Albany, NY -- (SBWIRE) -- 11/14/2018 -- Gastroesophageal reflux disease (GERD) also known as acid reflux is a condition wherein the contents from the stomach, or stomach acid flows back into the esophagus, which leads to a series of complications. Symptoms include heartburn, vomiting, chest pain, bad breath etc. Various factors lead to acid reflux such as obesity, smoking, alcohol, and hernia etc. Acid reflux can be managed by lifestyle changes, but some people need medication or surgery. Very often symptoms such as heartburn can diagnose GERD, but additional testing is necessary.
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The global reflux testing product market is anticipated to grow significantly during the forecast period. There are many lifestyle related factors such as alcoholism, aerated drinks, consumption of unhealthy food, stress etc that can cause GERD. This is one of the key factors responsible for the growth of the global reflux testing product market. Incidence of acid reflux is projected to grow with increase in geriatric population in regions such as Asia Pacific, Europe, and North America. According to National Institute of Diabetes and Digestive and Kidney Diseases, about 20 percent of people in the United States suffer from GERD. This ever increasing pool of patients is a crucial factor projected to drive the growth of the global reflux testing product market during the forecast period. Limited acceptance of GERD devices and high cost are some of the factors that are likely to restrain the growth of the market
The global reflux testing product market can be segmented into product type, disease indication, end users, and region. Based on product type, the global reflux testing product market is segmented into catheter based testing products, capsule based testing products, reflux testing probes, and others. Based on disease indication, the market can be segmented into Barrett's esophagus, reflux esophagitis, Esophageal adenocarcinoma, and others. Barrett's esophagus segment is anticipated to hold a significant share of the global reflux testing product market owing to its high prevalence in both developing and developed countries. Based on end users, the market is further divided into hospitals, clinics, ambulatory surgical centers, and others. The hospital segment is projected to dominate the global market through 2025 owing to increasing number of hospitals, wide range of services offered at a single site etc.
Geographically, the reflux testing product market is divided into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America dominates with the largest share in the global reflux testing product market. High adoption rate of the products and increased healthcare expenditure are few factors propelling growth of the global market in North America. Furthermore, high prevalence of lifestyle diseases is the major contributing factor for the growth of the market in North America. Europe is also anticipated to hold a significant share of the global market followed by North America. The Asia Pacific market is anticipated to register a faster growth rate during the forecast period. Asia Pacific is the most lucrative market due to growing geriatric population, adoption of healthcare solutions for better standard of life, rise in awareness about healthcare, prevalence of lifestyle related diseases etc.
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To maintain a significant position in the market, key players are following strategies such as mergers and acquisitions, introducing cost effective and efficient products, collaborative partnerships etc. Some of the prominent players operating in the reflux testing product market are MEDTRONIC, Respiratory Technology Corporation, Given Imaging Ltd, Mui Scientific and others
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