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Gastroesophageal Reflux Disease (GERD) Market Size, Share And Trends Report 2024 To 2033
Gastroesophageal Reflux Disease (Gerd) Market Share
According to The Business Research Company's, the gastroesophageal reflux disease (gerd) market size has grown marginally in recent years. It will grow from $5.15 billion in 2023 to $5.25 billion in 2024 at a compound annual growth rate (CAGR) of 2.0%. The growth in the historic period can be attributed to lifestyle and dietary changes, obesity epidemic, growing awareness about gerd treatment, globalization of pharmaceutical industry, investments for gerd treatments.
The gastroesophageal reflux disease (gerd) market size is expected to see steady growth in the next few years. It will grow to $5.74 billion in 2028 at a compound annual growth rate (CAGR) of 2.3%. The growth in the forecast period can be attributed to aging population, rising healthcare spending, emergence of biomarker, growing number of screening programs for gerd, increasing prevalence of heartburn, increased demand for medical equipment. Major trends in the forecast period include diagnostic advancements, surgical advancements, development of targeted therapies, adoption of telehealth services .
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Market Drivers and Trends:
The growing prevalence of esophageal diseases is expected to propel the growth of the gastroesophageal reflux disease (GERD) market going forward. Esophageal diseases are medical conditions that affect the esophagus, a muscular tube connecting the mouth to the stomach. The treatment of esophageal diseases aims to alleviate symptoms, improve quality of life and prevent complications, ultimately promoting better overall health and well-being for gastroesophageal reflux disease-affected individuals. For instance, in January 2023, according to the American Cancer Society, a US-based Professional organization, about 21,560 new esophageal cancer cases are diagnosed yearly in the United States, with 16,120 deaths from esophageal cancer. Therefore, the growing prevalence of esophageal diseases drives the growth of the gastroesophageal reflux disease (GERD) market.
Major companies operating in the gastroesophageal reflux disease (GERD) market are focusing on introducing innovative gastroesophageal reflux disease treatment devices to sustain their position in the market. For instance, in April 2023, Laborie Medical Technologies, a US-based medical technology company, launched the new alpHaONE wireless pH-capsule reflux testing diagnostic system designed for diagnosing gastroesophageal reflux disease (GERD). The system provides up to 96 hours of monitoring data and offers a compact design with enlarged buttons and a fail-safe capsule delivery system. The system features a software application with a virtual instruction program and user-customizable symptom buttons for improved user experience.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
GlaxoSmithKline PLC, SRS Life Sciences, Johnson & Johnson Services Inc., Takeda Pharmaceutical Company Limited, AstraZeneca PLC, Reckitt Benckiser Group PLC, Eisai Co. Ltd., Pfizer Inc., Medtronic PLC, Teva Pharmaceuticals, HK inno.N Corporation, Sebela Pharmaceuticals, Mylan N.V., Bausch Health Companies Inc., Johnson & Johnson MedTech, Eisai Co. Ltd., Sun Pharmaceutical Industries Ltd., Perrigo Company PLC, Dr. Reddy's Laboratories Ltd., Aurobindo Pharma Limited, Cipla Limited, Ferring B.V., Amneal Pharmaceuticals LLC, Zydus Lifesciences Ltd., Lupin Limited, Torrent Pharmaceuticals Ltd., Salix Pharmaceuticals Inc., Almirall S.A., HK inno.N Corporation, SRS Life Sciences Pte. Ltd.
Gastroesophageal Reflux Disease (GERD) Market 2024 Key Insights:
• The gastroesophageal reflux disease (gerd) market is expected to grow to $5.74 billion in 2028 at a compound annual growth rate (CAGR) of 2.3%.
• Alcohol Consumption-Driven Expansion Of The Gastroesophageal Reflux Disease (GERD) Market
• Innovative Gerd Treatment Technologies Shape The Market
• North America was the largest region in the gastroesophageal reflux disease (GERD) market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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