In 2020, the global nasal polyps treatment market value was more than USD 1,482.7 million. The global nasal polyps treatment market is forecast to grow at a compound annual growth rate (CAGR) of more than 4.5% during the forecast period from 2021-2027.
The lining of nasal passages and sinuses can develop soft, painless polyps that are not cancerous. This condition results from chronic inflammation and may result from asthma, allergies, recurring infections, or sensitivity to certain drugs. A nasal polyp can be reduced or eliminated with nasal polyp treatments such as medications, and sometimes they need to be surgically removed.
The number of patients who suffer from chronic rhinosinusitis with nasal polyps is on the rise. They are especially prone to depression and anxiety. Thus, chronic rhinosinusitis treatments and medications that can shrink nasal polyp size while facilitating the treatment of rhinosinusitis will become more prevalent in the coming years and will likely cause a revolution for the treatment of nasal polyps.
Factors Affecting the Market
A rise in the geriatric population suffering from chronic rhinosinusitis with nasal polyps (CRSwNP), a growing pipeline of nasal polyps treatments, and growing research activities are contributing factors driving the growth of the nasal polyps treatment market.
High sinus surgery costs and adverse side effects of sinus surgery, such as bleeding, leakage of cerebrospinal fluid, visual disturbances, scarring, and inflammation, are hampering growth. In addition, adverse reactions to steroids such as weight gain, bone mineral loss, and cataract formation in the eyes restrain the market's growth.
Nasal endoscopy and computerized tomography are key technologies that have created new opportunities within the global market for nasal polyps treatment.
COVID-19 Impact
Globally, the outbreak of COVID-19 has caused havoc on hospital workflows. Numerous industries, including a few in the health care sector, were forced to close temporarily. COVID-19, however, may be beneficial for the nasal polyp treatment market. Nasal polyp symptoms such as a loss of smell, foul taste, congestion, and difficulty breathing will increase the demand for antibiotics. COVID-19 may affect the upper or lower respiratory tracts. Cavernous structures throughout the nasal cavity may experience inflammation in sinus infections. In addition, sinus infections and COVID-19 share many similar symptoms. Due to an increase in demand for diagnostic tests and antibiotics due to the ongoing pandemic, the nasal polyps treatment market predicts to grow. Thus, COVID-19's outbreak has positively affected the nasal polyps treatment market.
Regional Overview
Asia-Pacific presents lucrative opportunities for key players in the nasal polyps treatment market, which predicts to experience the fastest growth rate over the forecast period. Growth in healthcare infrastructure, rise in prevalence of nasal polyps and its associated disorders such as asthma, sinusitis, rise in disposable incomes, well-established presence of domestic companies, and the aging population are contributing factors.
Key Players
The leading prominent companies profiled in the global nasal polyps treatment market is:
Aim of the Report
The global nasal polyps treatment market segmentation consists of Type of Treatment, Route of Administration, Distribution Channel, and Region.
Segmentation based on Type of Treatment
Segmentation based on Route of Administration
Segmentation based on Distribution Channel
Segmentation based on Region
