The global 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 (EoE) is a chronic inflammatory condition of the oesophagus marked by the infiltration of eosinophils in the esophagus. The condition leads to difficulty in swallowing and abdominal pain. Conventionally, the disease was managed through dietary changes and acid suppression therapy using proton pump inhibitors. However, recent approval of therapies for EoE such as dupilumab and others provide disease modifying treatment options. These medications help in reducing the level of eosinophils in the esophagus and prevent recurrence of symptoms.
Market key trends:
One of the key trends in the eosinophilic esophagitis market is the rising number of approvals for disease modifying therapies. In October 2021, Dupixent (dupilumab), an interleukin-4 receptor alpha antagonist developed by Sanofi and Regeneron Pharmaceuticals received approval from the U.S. FDA for treatment of EoE in patients aged 12 years and older. Dupixent was the first biologic therapy approved for EoE. Furthermore, in 2022, Allakos Inc. received breakthrough therapy designation from the FDA for its lead candidate lirentelimab for treatment of EoE. Such approval and designation of novel therapies provide promising treatment alternatives and drive the market growth.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as EoE is a rare disease and requires high R&D investment for drug development. However, companies may try to enter the market by developing novel therapeutic approaches.
Bargaining power of buyers: The bargaining power of buyers is low since treatment options for EoE are limited. Patients have little influence on pricing as they need treatment.
Bargaining power of suppliers: The bargaining power of suppliers is high due to intellectual property protection and indispensable role played by drug makers in the treatment of EoE.
Threat of new substitutes: The threat of new substitutes is high as companies are developing novel biologics and targeted oral therapies which can replace existing treatment options for EoE over time.
Competitive rivalry: High due to presence of many key players developing therapies for EoE.
Key Takeaways
The Global Eosinophilic Esophagitis Market Share is expected to witness high growth at a CAGR of 33% over the forecast period, driven by increasing incidence of EoE and lack of approved drugs.
Regional analysis: North America dominates the global EoE market and is expected to continue its dominance during the forecast period. This is attributed to growing awareness about EoE, strong reimbursement structure, and increasing funding for research activities in the US and Canada. Europe is also expected to witness significant growth owing to rising burden of EoE and allergic diseases.
Key players analysis: 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. These players are focused on developing novel oral and biologic therapies for more effective treatment of EoE.
For more insights, Read-
https://www.insightprobing.com/eosinophilic-esophagitis-market-trends-size-and-share-analysis
