Rising geriatric population, growing demand for over-the-counter and generic drugs, and increased investments in pharmaceutical R&D programs are some of the key factors driving market growth
According to Emergen Research, the global GERD drugs and devices market size was USD 5.21 billion in 2020 and is expected to reach USD 6.28 billion in 2028 and register a revenue CAGR of 2.3% during the forecast period, 2021-2028.
Market Dynamics:
The global GERD drugs and devices market revenue growth is majorly driven by factors such as increasing prevalence of gastrointestinal diseases including GERD (gastroesophageal reflux disease) worldwide, significant changes in lifestyle such as rising stress levels and excessive consumption of alcohol, fast food, and aerated drinks, rising awareness of the disease, and growing trend of self-medication. GERD, also known as acid reflux, is a chronic digestive disease in which the bile (stomach acid) flows into and irritates the lining of the food pipe. One of the main symptoms of the disease is frequent heartburn (burning pain in the chest). Gastroesophageal reflux disease can be treated with prescription medications such as Nizatidine and Famotidine (Pepcid), as well as antacids such as Mylanta, Tums, and Rolaids. However, the disease could lead to severe conditions such as esophagitis (swelling of the esophagus), ulcers, and Barrett’s esophagus if left untreated.
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Revenue growth of the global GERD drugs and devices market is further driven by rise in geriatric population, increasing demand for over-the-counter and generic drugs for GERD, increasing volumes of diagnostic and surgical procedures, and rising investments in R&D programs in the pharmaceutical sector. However, market revenue growth is hampered to a significant extent due to factors such as potential side-effects of drugs and adverse effects of PPIs.
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Antacids Drug Type Segment Accounted for Largest Revenue Share in 2020:
Based on drug type, the antacids segment dominated other segments in terms of revenue share in the global GERD drugs and devices market in 2020. Antacids are medications that neutralize the stomach acid and relieve heartburn, sour stomach, upset stomach, and acid indigestion. Some common examples of antacids include Gelusil, Gaviscon, Maalox, Mylanta, Rolaids, Pepto-Bismol, calcium carbonate, aluminum hydroxide gel, and magnesium hydroxide. Growing geriatric population, rising occurrence of gastroesophageal reflux disease, and increasing demand for over-the-counter and generic drugs are among the major factors bolstering revenue growth of this segment.
Asia Pacific to Account for Fastest Revenue CAGR:
Among the regional markets, the Asia Pacific GERD drugs and devices market is expected to register the fastest revenue growth rate in the global market over the forecast period, owing to factors such as rising prevalence of gastrointestinal diseases such as GERD, increasing number of diagnostic and surgical procedures, increasing health awareness among people, and rising sales of over-the-counter and generic drugs. Rapidly advancing healthcare infrastructure, rising preference for minimally invasive surgeries, and development of advanced devices and solutions for disease diagnosis and treatment are other major factors expected to drive the Asia Pacific market revenue growth over the forecast period.
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Major Companies in the Global GERD Drugs and Devices Market Include:
- Johnson & Johnson
- AstraZeneca PLC
- Takeda Pharmaceutical Company Limited
- Pfizer Inc.
- Novartis AG
- GlaxoSmithKline Plc
- Merck & CO., Inc.
- Boston Scientific Corporation
- Eisai Co., Ltd.
- Ironwood Pharmaceuticals, Inc.
- Addex Therapeutic
- Takeda Pharmaceutical Company Limited
- Rottapharm (Meda AB)
- The Procter & Gamble Company
- Torax Medical Inc.
- Mederi Therapeutics
- Aros Pharma
- R. Bard, Inc.
- EndoGastric Solutions
- Medigus Ltd.
For the purpose of this report, Emergen Research has segmented the global GERD drugs and devices market based on route of administration, drug type, device type, and region:
Route of Administration Outlook (Revenue, USD Billion; 2018-2028)
- Oral
- Parenteral
Drug Type Outlook (Revenue, USD Billion; 2018-2028)
- H2 Receptor Antagonist
- Proton Pump Inhibitors (PPIs)
- Antacids
Device Type Outlook (Revenue, USD Billion; 2018-2028)
- MUSE – Medigus Ultrasonic Surgical Endostapler
- LINX Management System
- Stretta Therapy
- Bravo Reflux Testing System
- Digitrapper Reflux Testing System
- Others
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By Region (Revenue, USD Billion; 2018–2028)
- North America
- S.
- Canada
- Mexico
- Europe
- Germany
- France
- K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
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