Esophageal Catheters Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Esophageal Catheters Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The esophageal catheters market is poised to grow at a CAGR of 7.2% over the forecast period.

The COVID-19 pandemic has severely impacted the market. Since the beginning of the pandemic, there had 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 published in September 2021, titled “Assessing the genetic relationship between gastroesophageal reflux disease and risk of COVID-19 infection”, 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 risk of COVID-19 hospitalization, with magnetic resonance imaging (MRI), results indicating a possible causal relationship between the two. In addition to causing digestive symptoms, there was concern that the virus could travel beyond the gastrointestinal (GI) tract by infecting or encouraging inflammation in other organ systems, particularly the respiratory tract, via a "gut-lung axis". The gut is the body's largest immunological organ and could support colonies of rapidly replicating SARS-COV-2. Such studies and research indicate a link between COVID-19 and GERD. Hence, COVID-19 pandemic had a significant impact on the market.

The growing prevalence of chronic esophageal disorders and rising research and development activities are the major factors that are boosting the growth of the esophageal catheter market globally. For instance, as per the article “Gastroesophageal Reflux Disease” updated in July 2022 by the National Library of Medicine, GERD is one of the most common chronic gastrointestinal disorders, affecting around 20% of people in western culture each year, and is defined by 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 published in April 2022, titled "the global prevalence of oropharyngeal dysphagia in different populations: a systematic review and meta-analysis", the global prevalence rate of oropharyngeal dysphagia (OD) was assessed to be 43.8% in 2021 and Africa having the highest prevalence rate at 64.2% in 2021. Hence, the growing prevalence of gastroesophageal diseases is boosting the 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 catheters market globally. Furthermore, product approvals, launches, partnerships, and acquisitions are also supporting the market growth. For instance, in July 2020, Allurion Technologies expanded into the Asian market with the launch of the Elipse Gastric Balloon Weight Loss Program in Hong Kong, Malaysia, and Singapore.

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.

Key Market TrendsGastroesophageal Reflux Disease (GERD) Segment Holds a Significant Market Share

Gastroesophageal reflux disease encompasses numerous GERD diagnostic and therapy options. The 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 “Prevalence of Gastroesophageal Reflux Disease and Associated Risk Factors in the Eastern Region, Saudi Arabia” published in November 2021, indicated that the estimated prevalence of GERD in 2021 ranged from 15% to 25%, whereas in Saudi Arabia had 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 throughout the study. Thus, the growing prevalence of GERD diseases is expected to drive the demand for esophageal catheters, thereby 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, all the above-mentioned factors are expected to boost segment growth over 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 behind the large market size in North America. In an article titled "Gastroesophageal Reflux Disease" published in the National Library of Medicine in July 2022, GERD has the highest prevalence in the United States, affecting 18.1% to 27.8% of people per year. Such a high burden of disease in the country is anticipated to demand the availability and development of advanced and effective devices. Thereby, driving the market growth in the country.

The approvals and launches are primary drivers of the segment's growth. For instance, in October 2021, Spatz Medical received the Food and Drug Administration 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 United States Food and Drug Administration 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 the factors mentioned above, the market studied is anticipated to witness growth in the region.

Competitive Landscape

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, PENTAX Medical amongst others.

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