Nasal Polyps Treatment Market is anticipated to grow at a steady CAGR from 2019 to 2030
Market Industry Reports (MIR) has published a new report titled “Nasal Polyps Treatment Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global nasal polyps treatment market was estimated to be over US$ 3.6 Billion in 2018 and is anticipated to grow at a steady CAGR from 2019 to 2030.
The growth of the nasal polyps treatment market can be attributed to a rise in chronic rhinosinusitis among the geriatric population. Nearly 25–30% of chronic rhinosinusitis (crs) cases reported are associated with nasal polyps, which will eventually lead to market growth. In addition, an increase in approvals for nasal polyps treatment by several regulatory bodies is driving the market growth. For instance, in 2019, Dupixent manufactured by Sanofi in partnership with Regeneron Pharmaceuticals Inc., used for the treatment of chronic rhinosinusitis with nasal polyposis (CRSwNP) in adults, received U.S. Food and Drug Administration (FDA) approval. However, the lack of efficacy of pharmacological therapies and high costs associated with nasal polyps treatments restrain market growth.
The increasing prevalence of nasal polyps associated with several conditions, such as chronic rhinosinusitis (CRS) and asthma, is contributing to growth of the nasal polyps treatment market. For instance, it is estimated that 25 to 30 percent of the 20 to 32 million U.S. patients suffering from chronic rhinosinusitis (crs) have symptomatic nasal polyps. Similarly, non-invasive procedures are the ones that do not require creating an incision into the body or removal of the tissue. Such non-invasive procedures performed during the removal of nasal polyps by surgery are contributing to market growth owing to patient preferences. For instance, Functional Endoscopic Sinus Surgery (FESS) is a minimally invasive surgical treatment for nasal polyps which is more preferred over polypectomy surgery. Along with the minimal invasive nature of Functional Endoscopic Sinus Surgery (FESS), it also aids in better visualization of critical areas of the nasal passage which significantly improve the precision of surgical processes to remove nasal polyps.
Extensive research for developing novel and more efficient treatment for nasal polyps can also be attributed to growth of the nasal polyps treatment market. For instance, SINUVA a sinus implant that delivers a steroid directly to the sinus, developed by Advanced ENT and Allergy, received FDA approval in 2017 for treating nasal polyps. Similarly, there are many such products, which can be used for the treatment of nasal polyps.
Browse key industry insights spread across 180 pages with market data tables & figures & charts from the report, Nasal Polyps Treatment Market by Type of Treatment (Pharmacological Therapies and Surgeries), End-User (Hospitals, Ambulatory Surgical Centers and Specialty Clinics) -Analysis & Forecast 2019-2030 in detail along with the table of contents:https://www.marketindustryreports.com/nasal-polyps-treatment-market/169
The risks involved in the treatment of nasal polyps hamper market growth. For instance, the treatment of nasal polyps by the application of steroid therapy is commonly associated with side effects such as weight gain, diabetes, and hypertension. Additionally, complications associated with sinus surgeries such as excessive bleeding, visual disturbances, and inflammation are other factors restraining market growth.
North America dominated the global nasal polyps treatment market. There are several factors contributing to its largest share such as increasing incidences of chronic rhinosinusitis with nasal polyposis CRSwNP and a rise in the number of sinus surgeries. Asia Pacific is estimated to grow at the highest CAGR during the forecast period. A large patient pool suffering from respiratory disorders in regions, such as India and China, is propelling market growth.
The prominent players in the global nasal polyps treatment market include OptiNose US, Inc., Regeneron Pharmaceuticals, Inc., Merck & Co., Inc., Pfizer, Inc., F. Hoffmann-La Roche AG, GlaxoSmithKline plc, Sanofi, Novartis AG, Intersect ENT, Inc., and AstraZeneca, among others.
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