Eosinophilic Esophagitis Market
Number of pages: 100 | Report Format: PDF | Published date: March 23, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
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Report Attribute |
Details |
|
Market Size Value in 2022 |
US$ 169.4 million |
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Revenue Forecast in 2031 |
US$ 941.8 million |
|
CAGR |
21% |
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Base Year for Estimation |
2022 |
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Forecast Period |
2023-2031 |
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Historical Year |
2021 |
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Segments Covered |
Drug Class, Distribution Channel, and Region |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the global eosinophilic esophagitis market was valued at US$ 169.4 million in 2022 and is expected to register a revenue CAGR of 21% to reach US$ 941.8 million by 2031.
Eosinophilic Esophagitis Market Fundamentals
Eosinophilic esophagitis is a chronic, immune-mediated, or antigen-mediated esophageal disease characterized by symptoms of inflammation that are predominately eosinophilic. This disease appears to be mediated by predominant food-based antigens. To properly diagnose gastroesophageal reflux disease (GERD), it is crucial to undergo evaluations by an allergist and a gastroenterologist. By evaluating the medical history, doctors suggest testing for food allergies, an upper endoscopy, or both for esophageal inflammation. Further, an endoscopy is performed, and if necessary, a biopsy of the lining of your esophagus will be performed to determine eosinophilic esophagitis. Eosinophilic esophagitis, once considered a rare disorder, is now one of the conditions that doctors most frequently find while evaluating children for feeding issues and adults for dysphagia and food impaction. Although the condition is present everywhere, it has received the greatest attention in Western nations, where its prevalence has been calculated to be 0.4% for both children and adults. Eosinophilic esophagitis incidence rates are rising globally, with estimates of 5–10 new cases per 100,000 people yearly. Even though eosinophilic esophagitis is becoming more common and commonplace, there is a lack of proper treatment. Although orodispersible budesonide tablets for eosinophilic esophagitis are now licensed in Europe and Canada, management still relies on the off-label use of drugs, such as proton-pump inhibitors (PPIs) and topical corticosteroids made for allergic airway conditions. This restricted range of treatments reveals a glaring care gap for patients and a focus on ongoing research.
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Eosinophilic Esophagitis Market Dynamics
The increased prevalence of eosinophilic esophagitis is the main factor responsible for the fast revenue growth of the global market. According to research, there are between 1 and 5 cases of eosinophilic esophagitis for every 10,000 people in the United States and Europe, with an increasing incidence in Asia. Patients undergoing endoscopy for a history of food impaction, for example, have a considerably increased frequency of up to 54%. Thus, the emergence of the disease necessitates the development of novel treatments.
In the near future, the market is anticipated to expand due to rising awareness of eosinophilic esophagitis and conditions. Numerous awareness campaigns have been created and implemented to raise awareness of eosinophil-related problems. These campaigns are anticipated to fuel market expansion throughout the projection period. The American Enterprise for Eosinophilic Disorders (APFED) is a nonprofit organization providing information, raising awareness, supporting, and advocating for patients and families coping with eosinophil-related conditions.
However, difficulties with regulatory approval are anticipated to impede market expansion. Since regulatory agencies like the U.S. Food and Drug Administration (FDA) place stringent criteria on corporations that develop, manufacture, market and distribute medicines, they take a lot of time and work to approve a drug. The market for eosinophilic esophagitis has been restricted due to the expensive nature of therapy and the lack of information provided to patients.
Eosinophilic Esophagitis Market Ecosystem
The global eosinophilic esophagitis market is analyzed from three perspectives: drug class, distribution channel, and region.
Eosinophilic Esophagitis Market by Drug Class
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Based on the drug class, the global eosinophilic esophagitis market is segmented as corticosteroids, budesonide, and proton pump inhibitor (PPI).
The proton pump inhibitor (PPI) segment accounted for the largest revenue share of the global eosinophilic esophagitis market in 2022. The most effective treatment for eosinophilic esophagitis is a PPI. This market is expanding for several reasons, such as an increase in GERD cases, acceptance of innovative drug delivery methods, and a rise in sales of PPIs. The market segment is anticipated to develop in the coming years as gastrointestinal illnesses, such as barrettes esophagus, duodenal ulcers, and non-erosive reflux disease, become more common. In the United States, PPIs have been administered more frequently in ambulatory settings in recent years. Another significant investment for many businesses is brand promotion. A campaign was started to advocate PPIs’ appropriate usage after the American Board of Internal Medicine recognized its widespread usage. The introduction of new products in the generic category will also impact the market. For instance, Hanmi Pharmaceutical recently developed Esomezol to address the need to treat gastritis. Industry observers pay close attention to which drug or component will win in the intense fight over treatments for eosinophilic esophagitis.
Eosinophilic Esophagitis Market by Distribution Channel
Based on the distribution channel, the global eosinophilic esophagitis market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies.
The hospital pharmacies segment accounted for the largest revenue share of the global eosinophilic esophagitis market in 2022. The hospital pharmacy significantly impacts the economics of healthcare expenses. Hospital pharmacies are significant drivers of industry expansion and play a crucial part in managing eosinophilic esophagitis. Hospital pharmacies have several benefits that help the market grow. Patients can receive a wider variety of drugs from the hospital pharmacy, including biologics that might not be accessible elsewhere. As a result, patients may receive the finest care available for their diseases. In addition, hospital pharmacies can collaborate closely with other medical specialists to offer patients with acute febrile neutrophilic dermatosis syndrome coordinated and specific therapy. Better treatment outcomes and patient satisfaction may arise from this. By educating patients on their drugs and how to take them correctly, these pharmacies can increase medication adherence and reduce the chance of side effects. The hospital pharmacy may also monitor patients’ drugs and help with any side effects or other issues that may come up during treatment. Doing this ensures that patients get the finest care possible and that the medicines work better. Additionally, these pharmacies can participate in eosinophilic esophagitis clinical trials and other research projects. This can support the creation of novel treatments and medications for the condition, helping patients and fostering market expansion.
Eosinophilic Esophagitis Market by Region
Based on the region, the global eosinophilic esophagitis market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America accounted for the largest revenue share of the global eosinophilic esophagitis market in 2022. North America retained the largest market share owing to its well-established healthcare system, high patient awareness, and promising eosinophilic esophagitis research opportunities. This market is expanding due to rising healthcare costs, a rise in the need for cutting-edge therapies, and a high diagnosis rate in North America. There is fierce competition between market participants to gain a first-mover advantage because there is no FDA-approved treatment for eosinophilic esophagitis, and the burden of the condition has been rising over the past several years. Major devoted organizations and academic institutions provide grants and funding for research, particularly in affluent nations. Examples include the Rare Diseases Clinical Research Network and APFED. To explore how the immune system interacts with food allergy chemicals causing the start of eosinophilic esophagitis in patients, the American Academy of Allergy, Asthma & Immunology, and APFED awarded a grant of US$ 140,000 for two years in 2020.
Due to rising disposable incomes, a sizable patient population with eosinophilic esophagitis, and a greater emphasis on healthcare, the Europe region is anticipated to develop at the quickest rate over the forecast period. The prospects for research and development are expected to be significantly impacted by nations like the United Kingdom that provide enticing investment options for clinical research. For instance, EsoCap supported the first European Society of Eosinophilic Esophagitis Day in May 2022. The first initiative in Europe focuses on eosinophilic esophagitis diagnosis and treatment routes.
Eosinophilic Esophagitis Market Competitive Landscape
Due to new product launches, mergers, and acquisitions, the global eosinophilic esophagitis market is relatively competitive. Some of the primary development tactics that many organizations prioritize include the introduction of novel therapies, securing approval for those goods, and taking part in additional initiatives, including awareness projects. Moreover, the market categorized partnerships, acquisitions, and numerous other forms of collaboration as better revenue growth tactics. With the expanding global market demand for eosinophilic esophagitis, these actions have raised the chance of having profitable revenue growth prospects in the future.
Notable market participants include:
Eosinophilic Esophagitis Market Strategic Developments
Eosinophilic esophagitis is an esophageal immune system disorder. In this disease, many white blood cells termed eosinophils are discovered in the esophageal lining. This buildup, which occurs due to a reaction to food, an allergy, or acid reflux, can inflame or harm the esophagus tissue.
A strong pipeline with advanced treatment drives the revenue growth of the global eosinophilic esophagitis market.
The lack of awareness and stringent government regulations for drug approval are the major restraining factors for the revenue growth of the global market.
Key companies operating in the global eosinophilic esophagitis market are Ellodi Pharmaceuticals, EsoCap AG, GlaxoSmithKline plc, Teva Pharmaceutical Industries Ltd., and Cipla Limited.
The global eosinophilic esophagitis market is expected to grow at a revenue CAGR of 21% during the forecast period from 2023 to 2031.
*Insights on financial performance are subject to the availability of information in the public domain