Gastroesophageal Reflux Disease Therapeutics Market Size Expected To Reach $7.33 Billion by 2028
Gastroesophageal Reflux Disease Therapeutics Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Gastroesophageal Reflux Disease Therapeutics Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UK, June 17, 2024 /EINPresswire.com/ -- The gastroesophageal reflux disease (GERD) therapeutics market is projected to grow from $5.78 billion in 2023 to $6 billion in 2024, at a CAGR of 3.8%. The market is expected to continue its growth trajectory, reaching $7.33 billion by 2028, driven by the rising demand for novel therapies and an aging population.
Adoption of Self-Medication Drives Market Growth
The adoption of self-medication significantly contributes to the growth of the GERD therapeutics market. Self-medication, the practice of using drugs or substances without consulting a healthcare professional, helps in identifying and avoiding trigger foods, managing stress, and quitting smoking. A survey by Lippincott Williams & Wilkins in May 2022 reported that 57.7% of respondents practiced self-medication, indicating its growing prevalence.
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Major Players and Market Trends
Major companies in the GERD therapeutics market include Pfizer Inc., Johnson & Johnson, Novartis AG, Sanofi S.A., AstraZeneca PLC, and Medtronic PLC. These companies focus on product innovations to sustain their market positions. For instance, Xiromed LLC launched Omeprazole Delayed-Release Capsules in March 2021 to treat frequent heartburn in GERD patients.
Segments:
•By Type: Branded, Generic
•By Drug Class: Antacids, Proton Pump Inhibitors, Histamine Blockers, Pro-Kinetic Agents, Other Drugs Class
•By Distribution Channel: Hospital Pharmacy, Drug Stores, General Stores, Supermarkets
•By Application: Crohn’s Disease, Gastroesophageal Reflux Disease (GERD), Ulcerative Colitis
Geographical Insights: North America Leading, Asia-Pacific Fastest Growing
North America was the largest region in the GERD therapeutics market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by increasing awareness and diagnosis, as well as the adoption of novel therapies.
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Gastroesophageal Reflux Disease Therapeutics Global Market Report 2024 from TBRC covers the following information:
•Market size date for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Gastroesophageal Reflux Disease Therapeutics Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on gastroesophageal reflux disease therapeutics market size1, gastroesophageal reflux disease therapeutics market drivers and trends, gastroesophageal reflux disease therapeutics market major players, competitors' revenues, market positioning, and market growth across geographies. The gastroesophageal reflux disease therapeutics market report2 helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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