With the rise in the number of diagnostic centers and clinics and healthcare infrastructure, a significant rise is seen in the demand for gastroesophageal reflux disease devices, and the momentum is expected to continue to grow during the forecast period.
The growing obese population due to the eating habits of individuals and intake of fatty dietary content are the major reasons for the prevalence of GERD diseases. In 2019, more than 1.9 billion adults 18 years and older, were overweight across the globe. Of these, over 650 million were obese, according to WHO. Besides, rapid escalation in the geriatric population and the incidence of unhealthy eating habits are some other factors contributing to the growth of GERD devices.
According to the MarkNtel Advisors’ research report, “Global Gastroesophageal Reflux Disease Devices Market Analysis, 2020”, the CAGR of global Gastroesophageal Reflux Disease Devices market is expected to be around 3.9% during 2020-25.
Increasing Occurrence of Obesity Worldwide
With the increasing prevalence of obesity with the inclusion of fat dietary products and non-healthy eating lifestyles, habits are the main reasons for GERD. North America had the highest number of obese people followed by Asia-Pacific in 2019. Males are expected to face higher gastroesophageal reflux diseases than any females. The GERD disease is estimated to occur generally after the age of 40. More than 40% of the world population was above 40 years of age in 2019, with several countries in Europe approaching the median age of 50. Therefore, these demographic trends are set to boost the sales of GERD devices.
North America Dominant Region in the GERD Devices
Every year around 80 million people face GERD symptoms of which 60 million people suffer from acid reflux and around 25 million individuals suffer from heartburn in the North America region. Around 20% of the U.S population faces GERD symptoms once a week. According to the World Gastroenterology Organisation, the prevalence of GERD symptoms is the most in North America followed by Asia-Pacific. Thus, North America grabbed the highest market share in the GERD devices market. The number of clinic patients visits has been escalating with the increasing geriatric population escalating the demand for GERD devices. Due to sedentary lifestyles, sleeping habits and frequent smoking and alcohol consumption have increased the demand for gastroesophageal reflux disease devices.
Asia-Pacific is witnessing a sturdy growth rate with rising geriatric population and increasing obesity with fat consumption in the countries such as China and India are the major factors for the growth in Asia-Pacific region as revealed by MarkNtel Advisors’ in their research report, “Global Gastroesophageal Reflux Disease Devices Market Analysis, 2020”.
According to the MarkNtel Advisors, the major leading players are Torax Medical, Inc., Pentax Medical, Medtronics Plc, MediGus Limited, Essai Co, Ltd., Medari Theraputics Inc., Takeda Pharmaceuticals Co. Ltd., Johnson & Johnson Services Inc., Olympus Corporation, Diversatek, Inc among others. Companies are following both organic and inorganic growth style for the expansion of businesses, for instance, Johnson and Johnson acquired Torax Medical in 2017 to facilitate Ethicon to offer LINX, an alternative to patients.
Recent developments and advancements are being made in improving the GERD devices market. The approval of Mederi’s Stretta Therapy for Gastroesophageal reflux disease is now available in China known as Strettta therapy.
“Global Gastroesophageal Reflux Disease Devices Market Analysis, 2020”, provides comprehensive qualitative and quantitative insights on the industry potential, key factors such as trends, drivers, hotspots and opportunities and challenges available for automotive ventilation seat providers across the globe. Moreover, the report also encompasses the key leading players in the industry, along with competitive benchmarking and competition matrix and company profiling.
1. By Product Type (Diagnostic Device, Monometry System, PH Monitoring Systems, Esophagoscopes and Gastro scopes, Treatment Devices, Ultrasonic Surgical Endostapler, Fundoplication Devices, Sphincter Augmentation Devices, Radio Frequency Ablation Devices)
2. By Procedure Type (Diagnostic Procedures, Fundoplication Procedure, Radiofrequency Thermal Ablation, Magnetic Sphincter Augmentation)
3. By End User (Hospital, Diagnostic Center, Ambulatory Surgical Centers)
4. By Device Type (MUSE- Medigus Ultrasonic Surgical Endostapler, LINX Management System, Stretta Therapy, Bravo Reflux Testing System, Digitapper Reflux Testing System, Others)
5. By Region (North America, Latin America, Europe, Middle East and Africa and Asia-Pacific)
6. By Country (United States, Canada, Mexico, Brazil, Argentina, Germany, Italy, United Kingdom, Spain, France, Saudi Arabia, UAE, China, India, Japan, ASEAN)
7. By Company (Torax Medical, Inc., Pentax Medical, Medtronics Plc, MediGus Limited, Essai Co, Ltd., Medari Theraputics Inc., Takeda Pharmaceuticals Co. Ltd., Johnson & Johnson Services Inc., Olympus Corporation, Diversatek, Inc)
Key questions answered in the study:
1. What are the current and future trends of the global Gastroesophageal Reflux Disease Devices market?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. What are the future plans and customer expectations of end-users across the globe?
4. How the competition has been shaping across the countries followed by their comparative factorial indexing?
5. What are the key growth drivers and challenges for the global Gastroesophageal Reflux Disease Devices industry?