Market Size of Esomeprazole Industry
Study Period | 2021 - 2029 |
Base Year For Estimation | 2023 |
Forecast Data Period | 2024 - 2029 |
CAGR | 5.20 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Esomeprazole Market Analysis
The Esomeprazole Market is expected to register a CAGR of 5.2% over the forecast period.
COVID-19 adversely impacted the market for esomeprazole globally during the initial phase since patients were unable to access pharmacies and there was a shortage of medicines as most of the medicines were stocked out due to the increased demand. However, the market recovery has been led by an increase in esomeprazole product sales, new product launches, strategic developments, and an increased prevalence of GERD. For instance, in 2021, AstraZeneca's Nexium generated revenues of USD 1.33 billion, with the highest share in emerging markets. Similarly, the company entered into an agreement to out-license the rights to Nexium-authorized generics in Japan with an authorized generic in June 2021. Thus, such factors have greatly contributed to the market's growth, and the trend is expected to continue over the coming years in the post-pandemic phase, as per the analysis.
Furthermore, factors such as the increasing prevalence of gastroesophageal reflux disease (GERD) and the rising acceptance of novel drug delivery systems are significantly contributing to the market's growth. One of the major driving factors is the increasing prevalence of GERD, which is a chronic and highly prevalent disorder. The disorder is majorly prevalent in the middle-aged and older population. As per the 2022 report from the NLM, GERD is one of the most common gastrointestinal disorders, with a prevalence of approximately 20% in adults in western cultures. Furthermore, key players receiving approvals and market authorization worldwide are likely to increase competition, thereby boosting the market's growth. For example, Indchemie Health received FDA approval to manufacture and market Esomeprazole magnesium capsules in 2021.
Additionally, GERD is often associated with aging. According to the data published in October 2021 by the WHO, the pace of population aging is much faster than in the past, and by 2030, 1 in 6 people in the world will be aged 60 or over. At this time, the share of the population aged 60 years and over will increase from 1 billion in 2020 to 1.4 billion. Likewise, as per the Institute of Natural Medicine article published in January 2022, the lower esophageal sphincter (LES) loosens due to aging, which may irritate the lining of the esophagus due to acid reflux. This in turn may cause gastrointestinal disorders, resulting in an increased demand for esomeprazole among the elderly. Thus, the aforementioned factors are all contributing to the market's growth during the analysis period. However, stringent regulations for manufacturing esomeprazole that lead to a lesser number of products within the market may restrain the market's growth.
Esomeprazole Industry Segmentation
As per the scope of the report, esomeprazole is a type of proton pump inhibitor that is used for treating gastrointestinal diseases such as peptic ulcers, Zollinger-Ellison Syndrome, etc. It lowers the acidic level by decreasing its production in the stomach. The Esomeprazole Market is Segmented by Dosage Type (Tablets, Capsules, and Others), Application (Gastroesophageal Reflux Disease (GERD), Stomach Ulcers, and Others), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
By Dosage Type | |
Tablets | |
Capsules | |
Others |
By Application | |
Gastroesophageal Reflux Disease (GERD) | |
Stomach Ulcers | |
Others |
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Esomeprazole Market Size Summary
The esomeprazole market is poised for steady growth, driven by an increasing prevalence of gastroesophageal reflux disease (GERD) and the rising acceptance of novel drug delivery systems. The market experienced initial setbacks due to the COVID-19 pandemic, which disrupted access to pharmacies and led to medicine shortages. However, recovery has been bolstered by a surge in esomeprazole sales, new product launches, and strategic developments. The aging population, particularly in Western cultures, is contributing to the demand for esomeprazole, as GERD is more prevalent among older adults. The market is further supported by regulatory approvals and the introduction of generic alternatives, which enhance competition and accessibility.
North America is expected to dominate the esomeprazole market, fueled by a growing geriatric population and a high prevalence of GERD. The United States, in particular, is a significant contributor to regional growth due to the adoption of advanced drug delivery systems and the increasing incidence of gastrointestinal disorders. The market's expansion is also supported by awareness initiatives and research studies aimed at understanding and treating GERD. The fragmented nature of the market, with numerous global and regional players, is characterized by strategic mergers, acquisitions, and product launches, ensuring a competitive landscape. Key players such as Daiichi Sankyo, Viatris Inc., and Teva Pharmaceutical Industries Ltd. are expected to maintain a strong presence, driving further growth in the coming years.
Esomeprazole Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Prevalence of Gastroesophageal Reflux Disease (GERD)
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1.2.2 Rising Acceptance of Novel Drug Delivery Systems
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1.3 Market Restraints
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1.3.1 Stringent Regulatory Framework
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Dosage Type
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2.1.1 Tablets
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2.1.2 Capsules
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2.1.3 Others
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2.2 By Application
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2.2.1 Gastroesophageal Reflux Disease (GERD)
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2.2.2 Stomach Ulcers
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2.2.3 Others
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2.3 Geography
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Mexico
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2.3.2 Europe
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2.3.2.1 Germany
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2.3.2.2 United Kingdom
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2.3.2.3 France
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2.3.2.4 Italy
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2.3.2.5 Spain
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2.3.2.6 Rest of Europe
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2.3.3 Asia-Pacific
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2.3.3.1 China
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2.3.3.2 Japan
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2.3.3.3 India
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2.3.3.4 Australia
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2.3.3.5 South Korea
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2.3.3.6 Rest of Asia-Pacific
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2.3.4 Middle East and Africa
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2.3.4.1 GCC
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2.3.4.2 South Africa
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2.3.4.3 Rest of Middle East and Africa
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2.3.5 South America
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2.3.5.1 Brazil
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2.3.5.2 Argentina
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2.3.5.3 Rest of South America
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Esomeprazole Market Size FAQs
What is the current Esomeprazole Market size?
The Esomeprazole Market is projected to register a CAGR of 5.20% during the forecast period (2024-2029)
Who are the key players in Esomeprazole Market?
Teva Pharmaceutical Industries Ltd., Amneal Pharmaceuticals LLC, Viatris Inc., DAIICHI SANKYO COMPANY, LIMITED and Sun Pharmaceutical Industries Ltd. are the major companies operating in the Esomeprazole Market.