The value of the Nasal Polyps Treatment market is projected to grow to $4,243.9 million with an estimated CAGR of 5.6% by 2030
Nasal polyps are non-cancerous growths that are soft, painless and fleshy swellings in the paranasal sinuses and lining in the nasal passages due to chronic inflammation of the mucosa. The demand for nasal polyps treatment is rising rapidly, in line with the increase in prevalence of inflammatory and respiratory disorders such as chronic rhinosinusitis, asthma, allergic respiratory diseases and others. Therapy for nasal polyps involves a combination of observation, medical, and surgical treatments depending on individual case analysis. However, high cost of treatment, post-surgical complications and recurrence of nasal polyps will hinder the growth of the market in the next few years.
The aim of the report is to estimate the market size for nasal polyps treatment and the future growth potential of the market for nasal polyps treatment across various segments, such as treatment type and end-users.
The market has been studied for historic years from 2018 and 2019, with the base year of estimation as 2019 and forecast from 2020 to 2028. Factors such as growing prevalence of chronic rhinosinusitis with nasal polyps, increase in research activities by industry players for development of novel treatment options, and increasing demand for minimally invasive surgeries are the key drivers of the nasal polyps treatment market.
By type of treatment, pharmacological therapies held substantial share of the global nasal polyps treatment market. Systemic & oral corticosteroids, intranasal steroids, nasal saline irrigations, sprays, and antibiotics are majorly used for the treatment patient suffering from chronic rhinosinusitis with nasal polyps (CRSwNP).
Rapid shift from invasive treatment to non-invasive or minimally invasive treatment options is anticipated to provide huge growth opportunities in the coming years. The nasal polyps treatment market is predominantly subjugated by therapeutic options such as antibiotics, corticosteroids, and others. However, there is growing adoption of minimally invasive surgical treatment such as functional endoscopic sinus surgery for nasal polyps and other health complications associated with it.
U.S. grabbed majority share of the nasal polyps treatment market in North America. The dominant share of the market is attributable to high incidence of chronic rhinosinusitis with nasal polyps in the country. For instance, it is estimated that approximately 200,000 new cases of nasal polyps are reported in the U.S. each year which is likely to augment the demand for effective treatment. Asia Pacific provides huge growth potential prospects over the forecast period due to presence of large target population suffering from inflammatory respiratory disorders in developing countries such as China and India.
It is known that the major players in the industry are making heavy investments in research projects, which is expected to ensure market growth during the forecast period. Industry players are focused on developing novel treatment options with strong product pipeline, which in the coming years will further increase the overall growth of the market.
Nasal Polyps Treatment Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2030||$4,243.9 million|
|Growth Rate||CAGR of 5.6 % during 2022-2030|
|Segment Covered||By Type, By Route of Administration, By Distribution Channel, Region.|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Regeneron Pharmaceuticals, Inc., Hoffmann-La Roche Ag, Fougera Pharmaceuticals Inc., Novartis International Ag, Sanofi S.A., GlaxoSmithKline Plc, Intersect Ent, Dohme Corp, Merck & Co., Inc., Norton Waterford Ltd, Astrazeneca Plc, Taro Pharmaceuticals Industries Ltd., Teva Pharmaceutical Industries Limited, and OptiNose Inc.|
Key Segments of the Global Nasal Polyps Treatment Market
Treatment Type Overview, 2018-2028 (USD Million)
- Pharmacological Therapies
- Leukotriene Inhibitors
- Functional Endoscopic Sinus Surgery (FESS)
End-user Overview, 2018-2028 (USD Million)
- Ambulatory Surgical Centers
- Specialty Clinics
Regional Overview, 2018-2028 (USD Million)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
Important Companies in Global Nasal Polyps Treatment Market
- Intersect ENT, Inc.
- GlaxoSmithKline plc
- OptiNose US, Inc.
- Merck & Co, Inc.
- Novartis AG
- F. Hoffmann-La Roche Ltd.
- Regeneron Pharmaceuticals, Inc.
Reasons for the study
- Increase in prevalence of chronic rhinosinusitis with nasal polyps
- Surge in demand for minimally invasive surgeries
What does the report include?
- The study on the global nasal polyps treatment market includes qualitative insights such as drivers, restraints, challenges and opportunities
- Additionally, the market has been evaluated using the Porter’s Five Forces analysis
- The study covers qualitative and quantitative analysis of the market segmented on the basis of treatment type, and end-user. Moreover, the study on nasal polyps treatment market provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments
- The study includes the profiles of key players operating in the market with a significant global and/or regional presence
Who should buy this report?
- The report on the global nasal polyps treatment market is suitable for all the players across the value chain including raw material suppliers, hospitals, ambulatory surgical centers, medical device manufacturers, healthcare organizations, distributors, suppliers and technology geeks
- Venture capitalists and investors looking for more information on the future outlook of the global nasal polyps treatment market
- Consultants, analysts, researchers, and academicians looking for insights shaping the global nasal polyps treatment market