Gastroesophageal Reflux Disease Treatment Devices Market 2024 Huge Growth Expected in Upcoming Year 2031 | Medigus Ltd

BURLINGAME, CALIFORNIA, UNITED STATES, May 24, 2024 /EINPresswire.com/ -- Market Overview:

Gastroesophageal reflux disease (GERD) treatment devices are used to manage and treat gastroesophageal reflux disease. These devices are used to reinforce and strengthen the lower esophageal sphincter to prevent reflux of stomach acid and food contents into the esophagus.

Market Dynamics:

The Gastroesophageal Reflux Disease Treatment Devices Market is expected to witness significant growth over the forecast period owing to the rising prevalence of gastroesophageal reflux disease across the globe. According to the National Institute of Diabetes and Digestive and Kidney Diseases, approximately 20% of the U.S population suffers from gastroesophageal reflux disease (GERD) at least once per month. Also, rising investment into the development of innovative and minimally invasive GERD treatment devices will further drive the market growth during this period. Furthermore, regulatory approvals and product launches of new devices are contributing to the market growth. For instance, in 2018, Mederi Therapeutics Inc. received FDA approval for its Stretta therapy system to treat GERD.

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Rising Prevalence of GERD to Drive Growth in the Gastroesophageal Reflux Disease Treatment Devices Market

The increasing prevalence of GERD is expected to be a major driver for the growth of the gastroesophageal reflux disease treatment devices market. GERD is becoming increasingly common worldwide and is estimated to affect around 20% of the population in North America and Europe. The rising levels of obesity, poor lifestyle choices, and aging populations have contributed to the rising incidence of GERD. As more people are diagnosed with this chronic condition, the demand for effective treatment devices and procedures will increase significantly. Device manufacturers are launching advanced devices that offer minimally invasive procedures to treat GERD, appealing to both patients and physicians.

High Cost of GERD Treatment Devices to Restrain Market Growth

The high cost of advanced GERD treatment devices poses a major restraint on the widespread adoption of such devices. GERD treatment devices range from cheaper antacids and inexpensive medications to highly complex surgical equipment costing hundreds of thousands of dollars. The surgical procedures also involve high costs of hospitalization and post-operative care. Limited insurance coverage for GERD treatment procedures in many countries also contributes to the high out-of-pocket costs shouldered by patients. This makes advanced GERD treatment devices unaffordable for most patients in developing nations and some patients even in developed countries. The high costs of new devices act as a barrier for manufacturers looking to enter new markets and reduce the overall patient volume.

Advancements in Endoscopic Devices to Present Lucrative Opportunities

Continuous advancements in endoscopic technology for minimally invasive GERD treatments present lucrative growth opportunities. Device manufacturers are investing heavily in R&D to develop innovative endoscopic treatment options. Some areas that show promise include hybrid endoscopy combining endoscopic techniques with laparoscopy, next-generation endoluminal fundoplication devices, endoscopic suturing and stapling devices, and energy-based endoluminal therapies. Single-use endoscopes also offer improved safety over reusable scopes. The demand for cutting-edge, less invasive endoscopic solutions from physicians as well as patients looking for quicker recovery will promote the adoption of newer generation endoscopic devices. This provides an incentive for companies to launch breakthrough products tapping into this opportunity.

Rising Popularity of Minimally Invasive Procedures

The popularity of minimally invasive treatments for GERD is growing at a rapid pace. Compared to complex surgeries requiring lengthy hospital stays, minimally invasive procedures allow patients to return to normal activities quicker with less pain and scarring. Device manufacturers are focusing their R&D efforts on developing advanced endoluminal therapies to treat GERD complications without external incisions. The introduction of innovative endoluminal procedures including EsophyX Transoral Incisionless Fundoplication and Stretta have gained ground as clinically effective alternatives to open surgeries. Technologies like robotic endoscopy also complement minimally invasive approaches. With clear benefits like reduced recovery time, minimally invasive GERD treatment devices are expected gain more widespread acceptance over the forecast period. This growing preference for minimally invasive options will significantly impact market trends positively in the coming years.

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Leading Key Players Include in This Report:

C. R. Bard, Inc., MEDERI THERAPEUTICS INC., Medigus Ltd.Torax Medical, Inc., and EndoGastric Solutions.

Since the report focuses on the healthcare sector, it also sheds light on key development in the said industry and latest R&D activities. It educates business owners on newly approved products, ongoing research and development, and products under the trial phase and in the pipeline.

Detailed Segmentation:

On the basis of surgery type, global market is classified into:

Invasive
Medigus Ultrasonic Surgical Endostapler
Linx Reflux Management
Non Invasive
Stretta
Endocinch Endolumminal gastroplication
EsophyX
Endoscopic Plicator System
Plexiglas poly-methyl-methacrylate (PMMA) microspheres

On the basis of end user, the global market is classified into:

Government
Hospitals
Medical Practitioners
Others

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