by Eosinophilic esophagitis is a chronic inflammatory disease of the esophagus that is characterized by eosinophil infiltration of the esophageal mucosa. The disease presents with a variety of gastrointestinal symptoms including difficulty swallowing, heartburn, abdominal pain and food impaction. Eosinophilic esophagitis can severely impact the quality of life if left untreated. Drugs to control eosinophilic cell activity and prevent their migration to the esophagus such as corticosteroids and leukotriene receptor antagonists are used for the management of the condition. Biologics targeting interleukin-5 are also emerging as a highly effective treatment option.
The global Eosinophilic Esophagitis Market is estimated to be valued at US$ 245.92 Mn in 2023 and is expected to exhibit a CAGR of 61.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
One of the key trends in the eosinophilic esophagitis market is the rising incidence of food and environmental allergies. Food allergies are believed to trigger eosinophilic esophagitis in the majority of cases. According to published scientific literature, the prevalence of food allergies among children has doubled between 1997 and 2011. Climate change and exposure to industrial chemicals are thought to be primary factors driving the increased allergy burden. As food and environmental allergies continue to rise globally, the patient pool requiring treatment for eosinophilic esophagitis is also expected to grow significantly over the next decade. Heightened efforts towards developing safer and more effective therapies can help manage this vulnerable patient population.
Porter’s Analysis
Threat of new entrants: The threat of new entrants entering the Eosinophilic Esophagitis Market is low due to high capital requirements for R&D and manufacturing of treatment and diagnostic devices.
Bargaining power of buyers: The bargaining power of buyers is moderate given the availability of few treatment options and the chronic and potentially life-threatening nature of the condition.
Bargaining power of suppliers: The bargaining power of suppliers is moderate with the presence of multiple research institutes and healthcare companies supplying drugs and devices for eosinophilic esophagitis.
Threat of new substitutes: There is a low threat of new substitutes emerging as eosinophilic esophagitis has few treatment alternatives currently.
Competitive rivalry: The competitive rivalry is high among the key players to gain major market share through new product launches and strategic collaborations.
Key Takeaways
The global Eosinophilic Esophagitis Market Demand 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 Mn in 2023 and is expected to exhibit a CAGR of 61.% over the forecast period 2023 to 2030.
Regional analysis: North America is anticipated to hold a major market share in the global Eosinophilic Esophagitis Market due to high prevalence of eosinophilic esophagitis and raising awareness about the disease in the region. The Asia Pacific region is anticipated to witness a robust growth rate during the forecast period due to improving healthcare infrastructure and rising healthcare spending in emerging economies like India and China.
Key players: Key players operating in the Eosinophilic Esophagitis Market are AutoX, Inc., Baidu, BMW AG, Daimler AG, EasyMile, Ford Motor Company, GM Cruise LLC, Hyundai, Tesla, Inc., and Waymo LLC. Key players are focusing on new product launches and strategic partnerships to improve their market presence and profitability.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
