Anosmia Market Report 2024

The anosmia market size has grown strongly in recent years. It will grow from $3.24 billion in 2023 to $3.55 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. The increase observed during the historic period can be linked to the rising number of anosmia cases, the surge in research grants and activities focused on developing drugs for anosmia, a growing demand for healthcare, and intensified research efforts in drug development for anosmia.

The anosmia market size is expected to see strong growth in the next few years. It will grow to $5.15 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%.The projected growth in the forecast period is driven by the rising prevalence of chronic diseases, greater funding from both private and government sources, advancements in pharmaceutical manufacturing, heightened research and development efforts for drugs, and improved therapeutics for anosmia. Key trends anticipated during this period include technological innovations, enhanced treatments for anosmia, increased financial support from various organizations, and progress in pharmaceutical manufacturing techniques.

The increasing prevalence of neurological disorders is anticipated to drive the growth of the anosmia market in the future. Neurological disorders cover a wide range of conditions affecting the nervous system, including the brain, spinal cord, and peripheral nerves. This rise is attributed to an aging population and the higher occurrence of chronic diseases such as diabetes and hypertension. These disorders can lead to anosmia by impairing the olfactory pathways or brain regions involved in smell processing, resulting in a diminished ability to detect or perceive odors. For example, the Alzheimer's Association reported in 2021 that around 6.2 million Americans aged 65 and older were living with Alzheimer's dementia, a neurological condition. By 2050, this figure is expected to increase to 12.7 million in the same age group. Consequently, the growing number of neurological disorders is fueling the expansion of the anosmia market.

Key players in the anosmia market are concentrating on creating innovative solutions, such as smell training kits, to offer effective and non-invasive treatments for individuals experiencing loss of smell. These kits are designed to help users improve or recover their sense of smell, particularly after losing it due to causes such as viral infections or head injuries. For instance, in March 2022, Gousto, a meal kit provider based in the UK, introduced the Flavor Savior smell training kits. These kits aim to help individuals who have lost their sense of smell and taste due to anosmia by stimulating their smell receptors and aiding in the recovery of these senses.

In November 2023, the UK-based charity Fifth Sense collaborated with ENT UK to enhance the care for individuals with smell and taste disorders. This partnership is focused on supporting both patients and healthcare providers dealing with conditions such as anosmia. ENT UK is a professional membership organization representing the field of ear, nose, and throat surgery in the UK.

Major companies operating in the anosmia market are Pfizer Inc., Johnson & Johnson, F. Hoffmann-La Roche AG, Merck & Co. Inc., AbbVie Inc., Bayer AG, Sanofi SA, Bristol-Myers Squibb and Company, AstraZeneca plc, Abbott Laboratories, Novartis AG, GlaxoSmithKline PLC, Takeda Pharmaceutical Company Limited, Eli Lily and Company, Gilead Sciences Inc., Viatris Inc., Teva Pharmaceutical Industries Ltd., Regeneron Pharmaceuticals Inc., Biogen Inc., Astellas Pharma Inc., Sun Pharmaceutical Industries Ltd., Torrent Pharmaceuticals Ltd., Aurobindo Pharma Limited, Cipla Inc., Alphapharm Pty. Ltd., Alde Medi Impex Ltd.

North America was the largest region in the anosmia market in 2023. Asia-Pacific is expected to be the fastest-growing region in the market going forward. The regions covered in the anosmia market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the anosmia market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Anosmia is a medical condition characterized by either a complete or partial loss of the sense of smell. This condition can arise from various factors affecting the olfactory system, such as nasal congestion, nasal polyps, neurological disorders, head injuries, viral infections, or exposure to certain chemicals or medications. Anosmia can be either temporary or permanent and may affect one or both nostrils. It typically diminishes the ability to detect or identify odors, which can impact the sense of taste and overall quality of life.

Anosmia is primarily categorized into idiopathic anosmia and congenital anosmia. Idiopathic anosmia denotes a loss of smell with no identifiable cause, even after extensive medical evaluation and diagnostic testing. Treatments for anosmia may include therapies and medications, with several healthcare providers, including hospitals and clinics, being involved in the management of the condition.

The anosmia market research report is one of a series of new reports that provides anosmia market statistics, including the anosmia industry global market size, regional shares, competitors with anosmia market share, detailed anosmia market segments, market trends, and opportunities, and any further data you may need to thrive in the anosmia industry. These anosmia market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The anosmia market consists of revenues earned by entities by providing services such as olfactory testing and imaging, medical consultations, therapeutic services, medication management, rehabilitative services including psychological support and nutritional counseling. The market value includes the value of related goods sold by the service provider or included within the service offering. The anosmia market also includes sales of diagnostic tools, medical devices, and nasal sprays. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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