Omeprazole Market to Reap Excessive Revenues by 2026

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 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 2016. Omeprazole is used 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 used with other medications in treatment of infections caused by H. pylori bacteria. The common side effects of omeprazole include tomach pain, flatulence, nausea, vomiting, diarrhea, and headache. Increase in prevalence of peptic and duodenal ulcers and rise in awareness regarding gastrointestinal disorder in developing countries are 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.

The global omeprazole market can be segmented based on dosage form, indication, distribution channel, and region. In terms of dosage form, the omeprazole market can be classified into capsule, powder, tablet, and suspension. The tablet segment held a dominant share of the market in 2017 and is expected to continue this trend during the forecast period, as tablets are inexpensive, easy to handle, and coated with sugar to mask the unpleasant taste.

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Based on indication, the global omeprazole market can be segregated into duodenal ulcers, gastric ulcers, GERD, erosive esophagitis, and others. The duodenal ulcers segment dominated the market in 2017 due high prevalence of these ulcers across the globe. The segment is expected to continue to account for a large share of the omeprazole market during the forecast period. In terms of distribution channel, the global omeprazole market can be divided into hospital pharmacies, retail pharmacies, and online pharmacies. The hospital pharmacies segment dominated the market in 2017 due to easy availability of medications in hospitals. The segment is expected to continue to dominate the omeprazole market from 2018 to 2026.

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 2017 due to the increase in incidences of H.pylori infection, which cause ulcers. Peptic ulcer disease (PUD) affects approximately 4.5 million people in the U.S. annually. Approximately 10% of the U.S. population suffer from duodenal ulcer. The market in Asia Pacific is anticipated to expand at a substantial CAGR owing to the rise in prevalence of H.pylori infection.

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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materia