Nasal Polyps Treatment Market Growth And Latest Trends 2018-2026
Nasal polyps are benign growths occurring inside the paranasal sinuses and in the lining of the nose. Generally, it is characterized as a teardrop shaped and yellowish brown or pink in color. The size of the polyps may vary and can be clustered or may grow alone. These can cause severe infections and breathing difficulties, causing sleep apnea in some cases. The cause of nasal polyps can be due to asthma, allergic infections, sinus infections, cystic fibrosis, etc. There are no particular symptoms that develop but an inflammation in the lining of the nose can occur.
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Global Nasal Polyps Treatment Market Drivers
Key players are constantly focused on developing novel approaches for treatment of nasal polyps, which is expected to impel the global nasal polyps’s treatment market growth. For instance, in April 2018, Intersect ENT Inc. launched a product, SINUVA. It is a sinus implant and used for treating nasal polyps. It is a new way of treatment in patients with the past sinus surgeries. This implant contains 1.35 mg mometasone furoate which is delivered, directly to the polyps. It is implanted for a definite period of time (90 days).
Furthermore, in June 2019, Novartis AG revealed the phase III clinical trial study of Xolair, Omalizumab. It is a monoclonal antibody used for treating nasal polyps. It tends to target and block the immunoglobulin E. It was observed that the medication was generally well-tolerated in patients. Hence, such developments of treatment for nasal polyps are expected to fuel the global nasal polyps treatment market growth.
Increasing approvals from regulatory bodies related to nasal polyps treatment is expected to drive the global nasal polyps treatment market growth. For instance, in June 2019, Dupixent received an approval from the U.S. Food & Drug Administration (FDA) for treating with nasal polyps. It was manufactured by Sanofi in partnership with Regeneron Pharmaceuticals Inc. It is the first treatment that got approved for chronic rhinosinusitis with nasal polyps. It is used when the oral steroids are unable to control the inflammation and to avoid the surgical method. Hence, such approvals are expected to impact positively on the global nasal polyps treatment market growth.
Global Nasal Polyps Treatment Market Regional Analysis
North America is expected to hold a dominant position in the global nasal polyps treatment market. Factors such as higher prevalence of asthma is expected to be a major contributor in the North America’s nasal polyps treatment market growth. Nasal polyps are triggered due to asthma and also at the same time nasal polyps can cause asthma. For instance, according to American Academy of Allergy, Asthma & Immunology 2017, published data, around 28% to 40% patients with nasal polyps are diagnosed with asthma. According to the same source, around 19% to 39% patients get nasal polyps who are already suffering from asthma. Such increasing prevalence may increase the demand for treatment of nasal polyps thereby expected to propel the global nasal polyps treatment market growth.
Global Nasal Polyps Treatment Market Restraints
Side effects associated with the medication used for the treatment of nasal polyps may restrain the global nasal polyps treatment market growth. The mometasone furoate monohydrate can cause common side effects such as headache, sore throat, muscle and joint pain, nausea, and in some cases bleeding of nose. Hence, this factor may obstruct the global nasal polyps treatment market growth.
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Global Nasal Polyps Treatment Market Key Players
Some of the major players operating in the global nasal polyps treatment market include, Intersect ENT Inc., GlaxoSmithKline Plc, Merck Sharp and Dohme Corp, Teva Branded Pharmaceutical Products R and D Inc., Norton Waterford Ltd, Sanofi, Regeneron Pharmaceuticals Inc., Fougera Pharmaceuticals Inc., Glenmark, and Taro Pharmaceuticals Industries Ltd.
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