Nasal Polyps Treatment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Nasal Polyps Treatment Market is anticipated to witness a CAGR of nearly 6.2% during the forecast period. The major factors driving the growth of the market are the rising 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.

Key Market Trends

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 due to the 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.

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. This is mainly due to the increasing incidence 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.

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.

Competitive Landscape

The Nasal Polyps Treatment Market is moderately competitive and consists of several major players. Few of the major players are developing novel delivery systems to treat nasal polyps. which is expected to impel the global nasal polyps treatment market growth. For instance, in 2018, Intersect ENT Inc. launched SINUVA, a sinus implant containing mometasone furoate that is used to treat nasal polyps. Futhermore, few key players are entering into partnerships to develop and increase their market position globally. Some of the companies which are currently dominating the market are Sanofi S.A, OptiNose US, Merck & Co Inc, Intersect ENT Inc, and GlaxoSmithKline PLC

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