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The increasing consumption of alcohol will affect the overall prevalence of the disease and could contribute to the overall market growth.

HYDERABAD, TELANGANA, INDIA, January 10, 2023 /EINPresswire.com/ -- The global Gastroesophageal Reflux Disease market is forecast to reach $7.81 billion by 2024, growing at a CAGR of 3.75% during the forecast period 2019-2024. This market is growing owing to the rise in global alcohol consumption as well as the surge in the geriatric population and the increasing prevalence of gastroesophageal reflux disease. Esophageal pH monitoring and esophageal impedance test are diagnostic tests that measure the amount and type of gastroesophageal reflux in the esophagus. These tests help in identifying traces of esophageal stricture. The disease is more prevalent in elderly people and the growth of the elderly population has the potential to contribute greatly to the overall gastroesophageal reflux disease market.

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Key Takeaways

1. The North America Region is estimated to dominate the market owing to the rise in the prevalence of the disease as well as the geriatric population. Information on other major regions’ Gastroesophageal Reflux Disease market size is also mentioned in the final report.

2. The rise in the overall consumption of alcohol is considered a major market driver as increased alcohol consumption is linked with gastroesophageal reflux disease. Other major market drivers that have been considered are also mentioned in the final report.

3. The availability of a large number of OTC products is considered to have a negative effect on overall market growth. This is owing to the fact that having these products will encourage self-treatment. Other major market limiters are mentioned in the full, final report.

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Segment Analysis

1. The major segment in drug type was held by antacids and is estimated to retain its top position over the forecast period. This is owing to the easy availability of antacid products in various forms such as tablets, powders and syrups. Antacid products are also estimated to be the fastest-growing segment as well and are estimated to hold a CAGR of 4.3%. Proton pump inhibitors such as Omeprazole provide long-lasting reduction of stomach acid production. It initiates the lower esophageal sphincter to close which prevents stomach acid to travel back into the bowel.

2. The North America region is estimated to hold the largest Gastroesophageal Reflux Disease market share at 32%. This is owing to the rise in the geriatric population who are prone to this disease as well as its increasing prevalence. However, the APAC region was found to have the fastest growth rate owing to the rise in the geriatric population as well as the growing trend of self-treatment because of the availability of affordable, over-the-counter antacids.

Competitive Landscape:

The top 5 players in the Gastroesophageal Reflux Disease Industry are -

1. Teva Pharmaceutical Industries Ltd.,
2. AstraZaneca,
3. Boston Scientific Corporation
4. Eisai Co., Ltd.
5. Endogastric Solutions Inc.

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