Gastroesophageal Reflux Disease Treatment Devices Market is Poised...

Gastroesophageal Reflux Disease Treatment Devices Market is Poised for Growth Thanks to Rising Geriatric Population

Postado 2024-03-08 11:18:00

Gastroesophageal reflux disease (GERD) occurs when stomach contents flow back into the esophagus (food pipe) causing irritation and damage. Increasing prevalence of obesity and growing geriatric population coupled with inadequate lifestyle are major factors responsible for the rising number of GERD cases worldwide. GERD treatment devices prevent reflux by helping block the flow of stomach acids into the esophagus. The rising demand for minimally invasive procedures for GERD treatment and technological advancements in anti-reflux devices are some of the key factors driving the growth of this market.

The global gastroesophageal reflux disease treatment devices market is estimated to be valued at US$ 1.41 billion 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 market 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. These companies have adopted both organic and inorganic growth strategies such as new product launches, partnerships and acquisitions to strengthen their business portfolio and market presence.

Key opportunities in the market include growing adoption of endoscopy based GERD Treatment procedures, increasing usage of pH monitoring devices and growing awareness about the risks of untreated GERD. Market players are focusing their efforts on emerging countries to capitalize on their large population base and increasing disposable incomes. For instance, availability of low-cost generic drugs and devices as well as favorable regulations in developing nations are encouraging multinational companies to expand in these regions.

Market drivers: The rising geriatric population is a major driver for this market. Older people are more prone to GERD due to age-related changes in digestive system. According to the United Nations, the number of people aged 65 years and above is projected to grow from 727 million in 2020 to 1.5 billion in 2050 globally. Additionally, rising prevalence of obesity is fueling the growth of the GERD treatment devices market. Obesity is a significant risk factor for GERD as it increases intra-abdominal pressure and weakens the lower esophageal sphincter.

Market restraints: High cost of endoscopic anti-reflux procedures compared to medication is a key challenge for market players. This hinders adoption, particularly in low and middle-income countries. Moreover, issues related to safety, efficacy and administrative barriers of Laparoscopic antireflux surgeries restrain market growth. Adverse events such as dysphagia or inability to belch after surgery discourage patients from opting for surgical treatment in some cases.

Segment Analysis
The Gastroesophageal Reflux Disease Treatment Devices market can be divided into two main segments - Drugs and Devices. The Drugs segment has further sub-segments such as- Antacids, H2 Receptor Blockers, Proton Pump Inhibitors (PPIs), Pro-kinetic Agents etc. Amongst these sub-segments, the Proton Pump Inhibitors sub-segment dominates the market currently. Proton Pump Inhibitors are very effective in reducing stomach acid levels in treating GERD symptoms and heal esophagus damage caused by stomach acid. Also they provide better and faster results as compared to other sub-segments.

Global Analysis
The North America region holds the major share in the Gastroesophageal Reflux Disease Treatment Devices market currently due to factors like- growing elderly population base, increasing disease prevalence, growing awareness and adoption of treatment devices amongst patients and doctors. The Asia Pacific region is expected to witness fastest growth during the forecast period owing to rapidly growing economies and healthcare markets in countries like China and India, increasing awareness, and rising healthcare expenditure.