Singapore Gastroesophageal Reflux Disease (GERD) Drugs Market Analysis

The Singapore Gastroesophageal Reflux Disease (GERD) Drugs Market size stood at around xx Bn in 2023 and is projected to reach US $xx Bn by 2033, exhibiting a CAGR of xx% during the forecast period.

The Singapore Gastroesophageal Reflux Disease (GERD) Drugs Market Analysis Executive Summary

GERD is a chronic and relapsing disorder that affects the gastrointestinal tract, in which stomach content regurgitates back into the esophagus and causes symptoms or tissue injury based on the frequency and severity of the event. The global prevalence of GERD has significantly increased, with approximately 783.95 million cases reported in 2022, marking a 77.53% rise since 1990. Some of the drugs used are PPIs: esomeprazole (Nexium), lansoprazole (Prevacid), omeprazole (Prilosec), pantoprazole, dexlansoprazole, and rabeprazole while H2 blockers include famotidine (Pepcid). However, in the case of ranitidine, there has been a recall on its production and usage.

The GERD market is expanding significantly due to increased awareness, the increasing prevalence of the disease, and innovative treatments available today. New products such as the oral suspension of omeprazole and sodium bicarbonate by Azurity Pharmaceuticals are typical recent examples that have increased the range of products and promoted market growth. The market offers numerous products for treatment, including conventional drugs, freshly developed formulas, and surgical or minimally invasive therapies. The regulations concerns play the key part of market development though the ranges can be cumbersome to counter. Reimbursement policies lay down persistent barriers, including low insurance coverage for advanced therapies and high copayments possibly affecting patients’ access. However, key drivers towards the future of the market are personalized medicine and patient-centric solutions that aims at improving patients’ health and compliance. 

Singapore Gastroesophageal Reflux Disease (GERD) Drugs Market Dynamics

Market Growth Drivers

The analysis shows that the GERD market will experience growth for several significant reasons. In western countries GERD has increased and it is evident in 20% of people due to factors like increasing life span and change in life styles. Consequently, with the increasing population of older people, GERD risk rises because of weakening of the esophageal sphincter, particularly in developed countries. Improved knowledge about GERD in the population and the medical community result in higher rates of diagnosis and treatment. Improved technology like the endoscopic therapies and magnetic sphincter augmentation devices provide effective conservative treatments, which improve their market to the patients and other providers. Also, extensive research on the development of new drugs and improving their formulation and delivery mechanisms contributes to self-medication. Altogether, these drivers are anticipated to result in increased market growth in the coming years. 

Opportunity

New treatment methods; refinement and minimization of invasive techniques, particularly endoscopic ones; and new medications with fewer side effects and higher efficiency. Using remote monitoring and suggestions about digital health solutions available and wearable devices helps to advance approaches to GERD diagnosis and treatment. Thus, the potential exists for growth in such markets as they develop over time and acquire improved healthcare systems and people awareness. It is absurd to say that the treatment for elderly patient will remain a mystery forever because the treatment for geriatric patients is still under development and the future trend shows that many breakthroughs may take place. 

Market Restraints

Some challenges that affect the GERD market are the expiration of patents in most medications creating room for generics, product recalls that negatively impact consumer trust, and side effects associated with the long-term use of GERD medications that may force patients to look for other alternatives. Several factors can limit spending on GERD treatment such as economic factors and high cost of healthcare, competition from other therapies and stringent regulatory standard. Overcoming these challenges by finding the innovative solutions, proper marketing, and patients’ awareness is critical in dealing with the new market conditions. 

Competitive Landscape for Gastroesophageal Reflux Disease (GERD) Drugs Market in Singapore

• Key Players
• AstraZeneca
• Pfizer
• Takeda
• Johnson & Johnson
• Eisai
• GSK

Recent Developments

July 2024, Global life sciences company Zydus Lifesciences has entered into a licensing agreement with Takeda Pharmaceutical Company to bring a gastrointestinal drug, Vault (Vonoprazan), to the Indian market.

June 2024, Akums Drugs & Pharmaceuticlas LTD has launched advanced anti-reflux antacid - Sodium Alginate + Potassium bicarbonate chewable tablets approved by DCGI (Drug Controller General of India)  

June 2024,Akums Drugs & Pharmaceuticals Ltd. on Monday announced that it has launched Rabeprazole + Levosulpiride SR Capsules. Approved by the Drug Controller General of India (DCGI), the company claims this new formulation aims to enhance relief for patients suffering from gastrointestinal tract (GIT) disorders.    

Mergers and Acquisitions

June 2024, Merit Medical Systems has agreed to acquire medical device company EndoGastric Solutions, for a cash consideration of around $105m.

Healthcare Policies and Regulatory Landscape for Gastroesophageal Reflux Disease (GERD) Drugs Market in Singapore

Policy changes and Reimbursement scenario

As it has been mentioned above, regulatory approval is one of the most significant factors that drive the GERD treatment market, and over the recent years, the number of approvals has been on the rise. For example, in September 2022, it approved new formulations such as the oral suspension of omeprazole and sodium bicarbonate developed by Azurity Pharmaceuticals for the management of GERD and benign gastric ulcers. These approvals help create a wider availability of treatment options which in turn helps to fuel market growth. Nevertheless, there remain one critical issue, namely reimbursement policies. This puts pressure on patients since insurance companies do not offer adequate coverage for innovative GERD devices and treatments thus leading to out-of-pocket expenses. This problem is most acute for novel, less invasive treatments that might not yet have clear reimbursement frameworks.