PUBLISHER: The Business Research Company | PRODUCT CODE: 1427719
PUBLISHER: The Business Research Company | PRODUCT CODE: 1427719
Barrett's esophagus is a medical condition characterized by damage to the flat pink lining of the esophagus, the tube connecting the mouth to the stomach, due to acid reflux. This damage causes thickening and redness of the lining. Barrett's esophagus is more resilient to stomach acid than squamous cells and intestinal cells, suggesting tissue changes that protect the esophagus from acid exposure. The condition is more common in men, and it occurs more frequently in white individuals.
The main types of Barrett's esophagus are no dysplasia, low-grade dysplasia, high-grade dysplasia, and others. No dysplasia refers to column-such as cells, including goblets that are blue and filled with mucin. Treatment options include medication, endoscopic therapy, surgery, and others, administered through oral, parenteral, rectal, and other routes. These treatments are available through various distribution channels, including hospital pharmacies, retail pharmacies, online pharmacies, and others.
The barrett esophagus market research report is one of a series of new reports from The Business Research Company that provides barrett esophagus market statistics, including barrett esophagus industry global market size, regional shares, competitors with a barrett esophagus market share, detailed barrett esophagus market segments, barrett esophagus market trends and opportunities, and any further data you may need to thrive in the barrett esophagus industry. This barrett's esophagus market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The barrett's esophagus market size has grown strongly in recent years. It will grow from $5.98 billion in 2023 to $6.33 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period of Barrett's esophagus can be attributed to factors such as the increasing prevalence of gastroesophageal reflux disease (GERD), an aging population, heightened awareness, and screening programs, the obesity epidemic, as well as tobacco and alcohol consumption.
The barrett's esophagus market size is expected to see strong growth in the next few years. It will grow to $8.1 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period for Barrett's esophagus can be attributed to factors such as advancements in genetic and molecular research, the adoption of personalized medicine approaches, an increased focus on early detection, rising global healthcare expenditure, and the integration of artificial intelligence (AI). Major trends in the forecast period include collaborative research initiatives, innovations in endoscopic technologies, advancements in diagnostic technologies, integration of patient registries, and lifestyle modification programs.
The escalating incidence of esophageal cancer is anticipated to drive the expansion of the Barrett esophagus market in the foreseeable future. Esophageal cancer denotes a type of malignancy impacting the elongated, hollow tube linking the throat to the stomach. This rise in cancer cases is notably observed in individuals diagnosed with Barrett's esophagus with dysplasia. Notably, the likelihood of developing esophageal cancer significantly heightens in individuals exhibiting high-grade dysplasia within Barrett's esophagus. For instance, projections from the American Cancer Society in 2023 estimate an affliction of approximately 21,560 individuals, showcasing an increase from the 20,640 cases reported in 2022. Consequently, the heightened risk of esophageal cancer serves as a primary driver fueling the growth of the Barrett esophagus market.
The prevalence of obesity at an elevated rate is poised to propel the expansion of the Barrett esophagus market in the coming years. Obesity, a multifaceted condition characterized by the excessive accumulation of body fat leading to increased body weight, is intricately linked to a higher susceptibility to developing Barrett's esophagus. This condition manifests as alterations in the esophageal lining due to prolonged exposure to stomach acid. The surplus weight and abdominal fat associated with obesity contribute significantly to the onset of gastroesophageal reflux disease (GERD), which, over time, may lead to Barrett's esophagus. Notably, as of March 2022, the World Health Organization (WHO) reported that over 1 billion individuals globally were affected by obesity, encompassing 340 million teenagers, 650 million adults, and 39 million children annually. The WHO further predicts that by 2025, 167 million adults and children will experience health complications due to being overweight or obese. Consequently, the heightened prevalence of obesity serves as a key factor driving the growth trajectory of the Barrett esophagus market.
Product innovation stands as a prominent trend gaining momentum within the Barrett esophagus market. Leading companies in this sector are directing their efforts toward the creation of novel and innovative products to fortify their market positions. A notable example occurred in April 2023, when, Laborie Medical Technologies, a leading US-based medical technology company, introduced the alpHaONE wireless pH-capsule reflux testing diagnostic system. Specifically designed for diagnosing gastroesophageal reflux disease (GERD), this innovative system offers a monitoring capability for up to 96 hours. It boasts a compact design featuring larger buttons and a fail-safe capsule delivery method. The comprehensive system includes proprietary software with a virtual instruction program, as well as user-customizable symptom buttons, enhancing its usability and diagnostic precision.
Major entities operating within the Barrett esophagus market are dedicated to developing the C2 CryoBalloon Ablation System to elevate patient care standards and augment healthcare quality. A significant milestone was witnessed in October 2022 when PENTAX Medical, a US-based medical technology firm, launched the C2 CryoBalloon Ablation System in Canada. Engineered specifically for treating Barrett's esophagus, this system facilitates ablation therapy for a broad spectrum of patients, encompassing both naive and refractory cases of Barrett's esophagus.
In December 2021, Castle Biosciences, Inc., a US-centered diagnostics company dedicated to advancing disease management, completed the acquisition of Cernostics for an estimated $1 billion. This strategic acquisition aims to bolster its business footprint, penetrate new markets, and harness innovative technologies and expertise. Cernostics, Inc., the acquired entity, operates as a molecular diagnostic company based in the US, specializing in the detection of esophageal cancer among patients with Barrett's esophagus.
Major companies operating in the barrett's esophagus market report are F Hoffmann-La Roche Ltd., Sanofi SA, AstraZeneca PLC, GlaxoSmithKline PLC, Takeda Pharmaceutical Company Limited, Medtronic PLC., Merck KGaA, Teva Pharmaceutical Industries Ltd., Boston Scientific Corporation, AdventHealth Medical Group, Olympus Corporation, Eisai Co. Ltd., Steris PLC, Aurobindo Pharma Limited, Cook Medical Inc., Endo International PLC, Sun Pharmaceutical Industries Limited, Ironwood Pharmaceuticals Inc., Spectrum Health System, Sebela Pharmaceuticals Inc., Phathom Pharmaceuticals Inc., EndoGastric Solutions Inc., NinePoint Medical Inc., Mederi Therapeutics Inc., SRS Pharmaceuticals Pvt. Ltd., Pinnacle Biologics Inc., Addex Therapeutics Ltd., Johnson & Johnson Private Limited, SpectraScience Inc., Zydus Group
North America was the largest region in the barrett esophagus market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the barrett's esophagus market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the barrett's esophagus market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The barrett esophagus market includes revenues earned by entities by providing pathology services, treatment services and diagnostic services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Barrett's Esophagus Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on barrett's esophagus market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for barrett's esophagus ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The barrett's esophagus market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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