Home / Press Release / Global Gastroesophageal Reflux Disease (GERD) Devices Market Expected To Grow At A CAGR Of 3.7% During The Forecast Period

Global Gastroesophageal Reflux Disease (GERD) Devices Market Expected To Grow At A CAGR Of 3.7% During The Forecast Period

The latest market report published by Credence Research, Inc. “GERD Devices Market: Growth, Future Prospects, and Competitive Analysis, 2019 - 2027” the GERD Devices market was valued at US$ 893.7in 2018, expected to grow at a CAGR of 3.7% during the forecast period from 2019 to 2027.

Market Insights

“Increasing prevalence of lifestyle diseases along with new FDA approval for GERD devices will enhance the market growth globally”

The global GERD devices market is increasing competently from 2019 to 2027 attributed to the rise lifestyle diseases, increasing obesity rate in the developed nations, launch & FDA approval of new devices and scopes. Additionally, increased diagnostic procedures along with endoscopy will further spur revenue growth. Esophy X, Linx, and Endocinch endoluminal gastroplication are few invasive methods applied globally. Noninvasive procedures utilized nowadays in the specialty clinics, for e.g. Stretta technique. Barium esophagram, Esophagogastroduodenoscopy, and manometry used in the diagnosis of GERD. The growing ageing population in the developed countries mainly in the U.S. and Western Europe with increased lifestyle disorders will drive the market globally.

Gastroscopes and esophagoscopes generated maximum revenue in the product segment globally. Increased demand in the diagnostic centers will drive market growth. North America (the U.S) will be the leading regional markets for GERD. As per studies by World Gastroenterology Organization, the prevalence of GERD is high, ranging from 13.0 to 25% and 2 to 6.0% in Asia Pacific region. The increasing rate of obesity in the United States is one of the key factors driving the growth in North America. Additionally, high rates for heartburn symptoms, morning hoarseness, acid reflux, difficulty swallowing, pain in the chest and dry cough in the adult population will drive the need for GERD treatment.

The global GERD market driven by rising prevalence of chronic disorders and everyday lifestyle diseases. High cost of medical devices, cost of routine diagnosis, and less penetration of GERD devices in the developing nations is one of the key factors restraining the overall market growth. Asia Pacific region will show significant growth (mainly India, China, Japan, and Australia) along with improved medical infrastructure and large pool of adult population with GERD and other reflux related conditions.

Device manufacturers have enhanced their applications globally mainly in the diagnostic centers and hospitals industry; the small-scale device manufacturers are also increasing their capacity with low-cost services in Asian countries, South America and Europe region. Advancement in transoral incisionless fundoplication (TIF) procedures, radiofrequency thermal ablation, LINX® reflux management system and other surgical techniques will upsurge the market growth during the forecast period. Factors driving the market growth include increased medical tourism, partnerships of medical technology companies, new GERD device launch, and US FDA approval, increased awareness for GERD conditions, and new technology expansion in the emerging countries.

Key Market Movements:

• Globally, the global market is growing at a CAGR of 3.7% for the period from 2019 to 2027
• The evident growth factors include increasing prevalence of GERD in the U.S. (prevalence rate is high,7-25%), FDA approval, growing elderly population, and enhanced public awareness related to GERD and other lifestyle diseases
• Market restrictions include high cost of devices and overall treatment, less adoption of GERD devices, unstructured medical coverage for surgical procedures, and less awareness in the overall global GERD devices market

List of Companies Covered:

• Olympus Corporation
• Mederi RF, Inc.
• Medtronic Plc.
• Diversatek Inc
• EndoGastric Solutions
• Pentax Medical
• Torax Medical, Inc.
• Medigus Ltd.
• C.R. Bard, Inc.
• Others

Browse Full Report At https://www.credenceresearch.com/report/gastroesophageal-reflux-disease-gerd-devices-market

The Global Gastroesophageal Reflux Disease (GERD) Devices Market is Segmented into:

ATTRIBUTE DETAILS
Research Period  2017-2027
Base Year 2018
Forecast Period  2019-2027
Historical Year  2017
Unit  USD Million
Segmentation

 By Product Type (2017–2027; US$ Mn)

 By Procedure Type Segment (2017–2027; US$ Mn)

 By End User Segment (2017–2027; US$ Mn)

 By Geography Segment (2017–2027; US$ Mn)

*Complete segmentation list is on report page

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