Gastroesophageal Reflux Disease Therapeutics Market
Market Insights on Gastroesophageal Reflux Disease Therapeutics covering sales outlook, demand forecast & up-to-date key trends
Gastroesophageal Reflux Disease Therapeutics Market: Global Industry Analysis and Opportunity Assessment 2022-2032
Gastroesophageal Reflux Disease Therapeutics Market Overview
The global market for GERD therapies, which was estimated at US$ 4.7 Billion in 2022 and it is predicted to have a revenue reduction to USD 3.4 Billion by 2032, declining at a CAGR of 3%. The decline of this gastroesophageal reflux disease therapeutics market is mostly due to the patent expiration of popular medications used to treat diseases of acid reflux.
Gastroesophageal Reflux Disease Therapeutics Market Size Value (2022)
US$ 4.7 Billion
Gastroesophageal Reflux Disease Therapeutics Market Size Value (2032)
US$ 3.4 Billion
Gastroesophageal Reflux Disease Therapeutics Market Growth Rate (2022-2032)
Although gastroesophageal reflux disease therapeutics devices provide an alternate method for treating heartburn, such devices have indeed been unsuccessful in clinical studies and have poor clinical outcomes. As a result, the limited uptake of GERD management devices has led to a rise in demand for acid-neutralizing medications as the main treatment strategy.
Even though the gastroesophageal reflux disease therapeutics business turnover has been impacted by the expiration of significant patents, the demand for the acid-reducing medications market segment is anticipated to rise in the future years as heartburn prevalence increases globally.
On the other hand, gastroesophageal reflux disease therapeutics devices for minimally invasive surgeries to address inherent anatomical deformities are slowly but surely gaining ground with evolving supportive medical proofs for devices to carry out the treatment. Numerous generic gastroesophageal reflux disease therapeutics competitors are also active in this industry, competing to replace the out-of-date bestselling medications with replicas in an effort to increase their market share.
Market Players Experiment with New Generic Compounds to Regain Market Share
Limited retail sales of branded gastroesophageal reflux disease therapeutics in an incredibly competitive generics-driven market are driving down prescription prices, which is predicted to result in sluggish growth over the next several years.
However, some private gastroesophageal reflux disease therapeutics market players in this field, such as Ironwood Pharmaceuticals, Inc. and RaQualia Pharma, Inc., are concentrating on creating new generic compounds utilizing established and cutting-edge pharmacological mechanisms in an effort to regain their market share.
As per the gastroesophageal reflux disease therapeutics market analysis report, the share of antacids dominated the overall market until 2021 and is expected to remain unchanged over the course of the projection period as well. Additionally, over 120 antacid formulations are promoted for use by the American Hospital Formulary and other nations. Meanwhile, PPIs are the most often given class of medicines for heartburn, making up the second-largest market segment during the forecast years.
When formerly dominating branded medications lose their patent protection, low-cost generic molecules can overtake branded molecules in sales by as much as 90%. Further medicine price reductions are anticipated to result from an increase in the number of businesses being submitted to price examination globally as well as a transition in the government's emphasis to encourage consumer availability.
Gastroesophageal reflux disease involves the backflow of stomach’s content to mouth through esophagus which gives a burning sensation behind breast bone. Gastroesophageal reflux disease is a common digestive disorder which affects the food pipe and lower esophageal sphincter by deteriorating its elasticity.
Gastroesophageal reflux disease occurs due to lifestyle changes and irregular eating habits & over consumption of fatty foods, coffee, alcoholic beverages, citrus fruits and pepper. In Gastroesophageal reflux disease there is excessive production of acid which damages the stomach lining and ultimately cause ulcers.
Gastroesophageal reflux disease includes other symptoms such as regurgitation and dysphagia. However, abnormal reflux may cause uncharacteristic symptoms such as coughing, sore throat, otitis media, chest pain and enamel erosion or other dental manifestations.
Continuous acid reflux disease can cause inflammation of esophagus called as esophagitis. Gastroesophageal reflux disease is a result of unevenness between the normal resistance mechanisms of the esophagus and aggressive components such as acid and other digestive juices and enzymes in the stomach.Gastroesophageal reflux disease can also be caused by the overdoing of certain medicines, such as calcium channel blockers, nitrates and antihistamines.
Gastroesophageal Reflux Disease Therapeutics Market: Drivers & Restraints
Gastroesophageal reflux disease is a very common disease due to which the patient pool is very large.It affects all ages from infants to geriatric population. The prevalence of gastroesophageal reflux disease is increasing significantly across the globe.
Increase in aging population is also one of the factor driving the growth of gastroesophageal reflux disease market. The increase number of patients pursuing gastroesophageal reflux disease treatment and long term anti-reflux conservation therapy are expected to endure the gastroesophageal reflux diseasemarket during the forecast period.Gastro esophageal reflux disease market is also affected by the rapidly changing eating habits and changes in lifestyle.
Although, everything is in favor but there are some unavoidable restraints such as patent expiry and weak drug pipeline which will pull back the market. The competition is very strong as there are many products available in the market for symptomatic treatment.
Gastroesophageal Reflux Disease Therapeutics Market: Region-wise Outlook
Based on geographic regions, gastroesophageal reflux disease therapeutics market is segmented into seven key regions: North America, Latin America, Eastern Europe, Western Europe, Japan, Asia Pacific and Middle East & Africa.
North America seized major share in the global market of gastroesophageal reflux disease therapeutics market due to increase in aging population and awareness of drug therapies followed by Western and Eastern Europe, Asia Pacific may have a negative impact on GERD in their daily lives due to which the acceptance rate of therapy is low and the prevalence in Asia pacific is low as well.
The gastroesophageal reflux disease therapeutics market in japan will have a constant growth due to the balance between therapies and change in life style. Middle East and Africa holds promising future for rise in the global gastroesophageal reflux disease therapeutics market as expenditure on healthcare from foreign countries is increasing which is favouring the new drug development.
Gastroesophageal Reflux Disease Therapeutics Market: Key Players
There are many key performers in gastroesophageal reflux disease therapeutics market some of the names who are leading the market in gastroesophageal reflux disease therapeutics market worldwide are AstraZeneca, Addex Pharmacetuicals, Vecam, Medigus, Peer Medical, EndoGastric Solutions, Eisai Co., Ltd, Takeda Pharmaceutical Company Limited, RaQualia Pharma Inc, Reviva Pharmaceuticals Inc, Rottapharm Madaus, Torax Medical, Mederi Therapeutics, Aros, Pharma and others.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.
The report covers exhaustive analysis on
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Western Europe (Germany, Italy, U.K, Spain, France, Rest of Western Europe)
- Eastern Europe (Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Gastroesophageal Reflux Disease Therapeutics Market: Segmentation
Gastroesophageal reflux disease market is classified on the basis of therapy, product and distribution channel.
Based on product type, the global gastroesophageal reflux disease therapeutics market is segmented into following:
- Proton pump inhibitors
- H2 receptor blocker
- Pro kinetic agents
- Dopamine receptor antagonist
- Transoral Incisionless fundoplication
Based on distribution channel, the global gastro esophageal reflux disease therapeutics market is segmented into the following:
- Hospital pharmacy
- Drug stores
- General stores