Expected to be valued at USD 4.6 billion by the end of 2023, the market for nasal polyposis treatment is likely to expand at a CAGR of 6.7% until 2033. By the conclusion of the 2023-2033 forecast period, a valuation of USD 8.8 billion is anticipate for nasal polyposis treatment.
Growing prevalence of chronic rhinosinusitis with nasal polyps especially in elderly population is one of the major factors propelling industry growth. Surging inflammatory diseases around the world is also expected to contribute to growth of nasal polyposis market.
Advancements in technology for removal of nasal polyps and increase in research and development is expected to lead to novel therapeutic treatment for nasal polyps which will lead to market expansion.
| Report Attribute | Details |
|---|---|
| Expected Market Value (2023) | USD 4.6 billion |
| Anticipated Forecast Value (2033) | USD 8.8 billion |
| Projected Growth Rate (2023 to 2033) | CAGR 6.7% |
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The market for Nasal Polyposis treatment was worth USD 3.7 billion in 2018, while growing at a CAGR of 4.45% during the historical period. With each passing decade, extensive research & development activities are being conducted by healthcare professionals. These have translated into extensive clinical trials for potential drug candidates, or the introduction of novel therapies and diagnostics, which is expected to provide impetus to the market. For example, Hoffmann-La Roche completed its Phase III study on March 11, 2019, which was conducted to test effectiveness and safety of omalizumab in comparison with placebo in patients having chronic rhinosinusitis with nasal polyps who have witnessed insufficient response to standard treatments.
On the other hand, advancements in technology, such as nasal endoscopy and computerized tomography, better-quality healthcare facilities with innovative drug development for treatment of nasal polyps, and initiatives by governments in spreading awareness about nasal polyps, is expected to witness lucrative growth in market of Nasal polyposis during the projected period.
The growth in the number of rhinitis therapeutics distributed through the retail pharmacies and increasing number of these pharmacies in developed countries is anticipated to create opportunities and space for market expansion. In addition, patients generally opt for retail pharmacies for purchasing drugs, as these are easily accessible. Thus, presenting opportunities for future growth of nasal polyposis market.
After a comprehensive analysis of above-mentioned factors, the market for nasal polyposis is projected to attain a valuation of USD 8.8 billion by end of the forecast period, while exhibiting a CAGR of 6.7%.
The adoption of pipeline therapies in Nasal polyposis market like Fasenra (benralizumab), Tezepelumab, CBP-201, and others are expected to fuel growth of the market in the forecast period. With the launch of Fasenra (benralizumab) in 2022 and expected launch of Tezepelumab this year, the market is anticipated to witness growth during the forecast period. Both Fasenra and Tezepelumab is estimated to garner nearly USD 5 million in the first year of its launch which will aid in the expansion of targeted industry.
The recommendation from regulatory bodies for approval of authorised new drugs used in nasal polyposis treatment, is also anticipated to propel growth of this market, during the forecast period. For example, in June, 2020, Novartis got a positive recommendation on Xolair, its approved product. It is used for the treatment of adults who are suffering from serious chronic rhinosinusitis with nasal polyps. Likewise, Xolair is used for treating nasal polyps targeting and blocking immunoglobulin E (IgE), that aids in decreasing the size of nasal polyps. This will support market expansion.
With ab expected increase in the launch of biologics in the upcoming years, the ratio of patients opting for surgery might decline because of the excellent effectiveness of biologics and also fewer possibility of recurrence of the disease, augmenting the industry’s growth. Furthermore, the surge in market size of Nasal Polyposis is a direct result of the anticipated approval of emerging therapies and the rising Nasal Polyposis patient population.
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Dearth of Skilled Professionals and High Cost of Treatment will restrain market growth
Dearth of skilled and qualified healthcare professionals who are not able to treat these patients with appropriate treatments could hold back growth of the global nasal polyposis drugs market during the projected period. The massive expenditure associated with nasal polyposis treatment is also expected to hinder market expansion.
On the other hand, factors such as bleeding, visual disturbances, inflammation, and cerebrospinal fluid leak linked with surgical removal of nasal polyposis and several adverse reactions because of steroid therapy, may restrain market growth.
Rising Incidence of Chronic Rhinosinusitis to encourage Patients to Opt for Treatment
North America is anticipated to dominate the nasal polyposis treatment market, capturing a 41.5% market share. This region is projected to reflect a CAGR of 6.1% from 2023 to 2033. The growth is attributable to increasing incidence of several cancers and allergic disorders like asthma, sinusitis, and others. Moreover, research activities in the United States coupled with surging approvals from regulatory bodies are anticipated to fuel growth of this market during the projected period.
The presence of a huge target population, affected by chronic rhinosinusitis with nasal polyposis and rising sinus surgeries conducted in the United States are the major factors attributed to hold dominance in this region. Additionally, the approvals by the Federal Agency for the reimbursement of money used for treatment of nasal polyps will aid in regional market expansion.
For example, in June 2020, Intersect ENT, a medical device company, was approved by Centers for Medicare and Medicaid Services to SINUVA Sinus Implant for reimbursement, with a New C–Code. Likewise, New C Code for SINUVA will simplify the reimbursement process for ENT physicians and their practices which will boost regional market expansion. It will provide Medicare patients easier access to this novel drug eluting sinus implant. This will support in regional expansion of the market.
Healthcare Providers finding Ground amid Increased Cases of Respiratory Disorders
According to Future Market Insights, Asia Pacific is expected to register a CAGR of 7% during the forecast period ranging from 2023 to 2033, with respect to treatment for nasal polyposis. The growth is expected to be driven by prevalence of allergic disorders and stable growth of the pharmaceutical industry in recent years. Moreover, China plays a crucial role in the Asia pacific region owing to its high population and high degree of government initiatives in the healthcare sector. Also, Ongoing trials in this region are expected to further stimulate market growth.
The presence of a large patient pool suffering from inflammatory and respiratory disorders in developing countries such as China and India, and growth in sinus surgeries conducted in developed countries in the region, are expected to fuel the nasal polyposis treatment market.
Similarly, increasing number of patients affected by nasal polyposis, government initiatives to promote awareness, and increasing demand for treatment are some of the other factors responsible for market expansion in this region. Presence of huge population is also one of the factors anticipated to positively influence nasal polyposis industry growth.
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Demand for Corticosteroids to Surge Prolifically in the Coming Decade
By type of treatment, corticosteroids are projected to account for 55% of all approaches. It is projected to witness CAGR of 9% during the forecast period. The growth is attributed to rising demand for corticosteroids treatment and its availability in numerous dosage forms such as injections, intranasal sprays, and drops according to suitability of the patient.
Furthermore, the availability of various corticosteroids as topical formulations and aerosols which have the ability to reduce the size of nasal polyposis, and therefore heal the nasal polyps in suffered patients is expected to contributed in significant share of market revenue. Likewise, Nasonex (mometasone) and Xhance (fluticasone propionate) are two major corticosteroid brands available in the market that will boost market growth. Also, patient compliance for creams is more compared to other dosage forms. This will aid in growth of the segment during the forecast period.
Hospitals to be the Primary Point of Contact for seeking Nasal Polyposis Treatment
Hospitals are anticipated to lead the market when it comes to seeking treatment for nasal polyps, with an expected market share of 64.2%. The growth of this segment is attributed to surging demand for sinus surgeries for the removal of nasal polyposis, leading to increased hospitalization and extensive range of services provided by hospitals at a single site.
Start-ups help in understanding the outlook of any market. Start-ups also have the potential to generate higher returns which directly benefits in expansion of any market. This is because these are typically more efficient at converting inputs into outputs. These are more flexible and adaptable, able to shift quickly in response to changing market conditions. Some of the start-ups that will aid in expansion of Nasal Polyposis treatment market are:
The nasal polyposis 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:
Key market players are concentrating on adoption of inorganic growth strategies such as acquisition, partnerships, and collaboration in order to improve its product portfolio. This is anticipated to drive the global Nasal Polyposis treatment market.
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 4.6 billion |
| Market Value in 2033 | USD 8.8 billion |
| Growth Rate | CAGR of 6.7 % from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Type of Treatment, End User, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, India, China, Japan, South Korea, Indonesia, Singapore, Thailand, Australia, New Zealand, GCC Countries, South Africa, Israel |
| Key Companies Profiled | 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 |
| Customization | Available Upon Request |
The projected CAGR of the nasal polyposis treatment market by 2033 is 6.7%.
The projected market value for 2033 is USD 8.8 billion.
The market is estimated to secure a valuation of USD 4.6 billion in 2023.
The key consumer of the nasal polyposis treatment market is the healthcare industry.
The North America market is growing remarkably fast due to the increasing prevalence of nasal polyposis.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Type of Treatment 5.1. Pharmacological Therapies 5.1.1. Corticosteroids 5.1.2. Antibiotics 5.1.3. Leukotriene Inhibitors 5.1.4. Others 5.2. Surgeries 5.2.1. Polypectomy 5.2.2. Functional Endoscopic Sinus Surgery 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User 6.1. Hospitals 6.2. Ambulatory Surgical Centres 6.3. Specialty Clinics 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. Asia Pacific 7.5. Middle East and Africa 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Key Countries Market Analysis 14. Market Structure Analysis 15. Competition Analysis 15.1. Sanofi S.A 15.2. Merck & Co, Inc. 15.3. OptiNose US, Inc. 15.4. Intersect ENT, Inc. 15.5. Pfizer Inc 15.6. Regeneron Pharmaceuticals, Inc. 15.7. Novartis AG 15.8. GlaxoSmithKline plc 15.9. F. Hoffmann-La Roche Ltd 15.10. Teva Pharmaceutical Industries Inc 16. Assumptions & Acronyms Used 17. Research Methodology
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Nasal Polyposis Treatment Market
