Esophageal Catheters Market Size

Esophageal Catheters Market Analysis

The Esophageal Catheters Market size is estimated at USD 2.72 billion in 2024, and is expected to reach USD 3.94 billion by 2029, growing at a CAGR of 7.65% during 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 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.