in value terms by 2023-end and is projected to rise at a CAGR of 6.7% until 2033, according to a recently published report by Future Market Insights. By the end of the said forecast period, a valuation of US$ 8.8 billion is expected for the market. A growing geriatric population suffering from chronic rhinosinusitis, with nasal polyposis (CRSwNP), and utilization of minimally invasive surgeries by otorhinolaryngology surgeons, and a rich pipeline of nasal polyposis treatment options are expected to drive market growth.
Increasing research activities are also propelling growth of the market. However, high cost and difficulties associated with sinus surgeries such as excessive bleeding, cerebrospinal fluid leak, visual disturbances, postoperative scarring, and inflammation are anticipated to restrain growth of the industry. Additionally, adverse reactions related with steroid therapies like weight gain, loss of bone mineral density, and cataract formation in eyes are expected to challenge growth of The global nasal polyposis treatment market is expected to reach US$ 4.6 billion this market. On the other hand, availability of key technologies such as nasal endoscopy and computerized tomography has created space for fresh opportunities for growth within nasal polyposis treatment market.
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Key players are receiving approvals from regulatory bodies for next generation drugs, which is anticipated to push growth of nasal polyposis treatment market during the forthcoming period. For example, on July 29, 2021, GlaxoSmithKline plc, a pharmaceutical and biotechnology company, was granted approval from the United States Food and Drug Administration for its drug Nucala (mepolizumab) used in treating patients suffering from chronic rhinosinusitis with nasal polyposis. Similarly, Mepolizumab, is the first IL-5 remedy accepted as an additional treatment in the United states for adults with chronic rhinosinusitis with nasal polyposis to aim eosinophilic inflammation. Intersect ENT Inc., a subordinate company of Medtronic, introduced SINUVA, a non-surgical option used to treat nasal polyposis, eliminating all symptoms within a period of 90 days.
Key Takeaways from the Market Study
“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, Merck & Co, Inc., OptiNose US, Inc., Intersect ENT, Inc., Pfizer, Regeneron Pharmaceuticals, Inc., Novartis AG, GlaxoSmithKline plc, F. Hoffmann-La Roche Ltd, Teva Pharmaceutical Industries Inc. Some recent developments in the market are as follows:
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More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global nasal polyposis treatment market, providing historical data for 2018-2022 and forecast statistics from 2023-2033.
To understand opportunities in the Nasal polyposis treatment market, the market is segmented on the basis of type of treatment (pharmacological therapies and surgeries) and end user (hospitals, ambulatory surgical centres, and specialty clinics) across five major regions (North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa).
Key Segments Profiled in the Nasal Polyposis Treatment Industry Survey
By Type of Treatment:
By End User:
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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