The global eosinophilic esophagitis market is on the brink of unprecedented growth, according to a comprehensive report by Future Market Insights (FMI). The report forecasts a staggering increase from USD 172.21 Billion in 2023 to a remarkable USD 2,032.8 Billion by 2033, indicating a robust Compound Annual Growth Rate (CAGR) of 28% during the forecast period from 2023 to 2033.
The findings reveal that from 2018 to 2023, the market has already experienced significant growth, boasting a CAGR of 23%. This remarkable expansion is attributed to various factors, with a key driver being the surge in funding and investments dedicated to eosinophilic esophagitis (EoE) clinical trials.
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The rapid growth of the eosinophilic esophagitis market underscores the pressing need for innovative treatments and therapeutics to address this debilitating condition effectively. As prevalence rates continue to rise globally, fueled by factors such as changing dietary habits and environmental triggers, stakeholders across the healthcare spectrum are intensifying their efforts to develop novel interventions.
One noteworthy example is the clinical trial at the Children’s Hospital of Philadelphia (CHOP), focused on patients with severe food allergies, including eosinophilic esophagitis (EoE). The trial, generously funded by the Mondre and Lane families in November 2021, exemplifies the increasing commitment to advancing research and treatment options for EoE.
The rising prevalence of eosinophilic esophagitis worldwide underscores the urgency and importance of investing in innovative solutions. As the market continues to evolve, stakeholders are encouraged to explore strategic partnerships and collaborations to capitalize on the immense opportunities within this dynamic sector.
Key Takeaways from the Market Study:
- The global eosinophilic esophagitis market size is estimated to reach USD 172.21 Billion in 2023.
- The market is projected to increase at a CAGR of 28% during the forecast period between 2023 and 2033, reaching a total of USD 2032.8 Billion in 2033
- Proton pump inhibitors held the largest share of the market in 2023, accounting for 54% of the market value.
- The North American market for eosinophilic esophagitis expanded with a market share of 33% in 2022.
- It is projected that Asia Pacific will exhibit the fastest growth rate during the forecast period.
“Artificial intelligence and technology are expected to play a significant role in the growth of natural treatments for EoE conditions due to the increase in the prevalence of gastroesophageal disease and approval of new drugs.” comments a Future Market Insights analyst.
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Competitive Landscape:
Through product line expansions, acquisitions, and mergers, many companies are expected to focus on research and the creation of innovative diagnostic techniques in the near future.
- In June 2021, the National Institute for Health and Care Excellence (NICE) of England and Wales, part of the Department of Health in England, approved the Jorveza budesonide orodispersible tablet for treating individuals suffering from eosinophilic esophagitis. This is the first European approval.
- An innovative drug delivery platform has enabled Eupraxia Pharmaceuticals Inc. to enter Phase 2 clinical testing. The company announced that it has enrolled, randomized, and dosed the last patient in its Phase 2 trial to test EP-104 for osteoarthritis (“OA”) of the knee. Eupraxia has completed another significant step in its Phase 2 trial, dosing the last patient and removing patient accrual risk.
Key Companies Profiled:
- 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.
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Key Segments Profiled in the Eosinophilic Esophagitis Industry Survey:
By Drug Class:
- Corticosteroids
- Budesonide
- Jorveza
- Off-label budesonide
- Fluticasone
- Budesonide
Proton Pump Inhibitor (PPI)
- Omeprazole
- Esomeprazole
- Others
Late-Stage Pipeline Drugs
- Dupixent
- APT-1011
- Lirentelimab (AK002)
- Cendakimab
- Etrasimod
- TAK-721
- Omilancor (BT-11)
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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