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Reflux Testing Products Market Analysis, Trends, Growth, Research And Forecast 2033
Reflux Testing Products Market Analysis
According to The Business Research Company's, The reflux testing products market size has grown steadily in recent years. It will grow from $3.25 billion in 2023 to $3.41 billion in 2024 at a compound annual growth rate (CAGR) of 4.8%. The growth in the historic period can be attributed to increased gerd prevalence, awareness and diagnostic trends, advancements in medical imaging and diagnostics, increased healthcare expenditure, patient preference for non-invasive tests..
The reflux testing products market size is expected to see steady growth in the next few years. It will grow to $4.14 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to integration with multimodal diagnostics, global health initiatives for digestive health, telemedicine and remote monitoring trends, collaborative research in gastroenterology.. Major trends in the forecast period include shift towards ambulatory monitoring, collaborations and partnerships, reimbursement policies and healthcare regulations, global economic factors..
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Market Drivers and Trends:
The high prevalence of Barrett's esophagus is expected to propel the growth of the reflux testing products market going forward. Barrett's esophagus is a disorder wherein acid reflux damages the flat pink lining of the esophagus, the tube that connects the mouth to the stomach, causing it to thicken and turn red. When the lesion heals, the columnar epithelium replaces the normal squamous epithelium, a characteristic of Barrett's esophagus. A higher risk of esophageal cancer is linked to Barrett's esophagus. An increase in the incidence of Barrett's esophagus will contribute to the growth of reflux testing products. For instance, in January 2023, according to the National Centre for Biotechnology Information publication, 5.6% of adults are thought to have Barrett's esophagus in the United States. Barrett esophagus can result in an annual diagnosis of esophageal cancer in 1 in 416 people (0.24%). Therefore, the high prevalence of Barrett's esophagus is driving the growth of the reflux testing products market.
Product innovation is a key trend gaining popularity in the reflux testing products market. Major companies operating in the reflux testing products market are adopting new technologies to sustain their position in the market. For instance, in April 2023, Laborie, a Canada-based Medical Equipment & Devices company, launched alpHaONE, an Innovative GERD Diagnostic System. alpHaONE is a wireless pH-capsule reflux testing system that offers up to 96 hours of monitoring data. alpHaONE has a small, ergonomic design with large, simple-to-press buttons. A fail-safe capsule distribution system is also included to safeguard patients' esophagus. The company had software in the alpHaONE system that incorporated a virtual instruction program to help with navigation. The pH-capsule reflux testing device provides a seamless user experience with user-customizable symptom buttons and automatic pH data processing.
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Major Key Players of the Market:
Medtronic Inc.; Biomedix Optotechnik And Devices Private Limited; Sierra Scientific Instruments; Respiratory Technology Corporation; AstraZeneca plc; Ironwood Pharmaceuticals Inc.; Johnson & Johnson Services Inc.; Sebela Pharmaceuticals; Diversatek Healthcare; Danish multinational technology company; Phathom Pharmaceuticals; Controls Group's; Takeda Pharmaceutical Company Limited; Acino International AG; SKG Internationals; Restech; Sandhill Scientific; Mui Scientific; Reza Band; Dr. Frigz International; MMS Medical; Medovations; Given Imaging; Crospon; Mederi Therapeutics; EndoGastric Solutions; C. R. Bard Inc.; Interscope Inc.; Medline Industries Inc.; Alba Diagnostics
Reflux Testing Products Market 2024 Key Insights:
• The reflux testing products market size will grow to $4.14 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%.
• Surge In Barrett's Esophagus Prevalence Fuels Growth In The Reflux Testing Products Market
• Laborie Unveils Alphaone, Revolutionizing Gerd Diagnosis With Advanced Reflux Testing System
• North America was the largest region in the reflux testing products 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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