Nasal polyps are soft, painless, fleshy benign growths inside the paranasal sinuses and in the lining of the nose due to chronic inflammation of the mucosa. Generally, nasal polyps may occur due to asthma, allergic infections, sinus infections, cystic fibrosis, etc. The major symptoms associated with nasal polyps are nasal congestion, sinofacial pain, and loss of sense of smell.
The report presents an in-depth assessment of the Global Nasal Polyps Treatment including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Global Nasal Polyps Treatment investments from 2020 till 2025.
The Nasal Polyps Treatment Market studied was anticipated to grow with a CAGR of nearly 6.2% during the forecast period. The major factors driving the growth of the market are the global prevalence of various cancers, immunological disorders, and the increasing geriatric population. For instance, the Centers for Disease Control and Prevention reports that in 2018, about 28.9 million adults in the United States were diagnosed with sinusitis which directly resulted in higher demand for the treatment fueling the growth of the market. Furthermore, an increase in the R&D investment in pharmaceuticals with a strong pipeline of products is expected to boost the growth of the global market throughout the forecasted period..
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Top Leading Manufactures-
Sanofi S.A, OptiNose US, Merck & Co Inc, Intersect ENT Inc, GlaxoSmithKline PLC, Teva Pharmaceutical Industries, Regeneron Pharmaceuticals Inc, F. Hoffmann-La Roche AG, Novartis International AG, Norton Waterford Ltd, Pfizer Inc.
Key Market Trends
The Corticosteroids Segment by Drug Class is Expected to Hold the Largest Market Share in the Nasal Polyps Treatment Market
– The corticosteroid segment is expected to account for the largest market share in recent years and expected to do so over the forecast period. This dominance is due to an increase in the demand for corticosteroids treatment and its availability in various dosage forms like injections, intranasal sprays, and drops according to the need of the patient.
– Also, the availability of various corticosteroids as topical formulations and aerosols which have the ability to decrease the size of nasal polyps, and thus heal the nasal polyps in patients has contributed to the significant share of revenue in the market. Furthermore, patient compliance for creams is more compared to other dosage forms available in the market.
– The Hospital Pharmacies of distribution channel segment is expected to account for a significant share of the nasal polyps treatment market during the forecast period. Growth of the segment is expected to the availability of wide ranges of services by the advanced health care infrastructures at a single site along with the rise in the demand for surgical procedures for the removal of nasal polyps, resultant in increased hospitalization.
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North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall nasal polyps treatment market throughout the forecast period. In the North America region, the united states are leading the market. This is mainly due to the Increased incidences of various cancers and allergic disorders such as asthma, sinusitis, and more, research activities in the United States coupled with increased approvals from regulatory bodies are likely to drive the growth of the nasal polyps treatment market. For instance, in June 2019, the U.S. Food & Drug Administration (FDA) approved Sanofis Dupixent, the first treatment for chronic rhinosinusitis with nasal polyps (CRSwNP) which contributed for the largest share of revenue in the region.
Next to North America, Europe accounts for the Second-highest market revenue. This is due to factors such as the ongoing research and development activities, widespread adoption of advanced health care infrastructure that is fueling the huge product pipeline in the region.
The Asia Pacific is set to grow at the fastest rate during the forecast period, driven by the prevalence of allergic disorders and the steady growth of the pharmaceutical industry in recent years. China plays a pivotal role due in the Asia region to its high population and high extent of government initiatives to the healthcare sector. Ongoing trials in the region will further stimulate market growth in the region.
What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a Global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Global Nasal Polyps Treatment Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
The research includes historic data from 2014 to 2020 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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