PUBLISHER: The Business Research Company | PRODUCT CODE: 1414533
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414533
“Reflux Testing Products Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on reflux testing products market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for reflux testing products? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The reflux testing products market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Reflux testing products are devices utilized for measuring pH and impedance to identify and understand the symptoms of acid reflux. These tools assist medical professionals in assessing symptoms, evaluating the effectiveness of proton pump inhibitors (PPIs), and developing care strategies for individuals with gastroesophageal reflux disease (GERD).
The primary types of reflux testing products include catheter-based testing products, capsule-based testing products, reflux testing probes, and others. Catheter-based testing products are medical devices designed for treating illnesses or performing surgical procedures within the body. In the context of reflux testing products, catheter-based devices provide information on the presence of acid in the esophagus. These products are used to detect indications of diseases such as Barrett's esophagus, reflux esophagitis, and esophageal adenocarcinoma. The testing and diagnosis are typically carried out in hospitals, clinics, ambulatory surgical centers, and other healthcare settings.
The reflux testing products market research report is one of a series of new reports from The Business Research Company that provides reflux testing products market statistics, including reflux testing products industry global market size, regional shares, competitors with a reflux testing products market share, detailed reflux testing products market segments, market trends, and opportunities, and any further data you may need to thrive in the reflux testing products industry. This reflux testing products market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The reflux testing products market size has grown steadily in recent years. It will grow from $3.25 billion in 2023 to $3.41 billion in 2024 at a compound annual growth rate (CAGR) of 4.8%. The growth observed in the historic period can be attributed to several factors. These include the increased prevalence of gastroesophageal reflux disease (GERD), heightened awareness and diagnostic trends related to GERD, advancements in medical imaging and diagnostics technologies, a rise in healthcare expenditure, and a preference among patients for non-invasive diagnostic tests. These combined factors played a significant role in shaping the growth trajectory during the specified historical period.
The reflux testing products market size is expected to see steady growth in the next few years. It will grow to $4.14 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The anticipated growth in the forecast period can be attributed to various factors. These include the integration of reflux testing products with multimodal diagnostics, global health initiatives focusing on digestive health, trends in telemedicine and remote monitoring, and collaborative research in the field of gastroenterology. Major trends expected in the forecast period encompass a shift towards ambulatory monitoring, increased collaborations and partnerships within the healthcare industry, the influence of reimbursement policies and healthcare regulations, and the impact of global economic factors. These trends collectively contribute to the projected growth and evolution of the reflux testing products market in the coming years.
The growth of the reflux testing products market is expected to be propelled by the high prevalence of Barrett's esophagus. Barrett's esophagus is a condition in which acid reflux damages the normal lining of the esophagus, leading to changes such as thickening and redness. This condition is associated with an increased risk of esophageal cancer. The rise in the incidence of Barrett's esophagus contributes to the demand for reflux testing products. For example, a publication from the National Centre for Biotechnology Information in January 2023 reported that an estimated 5.6% of adults in the United States are believed to have Barrett's esophagus, with an annual diagnosis of esophageal cancer in approximately 1 in 416 people (0.24%). Therefore, the high prevalence of Barrett's esophagus is a key driver for the growth of the reflux testing products market.
The increasing prevalence of gastroesophageal reflux disease (GERD) is expected to further drive the growth of the reflux testing products market. GERD is a chronic condition characterized by the frequent or persistent backflow of stomach acid into the esophagus. Accurate diagnosis and continuous monitoring are crucial for managing GERD symptoms and mitigating potential complications. A study published in the Journal of Gastroenterology and Hepatology in 2021 found that 63% of respondents were familiar with GERD symptoms, indicating improved public awareness. The growing prevalence of gastroesophageal reflux disease is a significant factor contributing to the expansion of the reflux testing products market.
Product innovation is a prominent trend gaining popularity in the reflux testing products market, with major companies adopting new technologies to maintain their market positions. For example, in April 2023, Laborie, a Canada-based Medical Equipment & Devices company, introduced alpHaONE, an Innovative GERD Diagnostic System. alpHaONE is a wireless pH-capsule reflux testing system that provides up to 96 hours of monitoring data. The device features a small, ergonomic design with large, easy-to-press buttons, and incorporates a fail-safe capsule distribution system to ensure patient safety. The system's software includes a virtual instruction program for navigation assistance, offering a seamless user experience with customizable symptom buttons and automatic pH data processing.
Technological innovation is a key trend in the water and wastewater treatment for the food and beverages industry market. Major companies in this sector are integrating new technologies into water and wastewater treatment solutions to better suit applications in the food and beverages industry. For instance, in September 2022, Biosense Webster, Inc., a part of Johnson & Johnson MedTech, announced the release of the OCTARAY Mapping Catheter with TRUEref Technology powered by the CARTO 3 Version 7 System. This mapping catheter is designed for the mapping of cardiac arrhythmias, including atrial fibrillation (AFib), and features eight splines with improved electrode spacing options for shorter and more efficient mapping times.
In February 2023, Diversatek Healthcare, Inc., a US-based company focusing on smart solutions for medical diagnostics and therapeutic procedures in the gastrointestinal and endoscopic market, acquired Group G-Flex GFE do Brasil for an undisclosed amount. This acquisition expands Diversatek Healthcare's portfolio with a broad array of products and enhances its global reach. Group G-Flex GFE do Brasil is a manufacturer and distributor of reusable and single-use endoscopy devices and instruments.
Major companies operating in the reflux testing products market report are Medtronic Inc., Biomedix Optotechnik And Devices Private Limited, Sierra Scientific Instruments, Respiratory Technology Corporation, AstraZeneca plc, Ironwood Pharmaceuticals Inc., Johnson & Johnson Services Inc., Sebela Pharmaceuticals, Diversatek Healthcare, Danish multinational technology company, Phathom Pharmaceuticals, Controls Group's, Takeda Pharmaceutical Company Limited, Acino International AG, SKG Internationals, Restech, Sandhill Scientific, Mui Scientific, Reza Band, Dr. Frigz International, MMS Medical, Medovations, Given Imaging, Crospon, Mederi Therapeutics, EndoGastric Solutions, C. R. Bard Inc., Interscope Inc., Medline Industries Inc., Alba Diagnostics
North America was the largest region in the reflux testing products market in 2023. Asia-pacific is expected to be the fastest-growing region in the global reflux testing products market during the forecast period. The regions covered in the reflux testing products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the reflux testing products market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The reflux testing products market consists of sales of pH monitoring systems, impedance monitoring systems, esophageal manometry systems, and endoscopy equipment. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.