What is Global Gastroesophageal Reflux Disease Treatment Device Market?
The Global Gastroesophageal Reflux Disease Treatment Device Market is a vast and dynamic field that focuses on the development and distribution of devices used in the treatment of Gastroesophageal Reflux Disease (GERD). GERD is a chronic condition where stomach acid frequently flows back into the tube connecting your mouth and stomach (esophagus). This backwash (acid reflux) can irritate the lining of your esophagus, causing discomfort and potentially leading to serious complications. The market encompasses a wide range of devices, including those used for diagnosis, monitoring, and treatment. These devices are designed to alleviate symptoms, manage the disease, and improve the quality of life for patients. The market is driven by factors such as the increasing prevalence of GERD, advancements in technology, and the growing demand for minimally invasive procedures. It is a global market, with key players spread across various regions, contributing to the development and distribution of these devices.
Invasive Surgery, Non Invasive Surgery in the Global Gastroesophageal Reflux Disease Treatment Device Market:
The Global Gastroesophageal Reflux Disease Treatment Device Market is segmented into invasive and non-invasive surgeries. Invasive surgeries involve procedures where surgical instruments are inserted into the patient's body, such as fundoplication, where the upper part of the stomach is wrapped around the lower esophageal sphincter to strengthen it and prevent acid reflux. On the other hand, non-invasive surgeries involve procedures that do not require incisions or the insertion of instruments into the body. These include endoscopic techniques like transoral incisionless fundoplication (TIF), where a device is passed down the throat to create a barrier between the stomach and esophagus. Both types of surgeries have their advantages and disadvantages. Invasive surgeries are often more effective in the long term but come with higher risks and longer recovery times. Non-invasive surgeries are safer and have shorter recovery times but may not be as effective in the long term. The choice between the two often depends on the patient's condition, preferences, and the doctor's recommendation.
Government, Hospitals, Medical Practitioners, Others in the Global Gastroesophageal Reflux Disease Treatment Device Market:
The Global Gastroesophageal Reflux Disease Treatment Device Market finds its application in various sectors such as government, hospitals, medical practitioners, and others. Government bodies play a crucial role in regulating the market, ensuring the safety and efficacy of the devices, and funding research and development. Hospitals are the primary end-users of these devices, where they are used in the diagnosis and treatment of GERD. Medical practitioners, including gastroenterologists and surgeons, use these devices to provide care to their patients. Other sectors include research institutions, diagnostic centers, and home care settings. Each sector has its unique needs and requirements, influencing the development and distribution of these devices.
Global Gastroesophageal Reflux Disease Treatment Device Market Outlook:
Looking at the market outlook, the Global Gastroesophageal Reflux Disease Treatment Device Market was valued at a substantial US$ 5534 million in 2023. It is projected to reach an impressive US$ 6694.9 million by 2030, marking a steady Compound Annual Growth Rate (CAGR) of 2.3% during the forecast period from 2024 to 2030. In a broader perspective, the global market for medical devices, which includes the GERD treatment device market, was estimated at a whopping US$ 603 billion in 2023. This market is expected to grow at a CAGR of 5% over the next six years. These figures highlight the significant potential and growth prospects of the Global Gastroesophageal Reflux Disease Treatment Device Market.
| Report Metric | Details |
| Report Name | Gastroesophageal Reflux Disease Treatment Device Market |
| Accounted market size in 2023 | US$ 5534 million |
| Forecasted market size in 2030 | US$ 6694.9 million |
| CAGR | 2.3% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | BD, MEDERI THERAPEUTICS, Medigus Ltd, Torax Medical, EndoGastric Solutions |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
