Lansoprazole is a proton pump inhibitor drug, which prevents the stomach from producing gastric acid to facilitate treatment of various gastric disorders. Proton pump inhibitors work on the mechanism of action, where these act by inhibiting the proton pump, which is the pivotal area for secretion of H+ ions in the gastric lumen. Proton pump inhibitors form a covalent bond with proton pump, deactivating it, leading to lack of H+ ions secretion in the gastric lumen, thereby inhibiting the production of gastric acid. Lansoprazole is different from other drug classes available for treatment of gastroesophageal reflux disease such as antacids, which act by neutralizing the acid secreted in the stomach. Lansoprazole acts on this mechanism to treat gastroesophageal reflux disease (GERD), which is characterized by the backward flow of gastric acid from the stomach, leading to symptoms such as heartburn and acidity. The products are available as prescription brands and over-the-counter drugs (OTC) in various forms.
The global lansoprazole market is primarily driven by increase in incidence of gastroesophageal reflux disease (GERD), gastric ulcers, duodenal ulcers, and other gastric diseases. Rise in demand for proton pump inhibitors and ongoing clinical trials for the evaluation of new formulations of lansoprazole aimed at increasing the efficiency of the drug are the other factors expected to drive the global lansoprazole market during the forecast period. However, new drug classes being introduced in the market for the treatment of gastric diseases such as H2 blockers, antacids, and others, and increase in patient preference for these drug classes that offer immediate relief from gastroesophageal reflux disease are expected to restrain the global lansoprazole market during the forecast period.
The global lansoprazole market can be segmented based on route of administration, mode of action, distribution channel, and region. In terms of route of administration, the global market can be bifurcated into oral and intravenous. The oral segment dominated the global lansoprazole market in 2016 owing to higher preference for capsule formulations by patients suffering from mild to moderate gastroespophageal reflux disease, low cost of oral capsules, and increase in number of manufacturers in the global market offering lansoprazole in capsule formulations. Based on mode of action, the global lansoprazole market can be categorized into immediate release and sustained release. The immediate release segment dominated the global lansoprazole market in 2016 due to rise in incidence of acute gastroesophageal reflux disease and low cost of the drugs. However, rise in prescription base for sustained release lansoprazole along with increase in number of manufacturers offering products in this segment is expected to drive the sustained release segment during the forecast period. In terms of distribution channel, the global lansoprazole market can be divided into hospital pharmacies, online pharmacies, and retail pharmacies & drug stores. The retail pharmacies & drug stores segment dominated the market in 2016, owing to increase in number of over-the-counter brands of lansoprazole and ease of access of patients toward retail pharmacies for treatment of mild to moderate gastroesophageal reflux diseases (GERD).
The global lansoprazole market can be segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global market in 2016 due to increase in incidence of GERD in the U.S. and higher demand for sustained release proton pump inhibitor drugs in the region. According to the World Gastroenterology Organisation, in 2015, prevalence of GERD ranged from 2.5% to 6.6% in Eastern Asia and 13.8% to 25.8% in North America.
Key players operating in the global lansoprazole market include Teva Pharmaceutical Industries Ltd., Takeda Pharmaceutical Company Limited, Perrigo Company plc, and Sun Pharmaceutical Industries Ltd.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.