Chronic Rhinosinusitis Market Size to Reach USD 3508 Million in 2027 | Industry Trend – Increasing Geriatric Population Across the Globe
High prevalence of chronic asthma, inflammation of mucosal lining of nasal passage, and increasing demand for minimally invasive techniques are some key factors expected to drive global market revenue growth
Emergen Research has published its latest report titled, “Chronic Rhinosinusitis Market Analysis, By Product (Steroids, Nasal Irrigation, Surgical Based, Antibiotics, Macrolide Therapy, Antifungal Therapy), By Disease (Anatomical Differences, Nasal Tumors, Mucosal Edema, Non-allergic Rhinitis, Immune Deficiency, Other) By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Drug Stores, Others) and Region Forecasts To 2027”
According to Emergen Research, the global chronic rhinosinusitis market size was USD 2132.5 million in 2019 and is expected to reach USD 3508 million in 2027 and register a revenue CAGR of 7.4% during the forecast period, 2020-2027.
Chronic rhinosinusitis (CRS) is an inflammation caused to the mucosal lining of nasal cavity and paranasal sinuses and is primarily characterized by loss of smell sensation, facial pain, nasal blockage, and drainage for at least 12 consecutive weeks. Patients with asthma, recurrent sinus infections, allergies, or comorbidities including immunodeficiency and cystic fibrosis are prone to concurrent chronic rhinosinusitis. There have been rapid advancements in the CRS treatment to improve sinus outflow, reduce inflammation and local infection along with mucociliary clearance.
Factors such as high prevalence of CRS across the globe, increasing demand for minimally invasive surgical processes, and increasing awareness about the target disease and treatment are expected to boost market revenue growth during the forecast period. Availability of advanced therapies along with antibiotics and nasal pumps, increasing focus on developing more effective drugs and treatment, and increasing healthcare expenditure are some other factors expected to fuel market growth going ahead. However, high cost of treatment, low preference for sinus surgical undertakings, and high post-surgery risks are some key factors expected to hamper market growth to a certain extent during the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
Antibiotics Segment to Account for Largest Revenue Share:
The antibiotics segment is expected to account for largest revenue share between 2020 and 2027. This can be attributed to increasing prevalence of chronic rhinosinusitis and asthma, availability of various effective antibiotics to reduce pain, secretions, mucosal edema, and postnasal drip, and increasing focus on developing more effective drugs.
Retail Pharmacies Segment to Register Rapid Revenue Growth:
The retail pharmacies segment is expected to register rapid revenue growth during the forecast period owing to high preference for faster services and brand availability and availability of chronic rhinosinusitis treatment products in large quantities and at discounted rates.
North America to Lead In Terms of Revenue Share:
North America is expected to dominate other regional markets in terms of revenue share over the forecast period owing to factors such as high prevalence of chronic rhinosinusitis and chronic asthma, availability of advanced treatment options for chronic rhinosinusitis, and increasing investments for developing novel drugs and treatment. In addition, presence of major companies, high healthcare spending, and favorable reimbursement scenarios are expected to boost market growth in North America.
Major Companies in the Market Include:
- Bayer AG
- Ivax Pharmaceuticals
- Novartis Pharmaceuticals Corporation
- Sunovion Pharmaceuticals
- Smith & Nephew
- SinuSys Corporation
- Olympus Corporation
- Acclarent, Inc.
For the purpose of this report, Emergen Research have segmented chronic rhinosinusitis market on the basis of product, disease type, distribution channel and region:
Product Outlook (Revenue, USD Million; 2017–2027)
- Topical Nasal Steroid
- Systemic Steroids
- Nasal Irrigation
- Hypertonic and Isotonic Saline
- Steroid Nasal Irrigation
- Topical Antibiotic Therapy
- Surgical Based
- Endoscopic Intranasal Intervention
- Macrolide Therapy
- Antifungal Therapy
Disease Outlook (Revenue, USD Million; 2017–2027)
- Anatomical Differences
- Nasal Tumors
- Mucosal Edema
- Non-Allergic Rhinitis
- Immune Deficiency
Distribution Channel (Revenue, USD Million; 2017–2027)
- Hospital Pharmacies
- Retail Pharmacies
- Drug Stores
Regional Outlook (Revenue, USD Million; 2017–2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of MEA
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