The major factors for the growth of the gastroesophageal reflux disease market includes the rising prevalence of gastroesophageal reflux diseases and changing lifestyle, and increasing awareness about GERD.
According to the World Health Organization, in 2017, globally there are more than USD 10 billion that was found to be spent every year on antacids. As per the World Gastroenterology Organization, the prevalence rate of GERD is growing rapidly across the world. It was valued at approximately 2.5%-6.6% in South East Asia and almost 13.8%-25.8% in North America. In geriatric population, acidic complications are recurrent, which provides a unique challenge, for both, the primary care providers and gastroenterologists. Thus, rising cases of GERD the market is expected to witness high demand.
In addition, the growing number of companies for the treatment of acid reflux disorders is majorly attributable for the increase in the market.
Key Market Trends
Proton Pump Inhibitors Segment is Expected to hold the Large Market Share over the Forecast Period
- Proton pump inhibitors accounted for the second largest segment as they are the most commonly prescribed medication for the treatment of acid reflux. The Proton Pump Inhibitors (PPI) characterize the maximum potency in inhibiting gastric acid secretion, primarily by blocking the acid pump. These inhibitors are well-known, for both, therapeutic effects and good safety profiles.
- Heartburn and regurgitation are the most common acid reflux-related symptoms in Canadian patients, and many individuals self-diagnose and self-treat these symptoms. PPIs are the most successful short-term treatment for recurrent or severe heartburns. The OTC status of some PPI drugs is expected to augment their sales. Thus, owing to the all above mentioned factors the market is expected to witness a high growth.
North America is Expected to Hold the Largest Market Share over the Forecast Period
The United States is expected to be the largest market owing to the presence of better healthcare infrastructure and the rising prevalence of GERD. In the United States, tablet (chewable form) and liquid forms are most widely used. There is a rising prevalence of GERD across the world, although there are marked differences in the reported prevalence, ranging from 14% to 26% in North America.
However, it can be correlated with the rising prevalence of obesity, along with other dietary factors, in many countries. GERD can be associated with the impact on the quality of life and reduction in personal and work-related productivity. In the United States, major selling drugs include omeprazole, Pantoprazole Sodium, and Nexium. Thus, owing to the lifestyle change and rising cases of GERD the market is expected to grow.
On the other hand, the Asia Pacific region is also being projected to showcase the fastest growth rate over the forecast period due to the rising geriatric population.
The market studied is a fragmented market owing to the presence of various market players. Some of the market players are GlaxoSmithKline PLC, Ironwood Pharmaceuticals, Inc., Johnson & Johnson Services, Inc., Medtronic Plc, Olympus Corporation, Pfizer, Inc., Reckitt Benckiser Group PLC, Takeda Pharmaceutical Co., Ltd., and Teva Pharmaceuticals Industries Limited.
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