Is Nasal Polyps Treatment Market as Important as Everyone Says?

Nasal polyps are non-cancerous growths or swellings that develop in the lining of the nose and sinuses. These polyps usually form in layers of sinuses and obstruct the path of the sinuses. Nasal polyps are not painful. The causes for the development of nasal polyps can be long-term inflammation or genetic traits. There are two main types of nasal polyps: ethmoid and anthrochoanal. Ethmoid polyps originate from the ethmoid sinuses and extend through the middle meatus into the nasal cavity.

Anthrochoanal polyps usually arise in the maxillary sinus and extend into the nasopharynx and account for only 4 to 6% of all nasal polyps. However, anthrochoanal polyps are more common in children who comprise one-third of all polyps in this population. Ethmoidal polyps are usually smaller and multiple, while antrochoanal polyps are usually single and larger. Treatment of nasal polyps aims to reduce the inflammation of the nasal passages and sinuses, as well as shrink the nasal polyps.

The global nasal polyps treatment market size was valued at $2.48 billion in 2020, and is projected to reach $4.24 billion by 2030 registering a CAGR of 5.60% from 2021 to 2030.

• CAGR: 5.6%
• Current Market Size: USD 2.48 Billion
• Forecast Growing Region: APAC
• Largest Market: North America
• Projection Time: 2021- 2030
• Base Year: 2021

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Prime determinants of growth
Rapid utilization of minimally-invasive surgeries, rise in prevalence of chronic rhinosinusitis, and huge product pipeline drive the growth of the global nasal polyps treatment market. However, high cost and complications associated with sinus surgeries, and adverse reactions associated with steroid therapies hinder the market growth. On the other hand, technological improvement in nasal polyps treatment present new opportunities in the coming years.

Impact of Covid-19 on Nasal Polyps Treatment Market-

• During the Covid-19 pandemic, demand for antibiotics increased due to symptoms associated with nasal polyps such as loss in sense of smell and taste, feeling of congestion, and difficulty in breathing.
• Sinus infection and COVID-19 share similar symptoms, it is important to know the difference. As a result, in the ongoing pandemic, the nasal polyps treatment market is expected to grow, owing to increase in demand for diagnostic tests and antibiotics.
• This way, the outbreak of COVID-19 has positively impacted the nasal polyps treatment market.

The nasal segment to maintain its leadership status throughout the forecast period

Based on route of administration, the nasal segment held the highest market share in 2020, accounting for more than half of the global nasal polyps treatment market, and is estimated to maintain its leadership status throughout the forecast period, owing to nasal delivery route being an encouraging way of delivering drugs into the body as compared to other drug delivery route such as oral and others. Moreover, this segment is projected to manifest the highest CAGR of 6.0% from 2021 to 2030. Another segment discussed in the report is oral.

The retail pharmacies segment to maintain its lead position during the forecast period

Based on distribution channel, the retail pharmacies segment accounted for the largest share in 2020, contributing nearly half of the global nasal polyps treatment market, and is projected to maintain its lead position during the forecast period, owing to increase in preference of retail pharmacies by the population, as it is the oldest and most conventional medium distributing the nasal polyps treatment products such as corticosteroids, antibiotics and leukotriene inhibitors to the consumers. Moreover, this segment is expected to portray the largest CAGR of 6.1% from 2021 to 2030. Other segments discussed in the report are hospital pharmacies and online pharmacies.

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North America to maintain its dominance by 2030
Based on region, North America held the highest market share in terms of revenue 2020, accounting for nearly half of the global nasal polyps treatment market, owing to presence of major key players in the countries like the U.S. In addition, presence of a large population with nasal polyps, increase in incidences of CRSwNP, surge in the number of sinus surgeries are factors that supplement the growth of the region. However, the Asia-Pacific region is expected to witness the fastest CAGR of 7.5% from 2021 to 2030. This is due to growth in healthcare infrastructure, rise in prevalence of nasal polyps and its associated disorders such as asthma and sinusitis, and increase n disposable incomes.

Leading Market Players:-
• AstraZeneca plc.
• F. Hoffmann-La Roche AG
• GlaxoSmithKline PLC
• Intersect ENT Inc.
• Merck & Co Inc.
• Novartis International AG
• OptiNose US
• Regeneron Pharmaceuticals Inc.
• Sanofi S.A
• Teva Pharmaceutical Industries Ltd.

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