Global Nasal Polyposis Drugs Market – Industry Trends and Forecast to 2029

Nasal Polyposis Drugs Market Analysis and Size

The global nasal polyposis drugs market is expected to witness significant growth during the forecast period. Growing cases of nasal sinuses and allergies drives the nasal polyposis drugs market. Although the reasons for the diseases are not clear, due to the long-term nasal allergies, asthma and vitamin D deficiency boosts the growth of the nasal polyposis drugs. COVID-19 also had a major impact on the market growth.

 Data Bridge Market Research analyses a growth rate in the global nasal polyposis drugs market in the forecast period 2022-2029. The expected CAGR of global nasal polyposis drugs market is tend to be around 5.60% in the mentioned forecast period. The market was valued at USD 2.64 billion in 2021, and it would grow upto USD 4.08 billion by 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Market Definition

Nasal polyposis are also known as nasal polyps. These are painless, soft, non-cancerous growth on the lining of nasal sinus & passage. They hang down towards the nostrils and may block the nasal passage or lead to breathing problem. Even though they do not cause major symptoms but, they are associated with several diseases such as asthma, sinusitis symptoms may include runny nose, persistent stuffiness, chronic inflammation, pain in upper teeth, snoring and frequent nosebleeds.           

Nasal Polyposis Drugs Market Scope and Segmentation

Global Nasal Polyposis Drugs Market Dynamics

Drivers

• Increased Research Activities

With each passing decade, more and more research activities are performed that boost the growth of the market. For instance, Hoffmann-La Roche completed its Phase III study on March 11, 2019, which was performed to test efficacy and safety of omalizumab when compared with placebo in patients having chronic rhinosinusitis with nasal polyps who have had an insufficient response to standard treatments. 

Opportunities

• Increasing Demand for Retail Pharmacies

The rise in the number of rhinitis therapeutics delivered through the retail pharmacies and the rise in the number of these pharmacies in developed countries create opportunities for the market growth. Additionally, patients prefer retail pharmacies for purchasing drugs, as these are easily accessible.

• Approval From Regulatory Bodies

Rising recommendation from regulatory bodies for approval of the new drug used in the treatment of nasal polyps, is expected to drive the growth of nasal polyposis drugs market, over the forecast period. For instance, on June 26, 2020, Novartis got a positive recommendion on  the approval of its product Xolair. It is used to treat adults with serious chronic rhinosinusitis with nasal polyps. Xolair is used for the treatment for nasal polyps targeting and blocking immunoglobulin E (IgE), that assists to decrease the size of nasal polyps.

 Restraints/Challenges

• Lack of skilled professionals

The lack of qualified healthcareprofessionals who are unable to treat these patients with appropriate treatments could curb the growth of the global nasal polyposis drugs market over a forecast period.

• High Cost

The huge expenditure associated with the treatment of nasal polyposis surely hamper the market growth.

This global nasal polyposis drugs market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global nasal polyposis drugs market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Global Nasal Polyposis Drugs Market Scope

The nasal polyposis drugs market is segmented on the basis of drugs, route of administration , distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Drugs

• Nasal corticosteroids
• Oral and injectable corticosteroids
•  Dupixent
• Others

Route of Administration

• Oral
• Parenteral
• Nasal
• Others

End User

• Hospitals
• Homecare
• Specialty Clinics
• Others

Distribution Channel

• Hospital Pharmacy
• Online Pharmacy
• Retail Pharmacy

Nasal Polyposis Drugs Market Regional Analysis/Insights

The global nasal polyposis drugs market is analysed and market size insights and trends are provided by drugs, route of administration, distribution channel and end-user as referenced above.

The major countries covered in the global nasal polyposis drugs market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific has been witnessing a positive growth for global nasal polyposis drugs market throughout the forecasted period due to greater awareness about this disease & its treatment, and number of generic drugs.

North America dominates the market due to the increased incidence of allergic reactions. Europe anticipates second largest market share due to increased healthcare expenditure.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Nasal Polyposis Drugs Market Share Analysis

The global nasal polyposis drugs market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global nasal polyposis drugs market.

Key players operating in the global nasal polyposis drugs market include:

• Pfizer Inc.(U.S.)
• Merck KGaA (Germany)
• Sanofi (France)
• Biocare Medical, LLC (U.S.)
• Lilly (U.S.)
• Teva Pharmaceutical Industries (Israel)
• Mitsubishi Chemical Group Corporation (U.S.)
• Bristol-Myers Squibb Company (U.S.)
• GSK plc. (U.K.)
• Bayer AG (Germany)
• Teva Pharmaceuticals Industries Ltd. (Israel)
• AstraZeneca (India)
• Regeneron Pharmaceuticals Inc (U.S.)
• OptiNose US, Inc (U.S.)

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