PUBLISHER: The Business Research Company | PRODUCT CODE: 1546446
PUBLISHER: The Business Research Company | PRODUCT CODE: 1546446
Chronic Rhinosinusitis with Nasal Polyps (CRSwNP) is an enduring inflammatory condition affecting the sinuses and nasal passages, characterized by the development of nasal polyps. These polyps are benign, swollen tissues that form in response to ongoing inflammation in the nasal passages or sinuses. Diagnosis typically involves evaluating symptoms, conducting clinical examinations, utilizing imaging techniques, allergy tests, and occasionally performing biopsies.
The primary treatments for chronic rhinosinusitis with nasal polyps encompass both pharmaceutical and surgical approaches. Medications aim to alleviate inflammation, manage symptoms, and reduce the size of polyps. They can be administered via nasal sprays, orally, or through other routes, and are available through hospital pharmacies, retail outlets, and online platforms.
The chronic rhinosinusitis with nasal polyps market research report is one of a series of new reports from the business research company that provides chronic rhinosinusitis with nasal polyps market statistics, including chronic rhinosinusitis with nasal polyps industry global market size, regional shares, competitors with an chronic rhinosinusitis with nasal polyps market share, detailed chronic rhinosinusitis with nasal polyps market segments, market trends and opportunities, and any further data you may need to thrive in the chronic rhinosinusitis with nasal polyps industry. This chronic rhinosinusitis with nasal polyps 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 chronic rhinosinusitis with nasal polyps market size has grown strongly in recent years. It will grow from $3.69 billion in 2023 to $4.02 billion in 2024 at a compound annual growth rate (CAGR) of 9%. The increase during the historic period can be credited to rising prevalence rates, advancements in diagnostic techniques, innovations in treatment, heightened patient awareness, and increased healthcare expenditures.
The chronic rhinosinusitis with nasal polyps market size is expected to see strong growth in the next few years. It will grow to $5.7 billion in 2028 at a compound annual growth rate (CAGR) of 9.1%. Anticipated growth in the forecast period can be attributed to the expansion of biologic therapies, the rise of personalized medicine, advancements in technology, increased regulatory approvals, a shift towards patient-centric care, and the monitoring of epidemiological trends. Key trends expected in this period include innovative drug delivery systems, deeper understanding of pathophysiology, expanded clinical trials and longitudinal studies, heightened awareness, integrated care models, and changes in prevalence and incidence rates.
The rising prevalence of respiratory diseases is expected to drive growth in the chronic rhinosinusitis with nasal polyps market. These diseases affect the respiratory system, including the lungs and airways, and are influenced by factors such as air pollution, smoking, climate change, infections, occupational exposures, and allergies. Conditions such as asthma and chronic obstructive pulmonary disease (COPD) are increasingly common, leading to higher rates of associated conditions such as CRSwNP. This trend is fueling demand for diagnostic tools, treatments, and surgical interventions. For example, recent data from the National Center for Health Statistics (NCHS) shows an increase in asthma prevalence among U.S. adults from 8.4% in 2021 to 8.7% in 2022, with asthma episodes rising from 3.3% to 3.7% over the same period. As respiratory tract infections become more prevalent, they are expected to further stimulate growth in the chronic rhinosinusitis with nasal polyps market.
Major companies in the chronic rhinosinusitis with nasal polyps market are focusing on innovative therapies such as anti-IL-5 biologics to enhance patient outcomes and gain competitive advantage. These biologics target eosinophilic inflammation seen in severe asthma and related disorders, improving symptom management and quality of life. For instance, GlaxoSmithKline (GSK) obtained FDA approval in July 2021 for Nucala (mepolizumab), a monoclonal antibody targeting interleukin-5 (IL-5), to treat CRSwNP as an add-on therapy for adults who haven't responded adequately to nasal corticosteroids. Mepolizumab is also approved for severe eosinophilic asthma, eosinophilic granulomatosis with polyangiitis (EGPA), and hypereosinophilic syndrome (HES), underscoring its broad therapeutic application in eosinophilic disorders.
In May 2022, Medtronic Plc, a US-based medical technology solutions company, completed the acquisition of Intersect ENT Inc. for an undisclosed amount. The acquisition adds Intersect ENT's PROPEL and SINUVA sinus implant product lines and technology to Medtronic's existing ear, nose, and throat (ENT) portfolio. Intersect ENT Inc. is a US-based medical technology company specializing in treating chronic rhinosinusitis with nasal polyps.
Major companies operating in the chronic rhinosinusitis with nasal polyps market are Pfizer Inc., Roche Holding AG, Merck & Co Inc, Bayer AG, Sanofi SA, Bristol-Myers Squibb Company, AstraZeneca PLC, Novartis AG, GlaxoSmithKline plc, Takeda Pharmaceutical Company Limited, Medtronic plc, Boehringer Ingelheim International GmbH, Amgen Inc, Teva Pharmaceutical Industries Ltd, Regeneron Pharmaceuticals Inc, Daiichi Sankyo Company Limited, Olympus Corporation, Eisai Co Ltd, Smith & Nephew PLC, Genentech USA Inc, Mallinckrodt Pharmaceuticals, Lyra Therapeutics Inc, Sunovion Pharmaceuticals, Acclarent Inc., Optinose US Inc, SinuSys Corporation, Biohaven Pharmaceuticals
North America was the largest region in the chronic rhinosinusitis with nasal polyps market in 2023. The regions covered in the chronic rhinosinusitis with nasal polyps market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the chronic rhinosinusitis with nasal polyps market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The chronic rhinosinusitis with nasal polyps market consists of revenues earned by entities by providing services such as medical consultations, diagnostic procedures, pharmacological treatments, and surgical interventions. The market value includes the value of related goods sold by the service provider or included within the service offering. The chronic rhinosinusitis with nasal polyps market also includes sales of nasal corticosteroid sprays, antihistamines, saline nasal sprays, and devices for nasal irrigation, as well as surgical instruments and equipment used in procedures such as polypectomy and functional endoscopic sinus surgery. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
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.
Chronic Rhinosinusitis With Nasal Polyps Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on chronic rhinosinusitis with nasal polyps market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for chronic rhinosinusitis with nasal polyps ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The chronic rhinosinusitis with nasal polyps market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.