Market Overview:
Eosinophilic esophagitis is a chronic allergic inflammatory disease of the esophagus marked by an abnormal buildup of a type of white blood cell called eosinophils. The main symptoms include difficulty swallowing, abdominal pain, chest pain, nausea and vomiting. Treatment includes dietary and allergy testing restrictions, topical corticosteroids and biologics which help in managing the symptoms.
Market key trends:
The rising global prevalence of food allergies and subsequent growth of eosinophilic esophagitis is a major trend driving the growth of this market. According to a recent study, prevalence of food allergies in children has increased by 50% from 1997 to 2011 in the United States. This increased prevalence of food allergies has resulted in significant rise in cases of eosinophilic esophagitis in both adults and children worldwide. Other key trends include increasing research activities for developing novel treatment options such as biologics and approval and launch of new treatment drugs in the market.
Market key trends:
The key trend observed in Eosinophilic Esophagitis market is the increasing prevalence of Eosinophilic Esophagitis. It is estimated that prevalence of Eosinophilic Esophagitis has increased from 13 per 10,000 individuals in 2004 to 50 per 10,000 individuals in 2017. Food allergy or sensitivity is one of the major causes of Eosinophilic Esophagitis, increasing cases of food allergies or sensitivities is driving the growth of this market.
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.
SWOT Analysis
Strength: Growing research and development activities and increasing number of clinical trials for developing novel therapeutics.
Weakness: Lack of approved drugs and high cost of treatment.
Opportunity: Rising awareness about Eosinophilic Esophagitis and increasing healthcare expenditure in emerging markets.
Threats: Stringent regulatory frameworks and side effects associated with drugs.
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.
The growth is attributed to increasing prevalence of Eosinophilic Esophagitis worldwide. Food allergy or intolerance is a major triggering factor for Eosinophilic Esophagitis and changing dietary habits and growing consumption of processed foods in western countries is contributing to rising food allergies.
Regionally, North America dominated the global market in 2023 due to presence of sophisticated healthcare infrastructure and increasing healthcare spending. However, Asia Pacific is anticipated to exhibit the fastest CAGR during the forecast period owing to rising awareness about Eosinophilic Esophagitis in countries like India and China.
Key players operating in the Eosinophilic Esophagitis market include 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.