Vancouver, Dec. 18, 2023 (GLOBE NEWSWIRE) -- The global reflux testing products market size was USD 3.04 Billion in 2022 and is expected to register a revenue CAGR of 4.1% during the forecast period, according to the latest analysis by Emergen Research. Rising prevalence of Gastroesophageal Reflux Disease (GERD), technological advancements in diagnostics, and increasing initiatives and product launches by leading companies are some of the major factors driving the market revenue growth. In addition, rising demand for minimally invasive techniques is also contributing to the market revenue growth.
Rising prevalence of Gastroesophageal Reflux Disease (GERD) is a major factor driving revenue growth of the market. Gastrointestinal disorders affect about 20% of individuals in Western culture and are characterized by regurgitation of gastric contents into the esophagus. As a result, this frequent ailment among the target group is predicted to raise disease awareness, leading to treatment and diagnosis. As a result, it is likely to drive market revenue growth during the forecast period. In addition, increasing initiatives and product launches by leading companies are also driving market revenue growth.
On the other hand, federal government agencies have also started giving product approvals, which is driving revenue growth of the market. For instance, on 21 July 2020, Ironwood Pharmaceuticals, Inc., a leading Gastrointestinal (GI)-focused healthcare company, announced that it has reached an agreement with the U.S. Food and Drug Administration (FDA) on certain updates to its Phase III clinical program evaluating IW-3718 in adults with refractory Gastroesophageal Reflux Disease (GERD).
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However, high cost of reflux testing products and procedures is restraining revenue growth of the market. Furthermore, reimbursement issues in healthcare can also restrain the reflux testing products market revenue growth as it involves a varied group of healthcare stakeholders, the medical billing process can be complex for certain providers, and each step towards payment is dependent on the previous involvement. Without a clinical trial, many patients can be prescribed FDA-approved therapies despite a lack of significant benefits. Such poor therapies are frequently compensated for by third-party payers.
Scope of Research
| Report Details | Outcome |
| Market size in 2022 | USD 3.04 Billion |
| CAGR (2023–2032) | 4.1% |
| Revenue forecast to 2032 | USD 4.56 Billion |
| Base year for estimation | 2022 |
| Historical data | 2019–2021 |
| Forecast period | 2023–2032 |
| Quantitative units | Revenue in USD Billion and CAGR in % from 2023 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Product type, disease indication, end-use, and region |
| Regional scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Country scope | U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, Rest of MEA |
| Key companies profiled | Phathom Pharmaceuticals., Sierra Scientific Instruments, Medtronic, Respiratory Technology Corporation, Alba Diagnostics Ltd, PENTAX Medical, Mui Scientific, Medovation Inc. |
| Customization scope | 10 hours of free customization and expert consultation |
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Major Companies and Competitive Landscape
The global reflux testing products market is fairly fragmented with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective reflux testing products. Some major players included in the global reflux testing products market report are:
-
- Phathom Pharmaceuticals.
- Sierra Scientific Instruments
- Medtronic
- Respiratory Technology Corporation
- Alba Diagnostics Ltd
- PENTAX Medical
- Mui Scientific
- Medovation Inc.
Strategic Development
- On 3 April 2023, Laborie Medical Technologies (Laborie) launched the alpHaONE wireless pH-capsule reflux testing device, a diagnostic and therapeutic healthcare technology firm. The alpHaONE system is designed to diagnose Gastroesophageal Reflux Disease (GERD). This technology can provide up to 96 hours for collecting data and intends to enhance the company's gastrointestinal motility and reflux portfolio.
- On 5 June 2023, Lucid Diagnostics Inc., a majority-owned subsidiary of PAVmed Inc. and a commercial-stage cancer prevention diagnostics company, announced the introduction of its first EsoGuard. Florida Digestive Health Associates in Sarasota, Florida, presented the first esophageal precancer screening event using an EsoGuard mobile test device.
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Some Key Highlights From the Report
- The hospitals and clinics segment accounted for a significantly large revenue share during the forecast period. Factors such as the rise of cancer specialty hospitals decreased treatment costs, and rising gastrointestinal incidences globally are driving revenue growth of this segment. Services for both serious and complex diseases are always available. Hospitals and laboratories conduct Research and Development (R&D) operations to improve therapeutic efficiency while also efficiently meeting the demands of an individual's health; they focus limited resources within well-designed referral networks.
- The pH monitoring systems registered a significantly fast revenue growth rate in 2022. The wireless pH monitoring gadget enables 48 hours of continuous monitoring. One advantage of a wireless system is the absence of the trans-nasal catheter, which results in less interference with the patient's daily activities and higher patient satisfaction.
- The reflux testing products market in North America accounted for largest revenue share in 2022 owing to the presence of healthcare and hospitality facilities, rising product launches, and their partnerships with leading companies, which is driving revenue growth of the market in this region. For instance, on 8 January 2023, Phathom Pharmaceuticals, Inc., a biopharmaceutical company focused on development and commercialization of novel treatments for gastrointestinal diseases and disorders, announced positive topline outcomes from PHALCON-NERD-301, a Phase 3 study assessing the safety and effectiveness of vonoprazan for the daily treatment of adults with symptomatic Non-Erosive Gastroesophageal Reflux Disease (sGERD or NERD).
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Emergen Research has segmented the global reflux testing products market on the basis of product type, disease indication, end-use, and region:
- Product Type Outlook (Revenue, USD Billion; 2019-2032)
- pH Monitoring Systems
- Catheter-based testing products
- Reflux Testing Probes
- Others
- Capsule Based testing products
- Impedance Testing Systems
- pH Monitoring Systems
- Disease Indication Outlook (Revenue, USD Billion; 2019-2032)
- Diagnosis of GERD
- Barrett’s esophagus
- Reflux esophagitis
- Others
- End-Use Outlook (Revenue, USD Billion; 2019-2032)
- Hospitals and Clinics
- Ambulatory Surgery Centers
- Specialty Clinics
- Regional Outlook (Revenue, USD Billion; 2019-2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Benelux
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Rest of MEA
- North America
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