Eosinophilic Esophagitis Market Is Estimated To Witness High Growth Owing To Increasing Disease Prevalence
Eosinophilic esophagitis (EoE) is a chronic immune/antigen-mediated esophageal disease characterized clinically by symptoms related to esophageal dysfunction and pathologically by eosinophil-predominant inflammation. It is typically diagnosed via upper endoscopy with biopsies and treated with dietary adjustments and/or medications that reduce eosinophilic inflammation.
The global Eosinophilic Esophagitis Market is estimated to be valued at US$ 245.92 Mn in 2023 and is expected to exhibit a 61% CAGR over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Increasing disease prevalence has been a major driver contributing to the growth of the eosinophilic esophagitis market over the forecast period. For instance, according to a 2016 study published in the Journal of Allergy and Clinical Immunology, the annual incidence of EoE varies from 1 to 6 new cases per 100,000 individuals. Moreover, increasing awareness about available treatment options such as topical corticosteroids and anti-IL5 biologics among patients and physicians is also expected to support market growth over the coming years. However, high costs associated with EoE biologics may hinder market growth over the forecast period.
SWOT Analysis
Strength:
-Eosinophilic esophagitis is a chronic disease requiring long term treatment and thus creates consistent demand for drugs. The long term nature of treatment ensures stable revenues for pharmaceutical companies.
- Rising awareness about eosinophilic esophagitis among patients and physicians aids in early detection and timely intervention. Early treatment can help manage the condition more effectively.
Weakness:
- There is limited understanding about the exact causes of eosinophilic esophagitis. This hinders development of curative treatment options.
- Existing treatment landscape mainly includes drug therapy which requires long term adherence limiting compliance. Non-drug alternatives are still under research.
Opportunity:
- Growing research into novel biologics and targeted therapies provides an opportunity to introduce more effective and affordable treatment options.
- Increased strategic collaborations between pharma ceutical companies and research institutions can help expedite drug development.
- Untapped markets in developing regions presents an avenue to expand geographic footprint.
Threats:
- Entry of generic versions once patented drugs lose exclusivity intensifies competition posing pricing challenges.
- Stringent regulations for approval of new drugs increases time and costs of drug development.
Key Takeaways
The global Eosinophilic Esophagitis Market Demand is expected to witness high growth over the forecast period supported by rising disease prevalence, growing diagnostics rates and availability of advanced treatment options. The global Eosinophilic Esophagitis Market is estimated to be valued at US$ 245.92 Mn in 2023 and is expected to exhibit a 61% CAGR over the forecast period 2023 to 2030.
Regional analysis: North America currently dominates the global market and is expected to continue its leadership through 2030. This can be attributed to well-established healthcare systems, high adoption of advanced treatments and favorable reimbursement policies in the region. Asia Pacific is poised to witness fastest growth supported by large patient pools, increasing accessibility to diagnosis and therapeutic services.
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.
Get More Insights On This Topic: https://blogger-veritas.blogspot.com/2023/12/the-global-eosinophilic-esophagitis.html
English
Arabic
Français
Español
Português
Deutsch
Türkçe
Italiano
Russian
Romaian