Market Overview:
Paranasal sinus cancer is the rarest type of tumor that grows inside sinuses, the open spaces behind the nose. Paranasal sinus cancer is rare, and not much is known about the risk factors or the causes that lead to this disease. Researches carried out in the field suggest that being exposed to certain chemicals or dust in the workplace can increase the risk of paranasal sinus and nasal cavity cancer.
According to Market Research Future (MRFR), the global Paranasal Sinus Cancer Market is expected to account for a modest growth by 2023. In its recently published analysis, MRFR also asserts that the market would register approximately 5.2% CAGR throughout the forecast period (2018–2023). Advancements in medical technology is a major driving force.
Moreover, favorable healthcare expenditures boost the growth of the market. Substantial investments made in the R&D are fostering the market growth, bringing about advanced techniques to treat the paranasal sinus cancer. Increased funding from the public & private sector in the drug development field is providing impetus to the market growth. The availability of effective treatments acts as a significant tailwind driving the growth of the market.
On the other hand, stringent government regulation for product approval alongside the loss of patent protection for drugs are the major factors that are obstructing market growth. Also, heavy costs and surgical risks like heart attack, stroke, and blood clots associated with the treatment of this cancer is impeding the growth of the market.
Major Players:
• AbbVie
• Pfizer Inc
• Eli Lily and Company
• Bristol-Myers Squibb Company
• Hoffman-La Roche Ltd
• Becton
• Dickinson and Company
• Novartis AG
• Ipsen Biopharmaceuticals Inc
• Thermo Fisher Scientific
• Abbott
• G E Healthcare
• Agilent Technologies Inc
Paranasal Sinus Cancer Market – Segments:
The report is segmented into four market dynamics to widen the scope of understanding,By Diagnosis : Medical History, Physical Examination, Biopsy (fine needle aspiration (FNA), incisional, and excisional biopsies.), and Imaging Tests {X-rays, CT Scan (computed tomography scan), MRI Scan (magnetic resonance imaging scan), and PET Scan (positron emission tomography scan), others}, among others.
By Treatment : Surgery, Radiotherapy, and Chemotherapy, among others.
By End-user : Hospital & Clinics and Cancer Treatment & Research Center (radiotherapy, chemotherapy), among others.
By Regions : Europe, North America, APAC, and the Rest-of-the-World (RoW).
Paranasal Sinus Cancer Market – Regional Analysis:
North America leads the global paranasal sinus cancer market with the largest market share. Rising prevalence of this rare type of cancer, alongside, the well-developed healthcare sector and growing healthcare expenditure in the region drive the regional market growth. Moreover, well-developed technology and the presence of leading market players foster the growth of the regional market.
Europe is another lucrative market for paranasal sinus cancer, globally, which follows the North American market closely. The market in this region is fostered by the increasing number of patients suffering from the disease and the increased healthcare sector. Also, the availability of funds for research and growing healthcare expenditure push up the growth of the regional market. Moreover, the growing paranasal sinus cancer markets in countries such as the UK, Germany, and France drive the regional market growth at a large scale.
The Asia Pacific paranasal sinus cancer market is emerging as a rapidly growing market. Factors such as the improving economic conditions and increasing government funding for healthcare sector drive the regional market growth. Moreover, the availability of cost-competitive procedures and drugs to treat the disease effectively in the already growing markets of India and China will lead the regional market.
Besides, the vast patient population suffering from the paranasal sinus cancer are increasing the size of the regional market. Furthermore, the research and development expenditures provided by the public & private associations and amendments in reimbursement of healthcare policies are expected to foster the market growth in the APAC region.