March 13, 2020

Gastroesophageal Reflux Disease (GERD) Devices Market Size, Share, Growth, Trends, Analysis and Forecast 2019 to 2027

The latest market report published by Credence Research, Inc. “Gastroesophageal Reflux Disease (GERD) Devices MarketGrowth, Future Prospects, and Competitive Analysis, 2019 – 2027” the global GERD Devices market was valued at US$ 893.7in 2018, expected to grow at a CAGR of 3.7% during the forecast period from 2019 to 2027.

Market Insights

“Increasing prevalence of lifestyle diseases along with new FDA approval for GERD devices will enhance the market growth globally”

The global GERD devices market is increasing competently from 2019 to 2027 attributed to the rise lifestyle diseases, increasing obesity rate in the developed nations, launch & FDA approval of new devices and scopes. Additionally, increased diagnostic procedures along with endoscopy will further spur revenue growth. Esophy X, Linx, and Endocinch endoluminal gastroplication are few invasive methods applied globally. Noninvasive procedures utilized nowadays in the specialty clinics, for e.g. Stretta technique. Barium esophagram, Esophagogastroduodenoscopy, and manometry used in the diagnosis of GERD. The growing ageing population in the developed countries mainly in the U.S. and Western Europe with increased lifestyle disorders will drive the market globally.

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Gastroscopes and esophagoscopes generated maximum revenue in the product segment globally. Increased demand in the diagnostic centers will drive market growth. North America (the U.S) will be the leading regional markets for GERD. As per studies by World Gastroenterology Organization, the prevalence of GERD is high, ranging from 13.0 to 25% and 2 to 6.0% in Asia Pacific region. The increasing rate of obesity in the United States is one of the key factors driving the growth in North America. Additionally, high rates for heartburn symptoms, morning hoarseness, acid reflux, difficulty swallowing, pain in the chest and dry cough in the adult population will drive the need for GERD treatment.

The global GERD market driven by rising prevalence of chronic disorders and everyday lifestyle diseases. High cost of medical devices, cost of routine diagnosis, and less penetration of GERD devices in the developing nations is one of the key factors restraining the overall market growth. Asia Pacific region will show significant growth (mainly India, China, Japan, and Australia) along with improved medical infrastructure and large pool of adult population with GERD and other reflux related conditions.

Device manufacturers have enhanced their applications globally mainly in the diagnostic centers and hospitals industry; the small-scale device manufacturers are also increasing their capacity with low-cost services in Asian countries, South America and Europe region. Advancement in transoral incisionless fundoplication (TIF) procedures, radiofrequency thermal ablation, LINX® reflux management system and other surgical techniques will upsurge the market growth during the forecast period. Factors driving the market growth include increased medical tourism, partnerships of medical technology companies, new GERD device launch, and US FDA approval, increased awareness for GERD conditions, and new technology expansion in the emerging countries.

Key Market Movements:

  • Globally, the global market is growing at a CAGR of 3.7% for the period from 2019 to 2027
    • The evident growth factors include increasing prevalence of GERD in the U.S. (prevalence rate is high,7-25%), FDA approval, growing elderly population, and enhanced public awareness related to GERD and other lifestyle diseases
    • Market restrictions include high cost of devices and overall treatment, less adoption of GERD devices, unstructured medical coverage for surgical procedures, and less awareness in the overall global GERD devices market

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List of Companies Covered:

  • Olympus Corporation
    • Mederi RF, Inc.
    • Medtronic Plc.
    • Diversatek Inc
    • EndoGastric Solutions
    • Pentax Medical
    • Torax Medical, Inc.
    • Medigus Ltd.
    • C.R. Bard, Inc.
    • Others

Market Segmentation:

By Product Type

  • Diagnostic Devices

o Manometry System

o PH Monitoring System

  • Esophagoscopes and Gastroscopes
  • Treatment Devices

o Ultrasonic Surgical Endostapler

o Fundoplication Devices

o Sphincter Augmentation Devices

o Radiofrequency Ablation Devices

By Procedure Type Segment

  • Diagnostic Procedures
  • Fundoplication Procedures
  • Radiofrequency Thermal Ablation
  • Magnetic Sphincter Augmentation

By End User Segment

  • Hospitals
  • Diagnostic Centers
  • Ambulatory Surgical Centers

By Geography Segment Type (2017–2027; US$ Bn)

  • North America (the U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of the World (the Middle East & Africa, Latin America)

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About Credence Research (Original Publisher)

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