The global gastroesophageal reflux disease therapeutics market size was valued at USD 4.36 billion in 2020 and is estimated to expand at a moderate CAGR during the forecast period, 2021-2028. 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.
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.
Key Players
- 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
Competitive Landscape
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.
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