New York, United States , May 29, 2023 (GLOBE NEWSWIRE) -- The Global Barrett’s Esophagus Market Size is to grow from USD 6.7 billion in 2022 to USD 12.5 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 6.4% during the forecast period. Growing obesity rates and increased alcohol consumption, both of which cause GERD in people and lead to Barrett's esophagus, are estimated to propel the market forward. The market is expected to grow in the coming years due to the increasing prevalence of BE with dysplasia, the rising adoption of endoscopic therapies, and the development of new drugs and medical devices.
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Barrett's esophagus is one potentially dangerous symptom of gastroesophageal reflux disease (GERD). The esophagus is the tube that transports food from the mouth to the stomach. In Barrett's esophagus, the normal tissue lining the esophagus transforms into tissue that resembles the gut lining. Barrett's esophagus affects 10% of those who have had GERD symptoms for a long time. Although the illness doesn't have any distinctive symptoms, patients with Barrett's esophagus may have GERD symptoms. More acid-resistant intestinal cells than squamous cells may be seen in Barrett's esophagus, indicating that the esophagus is protected from acid exposure by the alterations in the tissue. It is rare in Black and Asian people. In people who have this disease, BE raises the risk of esophageal cancer. Effective management of Barrett's esophagus with dysplasia is necessary to reduce the risk of cancer and improve patient outcomes. The range of options for treating BE with dysplasia depends on the severity of the dysplasia, the patient's age, co-existing diseases, and preferences. Numerous medications and pieces of medical technology used for endoscopic procedures, such as photodynamic therapy agents, endoscopic mucosal resection instruments, and radiofrequency ablation catheters, are available to treat Barrett's esophagus with dysplasia.
The rising expense of healthcare contributes to its infrastructure's improvement. The initiatives of various government agencies to improve healthcare infrastructure by increasing funding will also influence market dynamics. Additionally, the market for Barrett's esophagus is anticipated to be impacted by chronic acid reflux and severe heartburn. You are more likely to develop Barrett's esophagus if your GERD is severe enough to require daily medication or if it doesn't improve when you use proton pump inhibitors. The market for Barrett's esophagus will also expand as a consequence of increased initiatives by public and private organizations to increase public knowledge of thyroid disorders and family history. Furthermore, the price of the therapy is too costly, which will slow down the market's growth. The market for Barrett's esophagus will have difficulties because of a lack of skilled personnel and a weak healthcare system in developing countries. Additionally, during the forecast period, the market's growth rate may be constrained and hampered by the lack of a disease etiology and low levels of public awareness. The number of medications that are approved by the regulatory authorities for use in treating Barrett's esophagus with dysplasia may also be constrained by strict standards. Patients' access to cutting-edge therapies may be impacted by this.
Browse key industry insights spread across 212 pages with 124 market data tables and figures & charts from the report on "Global Barrett’s Esophagus Market Size, Share, and COVID-19 Impact Analysis By Type (No Dysplasia, Low-Grade Dysplasia, High-Grade Dysplasia, Others), By Diagnosis (Endoscopy, Biopsy, & Others), By Treatment (Medication, Endoscopic Therapy, Surgery, & Others), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Pharmacy, & Others) By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022– 2032" Get Detailed Report Description Here:
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The high-grade dysplasia segment is influencing the market with the largest market share during the forecast period.
The global market for Barrett's esophagus is divided into several categories based on type, including no dysplasia, low-grade dysplasia, high-grade dysplasia, and others. High-grade dysplasia has the biggest market share among these segments over the forecasted period. High-grade dysplasia suggests that the tissue samples include more serious cellular abnormalities. Although the aberrant cells resemble cancer cells and are noticeably disorganized, they have not yet reached the deeper layers of the esophagus. Esophageal cancer is thought to be much more likely to occur in those with high-grade dysplasia. Endoscopic therapy or surgical intervention to remove or remove the aberrant tissue are two possible treatments.
Endoscopic therapy is dominating the largest market growth during the forecast period
The global market for Barrett's Esophagus is segmented into several subsectors based on the method of treatment, including medicine, endoscopic therapy, surgery, and others. Endoscopic treatment is currently the most popular among them. Endoscopic therapies, which are performed during an endoscopy to remove or eliminate aberrant cells in the esophagus, are minimally invasive medical procedures. These could involve procedures like cryotherapy, photodynamic treatment, or radiofrequency ablation (RFA).
The hospital pharmacy segment is leading the largest market share during the forecast period.
The global market for Barrett's Esophagus is divided based on the distribution channel into hospital pharmacies, retail pharmacies, internet pharmacies, and others. The hospital pharmacy market will have the largest share of these over the projected period. Because they are frequently the initial point of contact for patients with Barrett's esophagus, hospital pharmacists are crucial to the care of the condition. Access to a variety of drugs and specialist treatment options, such as invasive surgeries and cutting-edge imaging methods, is made possible by hospital pharmacists. These alternatives are crucial for the management of Barrett's Esophagus.
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North America is dominating the market with the largest market growth over the forecast period.
Due to the higher prevalence of obesity, gastric imbalance disorders, and medical spending in the area, North America now controls the majority of the worldwide market for Barrett's esophagus. The presence of significant businesses in this region will also help to drive the market's expansion. Additionally, North America has a well-established healthcare infrastructure with access to state-of-the-art medical equipment and qualified healthcare workers. This has facilitated the creation and dissemination of cutting-edge treatments for Barrett's esophagus.
Asia-Pacific is expected to rise over the projected period, due to the rising obesity rate and increase in generic manufacturers in the area. The rapid growth of the regional market will also be aided by the rise of the healthcare industry and the widespread use of alcohol in industrialized countries.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in Global Barrett’s Esophagus Market include GlaxoSmithKline plc, Novartis AG, Bayer AG, Eli Lilly and Company, Merck & Co., Inc., AstraZeneca, Johnson & Johnson Private Limited, Cipla Inc., Abbott, AbbVie Inc., Merck KGaA, Sun Pharmaceutical Industries Ltd., Aurobindo Pharma, Lupin, Dr. Reddy’s Laboratories Ltd., Pfizer Inc., Sanofi, F. Hoffmann-La Roche Ltd., Boehringer Ingelheim International GmbH, Procter & Gamble, Takeda Pharmaceutical Company Limited, Eisai Co., Ltd., & Others.
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Recent Development
In August 2022, the American College of Gastroenterology released new Barrett's esophagus guidelines, which urge increasing the frequency of short-segment Barrett's esophageal monitoring and establishing volume requirements for endoscopic treatment facilities.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the Global Barrett’s Esophagus Market based on the below-mentioned segments:
Global Barrett’s Esophagus Market, By Type
- No Dysplasia
- Low-Grade Dysplasia
- High-Grade Dysplasia
- Others
Global Barrett’s Esophagus Market, By Diagnosis
- Endoscopy
- Biopsy
- Others
Global Barrett’s Esophagus Market, By Treatment
- Medication
- Endoscopic Therapy
- Surgery
- Others
Global Barrett’s Esophagus Market, By Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Pharmacy
- Others
Barrett’s Esophagus Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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