Market Overview
Market Research Future (MRFR) estimates the global paranasal sinus cancer market to garner a CAGR of 5.2% during the assessment period of 2018–2023.
Paranasal sinus cancer is an extremely rare case of cancer in which cells of the paranasal sinuses and nasal cavity develop malignancy. Dust and certain chemical agents in the air can cause paranasal sinuses cancer. Increase in air pollution and growing prevalence of chronic disease among people can spur the risk of developing paranasal sinuses cancer. These factors can fuel the paranasal sinus cancer market. The rise in geriatric population is another factor identified to boost the market growth. According to the American Cancer Society, 4 out of 5 paranasal sinus cancer cases are of atleast 55 years old.
Collaboration strategies can have powerful impact on the market growth. For example, in 2018, development and marketing of digital clinical decision support solutions, was the outcome of GE Healthcare’s partnership with Roche Diagnostics.
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Key Players
Important companies operating in the market are AbbVie, Inc., Pfizer Inc., Eli Lilly & Company, Novartis AG, Ipsen Biopharmaceuticals Inc, G E Healthcare, Agilent Technologies Inc., AstraZeneca, Boehringer Ingelheim International GmbH, Bristol-Myers Squibb Company, F. Hoffman-La Roche Ltd., Abbott, Becton, Dickinson & Company, Thermo Fisher Scientific, and Bayer AG.
Segments Analysis
MRFR’s segmental analysis of the paranasal sinus cancer offers a comprehensive insight into the market that allows our esteemed clients to develop growth strategies, identifying new scope for the market expansion. The global paranasal sinus cancer market study has been segmented into diagnosis, treatment, and end user.
Based on the diagnosis, the market study has been segmented into physical examination, imaging tests, biopsy, medical history, and others. The imaging tests segment has been further classified into X-rays, CT scan, MRI scan, and PET scan. The biopsy segment is sub-segmented into fine needle aspiration (FNA) biopsy, and incisional and excisional biopsies.
Based on the treatment, the market study has been segmented into radiotherapy, surgery, and chemotherapy. Based on the end user, the market study has been segmented into hospitals and clinics, research laboratories, cancer treatment and research centers, and others.
In June 2018, ARMO Biosciences was taken over by Eli Lilly for USD 1.6 billion for expanding its oncology portfolio that backed support for its oncology portfolio. Hence, these instances demonstrate that collaborations can create immense scope for new innovation. Therefore, new product launches is a significant cause that can bolster the paranasal sinus cancer market growth.
Expensive treatment for paranasal sinus cancer and strict rules governing new product approval are certain causes which can restraint the market growth.
Regional Insights
A vivid understanding of the regional paranasal sinus cancer market activities can be derived from the regional analysis of the market. Based on the region, the market has been segmented into America, Europe, Asia Pacific, and the Middle East.
The North American paranasal sinus cancer market is expected to be at the forefront owing to the increase in rare cancer and chronic disease cases in the region. Excellent medical infrastructure and increase in medical expenses are other factors which can amplify the regional market growth.
Increase in cases of people suffering from chronic diseases, government funding, and firm medical infrastructure in Europe, the paranasal sinus cancer market is anticipated to exhibit a robust growth, securing the second largest market size in the near future.
Government in the Asia Pacific region are keen in taking initiatives to improve healthcare facilities which is predicted as a major cause that can propel the regional market. hike in disposable income and growing prevalence of chronic diseases are other factors which can fuel the regional paranasal sinus cancer market growth.
MRFR predicts that the paranasal sinus cancer market in the Middle East Asia and Africa is expected to exhibit static market growth.
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