by Market Overview:
Eosinophilic Esophagitis (EoE) is a chronic immune/antigen-mediated disease characterized by eosinophil-predominant esophageal inflammation and dysfunction. The most common symptoms include dysphagia, food impaction, heartburn, abdominal pain and feeding difficulties in children. The condition requires lifelong treatment including dietary modification and medication. The global increase in cases of food allergies and environmental allergies has led to rise in EoE diagnostics globally.
Market Dynamics:
The primary drivers fueling the Eosinophilic Esophagitis market growth are rising environmental allergies and food sensitization rates globally. According to a study published in Journal of Allergy and Clinical Immunology, the prevalence rate of environmental allergies increased from 7% in 1997 to 18% in 2011 in the US. Moreover, as per the Asthma and Allergy Foundation of America, more than 50 million Americans suffer from food allergies currently. The growing incidences of allergies predispose the risk of EoE thereby boosting the market size. Additionally, increasing adoption of guidelines for standardized EoE diagnosis is also promoting early disease detection and treatment adoption.
The global Eosinophilic Esophagitis Market Growth is estimated to be valued at US$ 245.92 Mn in 2023 and is expected to exhibit a CAGR of 33.% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Segment Analysis
The eosinophilic esophagitis market is segmented into topical therapeutics, oral corticosteroids, and biologics. Among these, the topical therapeutics segment currently dominates the market due to the non-invasive nature of treatment options like fluticasone propionate. Topical therapeutics do not enter the bloodstream and have fewer side effects than other segments.
PEST Analysis
Political: Healthcare reforms and regulations surrounding drug approval processes impact the development of new therapeutics for eosinophilic esophagitis.
Economic: The rising disposable incomes in developing countries increase healthcare spending and drive the market growth. However, high treatment costs can restrain the market.
Social: Growing public-private partnerships help raise awareness about eosinophilic esophagitis and its treatment options. This encourages patients to seek diagnosis and treatment.
Technological: Advancements in endoscopy and immunohistochemical staining techniques aid accurate diagnosis. New drug delivery mechanisms and targeted biologics also support better management of the condition.
Key Takeaways
The global eosinophilic esophagitis market is expected to witness high growth at a CAGR of 33% over the forecast period of 2023 to 2030, driven by increasing awareness and diagnosed prevalence rates.
The North American region currently dominates the global market due to developed healthcare infrastructure and growing research activities in the region. However, the Asia Pacific region is expected to grow at the fastest pace due to rising medical tourism, healthcare spending and massive patient pool.
Key players operating in the eosinophilic esophagitis market are Ellodi Pharmaceuticals, EsoCap AG, GlaxoSmithKline plc., Teva Pharmaceutical Industries Ltd., Cipla Limited, Sun Pharmaceutical Industries Limited, AstraZeneca Plc, Sanofi S.A., Arena Pharmaceuticals, Inc., Takeda Pharmaceutical Company Limited, Revolo Biotherapeutics, Allakos Inc., Bristol-Myers Squibb Co, Calypso Biotech, DBV Technologies, Landos Biopharma, Inc., Glenmark Pharmaceuticals, Alkem Laboratories Ltd., Quorum Innovations LLC, and Dr. Falk Pharma GmbH. These major players are focusing on developing advanced therapeutics through collaborations and clinical trials.
