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Omeprazole Market: Introduction

  • Omeprazole, a drug belonging to proton pump inhibitors (PPIs) class, is used to decrease the amount of acid produced in the stomach. It was discovered in 1979 and appears on the World Health Organizations’ List of Essential Medicines. According to the NHS Business Services Authority (NHSBSA) statistics, over 2 million items of omeprazole were prescribed in the U.K. in March 2018 alone. It is one of the most widely prescribed medications across the globe. According to drug usage statistics published by ClinCalc, the number of omeprazole prescription in the U. S. increased from 26 million to 70 million from 2006 to 2019.
  • Omeprazole is utilized alone or prescribed in combination with other medications. It is used to treat gastroesophageal reflux disease (GERD), ulcers, and other conditions caused due to excessive stomach acid. Frequent flow of stomach acid into the esophagus, which irritates the lining of esophagus, can cause GERD. Omeprazole is employed with other medications in the treatment of infections caused by H. pylori bacteria.

Key Drivers, Restraints, and Opportunities of Global Omeprazole Market

  • Rising cases of duodenal ulcers is anticipated to fuel the omeprazole market. As per the survey by Virtual Medical Centre, 2016, peptic ulcer is a highly common disease, occurring in about 10% to 15% of the global population at a time. It is common in geriatric patients. The survey also stated that duodenal ulcers are four times more common than gastric ulcers. Furthermore, rising awareness activities for the treatment of gastrointestinal disorders by various organizations is a major factor propelling the market. For instance, the International Foundation for Functional Gastrointestinal Disorders (IFFGD), a non-profit education and research organization supports to improve the life of people affected by chronic digestive conditions. IFFGD improves awareness and supports research for the treatment of gastrointestinal disorders and educate individuals. Positive outcomes of omeprazole in the clinical trials in H.pylori eradication therapy is anticipated to boost the demand for omeprazole during 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 for the treatment of Helicobacter pylori infection.
  • The common side-effects of omeprazole include stomach pain, flatulence, nausea, vomiting, diarrhea, and headache. Increase in prevalence of peptic and duodenal ulcers and awareness about gastrointestinal disorder in developing countries is expected to propel the omeprazole market during the forecast period. Side-effects associated with omeprazole are likely to hamper the omeprazole market during the forecast period.

North America to Capture Major Share of Global Omeprazole Market

Based on region, the global omeprazole market can be categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global market in 2020 due to the increase in incidences of H.pylori infection, which causes ulcers. Peptic ulcer disease (PUD) affects approximately 4.5 million people in the U.S. annually. Approximately 10% of the U.S. population suffers from duodenal ulcer. The market in Asia Pacific is anticipated to expand at a substantial CAGR owing to a rise in prevalence of H.pylori infection in the region.

Furthermore, attractive discount programs offered by various online portals to delivers a cost-effective option for the prescription product is anticipated to propel the market. For instance, SingleCare, an online service for prescriptions, partners with major pharmacies in the U.S. and assists patients to save around 80% on prescription cost, thereby providing access to affordable treatment. Additionally, generic omeprazole is covered by most Medicare and insurance plans.

Key Players Operating in Global Omeprazole Market

The global omeprazole market is highly fragmented, with the presence of various key players. A large number of manufacturers hold a major share in their respective regions. Major players operating in the global omeprazole market 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.
  • Lek Pharmaceuticals d.d.
  • Aurobindo Pharma Limited
  • Amneal Pharmaceuticals LLC,
  • Salix Pharmaceuticals
  • Spansules Pharma
  • Systacare Remedies
  • Sainor Laboratories
  • Allergan plc.
  • Others

Global Omeprazole Market: Research Scope

Global Omeprazole Market, by Dosage form

  • Capsule
  • Powder
  • Tablet
  • Suspension.

Global Omeprazole Market, by Indication

  • Duodenal ulcers
  • Gastric ulcers
  • GERD
  • Erosive esophagitis
  • Others

Global Omeprazole Market, by Distribution Channel

  • Hospital pharmacies
  • Retail pharmacies
  • Online pharmacies
  • Others

Global Omeprazole Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

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
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

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.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

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?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across 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.

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Omeprazole Market