AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
January 2024
Categories |
Back to Blog
Gastroesophageal reflux disease (GERD) is a very common condition where stomach contents and acid flow back into the esophagus. It causes heartburn and other symptoms. The devices help treat GERD by reinforcing the lower esophageal sphincter to prevent backflow of stomach acid or reduce the amount of acid produced in the stomach. Common GERD treatment devices include Nissen fundoplication systems, endoscopic implant systems, and radiofrequency-based ablation systems. These devices are minimally invasive and offer quicker recovery compared to open surgery.
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 Dynamics: One of the key drivers for the Gastroesophageal Reflux Disease Treatment Devices Market is the growing obese population globally. Obesity is a major risk factor for GERD due to excess weight pressure on the abdomen exerting pressure on the stomach. According to WHO, globally over 1.9 billion adults were overweight in 2016, and out of these over 650 million were obese. This indicates vast potential for endoscopic bariatric procedures which use anti-reflux devices along with it. Secondly, increasing preference for minimally invasive procedures is also fueling market growth. Minimally invasive surgeries have benefits such as less trauma, reduced hospital stay, and quick recovery. This has increased adoption of endoscopic devices and systems for GERD treatment over open surgeries. Segment Analysis The gastroesophageal reflux disease treatment devices market is segmented based on product type and end-user. By product type, the market is divided into pacing systems, sphincter augmentation devices, and bravo monitoring systems. The bravo monitoring systems segment is dominating currently due to their high effectiveness in diagnosing acid reflux without involving invasive procedures. PEST Analysis Political: The market is positively impacted by the increasing healthcare expenditure by various governments worldwide to provide better treatment facilities for acid reflux disease. Economic: The rising disposable income levels have increased the demand for advanced treatment procedures for gastrointestinal disorders across the globe. Social: Growing awareness about various diagnostic and treatment options for acid reflux disease available in the market is propelling the demand. Technological: Continuous innovations in products, enabling minimally invasive procedures, are expanding the application areas of these devices. 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 prevalence of acid reflux disorder. Regionally, North America dominated the market and is expected to continue its dominance during the forecast period, owing to the rising cases of acid reflux disease and growing adoption of modern treatment procedures in the region. Key players operating in the gastroesophageal reflux disease treatment devices market include Medtronic plc, EndoGastric Solutions, Inc., Johnson & Johnson, and Torax Medical, Inc. Medtronic plc offers Bravo pH Monitoring System for evaluating acid refluxwhile EndoGastric Solutions provides TIF procedures using EsophyX device to treat GERD. North America is anticipated to be the largest as well as the fastest-growing regional market over the forecast period. The high prevalence of acid reflux disease coupled with the increasing awareness about various diagnostic and treatment approaches available is stimulating the demand in the region. Some of the key players in the North America market are Medtronic, Johnson & Johnson, and Torax Medical. Key players operating in the gastroesophageal reflux disease treatment devices market include Medtronic plc, EndoGastric Solutions, Inc., Johnson & Johnson, and Torax Medical, Inc. Medtronic offers Bravo pH Monitoring System while EndoGastric Solutions provides TIF procedures using EsophyX device. Johnson & Johnson offers The EndoCinch System for endoscopic treatment of GERD. Torax Medical provides the LINX device, a small flexible band of interlinked titanium beads wrapped around the lower esophageal sphincter to prevent acid reflux. Get more insights on this topic: https://www.dailyprbulletin.com/gear-reducer-market-market-size-and-share-analysis/
0 Comments
Read More
Leave a Reply. |