The rising application of biologics and targeted therapy is anticipated to openup the new avenue for Eosinophilic Esophagitis Market
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| Eosinophilic Esophagitis Market |
The Eosinophilic Esophagitis Market 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.
Market Overview:
Eosinophilic Esophagitis is a chronic inflammatory disorder of the esophagus
that is characterized by symptoms like difficulty or pain while swallowing,
vomiting, choking, heartburn, abdominal or chest pain. The condition is caused
by an allergic reaction to foods or environmental allergens in the lining of
the esophagus. The most common symptoms include difficulty or pain while
swallowing, vomiting and chest or abdominal pain. Currently, there is no cure
for eosinophilic esophagitis. However, dietary adjustments and medicines can
help manage symptoms.
Market Dynamics:
The key drivers fueling the growth of eosinophilic esophagitis market are
rising incidences of food allergies and environmental allergies. According to a
study published in 2018, the prevalence of food allergies has increased by 50%
over the last decade. Another driver is the surging investment in research and
development of novel therapies by biopharmaceutical companies. For instance, in
2020, Landos Biopharma raised US$ 61 million in funding for its clinical-stage
candidate BT-11, a first-in-class therapy for eosinophilic esophagitis.
Additionally, increasing awareness about EoE diagnosis and availability of
treatment options amongst physicians and patients is expected to propel the
market growth over the forecast period.
Segment Analysis
The eosinophilic esophagitis market is dominated by topical corticosteroids sub
segment. Topical corticosteroids such as fluticasone and budesonide are first
line drugs for treatment of eosinophilic esophagitis. They are highly effective
in providing symptomatic relief and inducing clinical and histologic remission.
Hence, topical corticosteroids sub segment holds the largest market share.
PEST Analysis
Political: Government initiatives to increase awareness regarding eosinophilic
esophagitis and support research activities are creating opportunities.
Economic: Rising healthcare expenditure boosting the market growth. However,
high costs associated with biologics limits complete market potential.
Social: Growing cases and changing lifestyle leading to increase in allergic
disorders and gastrointestinal issues favoring the market growth.
Technological: Advancements in drug delivery systems are widening treatment
options. Development of novel therapies such as biologics holds promise.
Key Takeaways
The Global
Eosinophilic Esophagitis Market Share is expected to witness high
growth, exhibiting CAGR of 33% over the forecast period, due to increasing
awareness, diagnosis and preference for biologics.
Regionally, North America holds the largest market and is expected to continue
its dominance during the forecast period. Higher awareness levels,
well-established healthcare infrastructure and effective reimbursement policies
support the regional market growth.
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.
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