The modern lifestyle has brought many side effects with itself which has spread far and wide over the continents. Gastro-esophageal reflux disease (GERD) has emerged as a prevalent condition in a significant share of population. It has increased 50 over the last decade, with 7% of U.S. citizen complaining about GERD related symptoms on a daily basis. There are myriads of drugs available over the counter but many of the prevalent drugs have gone off patent paving way for the generic & OTC products in the market, and with their advent the growth in GERD drugs market has decreased.
But the key players involved in the market have been engaging in several business strategies despite the slow growth rate of the market. Sanderling Ventures announced in a press release that, one of the key players, Johnson & Johnson’s Ethicon acquired Minnesota-based Torax Medical, a maker of products designed to treat sphincter disorders,. Torax Medical is backed by Sanderling Ventures and Mayo Medical Ventures. This move will facilitate Ethicon to offer LINX, a small implantable alternative to patients, which will subsequently strengthen Johnson & Johnson's position in GERD market.
Another major development in the GERD market came from Eisai Co. Ltd., which entered an in-licensing agreement with Biocon, to market its anti-ulcer drug, rabeprazole, in India. The Japan- based drug major is the innovator of rabeprazole which is a proton pump inhibitor and available globally under many brand names. The drug is used for duodenal ulcers and gastro-esophageal reflux disease (GERD)1.
The companies are engaging in acquisitions and partnerships to expand their reach in the untapped markets. Acknowledging the potential growth of the market BIS Healthcare has compiled a report titled ‘Global Gastro Esophageal Reflux Disease (GERD) Drug and Devices Market - Analysis and Forecast (2017-2023)’, which is a comprehensive analysis of the global GERD market on the basis of drugs and devices.
According to the analyst at BIS Research, “With the advent of generics & OTC products the growth in GERD drugs market has decreased. The absence of patent protected & new regulatory approved medicines are the restraints for the growth of this market. The global GERD drugs market has a low growth potential in future and will account to $5.38 billion by 2023.”
This research study includes an extensive analysis of the GERD therapy market by drug class, route of administration, dosage form, devices and geographical regions, which helps in developing a comprehensive outlook of the market. The market intelligence report presents a detailed and investigative study of the entire market and provides a comprehensive insight into various forms of developments, trends and key participants.
The report also highlights the key driving and restraining forces for this established market, including a comprehensive section on competitive landscape, market share analysis, pipeline analysis, competitor benchmarking, and their positioning within the GERD therapy market. The report also includes the profiles of major players in the market that allows the readers to get an insight into the various industry trends. Some of the leading companies in the market are AstraZeneca Plc., Takeda Pharmaceuticals Company Ltd., GlaxoSmithKline, Eisai, Medigus, Medtronic, Johnson &Johnson, and Endogastric Solutions.
References:
1 Pharmabiz.com
