ANOSMIA MARKET ANALYSIS

Anosmia, a smell blindness, is the loss of the ability to smell. Anosmia may be temporary or permanent. Anosmia is regarded as a rare condition, but probably more common than many people think.  According to the Fifth Sense, U.K., in 2020, various studies and survey performed in number of countries suggests that prevalence of smell loss worldwide is 0.1% to over 5%.

Global Anosmia Market – Impact of Coronavirus (COVID – 19) Pandemic

The COVID-19 pandemic is expected to hamper the global anosmia market growth during the forecast period. The COVID-19 pandemic and resulting lockdowns in various countries across the globe have impacted the financial status of businesses in all sectors. The private healthcare sector has been impacted majorly due to the COVID-19 pandemic. The shutdown has disrupted the supply, distribution, and manufacture of medical supplies globally.

Furthermore, the coronavirus pandemic has hampered the development, clinical trials, production, and supply of drugs and other healthcare products and also have affected growth of the healthcare businesses of various companies across the globe. According to the Indian Journal of Medical Sciences, June 6, 2020, the COVID-19 pandemic has affected the conduction of clinical trials due to unavailability of trial site staff, restrictions for travelling, investigational product availability, and others. As a result, the impact of the COVID-19 pandemic is expected to limit growth of the market during the forecast period.

The global anosmia market is estimated to be valued at US$ 2,500.7 million in 2020 and is expected to exhibit a CAGR of 6.7% during the forecast period (2020-2027).

Figure 1: Global Anosmia Market Share (%) Analysis, By Type, 2020

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Increasing incidence of anosmia is expected to drive growth of the global anosmia market during the forecast period.

Rising anosmia cases is expected to drive the anosmia market growth over the forecast period. For instance, according to an article published by the ENT UK at The Royal College of Surgeons of England in 2020, reports that novel COVID-19 virus causes anosmia in infected patients.

Moreover, the same source, ENT UK at The Royal College of Surgeons of England in 2020, also reports that 30% of patients in South Korea, had anosmia. Similarly, according to the same source in Germany it is reported that more than 2 in 3 confirmed cases have anosmia.

Global Anosmia Market – Restraints

Lack of approved drugs or therapeutics for the anosmia is the major factor that is expected to hinder the market growth. Currently, decongestants, antihistamines, and steroid nasal sprays are used off label for the treatment of the anosmia. 

Global Anosmia Market – Regional Analysis

On the basis of region, the global anosmia market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa.

North America is expected to dominate the global anosmia market during the forecast period, owing to increasing anosmia cases in the region. For instance, according to an article published by the National Center for Biotechnology Information (NCBI) in 2017, reports that anosmia affects 3.2% (3.4 million people) of U.S. adults, who are aged above 40 years.    

Figure 2: Global Anosmia Market Value (US$ Mn), by Region, 2020

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Global Anosmia Market - Competitive Landscape

Some of the key players operating in the global anosmia market include Mylan N.V., Pfizer Inc., Atom Pharma, RANBAXY LABORATORIES LIMITED, Alde Medi Impex, GlaxoSmithkline plc, Sandoz (Novasrtis AG), Inke S.A., Taj Pharmaceuticals Limited, and Sanofi, amongst others.