Market Overview
The esomeprazole magnesium market is poised for significant growth, driven by several key factors. Here’s a detailed look at the market dynamics and financial trajectory of this drug.
Impact of COVID-19
The COVID-19 pandemic had an initial adverse impact on the esomeprazole market globally. Patients faced difficulties in accessing pharmacies, and there was a shortage of medicines due to increased demand. However, the market has since recovered, driven by increased esomeprazole product sales, new product launches, and strategic developments[1][3][4].
Growth Drivers
Increasing Prevalence of GERD
One of the major drivers of the esomeprazole market is the increasing prevalence of gastroesophageal reflux disease (GERD). GERD is a chronic and highly prevalent disorder, particularly among the middle-aged and older population. In Western cultures, approximately 20% of adults suffer from GERD, making it one of the most common gastrointestinal disorders[1][3][4].
Novel Drug Delivery Systems
The rising acceptance of novel drug delivery systems is another significant factor contributing to market growth. Capsules, in particular, are gaining traction due to their fast-acting nature and better patient compliance compared to tablets. They are less likely to have an unpleasant taste or odor and are available in both branded and generic forms, making them more accessible and affordable[1][3].
Regulatory Approvals and Strategic Developments
Key players receiving approvals and market authorizations worldwide are increasing competition and boosting market growth. For example, Indchemie Health received FDA approval to manufacture and market esomeprazole magnesium capsules in 2021. Additionally, AstraZeneca entered into an agreement to out-license the rights to Nexium-authorized generics in Japan in June 2021[1][3].
Market Size and Growth Rate
The global esomeprazole market size was valued at USD 1.89 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 5.51% from 2024 to 2030. This growth is attributed to the rise in gastrointestinal disorders, including acid reflux, and the high success rates of esomeprazole in treating GERD[4].
Regional Market Analysis
North America
North America is expected to hold a significant share in the esomeprazole market, driven by the aging population, the surge in GERD patients, and strategic developments. The United States is a major contributor to regional growth due to the increasing adoption of novel drug delivery systems and the rising prevalence of gastrointestinal diseases among Americans[1][3][4].
Asia-Pacific
The Asia-Pacific region is expected to witness the fastest CAGR over the forecast period, driven by the rising geriatric population and high demand for esomeprazole products. Countries like Japan, where around 11.41 million people were affected by GERD in 2022, are contributing significantly to this growth[4].
Financial Performance of Key Players
AstraZeneca
AstraZeneca's Nexium generated revenues of USD 1.33 billion in 2021, with the highest share in emerging markets. However, the company faced a setback in October 2023 when it agreed to pay USD 425 million to resolve around 11,000 litigations regarding its heartburn drugs Prilosec and Nexium, which caused chronic kidney disease. This will likely have a negative impact on the company’s market position[1][3][4].
Product Launches and Approvals
Recent product launches and approvals are further fueling market growth. For instance, in June 2023, the U.S. Food and Drug Administration (FDA) approved esomeprazole magnesium for delayed-release oral suspension, developed by Zydus Lifesciences Limited, for the treatment of patients with esophagus and stomach problems[4].
Capsule Segment Growth
The capsule segment is expected to grow significantly due to the advantages offered by these over other dosage types. Capsules are fast-acting, break down quickly, and are less likely to have an unpleasant taste or odor. This segment is supported by product launches, company acquisitions, and research and development associated with esomeprazole capsules[1].
Clinical Trials and Research
Clinical trials continue to play a crucial role in the market's growth. For example, Onconic Therapeutics Inc. sponsored a clinical trial in July 2022 evaluating the efficacy and safety of JP-1366 20 mg compared to esomeprazole 40 mg capsule in patients with erosive esophagitis[1].
Market Challenges
Despite the growth, the esomeprazole market faces challenges such as litigation and safety concerns. AstraZeneca's recent settlement regarding chronic kidney disease associated with its heartburn drugs is a significant example of these challenges[4].
Key Takeaways
- The esomeprazole market is expected to grow at a CAGR of 5.51% from 2024 to 2030.
- The increasing prevalence of GERD and the rising acceptance of novel drug delivery systems are key growth drivers.
- North America and the Asia-Pacific region are significant markets due to their aging populations and high demand for esomeprazole products.
- Recent product launches and approvals, such as the FDA approval of esomeprazole magnesium for delayed-release oral suspension, are boosting market growth.
- The capsule segment is expected to grow significantly due to its advantages over other dosage types.
FAQs
What is the expected CAGR of the esomeprazole market from 2024 to 2030?
The esomeprazole market is expected to grow at a CAGR of 5.51% from 2024 to 2030[4].
How did COVID-19 impact the esomeprazole market?
COVID-19 initially disrupted the market by limiting access to pharmacies and causing medicine shortages. However, the market has since recovered due to increased product sales, new product launches, and strategic developments[1][3][4].
What are the main drivers of the esomeprazole market growth?
The main drivers include the increasing prevalence of GERD, the rising acceptance of novel drug delivery systems, and regulatory approvals and strategic developments[1][3][4].
Which region is expected to witness the fastest CAGR in the esomeprazole market?
The Asia-Pacific region is expected to witness the fastest CAGR over the forecast period due to the rising geriatric population and high demand for esomeprazole products[4].
What is the significance of the capsule segment in the esomeprazole market?
The capsule segment is expected to grow significantly due to its fast-acting nature, better patient compliance, and lack of unpleasant taste or odor compared to other dosage types[1].
Sources
- Mordor Intelligence: Esomeprazole Market - Size, Share & Brands.
- FDA: NEXIUM - accessdata.fda.gov.
- Mordor Intelligence: Esomeprazole Market Size | Mordor Intelligence.
- Grand View Research: Esomeprazole Market Size, Share & Growth Report, 2030.
