by Gastroesophageal reflux disease treatment devices are used for the treatment of GERD which is a condition where the stomach contents, including stomach acids, flow back into the esophagus causing irritation. These devices help in reducing the reflux of acid from the stomach to esophagus thereby protecting the esophagus.
The global Gastroesophageal Reflux Disease Treatment Devices Market is estimated to be valued at US$ 1.22 Bn in 2023 and is expected to exhibit a CAGR of 4.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
According to WHO obesity rates have tripled since 1975 globally. Obese people are more prone to GERD due to additional pressure on abdomen caused by excessive weight. Growing geriatric population is another factor fueling the demand as old age people are more vulnerable to GERD. In addition, increasing adoption of minimally invasive procedures for GERD treatment over conventional surgery is propelling the market growth. Technological advancements in medical devices have led to development of innovative endoscopic procedures reducing complication risks and hospital stay of patients.
Segment Analysis
The global gastroesophageal reflux disease treatment devices is dominated by the proton pump inhibitors sub-segment. Proton pump inhibitors help block acid production in the stomach and are highly effective in reducing symptoms of acid reflux. Their strong efficacy and non-invasive nature make them a preferred first line treatment option for gastroesophageal reflux disease.
Key Takeaways
The Global Gastroesophageal Reflux Disease Treatment Devices Market Size is expected to witness high growth, exhibiting CAGR of 4.3% over the forecast period, due to increasing incidence of gastroesophageal reflux disease worldwide.
Regional analysis:
North America is expected to dominate the global gastroesophageal reflux disease treatment devices market over the forecast period. This is attributed to growing availability of device based treatment options such as Stretta procedure in the region. Europe is also expected to capture a significant market share owing to rising demand for innovative treatment options complementing lifestyle changes.
Key players:
Key players operating in the gastroesophageal reflux disease treatment devices market are Medtronic plc, EndoGastric Solutions, Inc., Johnson & Johnson, and Torax Medical, Inc. The global gastroesophageal reflux disease treatment devices market is fragmented in nature with presence of these established players.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
