NASAL POLYPS TREATMENT MARKET ANALYSIS

Nasal polyps are soft, painless, noncancerous developments on the coating of nasal sections or sinuses. They hang down like grapes and are in yellowish brown or pink color. They result from persistent irritation and are related with asthma, repeating disease, sensitivities, drug awareness or certain invulnerable issues. The treatment objective for nasal polyps is to decrease their size or eliminate them. Medicines are generally the first approach to cure nasal polyps.

• Nasal polyp treatment generally starts with medicines, which can make large polyps shrink or dissolve
• Mostly corticosteroid nasal sprays are prescribed by doctors to reduce swelling and irritation
• If nasal spray doesn’t work oral corticosteroid, either alone or in combination with a nasal spray are prescribed by doctors
• If drug treatment doesn't help to eliminate nasal polyps, endoscopic surgery is needed to remove polyps and to solve the problem with sinuses that make them prone to inflammation and the development of polyps

Global Nasal Polyps Treatment Market - Impact of the Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic is expected to drive growth of the global nasal polyps treatment market, owing to COVID-19 symptoms related with nasal polyps such as loss of smell. For instance, according to data published in Elsevier Journal in June, 2022, Chronic rhinosinusitis is a sickness characterized by prolonged inflammation of the sinonasal mucosa, Chronic rhinosinusitis is phenotypically classified as chronic rhinosinusitis with nasal polyps. About 56 to 78% of Chronic rhinosinusitis patients suffer with olfactory dysfunction. Olfactory loss without nasal congestion is among the typical early symptoms of COVID-19. Almost COVID-19 disease and chronic rhinosinusitis have same symptoms such as loss of smell. As a result of this, demand for drugs for the treatment of nasal polyp has increased through which it is expected to drive growth of the global nasal polyps treatment market.

Market players are getting approvals from regulatory bodies for new drugs, which is expected to drive growth of global nasal polyps treatment market, over the forecast period. For instance, on July 29, 2021, GlaxoSmithKline plc, a pharmaceutical and biotechnology company, got an approval from the U.S. Food and Drug Administration for its drug Nucala (mepolizumab) used for the treatment of patients with chronic rhinosinusitis with nasal polyps. Mepolizumab, is a monoclonal antibody that targets interleukin-5. Mepolizumab is the first IL-5 remedy accepted as an add-on treatment in the U.S. for adults with chronic rhinosinusitis with nasal polyps to aim eosinophilic inflammation.         

Global nasal polyps treatment market is estimated to be valued at US$ 2,992.21 Mn in 2022 and is expected to exhibit a CAGR of 6.9% over the forecast period (2022-2030)  

Figure 1: Global Nasal Polyps Treatment Market Share, (%), Analysis, By Drug Class, 2022

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Market players are involved in launching of new products for the treatment of nasal polyps. This is expected to drive growth of the global nasal polyps treatment market over the forecast period.

Market players are developing new product and this is expected to drive growth of the global nasal polyps treatment market over the forecast period. For instance, in April 2018, Intersect ENT Inc. a subsidiary of Medtronic, a medical device company, launched a product, SINUVA. SINUVA is non-surgical option used for the treatment of nasal polyps. It reduced sinus obstacle and improves reduced sense of smell. It reduced symptoms of nasal obstacle and congestion for up to 90 days.

Key players are engaged in receiving approvals for their new drugs from regulatory authorities, which is expected to drive growth of the global nasal polyps treatment market over the forecast period.

Product approvals by regulatory bodies are expected to drive growth of the global nasal polyps treatment market over the forecast period. For instance, on December 1, 2020, Novartis, a pharmaceutical company, had announced that the U.S. Food and Drug Administration had approved its product Xolair (omalizumab). Xolair is used for the treatment of nasal polyps in adult patients. Xolair is the first biologic for the treatment of nasal polyps that aims and blocks immunoglobulin E (IgE).

Global Nasal Polyps Treatment Market Share – Restraints

Increasing side effects of the drugs used for the treatment of nasal polyps is expected to hamper growth of the global nasal polyps treatment market, over the forecast period. For instance, according to 2019 revised data of National Institute of Health, fluticasone is a corticosteroids nasal spray used for the treatment of nasal polyps. It works by blocking the discharge of definite natural substances that cause allergy indications. Use of fluticasone nasal spray cause side effects such as severe face pain, thick nasal discharge, fever, sore throat, chills, cough, and other signs of infection, whistling sound from the nose, hives, rash, itching, swelling of the face, throat, tongue, lips, eyes, hands, feet, ankles, or lower legs. These issues may hamper growth of the global nasal polyps treatment market.

Global Nasal Polyps Treatment Market – Regional Analysis

On the basis of region, the global nasal polyps treatment market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa

Among regions, North America nasal polyps treatment market is expected to hold a dominant position during the forecast period, owing to increasing chronic rhinosinusitis patients. For instance, according to 2020 data published by National Center for Biotechnology Information Chronic rhinosinusitis affected about 2% to 16% of the U.S. population. About 25 to 30% of patient were suffering from chronic rhinosinusitis with nasal polyps. Such increasing occurrence of patients may increase demand for treatment of nasal polyps, which is expected to push the nasal polyps treatment market growth.

Furthermore, Europe is also estimated to witness significant growth in the global nasal polyps treatment market, owing to increasing research and development of new drugs by market players, for the treatment of nasal polyps. For instance, in June 2019, Roche Holding AG, a pharmaceutical company, had successfully completed and announced the positive result from two Phase III multicenter studies evaluating Xolair for the treatment of adults with chronic rhinosinusitis with nasal polyps. Xolair is an injectable medicine intended to target and block immunoglobulin E.

Figure 2: Global Nasal Polyps Treatment Market (US$ Bn), by Region, 2022

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Global Nasal Polyps Treatment Market – Competitive Landscape

Major players operating in the global nasal polyps treatment market include Regeneron Pharmaceuticals, Inc., Hoffmann-La Roche Ag, Fougera Pharmaceuticals Inc., Novartis International Ag, Sanofi S.A., GlaxoSmithKline Plc, Intersect Ent, Dohme Corp, Merck & Co., Inc., Sanofi S.A., Norton Waterford Ltd, Astrazeneca Plc, Taro Pharmaceuticals Industries Ltd., Teva Pharmaceutical Industries Limited, and OptiNose Inc.