Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
IN THE NEWS· August 6, 2020: Novartis AG announced the approval of Xolair as an add-on therapy with intranasal corticosteroids for the treatment of rhinosinusitis with nasal polyps.
· October 18, 2019: F. Hoffmann-La Roche Ltd, announced FDA approval of Xofluza to treat lung diseases, asthma, and chronic rhinosinusitis
The global acute sinusitis treatment market is estimated to garner a ~9% CAGR over the forecast period, i.e., 2022–2030. The growth of the market can be attributed to the increasing cases of acute sinusitis backed by unhealthy lifestyle, and habits, such as, smoking. Around 25-40 out of every 1000 individual suffer from acute sinusitis, every year, globally. It is more common in adults that children. Chronic sinusitis affects 12-15% of the population. Acute sinus can be caused by bacterial, viral, or fungal infections, or due to the presence of polyps and nasal tumors. It causes extreme discomfort, headache, breathing issues, cough, and nasal congestion, which increases the demand for effective treatment to provide immediate relief as well as long term cure. The increasing demand for better treatment solutions for acute sinusitis is estimated to boost the market growth.
The global acute sinusitis treatment market is segmented by diagnosis into nasal endoscopy, imaging test, and others, out of which, the imaging test segment is anticipated to hold a notable share in the market during the forecast period on account of high accuracy of imaging test, such as, CT scan, and MRI. The market is segmented by treatment into saline nasal spray, corticosteroid spray, oral decongestant therapy, sinus dilation devices, medications, and surgery. Out of these, the saline nasal spray segment is anticipated to garner a significant share during the forecast period owing to their easy availability at drug stores, and affordable prices. On the other hand, the medication segment is also estimated to gain significant share, on the back of its effectiveness in relieving acute sinus in a short time. CLICK TO DOWNLOAD SAMPLE REPORT
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Regionally, the global acute sinusitis treatment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region holds the leading share currently, and is estimated to generate highest revenue over the forecast period on the back of high prevalence of sinusitis in the region, due to the colder climatic conditions, and unhealthy lifestyle. Over 28 million adults were diagnosed with sinusitis in the United States, in 2020. Moreover, the increasing government investment in healthcare sector and favorable medical reimbursement policies are estimated to boost the regional market growth. According to the World Health Organization (WHO), as of 2018, 16.416 % of the GDP was spent on the healthcare sector in North America.
The market in the Asia Pacific is estimated to witness notable growth over the forecast period accounting to the increasing cases of respiratory diseases, due to the increasing pollution in major cities, such as, Shanghai, Hotan, Delhi, Kathmandu, and Kabul, among others. Moreover, increasing investment in public healthcare system is estimated to boost the market growth in the region.
The global acute sinusitis treatment market is further classified on the basis of region as follows:
Our in-depth analysis of the global acute sinusitis treatment market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Rising prevalence of sinusitis and growing R&D investment for medical research are the major factors driving the market growth.
The market is anticipated to attain a CAGR of ~9% over the forecast period, i.e., 2022-2030.
Distribution of generic drugs in the market is one of the major factors estimated to hamper the market growth.
The market in the North America is estimated to provide most growth opportunities owing to the high cases of sinus, increasing healthcare expenditure, and R&D investment in the region.
The major players in the market are Novartis AG, F. Hoffmann-La Roche Ltd., Amgen Inc., Cerecor, Inc., Bausch Health Companies Inc., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by diagnosis, treatment, end-user, and by region.
The imaging test segment is anticipated to hold a notable market share over the forecast period on the back of accurate and more precise diagnosis provided by imaging tests.
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