The Nasal Polyposis Treatment Market refers to the pharmaceutical and medical devices market dedicated to providing treatment options for nasal polyposis. Nasal polyposis is a chronic inflammatory condition characterized by the development of benign growths (polyps) in the nasal cavity and sinuses. These polyps can cause symptoms such as nasal congestion, loss of smell, facial pain, and postnasal drip.
The treatment of nasal polyposis typically involves a combination of medical and surgical interventions. Medical treatments aim to reduce inflammation, control symptoms, and shrink or prevent the regrowth of polyps. Surgical interventions may be required in cases where medical treatments fail to provide relief.
The market is expanding as a result of rising research efforts. The industry’s growth is expected to be constrained by the high cost of sinus surgery as well as complications such excessive bleeding, cerebrospinal fluid leak, vision problems, postoperative scarring, and inflammation. Additionally, it is anticipated that the development of this market will be hindered by side effects associated with steroid therapy such as weight gain, loss of bone mineral density, and the development of ocular cataracts. On the other hand, the market for treating nasal polyposis has seen new chances for growth due to the accessibility of important technologies like nasal endoscopy and computerised tomography.
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According to a recently released study by Future Market Insights, the global Nasal Polyposis Treatment Market is anticipated to reach US$ 4.6 billion in value by 2023-end and is likely to grow at a CAGR of 6.7% until 2033. A market valuation of US$ 8.8 billion is anticipated by the conclusion of the projected period. Growth in the market is anticipated to be fueled by an increasing elderly population with chronic rhinosinusitis with nasal polyposis (CRSwNP), otorhinolaryngology surgeons using minimally invasive procedures, and a wide range of nasal polyposis treatment choices.
Key Takeaways from the Market Study
- Global nasal polyposis treatment market to expand nearly 2x from 2023 to 2033
- Corticosteroids account for 55% of all nasal polyposis treatment types, expanding at a 9% CAGR
- More than 3 out of 5 nasal polyposis treatment procedures occur in hospitals
- North America to be an emerging hub for treating nasal polyposis, accumulating a 41.5% revenue share
- Asia Pacific to experience noteworthy investments, expected to clock a CAGR of 7% until 2033
“Rapid product approvals, innovation of effective drugs, and surging research and development activities will bolster the market growth of Nasal Polyposis treatment”, comments an FMI analyst.
Competitive Landscape:
The Nasal Polyps Treatment Market is competitive and consists of several major players. Major players are creating novel delivery systems for the treatment of nasal polyps. This is expected to propel nasal polyposis treatment market. The major players in the market are: Sanofi, Merck & Co, Inc., OptiNose US, Inc., Intersect ENT, Inc., Pfizer, Regeneron Pharmaceuticals, Inc., Novartis AG, GlaxoSmithKline plc, F. Hoffmann-La Roche Ltd, Teva Pharmaceutical Industries Inc. Some recent developments in the market are as follows:
- In July 2021, GlaxoSmithKline plc. (GSK) declared that Nucala (Mepolizumab) is approved by United states FDA for chronic bilateral nasal polyposis related with chronic rhinosinusitis
- GSK Investigational Site Boise, Idaho, United states is working on a study to determine effectiveness and safety of Depemokimab (GSK3511294) in patients suffering from chronic rhinosinusitis with nasal polyposis. It is presently doing phase 3 trial and will complete this study by January 2025.
- In 2020, the United States Food and Drug Administration approved authorised use of Dupixent for adults with nasal polyps accompanied by chronic rhinosinusitis. It is the first treatment approved for uncontrolled chronic rhinosinusitis with nasal polyps and also reduces dependence on nasal polyp surgery and oral steroids.
- In 2020, Roche Holding AG, a pharmaceutical company, had successfully completed and declared the positive result from two Phase III multicenter studies evaluating Xolair for the treatment of adults with chronic rhinosinusitis with nasal polyposis.
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More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global nasal polyposis treatment market, providing historical data for 2018-2022 and forecast statistics from 2023-2033.
To understand opportunities in the Nasal polyposis treatment market, the market is segmented on the basis of type of treatment (pharmacological therapies and surgeries) and end user (hospitals, ambulatory surgical centres, and specialty clinics) across five major regions (North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa).
Key Segments Profiled in the Nasal Polyposis Treatment Industry Survey
By Type of Treatment:
- Pharmacological Therapies
- Corticosteroids
- Antibiotics
- Leukotriene Inhibitors
- Others
- Surgeries
- Polypectomy
- Functional Endoscopic Sinus Surgery
By End User:
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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