Adoption of minimally invasive techniques, technological advancements, substantial prevalence of rhinosinusitis with favorable reimbursement scenarios
— Emergen Research
VANCOUVER, BC, CANADA, September 23, 2022 /EINPresswire.com/ — The global Chronic Rhinosinusitis Market was valued at USD 2132.5 million in 2019 and is expected to reach USD 3508.0 million by 2027, at a CAGR of 7.4%, according to the current analysis of Emergen Research. Development and manufacture of proficient sinusitis drugs are likely to be highly demanded for efficient treatment of chronic rhinosinusitis as, pollutants, fungal infections and massive allergies, contributing to the rising incidence of rhinosinusitis.
Moreover, growing chronic prevalence of growing prevalence of chronic asthma, inflammation of mucosal linings of the nasal passage, and cases of paranasal sinuses are expected to fuel the growth prospects of rhinosinusitis market in the forecast period. Roughly more than 15 million people suffer from chronic symptoms of rhinosinusitis in the United States, that is, prevalence of chronic rhinosinusitis ranges from 1% to 5% of the total US population.
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Chronic rhinosinusitis is primarily characterized by nasel blockage, inflammation of the sinus and nasel linings, facial pain along with rhinorrhea and loss of sense of smell. Effective treatment includes improvement in sinus outflow, enhancement of mucociliary clearance and elimination of inflammation and local infection among other associated treatments.
Additionally, an increase in implementation of minimally invasive surgical procedures, widespread awareness concerning the symptoms of the target disease across regions and technological progressions among other favorable scenarios are likely to augment the growth of industry during the period of 2020-2027.
The global Chronic Rhinosinusitis market is highly consolidated due to the presence of a large number of companies across this industry. These companies are known to make hefty investments in research and development projects. Also, they control a considerable portion of the overall market share, thus limiting the entry of new players into the sector. The global Chronic Rhinosinusitis market report studies the prudent tactics undertaken by the leading market players, such as partnerships and collaborations, mergers & acquisitions, new product launches, and joint ventures.
Some major companies in the global market report include AstraZeneca, Bayer AG, Ivax Pharmaceuticals, Pfizer, Novartis Pharmaceuticals Corporation, Sanofi, Sunovion Pharmaceuticals, Cipla, Smith & Nephew, Medtronic, SinuSys Corporation, Olympus Corporation and Acclarent among other companies
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Some Key Highlights from the Report
Xolair (Omalizumab) manufactured by Novartis, was approved in August 2020, by the European Commission (EC). The product development is attributed to treat severe chronic rhinosinusitis with nasal polyps
Due to considerable employability of antibiotics and their efficacy in treating chronic rhinosinusitis, antibiotics product segment held largest market share of 41.6% in 2019 and is likely to dominate the industry during 2019-2027
Immune deficiency disease segment in the disease outlook registered highest CAGR of 7.1% in 2019 whereas, anatomical differences disease segment accounted for the largest market share of approximately 37.5% owing to an increase in prevalence of target disease across the globe
Regeneron Pharmaceuticals and Sanofi’s Dupixent (Dupilumab) was approved in June 2019, by the US Food and Drug Administration (FDA). This drug is customized for adults with incompetently controlled chronic rhinosinusitis along with nasal polyposis
Emergen Research have segmented Chronic Rhinosinusitis Market on the basis of product, disease type, distribution channel and region:
Product Outlook (Revenue in Million USD; 2017–2027)
Topical Nasal Steroid
Hypertonic and Isotonic Saline
Steroid Nasal Irrigation
Topical Antibiotic Therapy
Endoscopic Intranasal Intervention
Disease Outlook (Revenue in Million USD; 2017–2027)
Distribution Channel (Revenue in Million USD; 2017–2027)
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Global Chronic Rhinosinusitis Market Geographical Landscape – Synopsis:
The report closely studies the growth trajectory of the global Chronic Rhinosinusitis market. It brings to light the global dominance of the leading regional segments, including North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
The study elaborates on the crucial information pertaining to the regional market share. It simultaneously focuses on the significant details about the growth patterns of each regional market.
Moreover, the report encases an exhaustive geographical study of the market, emphasizing the business growth prospects and market barriers for each of the key market regions.
Key Benefits of Buying the Global Chronic Rhinosinusitis Report:
Comprehensive analysis of the changing competitive landscape
Assists in decision making processes for the businesses along with detailed strategic planning methodologies
The report offers an 8-year forecast and assessment of the Global Chronic Rhinosinusitis Market
Helps in understanding the key product segments and their estimated growth rate
In-depth analysis of market drivers, restraints, trends, and opportunities
Comprehensive regional analysis of the Global Chronic Rhinosinusitis Market
Extensive profiling of the key stakeholders of the business sphere
Detailed analysis of the factors influencing the growth of the Global Chronic Rhinosinusitis Market
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