As per Future Market Insights (FMI), the global esophageal implant industry size is expected to expand from USD 147.0 million in 2023 to USD 280.2 million by 2033. Over the next decade (2023 to 2033), global esophageal implant sales are likely to soar at 6.7% CAGR.
Several factors are expected to drive the global market for esophageal implants. These commonly include increasing prevalence of esophageal illnesses, and growing popularity of minimally invasive procedures.
Similarly, adoption of esophageal implants will be driven by technological breakthroughs and product innovation. Improved attributes, such as improved biocompatibility, durability, ease of insertion, and patient comfort, tend to increase market share and boost sales.
Compliance with regulatory requirements and regulatory approvals are required for the commercialization and selling of esophageal implants. Companies that have gotten all of the relevant certifications and approvals have a competitive advantage and better sales.
Reimbursement policies and coverage for esophageal implants have an impact on sales since they affect patients’ access to and affordability of these devices. Favorable reimbursement regulations can boost esophageal implant acceptance and sales.
Because of variances in healthcare infrastructure, disease incidence, economic variables, and cultural factors, demand for esophageal implants varies among areas and countries. Companies may need to adjust their sales strategy to target various regional areas.
Key Takeaways:
- Global sales of esophageal implants are expected to surge at 7% CAGR through 2033.
- Based on product, esophageal stents segment is forecast to progress at 0% CAGR from 2023 to 2033.
- By application, the gastroesophageal reflux disease (GERD) segment is poised to exhibit 4% CAGR through 2033.
- By end-use, hospitals segment is anticipated to expand at a CAGR of 1% over the forecast duration.
- The United States esophageal implant industry value is likely to reach USD 105.2 million by 2033.
- The United Kingdom esophageal implant industry is estimated to reach a valuation of USD 14.11 million by 2033.
- Esophageal implant demand in China is expected to increase at 6% CAGR through 2033.
- Japan market is predicted to reach a valuation of USD 4.4 million by 2033.
- South Korea’s esophageal implant industry is poised to exhibit 9% CAGR during the forecast period.
“Rising prevalence of esophageal disorders globally will create high demand for esophageal implants during the assessment period. To gain profits, manufacturers should focus on markets with favorable regulatory environments and operational guidelines.” – says a lead analyst at Future Market Insights (FMI)
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Who is winning?
Leading manufacturers of esophageal implants include Boston Scientific, Medtronic, Cook Medical, Taewoong Medical., Micro-Tech (Nanjing) Co., Ltd., Ella-CS, M.I. Tech, Merit Medical, Xlumena Inc., Olympus Corporation, Johnson & Johnson, Apollo Endosurgery, Inc., EndoStim, NDO Surgical, Inc, Mederi Therapeutics, Becton Dickenson & Company, and Baxter International (Synovis Surgical Innovations) among other companies.
These key players are increasingly spending money on research and development activities to develop new products with better features. To fulfill shifting customer needs, they are also focusing on expanding their product line and bolstering their distribution networks.
Tactical alliances and connections with other firms are progressively popular in the sector, permitting participants to utilize one another’s strengths and broaden their influence in the marketplace.
Leading firms also adopt strategies such as mergers, partnerships, acquisitions, and collaborations to strengthen their position in the market and get access to new markets.
Recent developments:
- In 2020, Olympus started the commercial launch of HANAROSTENT Esophagus TTS Stent.
More Insights Available:
Future Market Insights (FMI), in its new offering, presents an unbiased analysis of the esophageal implant industry presenting historical data (2017 to 2022) and forecast statistics for the period from 2023 to 2033.
The study reveals future market projections based on product (esophageal stents, magnetic sphincter augmentation (MSA) devices, injectable bulking agents, and artificial esophageal valves), application (gastroesophageal reflux disease (GERD), esophageal strictures, esophageal fistulas, esophageal defects, and weakened esophageal sphincters), and end user (hospitals, ambulatory surgical centers, specialty clinics, academic & research institutions, and weakened esophageal sphincters) across various regions.
Esophageal Implant Market Segmentation:
By Product:
- Esophageal Stents
- Self-Expandable Metal Stents (SEMS)
- Polymer Stents
- Biodegradable Stents
- Hybrid Stents
- Magnetic Sphincter Augmentation (MSA) Devices
- Injectable Bulking Agents
- Artificial Esophageal Valves
- Endoscopic Esophageal Valves
- Prosthetic Esophageal Valves
By Application:
- Gastroesophageal Reflux Disease (GERD)
- Esophageal Strictures
- Esophageal Fistulas
- Esophageal Defects
- Weakened Esophageal Sphincters
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
- Academic & Research Institutions
- Weakened Esophageal Sphincters
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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