Sinusitis Treatment Market Size, Share, Growth, Trends, Comp...| MENAFN.COM

Friday, 31 March 2023 06:17 GMT

Sinusitis Treatment Market Size, Share, Growth, Trends, Competitive Landscape, Forecast Period 2023-2030

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DataM Intelligence

According to the DataM market research report, the global sinusitis treatment market size is projected to reach US$ 4.26 billion by 2030

In July 2021, GlaxoSmithKline (GSK) declared that the FDA had authorized Nucala (mepolizumab) as a therapy for those with chronic rhinosinusitis who also have nasal polyps (CRSwNP)” - DataM IntelligenceCLEVELAND, OHIO, USA, March 16, 2023 / / -- Sinusitis Treatment Market

The rising cases of chronic sinusitis, the development of new drug delivery technologies, the growing geriatric population, and the availability of treatment options drive the growth of the global sinusitis treatment market.

Market Overview:

The tissue lining the sinuses, which are air-filled cavities in the face and skull, becomes inflamed and swollen when a person has sinusitis. A bacterial, viral, fungal, or allergic reaction may be responsible for the disease, which can either be transient or persistent. Sinusitis is often treated with a combination of methods, including drugs to treat the inflammation's underlying cause and relieve symptoms as well as various therapies to make patients feel better and speed up recovery.

Market Size Growth Rate:

According to the DataM market research report, the global sinusitis treatment market size was valued at US$ billion in 2022, it is projected to reach US$ 4.26 billion by 2030, with growth at a CAGR of 4.0% over the forecast period 2023-2030. North America is estimated to contribute 39.7% to the growth of the global market over the forecast period.

The market is driven by factors such as the rising incidence of sinusitis, growing awareness about sinusitis, advancements in technology, increasing healthcare expenditure, an aging population, and the rising prevalence of allergies. However, the high cost of sinusitis treatment, including medications, and other therapies, is restraining the market growth.

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Market Drivers:

An inflammation of the sinus or nasal passages that lasts longer than 12 weeks is referred to as chronic sinusitis. It can manifest as allergic fungal rhinosinusitis, chronic sinusitis without nasal polyps, and chronic sinusitis with nasal polyps. Sinusitis, sometimes referred to as rhinosinusitis, is one of the most typical causes of clinical visits in the U.S. Moreover, it ranks highly among the indications for prescribing antibiotics. Up to 73 million people restricted activity due to sinusitis occurred during the course of a year, with total direct medical costs of over 2.4 billion excluding costs for radiographic imaging or surgery. The Increasing incidences of sinusitis drive the demand for treatment worldwide.

Market Restraints:

It is anticipated that the side effects of sinusitis treatment may hamper market growth. Antibiotics frequently cause diarrhea, nausea, vomiting, and abdominal pain as side effects. Moreover, some people may develop adverse responses such as hives, rash, and breathing difficulties. Medication for nasal corticosteroids may cause headaches, nosebleeds, or dryness of the nasal passages. Antihistamines may lead to feeling sleepy, dry-mouthed, and lightheaded. These sprays may result in headaches, nosebleeds, and nasal lining irritation. Decongestants may have unwanted side effects, including anxiety, lightheadedness, sleeplessness, and raised blood pressure.

Market Opportunities:

There are opportunities for market expansion due to the development of novel drug delivery technologies and drug combinations, as well as new and creative treatments for the treatment of sinusitis. For instance, Lyra's flagship product candidate, LYR-210, is being developed to treat the inflammatory condition known as chronic rhinosinusitis (CRS), which affects the paranasal sinuses. Based on Lyra's XTreoT platform, LYR-210 is an anti-inflammatory implantable drug matrix that can deliver mometasone furoate reliably and locally to surgically unexperienced CRS patients with inflamed mucosal tissue for up to six months after a single treatment. For CRS sufferers, LYR-210 is being explored as an alternative to sinus surgery. As of September 2022, the clinical trial evaluation for the treatment of chronic rhinosinusitis is in Phase III.

COVID-19 Impact Analysis:

Due to the pandemic, many people have put off getting sinusitis treatment, either out of fear of contracting the virus or because COVID-19 sufferers are receiving more attention from doctors. Delays in diagnosis and treatment have resulted, which could have affected the demand for sinusitis treatments. To save money and lower the danger of COVID-19 transmission, several hospitals and clinics have cut back on or stopped performing elective procedures, including sinus operations. The sales of sinus surgery items have probably suffered as a result.

Recent Developments in the Industry:

In July 2021, GlaxoSmithKline (GSK) declared that the FDA had authorized Nucala (mepolizumab) as a therapy for those with chronic rhinosinusitis who also have nasal polyps (CRSwNP). Mepolizumab, a monoclonal antibody that targets interleukin-5, has a new indication in this case (IL-5).
In August 2020, Novartis announced that the European Commission (EC) approved Xolair (omalizumab) as an add-on therapy with intranasal corticosteroids (INC). In patients with CRSwNP5, Xolair improves symptoms and quality of life by reducing nasal polyp size as measured by the Nasal Polyp Score (NPS). The first medication for CRSwNP that targets and blocks immunoglobulin E (IgE), a significant contributor to the disease's inflammatory process, is called Xolair.

Market Segmentation:

As per the research analysis, the global sinusitis treatment market is segmented by treatment into Antibiotics, Analgesics, Antihistamines, Corticosteroids, and Others by disease into Acute Sinusitis, Sub-acute Sinusitis, and Chronic Sinusitis and by distribution channel into Hospital Pharmacies, Retail Pharmacies, Online Pharmacies.

Based on treatment, the antibiotics segment is estimated to contribute 48% to the growth of the global market over the forecast period (2023-2030). A sinus infection can be treated with antibiotics when it is caused by bacteria. Treatment choices include high-dose amoxicillin-clavulanate (2 g/125 mg extended-release tablets orally twice daily), a respiratory fluoroquinolone (levofloxacin 500 mg orally once daily or moxifloxacin 400 mg orally once daily), or a third-generation cephalosporin plus clindamycin. For penicillin-allergic patients, doxycycline 100 mg orally twice daily or 200 mg orally daily is an additional alternative.

Geographical Classification:

The global sinusitis treatment market is segmented into major countries, including North America, Europe, South America, Asia Pacific and Middle East & Africa.

Asia-Pacific Sinusitis Treatment Market:

In Asia-Pacific, sinusitis is a widespread disease with a high prevalence rate. One of the main factors driving the market is the rising prevalence of sinusitis. People are becoming more and more aware of the signs, causes, and effects of sinusitis. As a result, there is a rising need for efficient treatment solutions.

North America Sinusitis Treatment Market:

Around 30 million diagnoses of sinusitis are made each year in the United States, where it affects about 1 in 8 persons. An estimated 18 to 22 million American doctors' offices visit patients with chronic sinusitis each year, and as was previously indicated, sinusitis in all its manifestations results in enormous healthcare costs. Around 16 million doctor visits are attributed to rhinosinusitis each year in the United States, where it affects an estimated 35 million people. The frequency is highest between the ages of 45 and 64, and it is more prevalent in females. The increasing number of cases of sinusitis and the availability of products drive the market in the North American region.

Europe Sinusitis Treatment Market:

In Europe, about 10% of people suffer from chronic sinusitis. The proportion of impacted people is even higher in some locations. Because of their elderly populations, the UK and Germany are more likely to get sinusitis. As a result, there is no more need for efficient treatment choices. Government policies in European countries are supportive of healthcare programs and research, which is encouraging the development of novel and effective sinusitis treatments.

Competitive Analysis:

There are numerous international, regional and local suppliers in the global Sinusitis Treatment industry. The competition in the local market is fierce. The vendors compete based on price, product quality, and dependability. As a result, to prosper and survive in a competitive market, suppliers must provide cost-efficient and effective products.

Major Companies:

Major key companies working towards the market's growth include GlaxoSmithKline Plc., Cipla Ltd., Dr. Reddy's Laboratories Ltd, Sanofi SA, Pfizer, Inc., Novartis AG, Bayer AG, Teva Pharmaceutical Industries, Johnson & Johnson, Regeneron Pharmaceuticals Inc, and others.

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Additional Benefits Post Purchase:

1) Unlimited Analyst support for a period of 1 year.
2) Any query with regards to the scope offered will be addressed within 24- 48 hours.
3) An excel sheet with market numbers will be provided separately.

The Full Report has the below insights:

The report offers a comprehensive evaluation of the market in terms of market value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2021-2022) and verifiable projections about market size during the forecast period (2023-2030).
Visualize the composition of the global sinusitis treatment market segmentation by treatment, disease, distribution channel and region, highlighting the key commercial assets and players.
By Treatment: Antibiotics, Analgesics, Antihistamines, Corticosteroids, and Others.
By Disease: Acute Sinusitis, Sub-acute Sinusitis, and Chronic Sinusitis.
By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies.
By Region: North America, South America, Europe, Asia Pacific, Middle East & Africa
Identify commercial opportunities in the global sinusitis treatment market by analyzing trends and co-development deals.
The report also covers data insights on various industry forces such as, porter's five forces analysis, supply chain analysis, pricing analysis, regulatory analysis.
Excel data sheet with thousands of data points of global Sinusitis Treatment market-level 4/5 segmentation.
PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
Product mapping in excel for the key product of all major market players
The report will provide access to approximately 61 market data tables, 64 figures and close to 180 pages.

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Sinusitis Treatment Market Size, Share, Growth, Trends, Competitive Landscape, Forecast period 2023-2030 News Provided By datam intelligence 4market research llp March 16, 2023, 14:00 GMT Share This Article Distribution channels: business & economy , companies , healthcare & pharmaceuticals industry , international organizations , world & regional

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