Nasal Polyps Treatment Global Market Report 2024

Nasal polyps are soft, painless, noncancerous growths on the lining of nasal passages or sinuses. They often dangle like grapes or teardrops and are associated with conditions such as asthma, persistent infections, allergies, medication sensitivity, and other immunological disorders.

The nasal polyps treatment market involves the sales of treatments used for nasal polyps. These treatments aim to shrink or repair nasal polyps. Nasal polyps can have connections to various health issues, including asthma, persistent infections, allergies, medication sensitivity, and other immunological disorders. The market includes entities such as organizations, sole traders, and partnerships that provide products or services related to the treatment of nasal polyps.

The nasal polyps treatment market research report is one of a series of new reports that provides nasal polyps treatment market statistics, including nasal polyps treatment industry global market size, regional shares, competitors with a nasal polyps treatment market share, detailed nasal polyps treatment market segments, market trends and opportunities, and any further data you may need to thrive in the nasal polyps treatment industry. This nasal polyps treatment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The nasal polyps treatment market size has grown strongly in recent years. It will grow from $4.83 billion in 2023 to $5.24 billion in 2024 at a compound annual growth rate (CAGR) of 8.4%. The growth observed in the historic period in the nasal polyps treatment market can be attributed to various factors, including an increase in surgical procedures, the use of steroid medications, the prevalence of allergic rhinitis, the occurrence of chronic sinusitis, and environmental factors.

The nasal polyps treatment market size is expected to see strong growth in the next few years. It will grow to $7.38 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The anticipated growth in the forecast period in the nasal polyps treatment market can be attributed to factors such as ongoing drug development efforts, the emergence of personalized medicine approaches, the increased utilization of telehealth services, a shift towards patient-centric care, and regulatory approvals for new treatments. Key trends expected during this period include advancements in diagnostic technologies, developments in medical treatments, the use of biologic therapies and immunotherapies, and collaborative research efforts.

The anticipated increase in healthcare expenditure is set to propel the nasal polyps treatment market. Healthcare expenditure encompasses the total financial resources allocated by individuals, governments, and organizations within a specific healthcare system to cover costs related to medical services, treatments, medications, and healthcare infrastructure. With expanding healthcare budgets, there is likely to be a more significant investment in the diagnosis, management, and treatment of nasal polyps. This financial commitment is expected to enhance patient access to advanced therapies, innovative treatment options, and increased research and development efforts, ultimately contributing to the market's growth. For instance, the Economic Survey of 2022 reported that India's public expenditure on healthcare rose to 2.1% of GDP in 2021-22 from 1.8% in 2020-21. Hence, the increasing healthcare expenditure is poised to drive the nasal polyps treatment market.

The growing population of elderly individuals is expected to be a driving force in the nasal polyps treatment market. An aging population signifies a demographic shift characterized by a higher proportion of elderly individuals, typically aged 65 and older, relative to younger age groups. As individuals age, their susceptibility to nasal polyps increases, and this condition is common among the elderly. According to World Health Organization Statistics 2022, the percentage of people over 60 globally is projected to increase from 12% to 22% between 2015 and 2050. Consequently, the rising aging population is expected to drive the nasal polyps treatment market.

Innovation in new product development is a prominent trend gaining traction in the nasal polyps treatment market. Key companies in the market are actively focusing on introducing innovative products to strengthen their market positions. For example, in July 2021, GlaxoSmithKline PLC, a UK-based pharmaceutical company, received approval from the US Food and Drug Administration (FDA) for Nucala (mepolizumab), a monoclonal antibody targeting interleukin-5 (IL-5). Nucala is used as a treatment for patients with chronic rhinosinusitis and nasal polyps. This new indication for mepolizumab is intended for the maintenance treatment of CRSwNP in adult patients aged 18 and up who have not responded to nasal corticosteroids.

Major companies in the Nasal Polyps Treatment market are actively seeking Food and Drug Administration (FDA) approvals for launching new treatments. FDA approvals represent the regulatory processes through which the U.S. FDA evaluates and authorizes the marketing and distribution of drugs, medical devices, and food products, ensuring their safety and efficacy for public use. For instance, in March 2022, AstraZeneca received a complete response letter (CRL) from the US FDA regarding its supplemental biologics license application (sBLA) for benralizumab, marketed as Fasenra, submitted to treat patients with nasal polyps and chronic rhinosinusitis that is not well controlled.

In September 2021, Merck & Co. Inc., a US-based biopharmaceutical company, acquired Acceleron Pharma Inc. for a deal amount of $11.5 billion. This acquisition aims to leverage Acceleron's scientific expertise in the biology of the TGF-beta superfamily to develop powerful biotechnology products, including therapies for nasal polyps treatment.

Major companies operating in the nasal polyps treatment market include Sanofi SA, GlaxoSmithKline PLC, F. Hoffmann La Roche AG, Merck & Co. Inc., Teva Pharmaceutical Industries Ltd., AstraZeneca PLC, Bayer AG, Boehringer Ingelheim International GmbH, Cipla Ltd., Circassia Pharmaceuticals PLC, Dr. Reddy's Laboratories Ltd., Genentech Inc., Glenmark Pharmaceuticals Ltd., Johnson & Johnson Services Inc., Lupin Limited, Meda AB, Mundipharma International Limited, Mylan N.V., Novartis AG, Optinose US Inc., Orion Corporation, Pfizer Inc., Regeneron Ireland DAC, Regeneron Pharmaceuticals Inc., Roche Holding AG, Sandoz International GmbH, Stallergenes Greer PLC, Sun Pharmaceutical Industries Ltd., Vectura Group PLC, Zydus Cadila Ltd.

North America was the largest region in the nasal polyps treatment market in 2023 Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the nasal polyps treatment report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the nasal polyps treatment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.

The nasal polyps treatment market includes revenues earned by entities by nasal corticosteroids, oral and injectable corticosteroids, and other medications. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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