by Gastroesophageal reflux disease (GERD) treatment devices market consists of devices used for the treatment of GERD. GERD is a digestive disorder that occurs when stomach acid or contents flow back into the food pipe or esophagus. Common symptoms of GERD include heartburn, difficulty swallowing, chest pain and dry cough. Medications, diet and lifestyle changes are the first line of treatment for GERD. However, in some cases, anti-reflux devices are recommended for long term management and treatment of GERD.
The Global Gastroesophageal Reflux Disease Treatment Devices Market is estimated to be valued at US$ 1.41 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in The Gastroesophageal Reflux Disease Treatment Devices are Google, Inc., Huawei Technologies Co. Ltd., Cisco Systems, Inc., Brocade Networking Solutions, Hewlett Packard Enterprise, Extreme Networks, Inc., Arista Networks, Avaya, Inc., Juniper Networks, Dell Inc., and Microsoft Corporation. The key players are focusing on new product development and launches to strengthen their presence. For instance, in August 2020, Medtronic plc received the U.S. Food and Drug Administration approval for LINX Reflux Management System, a new treatment option for patients suffering from GERD.
The key opportunities in the gastroesophageal reflux disease treatment devices market include rising awareness about the disease, high prevalence of obesity and increasing geriatric population globally. As per the United Nations reports, the number of people aged 60 years or older is expected to double by 2050 and triple by 2100. The elderly population is more susceptible to GERD, thus driving the demand for treatment devices.
The companies operating in the market are focusing on expansion in high potential markets to gain larger market share. For instance, in January 2020, EndoGastric Solutions expanded its LINX reflux management system and EsophyX Transoral Incisionless Fundoplication system in the Asia Pacific market through distribution agreements with several partners.
Market drivers
The major market driver for gastroesophageal reflux disease treatment devices is the increasing geriatric population globally. As per the World Health Organization, the number of people aged 60 or above is projected to grow from 900 million to 2 billion between 2015 and 2050. The elderly population is more prone to gastrointestinal disorders like GERD due to reduced functioning of lower esophageal sphincter with age. Thus, rising geriatric demography is expected to drive the adoption of GERD treatment devices during the forecast period.
PEST Analysis
Political: The regulations around the approval and marketing of medical devices used to treat gastroesophageal reflux disease are fairly stringent. Regulatory bodies ensure the safety and efficacy of these devices before approving them for patient use.
Economic: The overall growth of the global economy and disposable income levels impact the affordability of treatment devices and adoption rates. Higher healthcare spending in developed nations boosted spending on advanced gastroesophageal reflux disease treatment options.
Social: Growing awareness about gastroesophageal reflux disease and available treatment options encourage more people to seek diagnosis and treatment. Social stigma around certain treatment procedures is declining over time.
Technological: Advances in materials engineering and device miniaturization allow for development of more effective and less invasive treatment solutions. Ongoing R&D is helping expand the portfolio of surgical and non-surgical device options available to physicians and patients.
Geographical Regions
North America accounts for the largest share of the global gastroesophageal reflux disease treatment devices market in terms of value. This can be attributed to the availability of advanced treatment options, growing disease prevalence, favorable reimbursement policies, and healthcare infrastructure in the region.
Asia Pacific is emerging as the fastest growing regional market for gastroesophageal reflux disease treatment devices. Factors such as rising awareness, improving access to healthcare, increasing healthcare expenditures, and growing focus of international companies on expanding into this region are supporting the rapis market growth. The large patient population and faster adoption of new technologies also contribute to the growth.
