Through the esophagus, food enters the stomach and mixes with gastric acid, enzymes, and other gastric juices for digestion purpose. The ring-like muscle at the junction of the esophagus and the stomach, known as lower esophageal sphincter (LES), controls the flow of food from the esophagus to the stomach and does not allow backflow of gastric fluids into the esophagus. Gastroesophageal reflux disease (GERD) is a condition where the LES relaxes or does not function properly, leading to reflux of gastric fluids back to the esophagus causing heartburn. There are various causes leading to GERD such as smoking, hiatal hernia, obesity, and stress. GERD is also experienced by women during pregnancy. If left untreated, GERD may lead to conditions such as swelling of the esophagus known as esophagitis, Barrett's esophagus, ulcers, and stricture of esophagus. Based on the severity of the disease, the treatment modules are planned. Drugs are used as a primary line of medication to treat early stage GERD. If the treatment is nonresponsive, various invasive and minimally invasive techniques are used to treat GERD.
There are several factors causing GERD, most of which are related to lifestyle changes. Factors such as consumption of fast food, stress, and intake of alcohol and aerated drinks have led to the rise in prevalence of GERD across the globe. Moreover, incidence of GERD is projected to grow with increase in geriatric population in regions such as Asia Pacific, Europe, and North America. According to National Institutes of Health in 2016, about 20 million people in the U.S. were suffering from GERD. According to World Gastroenterology Organization in 2015, the prevalence of GERD in Eastern Asia was in the range of 2.5% to 6.6%. The high pool of patients which is projected to rise is expected to drive the growth of the GERD drugs and devices market in the near future. However, few pipeline product with market players of GERD is expected to restrain the growth of the market globally. In addition, there has been little success and acceptance for GERD devices in terms of clinical outcomes and cost which is likely to slow down the growth of the market during the forecast period.
The global GERD drugs and devices market has been categorized based on drug class, invasive and minimally invasive procedure, and region. Based on the drug class, the market is segmented into antacids, proton pump inhibitors, H2 receptor blockers, prokinetic agents, and antibiotics. Antacids are the primary line of treatment preferred by most of the physicians. The antacids segment is expected to contribute a large share of the global GERD drugs and devices market during the forecast period. H2 blockers and proton pump inhibitors are used to decrease the acid level in the stomach, and they provide long-lasting effect. These segments are projected to have a high demand and are expected to contribute a significant share of the market in the near future. Based on invasive and minimally invasive procedure, the invasive segment comprises surgeries with devices such as LINX Reflux Management and Medigus Ultrasonic Surgical Endostapler. On the other hand, the minimally invasive therapies include EndoCinch ENdoluminal gastroplication, Stretta (low radio frequency ablation), and EsophyX. The invasive surgeries are more common owing to their accessibility and relatively lower cost, while minimally invasive surgeries are costly but offer short-term hospital stay and ease for patients and physicians. However, low clinical success of some devices and concerns over reoccurrence of GERD are factors anticipated to impact the growth of the GERD devices market.
Geographically, the global GERD drugs and devices market is distributed over North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to contribute a significant market share as well as is projected to expand at a high growth rate in the near future owing to acceptance of technology, well-established health care infrastructure, and ongoing research in this field. Europe is expected to hold the second position in terms of market share due to rise in health care expenditure. The Asia Pacific market for GERD drugs and devices is expected to witness a significant growth in the near future owing to emerging markets such as India and China.
Major players operating in the market include AstraZeneca, Plc., Addex Therapeutics, Takeda Pharmaceutical Company Limited, Rottapharm (Meda AB), Pfizer, Inc., Eisai Co. Ltd., The Procter & Gamble Company, Torax Medical, Mederi Therapeutics, Aros Pharma, Torax Medical, Inc., C. R. Bard, Inc., EndoGastric Solutions, and Medigus Ltd.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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