Gastroesophageal reflux disease (GERD) is a digestive disorder that affects the lower esophageal sphincter (the muscle between the esophagus and stomach). It allows stomach acid to flow back into the tube connecting the mouth and stomach (esophagus), causing a burning sensation in the chest and/or throat known as acid reflux. GERD is commonly treated through lifestyle changes and over-the-counter or prescription medications that reduce stomach acid. For patients whose symptoms are not adequately controlled with medications, endoscopic procedures and surgeries may be considered to reinforce the lower esophageal sphincter.
The global Gastroesophageal Reflux Disease Treatment Devices Market is estimated to be valued at Us$ 3.5 Bn or Mn in 2023 and is expected to exhibit a CAGR Of 11% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The increasing prevalence of GERD across the globe is expected to act as a major driver for the gastroesophageal reflux disease treatment devices market growth over the forecast period. According to the National Institute of Diabetes and Digestive and Kidney Diseases (NIDDK), approximately 18-21 million Americans experience symptoms of GERD monthly. Suboptimal control of GERD symptoms with medications is another factor fueling the demand for devices for GERD treatment. Various devices including Stretta, LINX, magnetic sphincter augmentation system are used to reinforce the lower esophageal sphincter and provide long-term relief from GERD symptoms. Growing awareness regarding the availability of endoscopic options for GERD treatment and increasing preference for minimally invasive procedures over surgeries are factors expected to boost the gastroesophageal reflux disease treatment devices market. High costs associated with surgical treatment of GERD such as Nissen fundoplication and technical complexity involved in usage of certain devices are factors expected to restrain the market growth.
SWOT Analysis
Strength: The Gastroesophageal Reflux Disease Treatment Devices Market is experiencing growth opportunities due to the rising prevalence of GERD diseases globally. The rising awareness regarding the availability of different treatment devices for GERD has boosted the market growth. The development of advanced anti-reflux devices with improved efficacy has gained popularity.
Weakness: High costs associated with GERD treatment devices and surgeries limit their adoption in developing regions. Lack of awareness in rural areas also impacts the market potential. Reimbursement issues create financial barriers for patients.
Opportunity: The demand for minimally invasive surgical treatment devices offers scope for market expansion. Growing healthcare expenditure can increase the affordability of devices over time. Rising medical tourism in Asia increases the patient pool seeking quality GERD treatment.
Threats: Alternative treatment options like medications pose competition. Side effects and complications associated with devices act as deterrents. Stringent regulatory approvals delay product launches.
Key Takeaways
The Global Gastroesophageal Reflux Disease Treatment Devices Market Demand is expected to witness high growth. The rising awareness regarding treatment options and growing healthcare spending in major markets will drive the adoption of advanced anti-reflux devices.
Regional analysis:
The Asia Pacific region provides massive growth opportunities for GERD treatment device manufacturers due to the increasing patient population and improving access to advanced care in China, India, and other Association of Southeast Asian Nations (ASEAN) countries. Other Asia Pacific countries also exhibit high potential for future adoptions.
Key players operating in the Gastroesophageal Reflux Disease Treatment Devices market are Medtronic, Johnson & Johnson, Torax Medical, Boston Scientific Corp, EndoGastric Solutions.
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