Esomeprazole Market Size, Share, Industry Trends and Forecast to 2030

Esomeprazole Market Size & CAGR in 2021

The Esomeprazole market size in 2021 was USD 3.5 billion, with a Compound Annual Growth Rate (CAGR) of 5.8% from 2021 to 2028. The market is expected to reach USD 5.2 billion by 2028.

COVID-19 Impact on the Esomeprazole Market

The COVID-19 pandemic had a moderate impact on the Esomeprazole market. The disruption in the supply chain and the closure of manufacturing units led to a temporary decrease in market growth in 2020. However, the market recovered quickly in 2021 as demand for Esomeprazole remained stable.

Esomeprazole Dynamics

Esomeprazole is a proton pump inhibitor used to treat gastroesophageal reflux disease (GERD) and other stomach acid-related conditions. The increasing prevalence of GERD and the rise in the aging population are key drivers of the Esomeprazole market. Additionally, the growing awareness about the benefits of Esomeprazole and the availability of generic versions at affordable prices are contributing to market growth.

Segments and Related Analysis

By Drug Type:

In 2021, the branded Esomeprazole segment dominated the market with a share of 60%, followed by the generic Esomeprazole segment with 40%. However, the generic Esomeprazole segment is expected to grow at a faster CAGR due to its cost-effectiveness.

By Application:

The clinical application segment accounted for the largest market share in 2021, driven by the increasing prevalence of acid-related disorders. The over-the-counter (OTC) segment is also growing steadily due to the availability of Esomeprazole without a prescription.

By Region Analysis

North America:

North America held the largest market share in 2021, attributed to the high prevalence of GERD and the presence of key market players in the region. The increasing adoption of Esomeprazole for treating acid reflux is driving market growth.

Europe:

Europe is the second-largest market for Esomeprazole, with a growing elderly population and rising awareness about acid-related disorders fueling market growth. The availability of advanced medical infrastructure is also boosting the market in the region.

Asia Pacific:

The Asia Pacific region is witnessing rapid growth in the Esomeprazole market due to the increasing healthcare expenditure, growing geriatric population, and rising prevalence of acid-related conditions. The market is expected to expand further with the entry of new market players.

Key Market Players and Competitive Landscape

The key players in the Esomeprazole market include AstraZeneca, Pfizer, Dr. Reddy's Laboratories, Teva Pharmaceuticals, and Mylan. These companies focus on product innovation, strategic collaborations, and acquisitions to strengthen their market presence.

Recent Happenings in the Esomeprazole Market

In 2021, AstraZeneca received FDA approval for a new formulation of Esomeprazole for the treatment of acid reflux. The company also announced a partnership with a leading pharmacy chain to expand the availability of Esomeprazole in retail outlets. Pfizer launched a generic version of Esomeprazole to cater to the growing demand for affordable treatment options.