Omeprazole Sulfone Market
Omeprazole Sulfone Market Analysis, By Formulation (Tablets, Powder Form) and By Region - Global Market Insights 2023 to 2033
Analysis of Omeprazole Sulfone Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Omeprazole Sulfone Market Outlook (2023 to 2033)
Based on the analysis by Fact.MR, the global omeprazole sulfone market is estimated to be valued at US$ 4,749.9 Million in 2023 and it is expected to grow at a CAGR of 4.5% to reach US$ 7,348.2 Million by the end of 2033.
The change in lifestyle of people, the increase in unhealthy eating habits, and the deprived sleep cycles are the major drivers of the omeprazole sulfone market. The increasing prevalence of one of the diseases named gastroesophageal reflux disease (GERD) is also responsible for the growth of the market.
There are several factors such as obesity, the use of certain medications without proper prescriptions, and medical conditions like pregnancy further increases the chances of having GERD, this creates the demand for certain medication to cure the disease, hence it triggers the omeprazole sulfone market.
Omeprazole Sulfone Market Size (2022A)
US$ 4,547.1 Million
Estimated Market Value (2023E)
US$ 4,749.9 Million
Forecasted Market Value (2033F)
US$ 7,348.2 Million
Global Market Growth Rate (2023-2033)
US Market Growth Rate (2023-2033)
Key Companies Profiled
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Historical and Future Pathway Analysis for the Omeprazole Sulfone Market
Omeprazole sulfone is a drug that is more efficient than the normal omeprazole drug at reducing stomach acid. These drugs are Proton Pump Inhibitors (PPI) and are used to treat ulcers, gastroesophageal reflux diseases (GERD), and other diseases which are caused due to too much stomach acid.
In recent years, this omeprazole sulfone market has seen a very steep growth and it is expected that this trend will further continue in the upcoming years also.
- Short-term (2023-26): In recent times omeprazole sulfone is being sold over the counter (OTC) and the increasing popularity of OTC medications will have a positive impact on the market.
- Medium-term (2026-29): In the medium term, the market is positioned to witness steady market growth due aging population, gastro-related issues, and peptic ulcers among others. The market is expected to witness increased competition among manufacturers.
- Long-term (2029-33): In the longer term, overall research and development will increase. Most eminent players in the market are focused on finding unique solutions to penetrate the market. The increase in awareness among people about the benefits of using PPI drugs for the cure of reducing stomach acids will showcase a very steep growth for the market.
On the back of the aforementioned findings, the omeprazole sulfone market is anticipated to grow at a CAGR of 4.5% during the forecast period from 2023-2033, According to the Fact.MR, a market research and competitive intelligence provider.
Market Dynamics Outlook
“Rapid Increase of Gastroesophageal Reflux Diseases (GERD) Among People Has Led to an Increase in The Demand of Omeprazole Sulfone”
GERD is a medical condition or kind of disease in which the stomach acid increases a lot and goes to the esophagus, which results in a burning sensation in the heart, acid reflux, ulcers, and other medical conditions.
GERD nowadays is constantly increasing among people due to several factors like eating excessive junk food, which leads to obesity, no proper digestion of food, and not maintaining proper gut health. Pregnancy in women and the use of different kinds of medications without proper prescription are also responsible for different kinds of stomach or gastro-related issues. With the increase of GERD, the demand for the omeprazole sulfone market also increases rapidly.
In 2022, the global pharmaceutical market was valued at around US$ 1.4 trillion, and it is projected to experience continuous growth in the coming years. The increasing number of diseases like GERD in people is expected to boost the demand for omeprazole sulfone as more people want to get help from the diseases.
“Rising Demand for Over-the-Counter (OTC) Medications”
Omeprazole sulfone is also available as an OTC medication in many countries, and since it is responsible for giving relief from diseases like GERD, peptic ulcers, and medical conditions like an increase in stomach acids, people prefer to get the medication as an OTC medication itself rather than as a prescribed one to get quicker relief from their medical conditions.
OTC medications are becoming more popular and the demand is also rising because they are more affordable and convenient as compared to prescribed medications.
Hence, this contributes to the rising demand of the entire market for omeprazole sulfone.
“Side Effects Pose a Barrier to Market Expansion”
Like all other medications, omeprazole sulfone also has some side effects which pose a barrier to market expansion. The most common side effects include (Diarrhoea, Nausea, Vomiting, Headache, Constipation, and Abdominal pain).
The side effects are the biggest restraining factor for the market as it has been observed that most patients go through some sort of side effects after its consumption, but in most cases, they are very mild side effects and do eventually go away. This creates a sense of fear among patients about whether they should use the omeprazole sulfone or not and hence it creates a market barrier for its overall growth.
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What are the Factors Driving the Omeprazole Sulfone Market Demand Across North America?
The North American Market contains a high number of people who are currently suffering from GERD and other gastro-related issues. The high amount of junk food that is consumed in this entire region is responsible for people being obese in this region, and hence having diseases like GERD.
The high prevalence of GERD results in the growing market demand for omeprazole sulfone in the North American region.
- “During the period from 1999-2000 through 2017-2022 the obesity index in the North American region (especially United States), has increased from 30.5% to 41.9%. During the same time, the severe obesity index has also increased from 4.7% to 9.2%. The increase in the number of obese people results in diseases related to gastro like GERD which ultimately drive the market of omeprazole sulfone.”
- “The US Omeprazole Sulfone Market is expected to grow at a CAGR of 3.5% to reach US$ 1,405.71 Million by the end of 2033.”
Why China’s Omeprazole Sulfone Market is Growing?
China’s robust economy and well-established pharmaceutical industry contribute to the growing demand in the market. There are several factors responsible for this growth in the Chinese market.
- The increasing number of elderly people in China is very much responsible for this growth of the omeprazole sulfone market. Elderly people are more likely to suffer from GERD and other gastro-related issues, hence, they would require the proper medications for that. So the overall market for omeprazole sulfone will grow substantially.
- The increasing healthcare cost in China pushes normal people to buy medications from their nearby local shops hence promoting OTC (over-the-counter) medications. This very much drives the market as it can be available as an OTC medication.
- The increase in the number of women in their workforce. Women generally are more prone to suffer from diseases related to gastro or GERD as compared to men, and also due to their pregnancy, they are more prone to suffer from diseases related to gastro. Omeprazole sulfone is one of the drugs known to help with such causes, that’s why the overall market is also increasing rapidly.
Why are the Tablets so Much Popular in the Omeprazole Sulfone Market?
Tablets as we all know are the most common form of dosage of any medication. The tablet form of dosage dominates the entire omeprazole sulfone market because of its practicality and the number of other advantages that they provide.
The normal tablet form of omeprazole sulfone is very much affordable as compared to all those other forms of dosage in this market. Also, the ease of availability in the case of tablets is very much high in the entire market, which makes it easier for people to get the medication very easily at OTC. Tablets are easy to swallow and also offer a consistent release of the medication. People prefer the tablet form more as compared to all those other forms of dosage that’s why it is becoming so much popular.
However, for people who suffer difficulty in swallowing or people who require very high dosages of medication or require frequent dosages of medication, for them tablets won’t be the ideal solution. They would be requiring an injectable form of dosage of the medication or maybe a powdered or liquified form.
How Does Conducting Different Trials of The Formulations Help the Manufacturers in The Market?
The different manufacturers are heavily investing in research and development, and finding innovations. Conducting trials to make different formulations will eventually help the manufacturers to get access to a wide number of different potential customers for the omeprazole sulfone market.
The creation of different formulations of omeprazole sulfone through trials can help manufacturers to make products that are more efficient and have fewer side effects. This will drive the market for the manufacturers and people would have different choices of formulation to choose.
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The prominent players in the omeprazole sulfone market are CAYMAN CHEMICAL, Nobel, Shouguang Fukang Pharmaceutical Co., Ltd, AstraZeneca, Zhengda Tianqing, Osaikon Yuekang Pharmaceutical Group Co., Ltd, Shenyang Pharmaceutical University.
Most of the manufacturers in the omeprazole sulfone market focus on the continuous development of the product through innovation and investing heavily in research and development for the introduction of new products. The aim is to develop new products which may have better efficiency and more safety or lesser side effects.
Geographic expansion is also one of the major business moves which the eminent players are looking ahead. The geographical expansion helps the company a lot to increase its market share and also helps the people who require the supply.
Fact.MR has provided detailed information about the price points of key manufacturers of omeprazole sulfone positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Segmentation of Omeprazole Sulfone Industry Research
By Formulation :
- Powder form
By Region :
- North America
- East Asia
- South Asia & Oceania
- Latin America
- Middle East & Africa
- FAQs -
The global omeprazole sulfone market was valued at US$ 4,547.1 Million in 2022.
The regions included in the omeprazole sulfone market study include North America, Latin America, Europe, East Asia, South Asia & Oceania, Middle East & Africa.
Prominent players in the market are CAYMAN CHEMICAL, Nobel, Shouguang Fukang Pharmaceutical Co., Ltd, AstraZeneca, Zhengda Tianqing, Osaikon Yuekang Pharmaceutical Group Co., Ltd, Shenyang Pharmaceutical University.
The market is expected to reach a valuation of US$ 7,348.2 Million in 2033.
The historical growth rate of the omeprazole sulfone market was 4.0% from 2018-2022.
The US market is expected to reach a valuation of US$ 1,405.7 Million in 2033.
The Chinese market is expected to reach a valuation of US$ 2,569.7 Million in 2033.
The CAGR in the medical formulation of omeprazole sulfone is expected to grow by 4.5% during the assessment period 2023-33.