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The anosmia market has seen significant growth in recent years, expanding from $3.24 billion in 2023 to $3.55 billion in 2024 at a compound annual growth rate (CAGR) of 9.5%. This increase has been fueled by a rising incidence of anosmia cases, more research grants, and growing research activities for anosmia drug development. The demand for healthcare services and treatments for anosmia has also contributed to this growth. Looking to the future, the anosmia market is expected to reach $5.15 billion by 2028, growing at a CAGR of 9.8%. This growth can be attributed to the rising prevalence of chronic diseases, increased funding from both private and government organizations, advancements in pharmaceutical manufacturing, and a rise in R&D activities for anosmia therapies. Key trends for the upcoming period include technological advancements in treatment, an increase in funding, and the development of advanced pharmaceutical manufacturing processes.

The rising incidence of neurological disorders is expected to propel the growth of the anosmia market going forward. Neurological disorders encompass a broad range of conditions that affect the nervous system, including the brain, spinal cord, and nerves throughout the body. The rising incidence of neurological disorders is due to an aging population and the increased prevalence of chronic diseases such as diabetes and hypertension. Neurological disorders can cause anosmia by damaging the olfactory pathways or regions in the brain responsible for processing smell, leading to a loss of the ability to detect or perceive odors. For instance, in 2021, according to the Alzheimer’s Association, a US-based non-profit voluntary health organization, in the United States, approximately 6.2 million Americans aged 65 and older are currently living with Alzheimer’s dementia, a neurological disorder. By 2050, this number will rise to 12.7 million among individuals aged 65 and older. Thus, the rising incidence of neurological disorders is driving the growth of the anosmia market, with significant growth anticipated through 2024 and continuing into 2028.

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What Are The Key Trends That Influence Anosmia Market Share Analysis?

Major companies operating in the anosmia market are focusing on developing innovative products, such as smell training kits, to provide effective and non-invasive treatment options for individuals suffering from loss of smell. Smell training kits are sets of materials designed to help individuals improve or regain their sense of smell, especially after experiencing conditions like anosmia (loss of smell) due to various causes such as viral infections or head trauma. For instance, in March 2022, Gousto, a UK-based meal kit manufacturer, launched Flavor Savior smell training kits to help people who lost their sense of smell and taste due to anosmia. The kits are aimed at assisting people to fall back in love with food by stimulating the smell receptors and supporting the recovery of their sense of smell and taste.

How Is The Global Anosmia Market Segmented?

1) By Type: Idiopathic Anosmia; Congenital Anosmia
2) By Treatment: Therapies; Medications
3) By End User: Hospitals; Clinics; Other End Users

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The Anosmia Global Market Report 2024 provides an overview of the anosmia market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The anosmia market forecast analyzes anosmia market size, anosmia market share, leading competitor and their market positions.

The Table Of Content For The Anosmia Market Include:

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