Anosmia Market 2023 Key Vendors, Analysis by Growth and Revolutionary Opportunities by 2032

The global anosmia market size was valued at USD 2,700 million in 2021 and is projected to reach around USD 4,500 million in 2030 exhibiting a CAGR of 7.0% in the forecasted period. The growing incidence of anosmia and increasing research activities by the market players & research organizations are among the major factors boosting the industry growth. Conversely, dearth of approved drugs or therapeutics for anosmia acts as the hindrance in the anosmia market in the forecasted period.

The growing incidence of anosmia cases is anticipated to drive the global anosmia market during the forecasted period. Anosmia is a partial or total loss of sense of smell. For example, an article issued by the ENT UK at The Royal College of Surgeons of England in 2020, accounts that the latest COVID-19 virus causes anosmia in diseased patients. Besides, the same source, ENT UK at The Royal College of Surgeons of England in 2020, also states that 30% of patients in South Korea, had anosmia. Likewise, as per the same source in Germany, it is stated that over 2 in 3 confirmed cases have anosmia. In the United States, 3% of people aged more than 40 are affected by anosmia.

Moreover, increasing research activities for new drug developments is projected to boost the global Anosmia market during the forecasted period. Increasing research activities by the market players to grow an advanced treatment for anosmia is estimated to drive the global anosmia market growth over the forecasted period. For example, in June 2019, Washington University School of Medicine, initiated the Phase II study, to estimate the efficiency and security of Budesonide in patients with coronavirus smell therapy for anosmia recovery. The study is anticipated to complete in December 2023. For example, ClinAmygate developing for Anosmia and/or Ageusia in COVID-19 Treatment with Early Corticosteroid (Dexamethasone) and Recovery is in Phase 4 clinical trials which will upsurge the need for the anosmia market.

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The covid-19 pandemic outburst has boosted the need to estimate the anosmia market to treat Covid-19 infections. Chemosensory disorders like loss of smell or taste, are the utmost neurological symptom of COVID-19. Above 80% of COVID-19 patients display some change in chemesthesis, containing smell. Anosmia has also been more common of COVID-19 than all other indications, including cough or fatigue, fever, based on a survey of 2 million members in the UK and US. Google examines for "smell," "loss of smell," "anosmia," and other similar terms growing as the early months of the pandemic and intensely correlated with upsurges in daily cases and deaths. Examination into the mechanisms underlying these indications is presently enduring. Several nations already listed anosmia as an official COVID-19 symptom, and some have established "smell tests" as possible screening tools. For example, in 2020, the Global Consortium for Chemosensory Research, a collective research organization of global smell and taste researchers, was designed to examine the loss of smell and related chemosensory signs.

Type Insights
Based on the type, the global anosmia market is bifurcated into idiopathic anosmia, congenital anosmia. Idiopathic anosmia denotes to patients in whom, after extensive analysis, no cause for the loss of sense of smell is established. This diagnosis must be prepared only after blood tests and brain scans have been completed. Patients in this group may go on to grow Parkinson's and Alzheimer's diseases. For example, an article issued by the Fifth Sense in 2020 reports that between the familiar smell loss disorders, idiopathic anosmia holds around 25%, and congenital anosmia holds a share of 1% in the U.K.

Congenital anosmia is an unusual type, some people are born lacking a sense of smell, which is a disorder called congenital anosmia. It occurs when there is either an inherited genetic disorder or abnormal development of the olfactory system (the body's sensory system for smell) occurring before birth. But there is no medication for congenital anosmia.

Treatment Type Insights
Based on the treatment type, the global anosmia market is segmented into treatments, medicines, and others. The medicines segment accounts for the major share of the market. Decongestant's medicines work by instigating blood vessels to limit and help to release congestion caused by the enlargement of blood vessels in the nasal channels. Phenylephrine and phenylpropanolamine are two common drug formulas. These OTC drugs can bring momentary relief from congestion.

Antihistamines work by declining the effects of histamine on specific cell receptors. First-generation OTC oral antihistamines, containing diphenhydramine and chlorpheniramine. Nasal corticosteroids relieve congestion by deteriorating the swelling in the nose. Unlike inhaled corticosteroids used for asthma, nasal versions are sprayed straight into the nasal passages. Nasal corticosteroids are generally accessible in spray form. They're also presented as aerosol liquids and powders. For example, the University of Anbar developed a drug to analyse the effect of nasal steroids in considering anosmia due to COVID-19 disease by drug Ophtamesone is in early phase 1 trial.

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End User Insights
Based on end-user, the global anosmia market is segmented into hospitals, clinics, others. Owing to the rising patient population, the hospital's segment held the leading market share. This is mostly owing to the growing number of patients suffering from situations that are treated in hospitals prepared with advanced substructure and adequate amenities. Furthermore, the rising number of hospitals along with proper reimbursement policies is also donating to the growth of this segment. Also, the surgery is done under the administration of medical practitioners at these situations.

Region Insights
North America served the major share in the global anosmia market over the forecasted period, due to growing cases of anosmia in the region. For example, an article issued by the National Center for Biotechnology Information (NCBI) in 2017 accounts that a substantial portion, i.e., about 4.3 million people, 65 years or older, suffer from anosmia U.S. The presence of an extremely established healthcare system, the high grade of approval by medical practitioners of latest treatments, the total accessibility of innovative technological tools, FDA authorization of novel drugs. For example, Washington University School of Medicine directing a Phase 2 study of Smell in Covid-19 and Efficacy of Nasal Theophylline is anticipated to complete by 2021.

However, the Asia Pacific is anticipated to be the fastest-growing market during the forecasted period due to the growing prevalence rate, surging focus on preventive care, and government initiatives encouraging technological innovations.

Key Companies Insights
The market for anosmia is moderately competitive. With the rising applications of anosmia, new players are considering to enter the market. The companies are also involved in events like joint ventures, acquisitions, partnerships, mergers, and collaborations. These activities aid in growing the effect of the players in the anosmia market, ultimately boosting the market growth.

Some of the key companies working in the global anosmia market include:
• Mylan N.V.
• Pfizer Inc.
• Atom Pharma
• Ranbaxy Laboratories Limited
• Alde Medi Impex
• GlaxoSmithKline plc
• Sandoz (Novartis AG)
• Cadila Pharmaceuticals
• Taj Pharmaceuticals Limited
• Sanofi
• Other players

Some of the Recent Developments:
• In June 2020, Cadila Pharmaceuticals Limited introduced Bilastine syrup (30 ml) and Bilastine tablets (20 mg), an antihistamine drug. This drug is utilized in the treatment of allergic rhinitis, which later develops anosmia.
• In 2020, Pfizer partnered with BioNTech to examine and grow COVID-19 mRNA vaccine candidates. On July 27, 2020, the firms started a global (except China) Phase 2/3 safety and efficiency clinical study to estimate the mRNA vaccine candidate BNT162b2. The corporations plan to use Pfizer facilities to produce the vaccine if they get FDA approval.

Segments
By Type
• Idiopathic Anosmia
• Congenital Anosmia

By Treatment Type
• Therapies
o Nasal Endoscopy
o Imaging
• Medications
o Decongestants
o Antihistamines
o Steroid
o Nasal Sprays
• Others

By End User
• Hospitals
• Clinics
• Others
By Geography
• North America
o U.S.
o Canada
o Mexico
• Europe
o U.K.
o Germany
o France
o Italy
o Spain
o Russia
• Asia-Pacific
o Japan
o China
o India
o Australia
o South Korea
o ASEAN
• Latin America
o Brazil
o Argentina
o Colombia
• MEA
o South Africa
o Saudi Arabia
o UAE
o Egypt

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An Overview of the Impact of COVID-19 on Market: The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic. We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.

Key Questions Answered in the Report:
● What will be the development pace of market? What is the growth rate of the global market?
● Who are the key manufacturers in the market space? Who are the world's leading manufacturers?
● What are sales, revenue, and price analysis of the top manufacturers of market?
● Who are the distributors, traders, and dealers of market? What are the key factors driving the Global market?
● What are the market opportunities and threats faced by the vendors in the industries?
● What are deals, incomes, and value examinations by types and applications of the market?
● What are the primary factors driving market?
● What are the market's advantages, disadvantages, and risks, as well as an overview of the market?
● Who are the Top Manufacturers in the Market in Terms of Sales, Revenue, and Price Analysis?
● Analysis of Industry Revenue, Sales, and Pricing, what is the difference between Equipment by region, type, and application?

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