Global Esophageal Implant Market Poised for Strong Growth, Expected to Surpass USD 280 Million by 2033 at a 6.7% of CAGR

Esophageal Implant Market

The global esophageal implant market is set for substantial growth, with its valuation projected to reach USD 147 million in 2023. Over the next decade, the market is anticipated to expand at a CAGR of 6.7%, ultimately exceeding USD 280.2 million by 2033. This promising growth trajectory is attributed to increasing demand for advanced solutions in the treatment of esophageal disorders and the continuous innovation within the implant sector.

Key Growth Drivers

The expansion of the esophageal implant market is being driven by several crucial factors:

• Rising Prevalence of Esophageal Disorders: An increase in esophageal conditions such as strictures and cancers has created a rising need for effective therapeutic options, including esophageal implants.
• Advancements in Implant Technology: New technologies are enhancing the safety, effectiveness, and biocompatibility of esophageal implants, making them a more viable option for patients and healthcare providers.
• Increased Adoption of Minimally Invasive Procedures: Minimally invasive implants are becoming a preferred choice for patients seeking reduced recovery times and less post-operative discomfort.

As the demand for innovative esophageal treatment solutions grows, the market for esophageal implants is well-positioned for sustained growth. Future Market Insights’ analysis indicates a bright future for the industry, driven by advancements in technology and a global rise in esophageal health concerns.

The market growth is being propelled due to the rising need for surgical resection of the esophagus as a result of cancer, trauma, or birth defects.

As per the Centers for Disease Control and Prevention, around one child suffers from esophageal atresia in every 4,100 children born in the United States. This birth condition can occur on its own, although it is more commonly associated with other birth problems. Such escalating faults are important drivers fueling market expansion.

Esophageal implants have emerged as the most effective treatment for a variety of illnesses, including GERD and esophageal strictures. As a result of the increasing efficacy of these implants in therapies, the demand for esophageal implants is increasing.

Rising patient inclination towards minimally invasive procedures is another key factor that is expected to fuel esophageal implant demand globally. Subsequently, growing popularity of biodegradable stents and hybrid implants is likely to support market expansion.

Leading esophageal implant manufacturers are concentrating on developing new innovative solutions with several advantages. For instance, to treat esophageal atresia and other esophageal disorders, Biostage is developing its Cellspan esophageal implant.

Key Drivers Propelling the Demand for Esophageal Implants

• Despite surgical procedures, esophageal implants play a critical role in symptom reduction for chronic esophageal diseases like GERD, driving demand.
• Rapid increase in the cases of esophageal cancer is likely to create lucrative opportunities for esophageal implant manufacturers, with especially high demand for esophageal stents.
• Growing preference for minimally invasive treatment approaches for esophagus-related problems will fuel esophageal implant sales.
• Rising usage of self-expandable metallic stents in the treatment of benign & malignant disorders is expected to boost sales.

How Key Players Stay Competitive in the Esophageal Implant Industry?

The esophageal implant industry is highly competitive due to large presence of regional and local players. In such a scenario, companies must adopt effective strategies to stay ahead of the competition.

Key Strategies Adopted by the Players:

• Product Innovation

Companies are investing rigorously in research and development to introduce new products with enhanced features. Product innovation enables manufacturers to differentiate themselves from their competitors and meet the evolving needs of customers.

• Strategic Partnerships and Collaborations

Key players in the industry often form strategic alliances, collaborations, and partnerships with other companies to leverage their strengths and expand their reach in the market.

• Expansion into Emerging Markets

The esophageal implant industry is witnessing significant growth in emerging markets such as China and India. Key esophageal implant manufacturers are expanding their presence in these markets by establishing local manufacturing facilities and strengthening their distribution networks.

• Mergers and Acquisitions

Key esophageal implant companies are also adopting mergers and acquisitions to strengthen their market position, expand their portfolio, and gain access to new markets.

Key Players in the Esophageal Implant Industry:

• 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
• Baxter International (Synovis Surgical Innovations)

Key Developments in the Esophageal Implant Industry:

• Boston Scientific Corporation, Inc., will acquire Apollo Endosurgery, Inc., for a cash price of $10 per share, or around $615 million as per the statement released by Boston Scientific on Nov 2022.
• In February 2023, Olympus disclosed its plan to acquire Korea based Taewoong Medical (manufacturer of stents) at $370 million.
• In June 2022, a definitive agreement was signed between Boston Scientific Corporation and Synergy Innovation Co., Ltd., under which the company will buy a majority stake (roughly 64 percent) in M.I.Tech Co., Ltd., a Korean company involved in production and supply of medical devices for endoscopic and urologic procedures.

Grab Your Complete Report Instantly

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

Author By:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

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.

Contact Us:        

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-347-918-3531

For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedIn| Twitter| Blogs | YouTube