BLOOMINGTON, Minnesota, May 18, 2017 /PRNewswire/ --
According to a new market intelligence report by BIS Healthcare, titled "Global Drugs and Devices GERD Market, Analysis & Forecast, 2017 - 2022", the global market is expected to reach $5.56 billion by 2023. With the advent of generics & OTC products, the growth in Gastroesophageal reflux disease (GERD) drugs market has decreased. The absence of patent protected and new regulatory approved medicines are the restraints for the growth of this market. The global GERD drugs market has a nominal growth potential in future and will account to $5.38 billion by 2023.
Acquisition of Torax Medical in February 2017 will certainly facilitate Ethicon to offer LINX, a small implantable alternative to patients and ultimately strengthen Johnson & Johnson's position in GERD market. Also, with the approval of Mederi's Stretta Therapy for GERD in China, Stretta therapy is now available to the China population. These are the key developments that recently took place in the GERD market.
Gastroesophageal reflux disease (GERD) is a chronic and highly prevalent medical problem. Despite the marked developments in medical, endoscopic and surgical therapy, there are several areas in the therapeutic management of GERD with a great number of unmet medical needs, such as, advanced grades of erosive esophagitis, non-erosive reflux disease (NERD), maintenance treatment of erosive esophagitis and refractory GERD. The prevalence of acid reflux and related symptoms has increased across the globe by nearly 50% over the last decade. Studies have demonstrated that 20% of the U.S. adult population reported GERD related symptoms (heartburn and acid regurgitation) at least once a week. As per systematic reviews of epidemiological studies, the prevalence of reflux esophagitis in patients with GERD is between 10% and 25% in the western countries and between 5% and 17% in Asian and Pacific countries.
The increasing demand of medical devices has prompted various companies to focus on new product developments and innovations, and further implement other market developments as well. In this context, major companies are adopting acquisitions, partnerships and collaboration strategies to strengthen their position among other players.
BIS Research Report:
According to Abdul Wahid, Lead Analyst at BIS Research, "Due to side effects of drugs in the long-term use, patients who fail to respond to medication, and the availability of new technology, the devices market is set to grow in the future, showing a high growth potential, with a CAGR of 15.3% from 2017 to 2023."
The devices are classified as invasive and non-invasive based on the procedures followed. Invasive procedures include LINX management system & MUSE, while the non-invasive include EsophyX, Endostim, Stretta, Durasphere, GERD-X. The diagnostic devices include Bravo reflux management system and Digitrapper. The key players in the device market are Endogastric Solutions, Medigus Ltd., Medtronic Plc, Carbon Medical technologies, Johnson & Johnson etc. The gold standard in surgery for the treatment of GERD is Nissen Fundoplication.
This report is a meticulous compilation of research on more than 50 players in the GERD ecosystem and draws upon insights from in-depth interviews of key opinion leaders, market participants and vendors.
What will be the market size in terms of revenue from 2016 to 2023 for the global GERD Drugs and Devices market?
What is the market size in terms of revenue for devices such as LINX management system, MUSE, Stretta, Bravo reflux management system and Digitrapper in the global GERD Drugs and Devices market?
Which device type will dominate the market during the forecast period?
What is the market size in terms of revenue generated from different drug class with respect to geographical regions in the global GERD Drugs and Devices market?
Which regions will lead the global GERD Drugs and Devices market by the end of the forecast period?
What are the major market drivers, challenges and opportunities of the global GERD Drugs and Devices market?
What will be the market shares of drugs & devices of the global GERD market by 2023?
How will the market share of the leading companies change in 2016 and which country will lead the market in 2017?
What are the new strategies adopted by the existing market players to make a mark in the industry?
About BIS Research:
BIS Research (Business Intelligence and Strategy Research) is a global B2B market intelligence and advisory firm which focuses on those emerging trends in technology which are likely to disrupt the dynamics of the market.
With over 150 market research reports published annually, BIS Research focuses on high technology verticals such as 3D printing, advanced materials & chemicals, aerospace and defense, automotive, healthcare, electronics & semiconductors, robotics & UAV and other emerging technologies.
Our in-depth market intelligence reports focus on the market estimations, technology analysis, emerging high-growth applications, deeply segmented granular country-level market data and other important market parameters useful in the strategic decision making for the senior management.
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