The Global Gastroesophageal Reflux Disease Therapeutics Market Size is valued at 5.28 billion in 2023 and is predicted to reach 6.08 billion by the year 2031 at a 1.81% CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- The demand for gastroesophageal reflux disease therapeutics is expected to rise due to the increasing number of initiatives by the government and non-governmental organizations to combat malnutrition.
- Investing in creating new raw materials and producing finished food items are considered driving forces in the market's growth.
- North America dominated the market and accounted for a revenue share of global revenue in 2023.
- The government's rising preference for local components is expected to slow the expansion of the GERD industry.
Due to factors such as the low success rates associated with GERD management devices, an increase in the frequency of GERD and other gastrointestinal problems, and a rising tendency of self-medication supported by a robust product pipeline, the market for GERD treatments is expanding. Lockdowns have brought about significant lifestyle changes. The COVID-19 lockdown, remote work, sedentary lives, boredom, and anxiety directly impact people's eating patterns. There was a significant (P 0.001) rise in the number of meals, snacks, binges, and unhealthy food intake throughout the COVID-19-induced home confinement period.
Determining which people have GERD is one of the most challenging parts of calculating the condition's prevalence. Many patients with GERD-related symptoms do not seek treatment from a primary care physician (PCP). Those who do often send patients to a gastroenterologist only when symptoms stop responding to treatment after seeking PCP therapy (refractory). GERD also has a significant economic impact since the expense of long-term disease management is high because it is a chronic rather than an acute illness.
Recent Developments:
- In Nov 2023, Phathom Pharmaceuticals' Voquezna (vonoprazan) tablets have been authorized by the FDA for the treatment of erosive esophagitis, sometimes referred to as erosive GERD (gastroesophageal reflux disease), in adults. It is also prescribed as a maintenance therapy for erosive gastroesophageal reflux disease (GERD) and for the alleviation of heartburn linked to erosive GERD.
- In Oct 2022, EndoStim has been granted the FDA's Breakthrough Device designation for its EndoStim System, which is used to treat patients suffering from gastroesophageal reflux disease (GERD) who do not experience relief from medication therapy.Competitive Landscape:
Some of the Gastroesophageal Reflux Disease Therapeutics market players are:
- AstraZeneca;
- Aurobindo Pharma Limited
- Cadila Pharmaceuticals Limited
- Camber Pharmaceuticals Inc.
- CHEPLAPHARM Arzneimittel GmbH
- Daewoong Pharmaceutical Co., Ltd
- Eisai Co. Ltd.
- EndoStim, Inc.
- GlaxoSmithKline PLC
- Ironwood Pharmaceuticals, Inc.;
- Jeil Pharmaceutical Co., Ltd.
- Johnson & Johnson Services, Inc.
- Novartis AG
- Phathom Pharmaceuticals Inc.
- Reckitt Benckiser Group PLC
- Sebela Pharmaceuticals
- SFJ Pharmaceuticals Group
- SRS Life Sciences Pte. Ltd.
- Sun Pharmaceutical Industries Limited
- Takeda Pharmaceutical Company Limited.
- Teva Pharmaceuticals Industries Limited
Market Segmentation:
The Gastroesophageal Reflux Disease Therapeutics market is segmented on the basis of drug type. Based on drug type, the market is categorized as Antacids, H2 Receptor Blockers, Proton Pump Inhibitors (PPIs), and Pro-kinetic agents.
Based On Drug Type, The Antacids Segment Is Accounted As A Significant Contributor In The Gastroesophageal Reflux Disease Therapeutics Market
The bioalcohols category is expected to hold a major share in the global Gastroesophageal Reflux Disease Therapeutics market in 2024. The success and speedy relief that antacids offer are credited with the segment's dominance. Customers seeking treatment from acid reflux and heartburn spend billions of dollars on antacids, one of the most popular classes of over-the-counter pharmaceuticals available worldwide. They treat GERD, heartburn, acid indigestion, hyperacidity, and upset stomach symptoms brought on by these conditions. The segment's expansion can also be linked to the public's growing understanding of self-medication. Consumers prefer over-the-counter medications to professional medical services. Antacids have also been discovered to be helpful and have no adverse side effects in pregnancy and other diseases, further fueling the segment's rise.
The North America Gastroesophageal Reflux Disease Therapeutics Market Holds A Significant Revenue Share In The Region
Due to the rising prevalence of GERD in the local population, North America dominated the global gastroesophageal reflux disease treatment market in 2023. This trend can be due to the increasing use of GERD therapies. For instance, research that appeared in the journal GUT found that 18–28% of people in North America had GERD. Furthermore, there are more and more campaigns to raise public awareness of the problem, which is driving up demand for GERD treatments. For instance, EndoGastric Solutions, Inc. began a national campaign to support GERD awareness week in November 2022. The campaign's goal was to give GERD sufferers simple-to-follow reflux-friendly recipes.
Gastroesophageal Reflux Disease Therapeutics Market Report Scope:
|
Report Attribute |
Specifications |
|
Market size value in 2023 |
USD 5.28 Bn |
|
Revenue forecast in 2031 |
USD 6.08 Bn |
|
Growth rate CAGR |
CAGR of 1.81 % from 2024 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Million, and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
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Report coverage |
The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
|
Segments covered |
Drug Type |
|
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
|
Competitive Landscape |
AstraZeneca; Eisai Co. Ltd.; GSK plc.; Takeda Pharmaceutical Company Limited.; Ironwood Pharmaceuticals, Inc.; Johnson & Johnson Services; Inc.; SFJ Pharmaceuticals; Sebela Pharmaceuticals; Phathom Pharmaceuticals Inc.; Camber Pharmaceuticals Inc. |
|
Customization scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing and available payment methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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