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Global Polyps Market Can Soar High with 9.2% CAGR During the Forecast Period (2019-2023): MRFR
Mucus membrane’s abnormal growth is known as a polyp. It is most commonly found in colon, stomach, nose, ear, sinus, urinary bladder, uterus, and other parts where mucus membrane exists. Mostly non-cancerous, the polyp can turn into a cancerous cell with allowed growth. The risk of getting cancer goes higher with growth. But what makes it truly problematic is its tendency to avoid detection. Timely screening can only help in detecting symptoms. The global Polyps Market Share can experience a robust 9.2% CAGR during the forecast period (2017-2023) to reach an astonishing USD 18.3 billion market valuation, claims Market Research Future (MRFR) in a report that has its focus on in-depth segmental analysis and chief driving factors. Rising geriatric population, growth in screening due to increasing awareness regarding polyp can have a definitive impact on the polyps market.
On the flip side, polyp surgery has its risk such as excessive bleeding and infection during surgery which leads many towards minimally invasive surgeries. But this often incurs more cost. Furthermore, cost is always a concern in developing countries which could bog down the polyps market. Polyp recognition is also necessary. As it remains mostly dormant, it can hold back the expected polyps market growth.
The intense polyps market is experiencing several tactical moves implemented by major market influencers. Strategies would include mergers, acquisitions, collaborations, and other methods. For instance, Medtronic is planning to acquire Smith & Nephew’s gynecology business as a part of their endeavor to make their procedures less invasive.
Key players profiled in the report are Medtronic, B. Braun Melsungen AG, Cook Medical, Endo Pharmaceuticals Inc., Pfizer Inc., Novartis AG, Millennium Surgical Corp., Black Smith Surgical, Teva Pharmaceutical Industries Ltd., Mylan Inc., Sun Pharmaceuticals and others.
The global polyps market can be segmented on the basis of stage, types, diagnosis, surgery and end users.
Stage-wise, the polyps market includes benign and pre-malignant.
Based on types, the polyps market can be segmented into digestive polyps, endometrial polyp, cervical polyp, nasal polyps, laryngeal polyps and pre-malignant.
Diagnosis-based segmentation of the polyps market includes occult blood & stool test, colonoscopy, sigmoidoscopy, double contrast barium enema, computed tomography, and others.
Based on treatment, the polyps market comprises drugs and surgery. Drugs can be further segmented into hormonal drugs, painkillers and others and surgery can be sub-segmented into polypectomy, minimally invasive surgery, colon and rectum removal, and others.
Based on the end-users, the polyps market includes hospitals & clinics, academic and research, and others.
Geographical analysis of the polyps market includes regions namely the Americas, Europe, Asia Pacific (APAC), and the Middle East & the Africa (MEA).
The Americas are the market frontrunners. With a substantial amount of revenue, the Americas is dominating the global polyps market. This superiority can be attributed to its premium healthcare infrastructure and implementation of world-class technology, along with significant healthcare investment.
Europe is doing great by increasing its expenditure on government funding for research and development. Healthcare market has penetrated well in Europe, and high disposable income is giving the sector much to cheer. The segment has proliferated well and is founding further success on gains made by the healthcare sector.
The APAC, with a revamped healthcare sector, is showing much promises for further growth. The regional market is galloping fast on the industrial success of emerging economies such as China and India.
The MEA market can bank on the U.A.E. and Saudi Arabia’s infrastructural superiority. However, the African region can stumble a lot due to the presence of several poor economies in the region.