The market for Gastroesophageal Reflux Disease (GERD) Devices is expected to reach US XX Bn in 2028.
The global GERD devices market is growing proficiently at a CAGR of 3.7%. GERD is a common disease with the highest prevalence in North America. A recent study from the U.S. revealed that the prevalence of gastroesophageal reflux disease ranged from 18% to 27% in North America, 8% to 25% in Europe, 8% to 30% in the Middle East, 2% to 7% in Asia, and around 22% in Latin America. The high prevalence of complicated gastroesophageal reflux disease in the U.S. and the increasing rate of obesity and lifestyle disorders will drive market growth. The increasing demand in diagnostic centers will grow significantly. An ageing population, new technology assessment in treatment devices, FDA approval, increasing endoscopy procedures, and rising incidences of chronic diseases will drive the overall growth of the GERD devices market on a global scale.
Advancements in the treatment devices and diagnostics segment and technological advancement will drive market growth. Chronic disease management, improved cost savings, and higher positive outcomes are key factors driving the overall growth of GERD devices. By type, esophagoscopes and gastroscopes generated maximum revenue share in the GERD devices market. The diagnostic devices cover pH monitoring devices and esophageal manometry systems.
In a recent study by Richter and a Gallup Organization National Survey, in the U.S. the prevalence rate of symptomatic GERD is estimated to be around 25-40%. Furthermore, approximately 7-9% of the mature population in the U.S. experience such kind of symptoms on a daily basis. Although incidences are high among the adult population, few disease indications include erosive esophagitis, Barrett's esophagus, stricture, adenocarcinoma, and others for non-erosive reflux disease patients and complicated GERD patients.
Hospitals in the end-user segment generated maximum revenue in the global market. The utilization of top-end devices is gaining traction in diagnostic centers. Increased lifestyle diseases along with check-ups for heartburn and regurgitation symptoms will boost the overall market growth. Advancements in sphincter augmentation devices, RF devices, ultrasonic devices, and fundoplication GERD devices will further grow revenue globally in the end-user segment.
GERD is found to be more prevalent in the United States and Europe. In 2018, the United States produced maximum revenue in the GERD market due to an increase in the prevalence of chronic diseases, growing hospital admissions for diagnostics/surgery, and an increased need for fundoplication procedures and RF thermal ablation procedures. The North American region generated about 40% revenue share worldwide, increasing at a CAGR of 3.1% from 2019-2027. Major risk factors investigated for GERD include lifestyle factors such as smoking, dietary habits, consumption of carbonated drinks, alcoholic beverages, and tobacco. Although advancements in minimally invasive surgical procedures and therapy will drive market growth in the U.S., the introduction of advanced tools and devices will expand the services globally. For e.g. LINX magnetic system, EsophyX device, Stretta System device, and others.
In Asian countries and Latin America, increasing hospital infrastructure along with multispecialty diagnostic centers with improved treatment options will drive the market's overall growth. As a result, the overall prevalence rate is increasing from 1.5 to 3% in Asian countries; recent studies have shown an increase in diagnostic procedures in countries such as Japan, South Korea, Indonesia, the Philippines, and Singapore. Moreover, a few reflections from India also indicate a prevalence of 7.0 - 18.0%. However, the high cost of surgical procedures, less adoption of top-quality devices, economic constraints, less product expansion along with clinical outcomes, and unstructured reimbursement scenarios in a few of the emerging nations are a few of the limiting factors on a global scale.
This study report represents analysis for each segment from 2017 to 2027, considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.
The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities that give a better market understanding of the overall Multi-Parameter Patient Monitoring Equipment market. Additionally, the global report also comprises a graphical representation of the competitive landscape based on their market initiatives and strategies, product portfolio, and business strengths.
The market for Gastroesophageal Reflux Disease (GERD) Devices is expected to reach US XX Bn in 2028.
The Gastroesophageal Reflux Disease (GERD) Devices market is expected to see significant CAGR growth over the coming years, at 3.7%.
The report is forcasted from 2019-2027.
The base year of this report is 2018.
Olympus Corporation, Mederi RF Inc., Medtronic Plc., Diversatek Inc, EndoGastric Solutions, Pentax Medical, Torax Medical, Inc.,Medigus Ltd., C.R. Bard, Inc. are some of the major players in the global market.