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 |
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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.
