NEW YORK, March 23, 2017 /PRNewswire/ -- The global Gastroesophageal Reflux Disease (GERD) therapeutics market is expected to reach USD 4.34 billion by 2025, according to a new study by Grand View Research, Inc. The incidence of acid reflux disorder, also known as heartburn, is rapidly increasing worldwide. Various studies state that almost every person experiences acid reflux once in a lifetime.
The overall market has been experiencing a downturn in terms of revenue in the past several years as the leading drugs for GERD treatment have lost their patent protection, with their market shares now largely consumed by over-the-counter (OTC) and generic medications. Although loss of exclusivity of high-grossing drugs have caused a market fall-off, the demand for acid reducing drugs due to the high prevalence and incidence levels of GERD will prove beneficial to the industry from a commercial standpoint.
GERD is one of the commonly observed recurrent gastrointestinal disorders worldwide. The prevalence of acid reflux and related symptoms has increased across the globe by nearly 50% over the last decade. This disorder not only has major effects on the health and quality of patient lives, but also extends to the healthcare system and economy.
In addition, the occurrence of acid reflux disease increases with age, rendering elderly people more prone to developing a severe form of heartburn. The geriatric subset hence forms a prominent target population for GERD therapeutics.
Further key findings from the study suggest:
Antacids have been identified as the largest drug type segment in terms of revenue share due to their cost-effectiveness and greater consumer accessibility
The rising trend of self-medication in case of heartburn is particularly responsible for the growth in sales of OTC antacids
Proton pump inhibitors accounted for the second largest segment as they are the most commonly prescribed medication for the treatment of acid reflux
Market share of proton pump inhibitors is expected to decline over the forecast period with the loss of patent protection of several leading drugs, such as Nexium and Prilosec, in this segment
North America accounted for the largest regional market in 2016 owing to the presence of a large patient population suffering from heartburn and the availability of OTC generics
On the other hand, Asia Pacific is expected to grow at a fairly high growth rate as compared to other regional markets due to increased adoption of OTC and generic antacids along with rising prevalence of heartburn
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