Gastroesophageal Reflux Diseases Therapeutic Market Outlook 2031:
The global gastroesophageal reflux disease therapeutics market size was valued at USD 5.18 Billion in 2022 and is projected to reach USD 6.31 Billion by 2031, expanding at a CAGR of 1.7% during the forecast period 2023 - 2031. The growth of the market is attributed to the wide prevalence of GERD due to change in the lifestyle of the people and increasing awareness regarding the disease.
Gastroesophageal reflux disease is a digestive disease that irritates the lining of food pipe due to stomach acid also known as bile. This is a chronic disorder that irritates the food pipe lining when stomach acid flows into the food pipelining. GERD is indicated when heartburn and acid reflux occurs more than twice a week.
The most common symptom of GERD is burning chest pain that occurs after eating and this condition worsens when the individual lies down. The temporary solutions for the disease are over-the-counter medications and changes in lifestyle; however, specific cases may require medications that are stronger.
As per the reports published by the World Health Organization (WHO) in 2017, nearly USD 10 billion were spent on antacids every year. A report by the World Gastroenterology Organization also suggests that the global cases of GERD are increasing rapidly.
Acid complications are quite frequent in the elderly population that proves to be quite challenging for gastroenterologists and primary care providers. Moreover, the market is expected to grow due to the increasing number of companies for the treatment of acid reflux disorders.
Gastroesophageal Reflux Diseases Therapeutic Market Trends, Drivers, Restraints, and Opportunities
- Development of several generic molecules and drugs are expected to fuel the market growth during the forecast period.
- Increase in the number of companies working towards the price reduction of the drugs along with alteration of the government focus to promote consumer accessibility is expected to propel the market growth in the coming years.
- Confined acknowledgment to devices for the disease management has added an increase in the demand for acid-neutralizing drugs. This is expected to boost the growth of the market during the forecast period.
- Expiration of patents for blockbuster drugs is anticipated to act as a restraining factor of the market during the forecast period.
- Establishment of advanced therapeutic facilities across the globe and favorable process of reimbursement policies present key opportunities for the market expansion.
Scope of Gastroesophageal Reflux Disease Therapeutics Market Report
The report on the global gastroesophageal reflux disease therapeutics market includes an assessment of the market, trends, and segments. Overview and dynamics have also been included in the report.
Gastroesophageal Reflux Disease Therapeutics Market – Global Industry Analysis, Growth, Share, Size, Trends, And Forecast
Drug Types (Antacids, Proton Pump Inhibitors, H2 Receptor Blockers, and Pro-Kinetic Agents)
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
RaQualia Pharma, Inc.; AstraZeneca PLC; GlaxoSmithKline PLC; Daewoong Pharmaceutical Co., Ltd.; Takeda Pharmaceutical Co., Ltd.; Johnson & Johnson; Eisai Co., Ltd.; SRS Pharmaceuticals Pvt. Ltd.; Ironwood Pharmaceuticals, Inc.; and SFJ Pharmaceuticals
Gastroesophageal Reflux Disease Therapeutics Market Segment Insights
Antacids segment is expected to dominate the market
On the basis of drug types, the global gastroesophageal reflux disease therapeutics market is divided into antacids, proton pump inhibitors, H2 receptor blockers, and pro-kinetic agents. The antacids segment held a major share of the market in 2019 and is expected to dominate the market in the coming years.
The segment growth is attributed to easily available of the drugs in various forms including syrups, powders, and tablets, and provides immediate relief from infrequent and mild symptoms by neutralizing gastric acid secretions.
Meanwhile, the proton pump inhibitors segment is projected to account for a key market share during the targeted period owing to the wide recommendation of the medication and is commonly prescribed by professionals for heartburn treatment.
Asia Pacific is anticipated to grow at a rapid pace
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America held a high share of the market in 2019 and is anticipated to account for a large market share during the projected period owing to increasing number of people experiencing symptoms of the GERD and increasing number of clinical visits by the geriatric population due to acid reflux and heartburn.
However, the market in Asia Pacific is anticipated to grow at a rapid pace due to rising cases of obesity, change in lifestyle, and increasing geriatric population in the region.
The global gastroesophageal reflux disease therapeutics market has been segmented on the basis of
- Proton Pump Inhibitors
- H2 Receptor Blockers
- Pro-Kinetic Agents
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
- RaQualia Pharma, Inc.
- AstraZeneca PLC
- GlaxoSmithKline PLC
- Daewoong Pharmaceutical Co., Ltd.
- Takeda Pharmaceutical Co., Ltd.
- Johnson & Johnson
- Eisai Co., Ltd.
- SRS Pharmaceuticals Pvt. Ltd.
- Ironwood Pharmaceuticals, Inc.
- SFJ Pharmaceuticals
Key players competing in the global gastroesophageal reflux disease therapeutics market are RaQualia Pharma, Inc.; AstraZeneca PLC; GlaxoSmithKline PLC; Daewoong Pharmaceutical Co., Ltd.; Takeda Pharmaceutical Co., Ltd.; Johnson & Johnson; Eisai Co., Ltd.; SRS Pharmaceuticals Pvt. Ltd.; Ironwood Pharmaceuticals, Inc.; and SFJ Pharmaceuticals.
Many of these players have adopted business strategies such as the launch of new products, the advancement of technology, mergers, partnerships, and production capacity expansion to increase their market position and expand their consumer base globally. For instance, RaQualia Pharma, Inc. and Ironwood Pharmaceuticals, Inc. are extensively focused on developing new generic molecules to expand their business operations.