Chronic Smell and Flavor Loss Treatment Market

Chronic Smell and Flavor Loss Treatment Market Snapshot (2023 to 2033)

The global chronic smell and flavor loss treatment market is currently valued at USD 3146 Million in 2023 and is anticipated to expand at a CAGR of 6.4%. Owing to the technological advances in healthcare the market is likely to propel to USD 5850.2 Million by 2033.

The chronic smell and flavor loss treatment market is anticipated to show positive growth, mainly attributed to the increasing incident cases and also, the launch of upcoming therapies during the forecast period

Report Attribute	Details
Expected Market Value (2023)	USD 3,146 Million
Projected Forecast Value (2033)	USD 5,850.2 Million
Global Growth Rate (2023 to 2033)	6.4% CAGR

Chronic Smell and Flavor Loss Treatment Market Revenue Analysis 2017 to 2022 vs. Future Outlook 2023 to 2033

The chronic smell and flavor loss market is expected to gain market growth in the forecast period of 2023 to 2033. Latest market analysis by FMI the market is to grow at a CAGR of 6.4% in the above-mentioned forecast period.

Symptoms for chronic smell and flavor loss can range from not being able to smell or taste at all to the reduced ability to smell or taste specific things that are sweet, sour, bitter, or salty. In some cases, normally pleasant tastes or smells may become unpleasant.

An increase in the prevalence of COVID-19-related consequences, such as olfactory disorders, prompted a massive research effort among olfactory scientists. This would promote intervention development in the chronic smell and flavor loss treatment market.

Treatments for smell disorders, and proven effective treatments are only available where nasal illnesses cause smell disorders. The emphasis is usually on surgical treatment (polypectomy, pansinus procedures) and corticosteroid administration.

The loss of taste and smell affected millions of Americans each year even before the COVID pandemic. The most common taste and smell disorders are Anosmia, Hyposmia, Hypogeusia, and Ageusia. The global chronic smell and flavor loss treatment market rose at a CAGR of 6.1% from 2018 to 2022.

What Market Trends Are Influencing the Chronic Smell and Flavor Loss Treatment Market?

The increasing incidence of chronic smell and flavor loss is expected to drive the growth of the market during the forecast period.

Rising cases of flavor loss post-COVID are expected to drive the chronic smell and flavor loss market growth over the forecast period. Growing awareness due to the ongoing COVID-19 crisis and the speculated success of the sole pipeline candidate, in the long run, is expected to impact the chronic smell and flavor loss treatment market in the coming years.

The development of disease-specific therapies for chronic smell and flavor loss will bode well for market growth. For instance, CYR-064 compositions comprise phosphodiesterase (PDE) inhibitors formulated for intranasal administration. The major mechanism underlying all pathologies responsible for smell and flavor loss is similar. It involves inhibition of stem cell activation, which usually occurs by the action of adenylyl cyclase III through cAMP and cGMP. It is expected to enter the USA market by 2025.

Modern Medicine's Approach to Treat Chronic Smell and Flavor Loss Market

The number of activities involved in research and development has increased over the past few years. Furthermore, the expansion of the market is largely due to the increased participation in research and development activities in the market. As a result, the chronic smell and flavor loss market will have many opportunities for growth in the future. Drug approvals and launches will continue to drive the market's growth.

Chronic smell and flavor loss treatment market growth will also be positively impacted by increased investment in modern technologies and the emergence of new markets. In recent years, there has been a great deal of progress in understanding immunological mechanisms behind anosmia disease, as well as a great deal of progress in identifying loss of sense, which may lead to new therapeutic approaches.

Which Factors Are Restraining the Growth of the Chronic Smell and Flavor Loss Treatment Market?

Lack of Drug Approval May Hamper the Market Growth

Despite a positive growth trajectory, the global chronic smell and flavor loss treatment market is facing various challenges that are likely to pose a threat to its growth during the forecast period.

The lack of approved drugs or therapeutics for chronic smell and flavor loss is the major factor that is expected to hinder market growth. Drug failures (termination) in clinical trials as well as the development of new drugs are challenging tasks that are anticipated to impede the growth of the market in the near future.

Country-Wise Insights

What Makes the USA an Attractive Market for Chronic Smell and Flavor Loss Treatment?

Advancement in Healthcare to Boost the Market Growth in Region

The market in the North American region is anticipated to observe vibrant growth during the forecast period 2023 to 2033. This can be attributed to the growing developments in the healthcare sector as a result of rising research and development activities in this industry. The region is expected to hold the highest CAGR of 6.4% during the forecast period.

The increasing initiatives taken by various research institutes and organizations for improving medical facilities and services are further leading to market growth.

The Centers for Disease Control and Prevention, a prominent public health institute in the USA, provided grant funding for a large number of healthcare initiatives in the region in 2018. The initiative such as vaccines for children and chronic disease prevention & health promotion received the highest portion of resources with 50.87% and 10.07% of a total of USD 7,496,307,789 respectively.

This was followed by HIV/AIDS, viral Hepatitis, STI & TB prevention which received 9.82% as well as injury prevention and control with 5.66% of the funds. The growing number of health disorders and rising demand for improved treatment and preventive measures have led to technological advancements in the medical industry.

How will the Chronic Smell and Flavor Loss Treatment fare across Europe?

Increasing Prevalence of Chronic Smell and Flavor Loss in Region to Drive the Market Growth

According to estimates, the European region is expected to dominate the market. The revenue generated from this region accounts for 37.5% of the total revenue generated worldwide. Many people in the region suffer from smell loss, which accounts for the region's dominance in the chronic smell and flavor loss treatment market.

Among the European countries, Germany had the highest number of prevalent cases of Chronic smell and flavor loss, followed by Italy in 2021. On the other hand, Spain had the lowest number of prevalent cases, with nearly 15.5 million cases in 2021.

Rising research activities by the market players to develop a novel treatment for chronic smell and flavor loss are expected to drive the global chronic smell and flavor loss treatment market growth over the forecast period. For instance, in June 2019, Washington University School of Medicine, initiated the Phase II study, in order to evaluate the efficacy and safety of Budesonide in patients with coronavirus smell therapy for anosmia recovery.

Country-wise Forecast CAGRs for the Chronic Smell and Flavor Loss Treatment Market

United Kingdom	6.3%
India	6.2 %
South Korea	6.1%
China	6.0%
USA	6.4%

Category wise Insights

Based on Classification, Which Is the Most Prominent Segment in The Chronic Smell and Flavor Loss Treatment Market?

The smell Disorder Segment remains dominant among other types

Based on the classification, the global chronic smell and flavor loss treatment market can be bifurcated into smell disorder and taste disorder. Smell disorder to projected to account for the largest market share in 2023.

On the other hand, taste disorder is taste disorders are common in adults and can be caused by several factors, such as Infection - Bacterial, viral, or fungal infections of the teeth or gums, mouth, and throat can cause swelling, reduce blood flow to taste buds, and/or produce chemicals that alter taste. Taste disorders account for a moderate market share during the forecast period.

Start-up Scenario

How do New Entrants Contribute to the Chronic Smell and Flavor Loss Treatment Market?

With technological innovations happening at a rapid pace, and companies looking for ways to increase customer engagement, start-ups are taking all possible steps to establish a name for themselves in the chronic smell and flavor loss treatment market.

Some of the start-ups in the chronic smell and flavor loss treatment market include-

• ANOSMIA COVID TEST KIT is a provider of smart smell tester devices for COVID-19 detection based on smell. The device helps people infected with COVID-19 manifest partial or total loss of smell in its early stages. It has developed OLORAMA technology smart scent generator that is a wireless version with Wi-Fi and batteries. Features include voice-activated smells, hyper-realistic scents, control via software, and others.

Competitive Landscape

Key pharmaceutical companies that are working efficiently in the chronic smell and flavor loss treatment space include names like Cyrano Therapeutics, Johns Hopkins, Boys Town National Research Hospitals, MSD Manual, Alcon, Stanford Medicine, Immunomic Therapeutics, Siemens Healthcare Private Limited, Omega Diagnostics Group PLC, HYCOR Biomedical, Inc., and others.

The manufacturers are involved in the production of chronic smell and flavor loss treatment in a larger capacity. Research and innovation are also conducted to launch innovative products for chronic smell and flavor loss treatment.

Also, some of the key players are acquiring small pharmaceutical companies to increase their production capacity. Suppliers are focusing on expanding their market presence across the world by initiating new product launches and boosting sales.

• Cyrano Therapeutics has developed a nasal spray to treat and restore the sense of smell and flavor in those who have experienced a chronic loss of those senses. The Company was founded by an experienced healthcare executive after personally experiencing a chronic loss of smell and flavor. The nasal spray has restored his smell and flavor function and he is now leading a mission to bring it to others.
• Hycor Biomedical, a leading manufacturer of in vitro diagnostic products for allergy and autoimmune testing, announced today that it has received USA Food and Drug Administration (FDA) 510(k) clearance for its new allergy testing system, NOVEOS.

Report Scope

Report Attribute	Details
Growth Rate	CAGR from 2023 to 2033
Expected Market Value (2023)	USD 3146 Million
ProjectedForecast Value (2033)	USD 5850.2 Million
Base Year for Estimation	2022
Historical Data	2017 to 2022
Forecast Period	2023 to 2033
Quantitative Units	Revenue in USD Million & CAGR from 2023 to 2033
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends & Pricing Analysis
Segments Covered	Classification, Symptoms, Test Types, Regions
Regions Covered	North America; Latin America; Western Europe; Eastern Europe; APAC; Middle East and Africa(MEA)
Key Countries Profiled	USA, Canada, Brazil, Mexico, Benelux, France, Germany, Italy, Nordic, Spain, United Kingdom, Poland, Russia, India, Malesia, Singapore, Thailand, Australia, New Zealand, GCC Countries, South Africa, Israel
Key Companies Profiled	Cyrano Therapeutics; Johns Hopkins; Boys Town National Research Hospitals; MSD Manual; Alcon; Stanford Medicine; Immunomic Therapeutics; Siemens Healthcare Private Limited; Omega Diagnostics Group PLC; HYCOR Biomedical
Customization	Available Upon Request

Key Segments Covered in Chronic Smell and Flavor Loss Treatment Industry Survey

Chronic Smell and Flavor Loss Treatment Market by Classification:

• Smell Disorder
• Taste disorder

Chronic Smell and Flavor Loss Treatment Market by Symptoms:

• Anosmia or Hyposmia
• Dysgeusia
• Ageusia

Chronic Smell and Flavor Loss Treatment Market by Taste Type:

• Self-Assessment Test
• Psychophysical Assessment Test
• Imaging Test
• Other Tests

Chronic Smell and Flavor Loss Treatment Market by Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• Asia Pacific
• Middle East and Africa(MEA)

Frequently Asked Questions

What is the Growth Potential of the Market?

The market is expected to record a CAGR of 6.4% through 2033.

What is the Projected Size of the Market by 2033?

The global market size may achieve USD 5850.2 million by 2033.

What is the Current Size of the Market by 2023?

In 2023, the market is expected to be around USD 3,146 million.

What Was the Market Potential for Growth in the Past?

From 2018 to 2022, the global market advanced at a CAGR of 6.1%.

What is CAGR of North America Market?

North America market is predicted to exhibit a CAGR of 6.4% in 2023.

What is the Current Market Trend?

Chronic odor and flavor loss is becoming prevalent, which fosters the market's expansion.