According to a recent study conducted by Future Market Insights, the global nasal polyposis treatment market is poised to achieve a value of US$ 4.6 billion by the end of 2023, with a projected Compound Annual Growth Rate (CAGR) of 6.7% until 2033. The market is anticipated to witness substantial growth, culminating in a valuation of US$ 8.8 billion by the conclusion of the forecasted period.
Nasal polyposis, characterized by the development of benign growths within the nasal cavity and sinuses, is a chronic inflammatory condition. Its symptoms include nasal congestion, loss of smell, facial pain, and postnasal drip. As per the study, factors driving the growth of the Nasal Polyposis Treatment Market include the increasing elderly population afflicted with chronic rhinosinusitis with nasal polyposis (CRSwNP), the adoption of minimally invasive procedures by otorhinolaryngology surgeons, and a diverse array of treatment options for nasal polyposis.
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The Nasal Polyposis Treatment Market encompasses pharmaceutical and medical device sectors dedicated to offering treatment solutions for nasal polyposis. With the prevalence of this condition on the rise and its debilitating impact on individuals’ quality of life, the market plays a crucial role in addressing the therapeutic needs of affected patients worldwide.
This projected growth underscores the significance of ongoing research and development efforts in advancing treatment modalities for nasal polyposis. It also reflects the commitment of healthcare stakeholders to meet the evolving healthcare demands of populations affected by this condition.
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 S.A
- Merck & Co. Inc.
- OptiNose USA Inc.
- Intersect ENT Inc.
- Pfizer Inc.
- Regeneron Pharmaceuticals Inc.
- GSK plc.
- F. Hoffmann- La Roche Ltd.
- Teva Pharmaceutical Industries Inc.
- Novartis AG
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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.
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
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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.
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