Omeprazole and Antihistamine Market Size
|Base Year For Estimation||2022|
|Fastest Growing Market||Asia Pacific|
|Largest Market||North America|
*Disclaimer: Major Players sorted in no particular order
Need a report that reflects how COVID-19 has impacted this market and its growth?
Omeprazole and Antihistamine Market Analysis
The omeprazole and antihistamine market is expected to register a CAGR of 5.7% over the forecast period.
- The COVID-19 pandemic positively impacted the studied market, though the healthcare systems were significantly impacted. The use of antihistamines provided relief against COVID-19 symptoms. For instance, in April 2021, an article published in Elsevier B.V. stated that early diagnosis and treatment using antihistamines, along with azithromycin in selected cases, effectively manages COVID-19 symptoms and potentially prevents the progression to severe disease in elderly patients.
- Similarly, according to an article published by ScienceDirect, in June 2022, the most common over-the-counter (OTC) drugs used during the COVID-19 pandemic were antipyretics, antihistamines, cough suppressants, etc.
- Furthermore, in July 2021, an article published in Springer Nature Limited stated that the COVID-19 pandemic drove great interest in the therapeutic potential of repurposed drugs with well-established benefits and safety profiles (toxicity, bioavailability, etc.), many of which act via signal transduction pathways. One category of such drugs is those that reduce acid production in gastroenterological contexts. Thus, such articles provide insight into the positive growth of the studied market over the forecast period.
- Factors such as the growing prevalence of gastroesophageal reflux disease (GERD), increasing demand for over-the-counter (OTC) medications, and rising awareness about the benefits of proton pump inhibitors (PPIs) are expected to increase market growth. For instance, in August 2022, a research study published in Springer Nature stated that GERD is one of the most widespread gastrointestinal conditions, affecting 20% of adults in Western societies.
- Males tend to have GERD at a slightly higher rate than females. In contrast to males, who are more expected to have erosive esophagitis, females who arrive with GERD symptoms are more likely to have non-erosive reflux disease. Thus, the increasing prevalence of GERD is expected to increase the demand for PPi-based drugs. PPIs are the preferred medications because they prevent the stomach parietal cells from producing acid, which lessens the acid's ability to irritate the esophagus.
- Omeprazole is the most popular. Similarly, increasing demand for over-the-counter (otc) medications is expected to increase market growth. For instance, according to an article published by Bloomberg L.P., in July 2022, Americans spend an average cost of USD 1,300 per person on prescription drugs per year.
- An average launch price of a new drug in the United States in 2021 was USD 180,000 for a year's supply. Such a rise in the price of a prescription drug is expected to increase the demand for self-medication with OTC drugs. However, side effects associated with PPIs and increasing competition from generic drugs are expected to hinder market growth.
Omeprazole and Antihistamine Market Trends
Capsule Segment is Expected to Hold a Significant Market Share Over the Forecast Period
- Factors such as the increasing prevalence of stomach ulcers coupled with product launches are expected to increase segmental growth over the forecast period. For instance, in April 2023, an article published in the National Library of Medicine (NLM) stated that gastric ulcers are a part of peptic ulcer disease, which carries a lifetime prevalence of 5% to 10% of patients, which is likely an underestimation of the disease as some patients may remain asymptomatic. Studies have shown that the prevalence of gastric ulcers increases with age and with the chronicity of non-steroidal anti-inflammatory drugs (NSAID) use.
- Research shows that smoking leads to a relative risk of 2.0 times that of non-smokers for developing gastric ulcers. There is no difference between men and women in the prevalence of gastric ulcers. The approximate prevalence of helicobacter pylori infection among individuals aged 60 in the United States population is around 50%. Furthermore, estimates suggest that about 25% of chronic NSAID users will develop gastric ulcers.
- Furthermore, the initiatives such as increasing product approval and launches are expected to increase segmental growth over the forecast period. In March 2023, Par Pharmaceutical, Inc. introduced a generic version of allergan's pylera (bismuth subcitrate potassium, metronidazole, tetracycline hydrochloride) capsules in the United States. This launch came after receiving final approval from the Food and Drug Administration for their abbreviated new drug application. As a result, the growing prevalence of stomach ulcers, combined with the introduction of new products in the market, is anticipated to drive segmental growth throughout the forecast period.
To understand key trends, Download Sample Report
North America is Expected to Hold a Significant Share in the Market Over the Forecast Period
- Factors such as the increasing prevalence of diseases such as gastric ulcers and GERD coupled with product launches are expected to increase market growth in the region. For instance, in September 2021, research published by the Centers for Disease Control and Prevention (CDC) titled "Digestive Diseases" stated that the number of adults with diagnosed ulcers was 14.8 million, around 5.9% of the total population.
- The number of visits to physician's offices with diseases of the digestive system as the primary diagnosis was 37.2 million. Hence, such a high prevalence would increase the market growth in the upcoming period.
- Similarly, in November 2022, an article published by the Canadian Paediatric Society (CPS) stated that regurgitation or vomiting following most feeds had been reported in 20% of healthy infants at 1 month of age. This can increase to 41% between 3 and 4 months of age, then subsequently decreases, becoming rare after 1 year of age. Thus, such a high number of infants suffering from GERD is expected to increase the demand for omeprazole-based drugs. Thus, the increasing prevalence of such diseases is expected to increase the demand for omeprazole and antihistamine-based drugs in the region.
- Furthermore, product approvals are another factor in market growth. For instance, in September 2022, the Food and Drug Administration (FDA) granted approval for Azurity Pharmaceuticals' Konvomep (omeprazole and sodium bicarbonate for oral suspension) to treat active benign gastric ulcers.
- Thus, the increasing prevalence of diseases such as gastric ulcers and GERD, coupled with product launches, is expected to increase market growth in the region.
To understand geography trends, Download Sample Report
Omeprazole and Antihistamine Industry Overview
The omeprazole and antihistamine market is moderately fragmented in nature due to the presence of companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international as well as local companies which hold market shares and are well-known as Bayer AG, Novartis, Pfizer, Procter & Gamble, and Teva Pharmaceutical, among others.
Omeprazole And Antihistamine Market Leaders
Procter & Gamble
*Disclaimer: Major Players sorted in no particular order
Omeprazole And Antihistamine Market News
- July 2022: Bayer launched its prescription-strength astepro allergy (azelastine HCI .15%) as over-the-counter (OTC) in retail stores in the United States.
- May 2022: Perrigo Company plc received approval from the Food and Drug Administration (FDA) for its OTC omeprazole 20 mg capsules.
Table of Contents
1.1 Study Assumptions and Market Defination
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Growing Prevalence of Gastroesophageal Reflux Disease (GERD)
4.2.2 Increasing Demand for Over-the-Counter (OTC) Medications
4.2.3 Rising Awareness About the Benefits of Proton Pump Inhibitors (PPIs)
4.3 Market Restraints
4.3.1 Side Effects Associated with PPIs
4.3.2 Increasing Competition from Generic Drugs
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD Million)
5.1 By Product Type
5.2 By Indication
5.2.1 Gastric Ulcer
5.2.2 Gastroesophageal Reflux Disease
5.2.5 Other Indications
5.3 By Distribution Channel
5.3.1 Hospital Pharmacies
5.3.2 Retail Pharmacies
5.3.3 Online Pharmacies
5.4.1 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
184.108.40.206 South Korea
220.127.116.11 Rest of Asia-Pacific
5.4.4 Middle East and Africa
18.104.22.168 South Africa
22.214.171.124 Rest of Middle East and Africa
5.4.5 South America
126.96.36.199 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.2 Bayer AG
6.1.3 CVS Health
6.1.4 Dr. Reddy's Laboratories Ltd.
6.1.5 Johnson & Johnson Consumer Inc.
6.1.7 Perrigo Company plc,
6.1.9 Procter & Gamble
6.1.11 Takeda Pharmaceutical Company Limited
6.1.12 Teva Pharmaceutical
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Frequently Asked Questions
What is the current Omeprazole and Antihistamine Market size?
The Omeprazole and Antihistamine Market is projected to register a CAGR of 5.7% during the forecast period (2023-2028).
Who are the key players in Omeprazole and Antihistamine Market?
Bayer AG, Novartis, Pfizer, Procter & Gamble and Teva Pharmaceutical are the major companies operating in the Omeprazole and Antihistamine Market.
Which is the fastest growing region in Omeprazole and Antihistamine Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2023-2028).
Which region has the biggest share in Omeprazole and Antihistamine Market?
In 2023, the North America accounts for the largest market share in the Omeprazole and Antihistamine Market.
Omeprazole and Antihistamine Industry Report
Statistics for the 2023 Omeprazole and Antihistamine market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Omeprazole and Antihistamine analysis includes a market forecast outlook to for 2023 to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.