratories Ltd., Torrent Pharmaceuticals, Jubilant Generics Limited, Accord Healthcare, Hetero Healthcare Limited, Zydus Cadila, Ranbaxy Laboratories Limited
The omeprazole market report table of contents includes:
1. Executive Summary
2. Omeprazole Market Characteristics
3. Omeprazole Market Trends And Strategies
4. Omeprazole Market – Macro Economic Scenario
5. Global Omeprazole Market Size and Growth
…
32. Global Omeprazole Market Competitive Benchmarking
33. Global Omeprazole Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Omeprazole Market
35. Omeprazole Market Future Outlook and Potential Analysis
36. Appendix
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