by Eosinophilic esophagitis (EoE) is a chronic inflammatory disease of the esophagus that is characterized by eosinophils infiltrating the esophageal mucosa. It causes difficulty swallowing, abdominal pain, nausea, vomiting, heartburn, chest pain, and food impaction. Drugs used in the treatment of EoE include proton pump inhibitors, topical corticosteroids, mast cell stabilizers, and immunosuppressants. Topical steroids are commonly prescribed as the first-line treatment due to their effectiveness and safety profile. Recent years have seen improved diagnosis of EoE due to growing awareness among physicians and patients about its symptoms.
The global Eosinophilic Esophagitis Market is estimated to be valued at US$ 245.92 million in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Growing awareness about the condition: The prevalence of EoE is rising globally due to growing knowledge about its symptoms among patients as well as physicians. Educational campaigns by patient advocacy groups have promoted early diagnosis and treatment-seeking behavior. This is expected to drive the demand for EoE drugs over the forecast period.
Improved treatment options: The development of new therapeutic agents and treatment approaches are further fueling the market growth. For example, monoclonal antibodies targeting specific inflammatory pathways show promise. Ongoing clinical trials evaluating their safety and efficacy could lead to novel treatment options entering the market in the coming years.
This growth in awareness and treatment innovations is fueling the expansion of the global Eosinophilic Esophagitis market. The availability of diverse treatment choices and rising diagnosis rates will collectively support the market presence over the forecast period.
Segment Analysis
The eosinophilic esophagitis market is dominated by the topical therapy segment. This segment holds the largest market share of over 40% as of 2023. Topical therapy such as fluticasone propionate and budesonide are widely preferred treatments for eosinophilic esophagitis as these are generally more effective than oral corticosteroids and provide targeted relief. Further, these topical agents are associated with fewer side effects and hence are better tolerated by patients.
PEST Analysis
Political: The government authorities are increasingly focusing on addressing the burden of gastrointestinal diseases. Growing policy support in terms of favorable reimbursement policies for eosinophilic esophagitis therapies is boosting the market growth.
Economic: Rising healthcare expenditure across developed economies is a key factor fueling the demand for advanced treatment options for eosinophilic esophagitis. Additionally, the growing per capita income is enabling better access to high-cost therapies.
Social: Gradually increasing awareness about eosinophilic esophagitis and its treatment options among patients and physicians is propelling the market expansion. Moreover, the growing social stigma associated with gastrointestinal diseases is driving patients to seek optimal therapies.
Technological: The recent years have witnessed significant advancements in drug delivery systems for eosinophilic esophagitis therapies. Novel formulations with improved adherence and reduced administration frequency are enhancing patient outcomes.
Key Takeaways
The global Eosinophilic Esophagitis Market Growth is expected to witness high growth over the forecast period of 2023 to 2030. The global Eosinophilic Esophagitis market is estimated to be valued at US$ 245.92 million in 2023 and is expected to exhibit a CAGR of 7.1% over the forecast period 2023 to 2030.
Regional analysis comprises Regional analysis relates to North America representing the largest regional market. The United States contributes around 85% of the global market value owing to the high prevalence rate and developed healthcare infrastructure in the country.
Key players related content comprises Key players operating in the eosinophilic esophagitis market are Thermo Fisher Scientific, SIGMA-ALDRICH, Abbott, Becton, Dickinson and Company, bioMerieux, Bio-Rad Laboratories, Danaher, DiaSorin, Hologic, Illumina, Qiagen, Roche Diagnostics and Siemens Healthineers.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
