The gastroesophageal reflux disease (GERD) treatment devices market has witnessed steady growth in the past decade owing to the rising prevalence of GERD and growing preference for minimally invasive procedures over conventional pharmacological therapies. GERD is a chronic condition in which the stomach acid or bile flows back (refluxes) from the stomach into the esophagus. It occurs when the lower esophageal sphincter (LES) does not close properly and allow stomach contents to rise up. GERD treatment devices including LINX Device, Stretta, Bravo Capsule and others are used for surgical treatment of GERD to augment the LES mechanism.
The Global gastroesophageal reflux disease (GERD) treatment devices market is estimated to be valued at US$ 1.41 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the GERD Treatment devices are Google, Inc., Huawei Technologies Co. Ltd., Cisco Systems, Inc., Brocade Networking Solutions, Hewlett Packard Enterprise, Extreme Networks, Inc., Arista Networks, Avaya, Inc., Juniper Networks, Dell Inc., and Microsoft Corporation.
Secondly, the growing prevalence of GERD worldwide due to changing lifestyle and dietary habits has been a key factor driving the demand for GERD treatment devices. According to some estimates, over 60 million Americans and approximately 20-30% of the population in developed countries experience symptoms of GERD at least once a month.
Furthermore, the growing preference for minimally invasive procedures to treat chronic conditions like GERD is boosting the adoption of GERD treatment devices globally. While pharmacological therapies are well-established treatments for GERD symptoms, surgical procedures such as LINX, Stretta, and others enable long-term treatment of GERD with minimal post-operation side effects. This has prompted a number of gastroenterologists and bariatric surgeons to opt for minimally invasive surgical options to treat their patients.
Market Key Trends
Increased adoption of robotic-assisted procedures is expected to be a major trend in the GERD treatment devices market. Robotic systems allow for minimally invasive procedures to be performed through very small incisions with enhanced precision, flexibility, and control. The da Vinci Surgical System is one of the most widely used robotic platforms for GERD treatment procedures such as LINX and Nissen fundoplication. A growing number of hospitals are adopting this advanced technology to expand their gastroesophageal reflux disease treatment offerings. This is expected to play a significant role in the market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: High costs involved in R&D and production of medical devices prevents new companies from entering the market easily.
Bargaining power of buyers: Large number of buyers and high bargaining power of hospitals reduces profit margins for companies.
Bargaining power of suppliers: Suppliers have moderate bargaining power due presence of a large number of material and component suppliers in the market.
Threat of new substitutes: Substitutes such as medication and surgery provide alternative treatment options thereby posing moderate threat.
Competitive rivalry: Intense competition exists among existing players to gain higher market share through product innovation and expansion into new geographical regions.
Geographical regions
North America dominates the global gastroesophageal reflux disease treatment devices market in terms of value. High prevalence of GERD and availability of advanced healthcare infrastructure are major factors driving market growth in the region.
Asia Pacific is poised to be the fastest growing regional market during the forecast period. Rising geriatric population, growing preference for minimally invasive surgeries, and increasing healthcare expenditure are expected to boost the adoption of GERD treatment devices in Asia Pacific.