Anosmia Treatment Market Size to Expand Lucratively during the Forecast Period

Anosmia Treatment: Introduction

  • Anosmia is the partial or complete loss of sense of smell. This loss could be temporary or permanent. Common conditions that irritate the nose’s lining, such as allergies or a cold, can lead to temporary anosmia.

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Key Drivers of Global Anosmia Treatment Market

  • The global anosmia treatment market is projected to witness significant growth in the next few years owing to rise in prevalence of anosmia. The number of people seeking anosmia treatment is quite high in developed countries. However, increase in health care expenditure has spurred the demand for anosmia treatment in developing countries such as China and India.
  • A number of conditions can cause anosmia such as old age, Alzheimer’s disease, brain tumor, Huntington’s disease, hormonal problems, diabetes, and brain stroke
  • Diabetes is one of the most common chronic conditions affecting millions of people across the world. Changing lifestyles and lack of proper dietary habits are the major factors for rise in prevalence of diabetes, especially in the emerging economies. The global prevalence of diabetes in 2019 is estimated to be 9.3% and is expected to reach 10.2% by 2030.
  • According to the World Health Organization, the global geriatric population was around 524 million in 2010 and is anticipated to reach 1.5 billion by 2050. Moreover, the world is aging at a rapid pace, especially the developed countries such as the U.S., Germany, and Japan.

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Idiopathic Anosmia to be Highly Attractive Segment

  • In terms of type, the global anosmia treatment market can be classified into idiopathic anosmia and congenital anosmia
  • The idiopathic anosmia segment is expected to account for major share of the global anosmia treatment market by 2031 due to high incidence of idiopathic anosmia

Medications to be Highly Lucrative Segment

  • Based on treatment, the global anosmia treatment market can be bifurcated into therapies and medications. The therapies segment can be split into nasal endoscopy and imaging.
  • The medications segment is likely to account for major share of the global anosmia treatment market by 2031 owing to high usage of medications such as decongestants, antihistamines, and steroid nasal sprays for the treatment of anosmia.

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Hospitals to be Highly Attractive Segment

  • In terms of end-user, the global anosmia treatment market can be categorized into hospitals, specialty clinics, and others
  • The hospitals segment is projected to account for major share of the global anosmia treatment market by 2031 due to rise in demand for anosmia treatment in hospitals, which offer favorable reimbursement and developed infrastructure

North America to Offer Significant Opportunities in Anosmia Treatment Market

  • In terms of region, the global anosmia treatment market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • The market in North America is anticipated to grow at a rapid pace, as several large and small companies are involved in overall clinical trials. The market in Russia, China, and other emerging economies is also expected to witness strong growth owing to the approval of drugs that can be used for anosmia treatment.

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Key Players Operating in Global Anosmia Treatment Market

The global anosmia treatment market is semi-consolidated, with the presence of international and local players. Key players operating in the global anosmia treatment market are:

  • Mylan N.V
  • Pfizer, Inc.
  • Atom Pharma
  • Ranbaxy Laboratories Limited
  • Alde Medi Impex
  • GlaxoSmithkline plc
  • Sandoz (Novartis AG)
  • Inke S.A.
  • Taj Pharmaceuticals Limited
  • Sanofi

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