Focus On Patient Comfort and Efficacy Boosts Demand for Gastroesophageal Reflux Disease (GERD) Devices. Gastroesophageal Reflux Disease (GERD) Device Market to Evolve at a CAGR of 3.6% from 2024 to 2034.
NEWARK, DE / ACCESSWIRE / July 10, 2024 / The global gastroesophageal reflux disease (GERD) device market size is poised for significant growth, acquiring USD 1207.3 million in 2024. The demand for gastroesophageal reflux disease (GERD) devices is expected to exhibit a CAGR of 3.6% from 2024 to 2034. By 2034, the sales of gastroesophageal reflux disease (GERD) devices are anticipated to achieve a valuation of USD 1719.5 million.
The gastroesophageal reflux disease (GERD) device market is envisioned to develop significantly due to the rising prevalence of GERD and the increased usage of minimally invasive methods. GERD devices provide an alternative to medication and traditional surgery, increasing demand among patients looking for long-term relief.
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Technological advances in device design, such as increased durability and efficacy, help to boost the gastroesophageal reflux disease (GERD) device market growth. The expanding senior population with GERD causes GERD device market expansion.
Stringent regulatory approval processes and restrictive reimbursement policies impede the market growth of gastroesophageal reflux disease (GERD) devices. Strategic alliances and product innovations by leading gastroesophageal reflux disease (GERD) device manufacturers are expected to alleviate these constraints and support market expansion. The GERD device market is likely to rise significantly.
Regional Outlook:
The rise in the incidence of GERD in Asia Pacific stimulates demand for GERD devices, with lifestyle changes and food habits contributing to the increase.
In Europe, digital health technology in GERD care is gaining traction, allowing for remote monitoring and increasing patient engagement in their treatment path.
High healthcare spending and a well-established healthcare system in North America promote rapid developments in GERD device technology, emphasizing improving patient outcomes.
"Due to the increasing global prevalence of GERD, the gastroesophageal reflux disease (GERD) device market is expected to rise. Market expansion of GERD device is anticipated to be propelled by advancements in minimally invasive technologies and increasing demand for non-pharmacological treatment choices."- opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI).
What Key Factors Are Bolstering Demand For GERD Devices?
"Growing Number of Clinical Trials to Push Demand for Gastroesophageal Reflux Disease Devices"
Increasing Geriatric Population
Esophagus malfunctioning in the geriatric population is associated with the disturbances associated with esophageal motility and a decreased production of saliva. The increasing geriatric population will thus remain an important factor driving the gastroesophageal reflux disease devices market.
Some of the frequently consumed medications such as bisphosphonates, non-steroidal anti-inflammatory drugs (NSAIDs), and potassium tablets often affect the esophageal motility and the lower esophageal sphincter's functionality, which in turn is responsible for the demand growth of gastroesophageal reflux disease devices.
Sedentary Lifestyle Shift
Several environmental factors and the prominent lifestyle evolution to sedentary habits such as a high dietary fat intake, shorter dinner-to-bed time, and frequent smoking and alcohol consumption have been proven as the high-risk factors associated with the prevalence of gastroesophageal reflux diseases.
Lack of adequate physical activity, coupled with increasing body mass index and obesity, are likely to continue fueling the instances of gastroesophageal reflux diseases, thereby generating demand for GERD devices.
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Key Takeaways:
In the product category, the esophagoscopes and gastroscopes segment to acquire a market share of 90% in 2024.
The diagnostic procedures segment in the procedure category to grab a share of 68% in 2024.
From 2024 to 2034, the India gastroesophageal reflux disease (GERD) device industry is projected to strengthen at a 5.2% CAGR.
Thailand gastroesophageal reflux disease (GERD) device sales are expected to surge at a CAGR of 5.0% through 2034.
Through 2034, the Indonesia GERD device market is expected to expand at a CAGR of 3.4%.
Between 2024 and 2034, the Malaysia gastroesophageal reflux disease (GERD) device industry is projected to evolve at a CAGR of 4.6%.
Through 2034, the United States gastroesophageal reflux disease (GERD) device market is expected to expand at a CAGR of 2.6%.
Sales of gastroesophageal reflux disease (GERD) devices in Canada are forecast to rise at a CAGR of 2.9% until 2034.
The Spain GERD device market is expected to evolve at a CAGR of 2.9% between 2024 and 2034.
The France gastroesophageal reflux disease (GERD) device market anticipates flourishing at a CAGR of 2.3% between 2024 and 2034.
The Germany GERD device market is projected to exhibit growth between 2024 and 2034 at a CAGR of 1.9%.
Sales of gastroesophageal reflux disease (GERD) devices in Italy are expected to rise at a CAGR of 2.0% until 2034.
The United Kingdom's gastroesophageal reflux disease (GERD) device industry is expected to experience expansion at a CAGR of 1.6% through 2034.
Competitive Landscape:
Prominent gastroesophageal reflux disease (GERD) device providers continue strategically concentrating on joint ventures and the distribution expansion of diverse products. To improve the treatment of diseases, leading gastroesophageal reflux disease (GERD) device vendors for the condition focus on technological innovation.
Latest Developments:
China approved Peptest, a non-invasive radiofrequency device developed by RD Biomed to diagnose reflux devices. The gadget aids in the general management of reflux-related gadgets and finds pepsin in saliva samples.
The EsophyX Z gastroesophageal reflux disease device, used to conduct transoral incisionless fundoplication, is an upgraded and newer model of the EsophyX device.
Which Region Is Becoming An Attractive Market For Gastroesophageal Reflux Disease Device Manufacturers?
"Rapid Innovations in Minimally-Invasive SurgeriesDriving Market Growth in North America"
North America will remain the largest regional market for gastroesophageal reflux disease devices. Advancements in minimally invasive surgeries and the development of advanced instruments and technologies are driving the market growth in North America.
The rising number of persons suffering from GERD in the region will have a favorable impact on the market.
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Prominent Gastroesophageal Reflux Disease (GERD) Device Vendors:
Olympus Corporation
Pentax Medical
KARL STORZ SE and Co KG.
Medtronic Plc
Fujifilm Holdings Corporation
EndoGastric Solutions
Medigus Ltd.
Diversatek Inc.
Key Segments
By Product:
Diagnostic Devices
Manometry Systems
PH Monitoring Systems
Esophagoscopes and Gastroscopes
Treatment Devices
Ultrasonic Surgical Endostaplers
Fundoplication Devices
Sphincter Augmentation Devices
Radiofrequency Ablation Devices
By Procedure:
Diagnostic Procedures
Fundoplication Procedures
Radiofrequency Thermal Ablation
Magnetic Sphincter Augmentation
By End User:
Hospitals
Diagnostic Centers
Ambulatory Surgical Centers
By Region:
North America
Latin America
Europe
East Asia
South Asia and Pacific
Middle East and Africa (MEA)
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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