Global Omeprazole Market- Industry Outlook, Emerging Trends, Astonishing Growth, Growth Insight and Future Forecast to 2027
Research Nester has released a report titled “Omeprazole Market – Global Demand Analysis & Opportunity Outlook 2027”which also includes some of the prominent market analyzing parameters such as industry growth drivers, restraints, supply and demand risk, market attractiveness, year-on-year (Y-O-Y) growth comparisons, market share comparisons, BPS analysis, SWOT analysis and Porter’s five force model.
The regulatory agencies around the world has approved omeprazole drug to be prescribed as a proton pump inhibitor (PPI) that helps in reducing acidity. The drug is also prescribed for curing heartburns and for the treatment of diseases linked with the gastro-esophageal reflux disease (GERD). Additionally, rising number of patients who are suffering from peptic ulcers is also raising the need for the treatment of the gastrointestinal disorders. Moreover, increasing awareness for the treatment of several gastrointestinal disorders in several developed and developing nations around the globe owing to the increasing expenditure by the government of nations for the development of the healthcare infrastructure are some of the factors anticipated to drive the growth of the global omeprazole market.
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The global omeprazole market is anticipated to achieve a CAGR of around 6% during the forecast period, i.e. 2019-2027. The market is thriving on account of the rising number of obese people globally, growing prevalence of acid refluxes, respiratory disorders, heart-related issues and others amongst the growing number of elderly populations, as well as for the increasing opportunities generated from the increasing focus on innovation and development for low-cost generics by the pharmaceutical manufacturers. Further, the market which was valued at a value of around USD 1900 million in the year 2018 is anticipated to achieve an absolute $ opportunity of around USD 1200 million during the forecast period and garner a value of around USD 3300 million by the end of 2027.
The global omeprazole market is segmented by dosage form into capsule, tablet and powder. Among these segments, the capsule segment held a market share of around 52% in the year 2018 and is anticipated to cross a value of around USD 1800 million by the end of 2027. The segment is also anticipated to register the highest CAGR of around 6.5% over the forecast period. Moreover, the tablet segment is anticipated to grow with a moderate CAGR of around 6% over the forecast period.
Geographically, the global omeprazole market is segmented by five major regions into North America, Europe, Middle East & Africa, Asia-Pacific and Latin America region, out of which, North America, which held the largest market share of around 38% in the year 2018, is anticipated to grow on account of presence of nations, such as U.S. and Canada, where U.S. held the dominant market share of around 59% in the year 2018. Moreover, the market is further expected to expand by observing the growth rate of ar0und 1.6x over the forecast period.
However, concerns for the use of alternative drugs, such as antacids, which are also used for the treatment of GERD and to neutralize the acid in the stomach, are some of the factors estimated to act as a barrier to the growth of the global omeprazole market.
This report also studies existing competitive scenario of some of the key players of the global omeprazole market, which includes profiling of Dr. Reddy’s Laboratories Ltd. (NSE: DRREDDY), AstraZeneca plc (LON: AZN), Sandoz International GmbH, Mylan N.V. (NASDAQ: MYL), Apotex, Inc., Amneal Pharmaceuticals LLC (NYSE: AMRX), Perrigo Company plc, Salix Pharmaceuticals and Allergan plc (NYSE: AGN).
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The profiling enfolds key information of the companies which comprises of business overview, products and services, key financials and recent news and developments. Conclusively, the report titled “Omeprazole Market – Global Demand Analysis & Opportunity Outlook 2027”, analyses the overall omeprazole industry to help new entrants to understand the details of the market. In addition to that, this report also guides existing players looking for expansion and major investors looking for investment in the global omeprazole market in the near future.
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