Advancement in Sinusitis Surgery Driving the Growth of Sinusitis Treatment Market, to Grow at a CAGR of 12.4% during 2018–2024
NEW YORK, Oct. 12, 2018 (GLOBE NEWSWIRE) -- Global Sinusitis Treatment Market size is expected to reach, USD 50.41 Billion in 2024, at a CAGR of 12.4% from 2018 to 2024. Factors propelling the growth of the market include growing number of chronic sinusitis patients coupled with technological advancements in sinus surgery. Moreover, growing awareness among people regarding its detection and treatment, and investment in research and development activities by major players is further propelling the growth of the global sinusitis treatment market.
The report segments the global sinusitis treatment market by Types (chronic sinusitis, acute sinusitis, sub-acute sinus, and recurrent sinusitis), by Age Group (children, teenagers, and adults), by Types of Treatment (oral decongestants, expectorants, nasal spray, antibiotics, antihistamines, surgery (functional endoscopic sinus surgery (FESS), image guided surgery, caldwell Luc operation) and others) by End-User (hospitals, surgical centers, and pharmacy store) and by Region (North America, Latin America, Europe, Asia-Pacific, and Middle East and Africa). The report studies the global sinusitis treatment market over the forecast period (2018-2024).
Sinuses are hollow spaces located in the bone around the nose that is connected to the nose through a small narrow channel. Sinusitis refers to infection of sinuses and it generally occurs due to bacteria, viruses or allergy, and in some cases due to autoimmune problems. The infection causes inflammation of the sinus lining resulting in facial pain and blocked or runny nose.
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Key Findings from the report
-- The global sinusitis treatment market is expected to grow from USD 22.26 billion in 2017 to USD 50.41 billion in 2024, at a CAGR of 12.4% from 2018 to 2024 -- On the basis of Types, the chronic sinusitis segment holds the largest share of the global sinusitis treatment market in 2017 due to growing number of chronic sinusitis patients with long-term blockage and inflammation condition -- Based on Age Group, the adults segment holds the major share of the global sinusitis treatment market -- Geographically, North America holds the major share of global sinusitis treatment market in 2017, due to growing incidence of sinusitis coupled with developments in sinus surgery in the region -- Key players in global sinusitis treatment market are Novartis AG., Zydus Cadila, Beximco Pharmaceuticals Ltd, Abbott Laboratories, Reddys Lab, Bristol-Myers Squibb, Bayer AG, Sun Pharmaceutical Industries Ltd., Eli Lilly, and Sanofi, among others
Advancement in Sinusitis Surgery Driving the Global Sinusitis Treatment Market
Sinusitis disease affects millions of people every year and is a major health problem across the globe. Sinusitis is the inflammation of the of the air cavities within the passages of the nose. It is generally caused by infection (bacteria, and viruses), chemical, allergies, and autoimmune problems. The purpose of sinus surgery is to remove the unhealthy sinus tissue and create a better pathway. The technological advancements (surgical laser technologies) in sinus surgery improve the patient’s life and have fewer side-effects. The technology uses a laser to remove the unwanted sinus tissue and provides relief from chronic sinusitis with less bleeding and pain.
Global Sinusitis Treatment Market- Regional Insight
Geographically, the global sinusitis treatment market is segmented into North America, Latin America, Europe, Asia-Pacific, and Middle East and Africa. North America holds the major share of the global sinusitis market due to growing incidence of sinusitis coupled with developments in sinus surgery in the region. Asia-Pacific region is expected to witness fastest growth rate during the forecast period owing to the growing awareness among people regarding the diagnosis and treatment of sinusitis, and increasing number of bacteria and viruses infections in the region.
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