CITY, Country, 2020-Oct-21 — /EPR Network/ —
Market Report Summary
- Market – Ineffective Esophageal Motility Treatment Market
- Market Value – US$ 6.4 Bn in 2020–2030
- Market CAGR Value – 6% in 2020–2030
- Market Forecast Year – 2020 to 2030
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Ineffective esophageal motility treatment leads to a reduction in muscle damage and improved outcomes, improving quality of life and resulting in long-term benefits. Device-based treatment and IEMT drugs have already had a substantial impact on how symptoms of GERD and achalasia are treated.
The first and the most important factor driving the growth of the ineffective esophageal motility treatment market is the increasing prevalence of gastroesophageal reflux disease. Other factors, such as intake of asthma medications and increasing geriatric population, are also responsible for driving the ineffective esophageal motility treatment market.
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Companies covered in Ineffective Esophageal Motility Treatment Market Report
- Johnson & Johnson
- Mylan Pharmaceutical
- MediGus Ltd.
- Torax Medical
- Medtronic plc.
- AstraZeneca plc.
- Teva Pharmaceutical Industries Ltd.
- Takeda Pharmaceutical Company Limited
- GlaxoSmithKline plc.
- Bayer AG
- Pfizer Inc.
- Bausch Health Companies Inc.
- Mederi Therapeutics, Inc.
- Becton, Dickinson and Company (C. R. Bard, Inc.)
- EndoGastric Solutions, Inc
According to the latest report published by PMR, the global ineffective esophageal motility treatment market is projected to expand at a decent CAGR of around 6% during the forecast period (2020–2030).
Key Takeaways from Ineffective Esophageal Motility Treatment Market Study
- Significant advantages of ineffective esophageal motility treatment; improving reimbursement scenario for surgical treatment devices; increasing awareness regarding gastric reflux disease; and large patient pool for GERD, dysphagia, achalasia, and burning chest pain are key factors propelling the growth of ineffective esophageal motility treatment market in developing regions.
- North America is a prominent region the global ineffective esophageal motility treatment market, while East Asia is expected to offer lucrative growth opportunities, owing to the large population base and higher incidence of GERD and dysphagia.
- Higher OTC antacid consumption is poised to drive the growth of the market.
- Radiofrequency ablation systems with high level precision and procedural advantages over myotomy are expected to generate significant revenue in the long term.
- Increasing adoption of ineffective esophageal motility treatment drugs for quick recovery as compared to device-based treatment marks higher revenue potential.
- Raw material procurement issues, drug shortages, and reduced patient visits amidst the COVID-19 pandemic will adversely affect the growth of the ineffective esophageal motility treatment market in the near term.
“Procedural accuracy achieved by treatment devices and affordability of drug-based treatment are anticipated to drive the ineffective esophageal motility treatment market. Additionally, the large patient pool will bring in steady revenue opportunities,” says a PMR analyst.
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New Product Launches by Key Players to Strengthen Market Presence
Key manufacturers in the ineffective esophageal motility treatment market are mainly focusing on research & development and introduction new & advanced treatment products. For example, LINX is the new and advanced version of the LINX reflux management device that is used for the transoral incision-less fundoplication process, which is one of the important procedures for the treatment of gastroesophageal reflux disease.
The innovation of new & advanced products is a factor boosting the ineffective esophageal motility treatment market. In addition, Olympus Corporation has launched advanced versions of esophagoscopes, which have improved the treatment curve of gastroesophageal reflux disease. Manufacturers are focusing on extended indication list and higher reimbursement to draw demand and increase profitability.
Alternatively, a key factor affecting the ineffective esophageal motility treatment market is the entry of generic drug manufacturers. Market leaders are constantly working on strengthening their strategies to gain market share.
What else is in the report?
Persistence Market Research offers a unique perspective and actionable insights on the ineffective esophageal motility treatment market in its latest study, presenting historical demand assessment of 2015–2019 and projections for 2020–2030, on the basis of product (drugs and devices), indication (GERD, dysphagia, achalasia, and burning chest pain), and end user (institutional sales and retail sales), across seven key regions.
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