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The US$ 1.41 Billion Gastroesophageal Reflux Disease Treatment Devices Market is driven by Rising Prevalence of GERD Disorder

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naufan003
The US$ 1.41 Billion Gastroesophageal Reflux Disease Treatment Devices Market is driven by Rising Prevalence of GERD Disorder

The US$ 1.41 billion Gastroesophageal Reflux Disease Treatment Devices Market is experiencing significant growth attributed to increasing prevalence of GERD disorder worldwide. Gastroesophageal reflux disease (GERD) is a chronic condition where stomach acid and digestive enzymes back up from the stomach into the esophagus. This can cause burning sensation in the chest known as heartburn or acid indigestion. Symptoms can range from mild to severe depending on the severity and frequency of reflux. Popular GERD treatment devices available today include PPIs, H2 receptor blockers and Proton pump inhibitors which are primarily used for symptom relief and healing of esophagus. Endoscopic devices such as band ligators are used to apply bands across the lower esophageal opening to prevent reflux. Radiofrequency ablation devices utilize heat energy to strengthen the lower esophageal sphincter and prevent reflux.

The Global Gastroesophageal Reflux Disease Treatment Devices Market is estimated to be valued at US$ 1.41 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Gastroesophageal Reflux Disease Treatment Devices market are Google, Inc., Huawei Technologies Co. Ltd., Cisco Systems, Inc., Brocade Networking Solutions, Hewlett Packard Enterprise, Extreme Networks, Inc., Arista Networks, Avaya, Inc., Juniper Networks, Dell Inc., and Microsoft Corporation. These companies are investing aggressively in development of innovative and advanced GERD treatment devices.

Growing demand for minimally invasive procedures for GERD treatment is a major driver for market growth. Radiofrequency ablation and endoscopic suturing devices provide similar efficacy to laparoscopic fundoplication with reduced recovery time, making them an attractive option for patients.

Global expansion strategies adopted by key players through partnerships and acquisitions will further propel market revenues. Favorable regulatory approvals and reimbursement policies in developing nations will boost adoption of GERD treatment devices in new geographical regions.

Market drivers

Rising prevalence of obesity and lifestyle disorders associated with unhealthy eating habits have significant contributed to the rising incidence of GERD globally. According to clinical studies, obesity is a major risk factor which weakens the lower esophageal sphincter causing frequent reflux. Growing geriatric population is another key growth driver as people above 60 years have higher chances of developing acid reflux symptoms. Increased awareness about disease treatment options and availability of innovative device technologies will continue driving the demand for GERD treatment devices market during the forecast period.

Impact of Geopolitical Situation on Gastroesophageal Reflux Disease Treatment Devices Market Growth

The gastroesophageal reflux disease treatment devices market is seeing decent expansion worldwide. However, geopolitical tensions in some regions are posing challenges to market players and affecting business prospects. The ongoing Russia-Ukraine conflict has disrupted supply chains and demand patterns in Eastern Europe. Sanctions on Russia by Western nations have made it difficult for companies to carry out sales and service activities in the country. This is negatively impacting the revenues of firms that have a strong presence in Russia and Ukraine. Moreover, political uncertainties and economic troubles in certain countries of Latin America and Middle East & Africa are slowing the uptake of new medical technologies. Devices companies need to closely monitor the geopolitical dynamics and cautiously devise their market entry strategies in unstable regions. They also must diversify supplies and build alternate manufacturing/distribution networks to mitigate risks arising from geopolitical issues. Overall, addressing geopolitical challenges in a systematic way will be crucial for sustaining the healthy growth momentum of this industry over the coming years.

Geographical Regions with Highest Concentration of Gastroesophageal Reflux Disease Treatment Devices Market Value

North America accounts for the largest share of the global gastroesophageal reflux disease treatment devices industry in terms of revenue. Advanced healthcare infrastructure, rising obesity rates, growing elderly population susceptible to acid reflux disorders, and aggressive marketing by major players have boosted the North American market. The United States, in particular, holds a significant portion of the overall value due to high patient awareness levels and generous insurance coverage for many acid reflux conditions. Western Europe is another lucrative region for gastroesophageal reflux disease treatment devices, driven by favorable reimbursement scenarios and a growing number of medical centers offering endoluminal treatments. However, Asia Pacific is emerging as an important market with high unmet needs and increasing discretionary spends on healthcare.

Fastest Growing Regional Market for Gastroesophageal Reflux Disease Treatment Devices

Asia Pacific region displays immense future potential for gastroesophageal reflux disease treatment devices and is projected to witness the fastest expansion during the forecast period. This can be attributed to improving diagnostic rates, rising obesity issues, expanding medical tourism sector, and growing willingness among people to spend on gastric disorder treatments. Governments of various developing nations have implemented numerous public programs that support use of advanced medical equipment. Additionally, major companies are actively pursuing Asia Pacific through low-cost manufacturing and distribution partnerships with regional players to serve its massive patient base. The increasing efforts towards establishing superior gastrointestinal disease care infrastructure are creating new opportunities for devices companies in the Asia Pacific gastroesophageal reflux disease treatment industry.

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