February 25, 2024

The Global Gastroesophageal Reflux Disease Treatment Devices Market Driven By Rise In Chronic Diseases

Gastroesophageal reflux disease (GERD) is a chronic digestive disease that occurs when stomach acid or bile flows back into the esophagus, the tube that connects the throat to the stomach. GERD treatment devices are specially designed devices that support relief from GERD symptoms by preventing the reflux of stomach contents. Common GERD treatment devices include proton pump inhibitors, H2 receptor blockers, anti-reflux valves, and transoral incisionless fundoplication devices. Proton pump inhibitors and H2 receptor blockers work by reducing the amount of acid produced in the stomach, while anti-reflux valves mechanically prevent stomach contents from entering the esophagus. Transoral incisionless fundoplication devices perform a minimally invasive treatment to reinforce the lower esophageal sphincter. GERD treatment devices provide effective relief from troublesome symptoms like heartburn and regurgitation for millions of people suffering from chronic acid reflux.

The global Gastroesophageal Reflux Disease Treatment Devices Market is estimated to be valued at US$ 4.5 Billion in 2023 and is expected to exhibit a CAGR Of 11% over the forecast period 2023-2033, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

 

One of the key trends in the Gastroesophageal Reflux Disease Treatment Devices Market is the increasing preference for minimally invasive treatment procedures. Transoral incisionless fundoplication stands out as a revolutionary minimally invasive treatment for GERD, offering relief from daily PPI use through a painless outpatient procedure. Compared to lifelong medication with proton pump inhibitors, transoral incisionless fundoplication provides durable resolution of reflux symptoms through strengthened sphincter functions. Its non-invasive nature and fast recovery time has led to rapid adoption among GERD patients seeking long-term treatment alternatives. Furthermore, continued technological advancements are enabling wider availability of these procedures through portable endoscopic devices. This increasing access to minimally invasive options is expected to significantly drive the future growth of the GERD treatment devices market.

 

Porter’s Analysis

Threat of new entrants: The threat of new entrants in the gastroesophageal reflux disease treatment devices market is low as significant capital investments and FDA approvals are required to enter this market.

Bargaining power of buyers: The bargaining power of buyers is moderate as the demand for GERD treatment devices is growing but there are many existing players in the market.

Bargaining power of suppliers: The bargaining power of suppliers is moderate since there are many component manufacturers and raw material suppliers in this market.

Threat of new substitutes: The threat of new substitutes is low as there are limited treatment options available for GERD currently.

Competitive rivalry: The competitive rivalry is high among the existing players in the gastroesophageal reflux disease treatment devices market.

Key Takeaways

The Global Gastroesophageal Reflux Disease Treatment Devices Market Demand is expected to witness high growth.

North America is expected to dominate the market due to the rising prevalence of GERD in the region. The availability of advanced healthcare facilities and growing adoption of minimally invasive surgeries are also supporting market growth in this region.
Europe is also expected to have a significant share in the GERD treatment devices market. This can be attributed to the increasing investments for research and development activities by key players. The growing demand for endoscopic surgeries and rising cases of GERD are further driving the European market.

Key players operating in the gastroesophageal reflux disease treatment devices market are Medtronic, Johnson & Johnson, Torax Medical, EndoGastric Solutions, and Becton, Dickinson and Company. Medtronic offers Linx Reflux Management system for the treatment of GERD. Torax Medical provides devices such as LINX, EsophyX, and TransOral Incisionless Fundoplication (TIF) 2.0.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it