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Report
Esophageal Catheters - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029
Market Report I 2024-02-17 I 125 Pages I Mordor Intelligence
The esophageal catheters market is valued at USD 2.72 billion in 2024 and is expected to reach USD 3.94 billion by 2029, registering a CAGR of 7.65% over the forecast period (2024-2029).
The COVID-19 pandemic severely impacted the market. Since the beginning of the pandemic, there have been numerous discussions regarding the impact of COVID-19 on several areas of human health, and gastroesophageal disease was no exception. According to the study by the National Institute of Health pf Health published in September 2021, the results of an observational study conducted to investigate the possibility of a shared genetic basis between Gastroesophageal reflux disease (GERD) and COVID-19 hospitalization revealed a susceptible genetic co-relationship between GERD and the risk of COVID-19 hospitalization, with magnetic resonance imaging (MRI), results indicating a possible causal relationship between the two. Such studies and research indicate a link between COVID-19 and GERD. Hence, it was observed that the COVID-19 pandemic had a significant impact on the market. However, the market has reached its pre-pandemic nature and is expected to witness strong growth over the forecast period.
The growing prevalence of chronic esophageal disorders and rising research and development activities for gastrointestinal disease management are the major factors boosting the growth of the esophageal catheter market globally. As per the article by the National Library of Medicine published in July 2022, GERD is one of the most common chronic gastrointestinal disorders, affecting around 20% of people in Western culture each year, and is defined as the regurgitation of gastric contents into the esophagus. As a result, it is likely to propel market expansion throughout the forecast period. In addition, as per the study by the National Institute of Health published in April 2022, the global prevalence rate of oropharyngeal dysphagia (OD) was assessed to be 43.8% in 2021, and Africa had the highest prevalence rate at 64.2% in 2021. Hence, the growing prevalence of gastroesophageal diseases is boosting market growth.
The technological advancements and growing elderly populace, as they are more prone to many chronic diseases, are anticipated to upsurge the growth of the esophageal catheter market globally. Furthermore, product approvals, launches, partnerships, and acquisitions also support market growth. For instance, the world's first and only swallowable gastric balloon for weight loss, manufactured by Allurion, was made available in India in September 2022. According to the company, the sole medical weight-loss device has received complete approval from the Central Drugs Standard Control Organization (CDSCO). Hence, with such innovations, the market studied is expected to grow significantly during the forecast period.
However, stringent regulatory approvals, poor availability of esophageal catheters in emerging nations, and the high cost of the devices are expected to hamper the esophageal catheters market growth globally.
Esophageal Catheters Market Trends
Gastroesophageal Reflux Disease (GERD) Segment Holds a Significant Market Share
Gastroesophageal reflux disease encompasses numerous GERD diagnostic and therapy options. GERD includes discomfort or a burning sensation in the upper portion of the stomach, nausea, abdominal bloating, and belching. The increasing prevalence of GERD is supporting market growth. For instance, the article by the National Institute of Health, published in November 2021, indicated that the estimated prevalence of GERD in 2021 ranged from 15% to 25% globally. In contrast, Saudi Arabia had a prevalence rate between 15% - 45.4%, Western Asia with 10% to 20%, the Middle East with 8.7% to 33.1%, and Eastern Asia reported less than 10% prevalence as of 2021. Thus, the growing prevalence of GERD diseases is expected to drive the demand for esophageal catheters, driving segment growth over the forecast period.
Furthermore, various initiatives taken by private players are expected to support market growth. For instance, in August 2022, Salvo Health, a digital gastrointestinal care firm, raised USD 10.5 million in venture funding. The firm provides a virtual clinic for those suffering from chronic gut issues such as irritable bowel syndrome (IBS), celiac disease, gastroesophageal reflux disease (GERD), dyspepsia, and small intestinal bacterial overgrowth (SIBO).
Thus, due to the increasing burden of GERD and increasing funding, the segment is believed to witness significant growth during the forecast period.
North America Dominates the Global Esophageal Catheters Market
The increasing prevalence of gastrointestinal diseases, favorable reimbursement policies, the aging population, and the presence of major market players are the primary factors responsible for the market growth in North America. An article by the National Library of Medicine published in July 2022 observed that GERD had the highest prevalence in the United States, affecting 18.1% to 27.8% of people annually. The country's high disease burden is anticipated to demand the availability and development of advanced and effective devices. Thereby driving market growth in the country.
The approvals and launches are the primary drivers of the market growth in the North American region. For instance, in October 2021, Spatz Medical received FDA approval for the Spatz3 Gastric Balloon, one of the first adjustable gastric balloons. These approvals are projected to increase the demand for gastric balloons and augment segment growth. Additionally, in March 2021, Apollo Endosurgery, Inc. received a breakthrough device designation from the US FDA for the orbera intragastric balloon, with a focus on the indication for use in treating patients with noncirrhotic nonalcoholic steatohepatitis (NASH) with liver fibrosis and a basal metabolic index (BMI) between 30 and 40 kg/m2. Hence, such launches are expected to increase the usage of gastric balloons in the region and augment market growth.
Therefore, owing to factors such as the increasing prevalence of gastrointestinal diseases and new product launches, the market studied is anticipated to grow in the region.
Esophageal Catheters Industry Overview
The esophageal catheters market is moderately consolidated owing to the presence of many small and large market players. Some of the market players are Boston Scientific Corporation, CooperSurgical Inc, CardioCommand, Inc., EB Neuro S.p.A., Medtronic, Pennine Healthcare, Panmed US, and Pentax Medical amongst others.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Prevalence of Esophageal Chronic Disorders
4.2.2 Growing Technological Advancements
4.3 Market Restraints
4.3.1 Stringent Regulatory Approval
4.3.2 Poor Availability of Esophageal Catheters in Emerging regions
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers/Consumers
4.4.2 Bargaining Power of Suppliers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD)
5.1 By Type
5.1.1 Balloon Dilation Catheter
5.1.2 Irrigation Catheter
5.1.3 Pressure Monitoring Catheter
5.2 By Application
5.2.1 Gastroesophageal Reflux Disease (GERD)
5.2.2 Dysphagia
5.2.3 Chest Pain
5.2.4 Other Applications
5.3 By End-User
5.3.1 Hospitals
5.3.2 Clinics
5.3.3 Ambulatory Surgical Centers
5.4 Geography
5.4.1 North America
5.4.1.1 United States
5.4.1.2 Canada
5.4.1.3 Mexico
5.4.2 Europe
5.4.2.1 Germany
5.4.2.2 United Kingdom
5.4.2.3 France
5.4.2.4 Italy
5.4.2.5 Spain
5.4.2.6 Rest of Europe
5.4.3 Asia-Pacific
5.4.3.1 China
5.4.3.2 Japan
5.4.3.3 India
5.4.3.4 Australia
5.4.3.5 South Korea
5.4.3.6 Rest of Asia-Pacific
5.4.4 Middle East and Africa
5.4.4.1 GCC
5.4.4.2 South Africa
5.4.4.3 Rest of Middle East and Africa
5.4.5 South America
5.4.5.1 Brazil
5.4.5.2 Argentina
5.4.5.3 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Boston Scientific Corporation
6.1.2 CooperSurgical Inc.
6.1.3 CardioCommand, Inc.
6.1.4 EB Neuro S.p.A.
6.1.5 Medtronic PLC
6.1.6 Unisurge International Limited (Pennine Healthcare)
6.1.7 Zavation (Panmed US)
6.1.8 Pentax Medical
6.1.9 Merit Medical Systems
6.1.10 Hamilton Medical
6.1.11 Allurion Technology
6.1.12 Charles River Inc.
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