According to a recently released study by Future Market Insights, the global nasal polyposis treatment industry is anticipated to reach US$ 4.6 billion in value by 2023-end and is likely to grow at a CAGR of 6.7% until 2033. A market valuation of US$ 8.8 billion is anticipated by the conclusion of the projected period. Growth in the market is anticipated to be fueled by an increasing elderly population with chronic rhinosinusitis with nasal polyposis (CRSwNP), otorhinolaryngology surgeons using minimally invasive procedures, and a wide range of nasal polyposis treatment choices.
The Nasal Polyposis Treatment Market refers to the pharmaceutical and medical devices market dedicated to providing treatment options for nasal polyposis. Nasal polyposis is a chronic inflammatory condition characterized by the development of benign growths (polyps) in the nasal cavity and sinuses. These polyps can cause symptoms such as nasal congestion, loss of smell, facial pain, and postnasal drip.
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The treatment of nasal polyposis typically involves a combination of medical and surgical interventions. Medical treatments aim to reduce inflammation, control symptoms, and shrink or prevent the regrowth of polyps. Surgical interventions may be required in cases where medical treatments fail to provide relief.
The market is expanding as a result of rising research efforts. The industry’s growth is expected to be constrained by the high cost of sinus surgery as well as complications such excessive bleeding, cerebrospinal fluid leak, vision problems, postoperative scarring, and inflammation. Additionally, it is anticipated that the development of this market will be hindered by side effects associated with steroid therapy such as weight gain, loss of bone mineral density, and the development of ocular cataracts. On the other hand, the market for treating nasal polyposis has seen new chances for growth due to the accessibility of important technologies like nasal endoscopy and computerised tomography.
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.
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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
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.
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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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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