Nasal Polyps Treatment Market: Rise in the Prevalence of Inflammatory and Respiratory Diseases to Drive Market
Wilmington, Delaware, United States, Transparency Market Research Inc. – The global nasal polyps treatment market was valued at ~US$ 3.9 Bn in 2018, and is projected to reach ~US$ 6 Bn by 2027, expanding at a CAGR of ~5% from 2019 to 2027.
The global nasal polyps treatment market is driven primarily by the rise in the prevalence of chronic rhinosinusitis with nasal polyps across the globe.
Nasal polyps are soft, painless, fleshy swellings or non-cancerous growths in the paranasal sinuses and lining in the nasal passages due to chronic inflammation of the mucosa.
Nasal congestion or obstruction, sinofacial pain and pressure, loss of sense of smell, and rhinorrhea are the major symptoms associated with nasal polyps.
Pharmacological therapies such as corticosteroids, antibiotics, leukotriene inhibitors, and antihistamines, and surgical procedures such as functional endoscopic sinus surgery and polypectomy are the major options for nasal polyps treatment.
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Global Nasal Polyps Treatment Market: Drivers & Restraints
The global nasal polyps treatment market is growing at a rapid pace, owing to an increase in the population diagnosed with nasal polyps, rise in the prevalence of co-morbidities such as asthma, surge in the demand for minimally-invasive surgeries, and rich pipeline of nasal polyps treatment options.
Chronic rhinosinusitis with nasal polyps (CRSwNP) is a highly common condition affecting the population aged 30 years and above. The disease is more common in men than women. It is estimated that nasal polyps is prevalent in 1% to 4% of the general population across the globe.
However, high cost and complications associated with sinus surgical procedures, including cerebrospinal fluid leak, excessive bleeding, visual disturbances, postoperative scarring, inflammation, and recurrence of nasal polyps are anticipated to hamper the global nasal polyps treatment market during the forecast period.
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Global Nasal Polyps Treatment Market: Market Segmentation
The global nasal polyps treatment market has been segmented based on type of treatment, end user, and region. In terms of type of treatment, the global nasal polyps treatment market has been categorized into pharmacological therapies and surgeries.
The pharmacological therapies segment dominated the global nasal polyps treatment market in 2018, and is projected to grow at a rapid pace during the forecast period.
Pharmacological therapies have been classified into corticosteroids, antibiotics, leukotriene inhibitors, and others. The corticosteroids sub-segment is expected to expand at a significant CAGR during the forecast period, owing to an increase in the demand for topical corticosteroids in the form of intranasal sprays and drops.
Topical corticosteroids induce a non-specific anti-inflammatory response that helps reduce or shrink the size of nasal polyps, and thereby help relieve the symptoms of nasal polyps in patients. Nasonex (mometasone) and Xhance (fluticasone propionate) are the major corticosteroid brands available in the market.
Based on end user, the global nasal polyps treatment market has been segmented into ambulatory surgical centers, hospitals, and specialty clinics.
The hospitals segment is anticipated to account for a significant share of the global nasal polyps treatment market during the forecast period. Growth of the segment can be attributed to the rise in the demand for sinus surgeries for the removal of nasal polyps, leading to increased hospitalization and wide range of services offered by hospitals at a single site.
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Global Nasal Polyps Treatment Market: Regional Segmentation
Geographically, the global nasal polyps treatment market has been categorized into North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa
North America accounted for a prominent share of the global nasal polyps treatment market in 2018. It is anticipated to continue to dominate the global nasal polyps treatment market during the forecast period. The presence of a large target population that is affected by chronic rhinosinusitis with nasal polyps and increasing sinus surgeries performed in the U.S. are the major factors attributed to the region’s dominance.
According to the Centers for Disease Control and Prevention (CDC), nearly 30 million adults are affected with chronic sinusitis in the U.S. Of these, 25% to 30% patients, i.e., 10 million adults, have nasal polyposis.
The nasal polyps treatment market in Europe is anticipated to expand at a considerable CAGR from 2019 to 2027, owing to the presence of a large geriatric population, high prevalence of osteoarthritis, increase in the number of nasal polyps treatment surgeries, and well-established market players in the region.
The nasal polyps treatment market in the U.K. is likely to grow at a rapid pace during the forecast period, owing to the high prevalence of chronic rhinosinusitis (CRS), which is a highly prevalent condition affecting 10% of the adult population of the country.
According to the National Institute for Health Sciences (NHS), there were 18,409 admissions for chronic sinusitis and nasal polyps in England in 2015.
The nasal polyps treatment market in Asia Pacific is likely to expand at a significant CAGR from 2019 to 2027. The presence of a large patient pool with inflammatory and respiratory disorders in developing countries such as India and China, and increase in sinus surgeries performed in developed countries in the region, are anticipated to propel the nasal polyps treatment market.
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Global Nasal Polyps Treatment Market: Major Players
Key players operating in the global nasal polyps treatment market include
- Merck & Co, Inc.
- OptiNose US, Inc.
- Intersect ENT, Inc.
- Regeneron Pharmaceuticals, Inc.
- Novartis AG
- GlaxoSmithKline plc
- F. Hoffmann-La Roche Ltd
These companies have diverse portfolios of nasal polyps treatments along with a strong presence across the globe.
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