Omeprazole Market Size, Share, Growth, Trends, Analysis and Forecast - 2028

The global omeprazole market is anticipated to grow at a CAGR of 5.1% during the forecast period (2022-2028).

Omeprazole, is a proton pump inhibitor (PPI) that reduces the amount of acid produced in the stomach. Omeprazole is a medicine that can be used alone or in conjunction with other medications. It is used to treat GERD, ulcers, and other disorders brought on by too much stomach acid. The market is growing due to an increase in the number of individuals suffering from gastrointestinal problems. According to a blog by GI Alliance, in February 2021, the digestive problem affects 62 million Americans every year. Most digestive illnesses become more common as people get older. Hemorrhoids, inflammatory bowel disease, and chronic liver disease are further outliers, that are more common in young and middle-aged persons owing to such factors the market is witnessing positive growth.

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Some major players in the market include RedHill Biopharma Ltd., Dr. Reddy's Laboratories Ltd., AstraZeneca, Mylan N.V., Apotex, among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. Additionally, an increase in the number of FDA-approved drugs boosted the market growth of omeprazole. For instance, in December 2018, Dr. Reddy has launched Omeprazole Delayed-Release Tablets, 20 mg, an over-the-counter (OTC) store-brand equivalent of Prilosec OTC (omeprazole delayed-release) Tablets, 20 mg, in the US market, following FDA approval (USFDA). Omeprazole Delayed-Release Tablets, 20 mg, is an over-the-counter proton pump inhibitor used to treat frequent heartburn in individuals who experience it two or more times per week.

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The use of omeprazole is increasing due to the rising prevalence of acid reflux, respiratory illnesses, and heart-related problems. The use of omeprazole is increasing as the number of incidences of duodenal and peptic ulcers rises. Furthermore, rising healthcare expenditures, increased research and development operations by numerous pharmaceutical companies, and the introduction of novel developed drugs all contribute to the omeprazole market's growth. In March 2019, Talicia for H. pylori infection has commercially launched in the US by RedHill Biopharma Ltd. Taliciais a new fixed-dose oral capsule that combines two antibiotics (amoxicillin and rifabutin) with a PPI (omeprazole).

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Market Coverage
• The market number available for - 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
o By Dosage Form
o By Indication
o By Distribution Channel

• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World

• Competitive Landscape- Apotex, AstraZeneca, Dr. Reddy's Laboratories Ltd., Mylan N.V., RedHill Biopharma Ltd., among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Omeprazole Market Report by Segment

By Dosage Form
• Capsule
• Powder
• Tablet

By Indication
• Duodenal Ulcer
• Gastric Ulcer
• Gastroesophageal Reflux Disease (GERD)

By Distribution Channel
• Hospital Pharmacies
• Retail Pharmacies
• Online Pharmacies

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Orion Market Reports (OMR) endeavors to provide an exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and the most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.

This release was published on openPR.