The global chronic odour and flavour loss treatment market is currently valued at $3146 million in 2023 and is expected to grow at a 6.4% CAGR. Because of technological advancements in healthcare, the market is expected to reach $5850.2 million by 2033.
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Rising cases of post-covid flavour loss are expected to drive the chronic smell and flavour loss market over the forecast period. Growing awareness as a result of the ongoing COVID-19 crisis and the anticipated success of the sole pipeline candidate are expected to have an impact on the chronic smell and flavour loss treatment market in the coming years.
The development of disease-specific therapies for chronic odour and flavour loss bodes well for market expansion. CYR-064 compositions, for example, contain phosphodiesterase (PDE) inhibitors designed for intranasal administration. The main mechanism underlying all pathologies causing smell and flavour loss is the same. It involves the inhibition of stem cell activation, which is normally mediated by adenylyl cyclase III via cAMP and cGMP.
North America dominates the chronic smell and flavour loss treatment market due to the presence of key market players’ presence, along with recent product launches and established healthcare infrastructure, which will accelerate the market’s growth in the region. The significant R&D investments in Europe abode well for market growth.
The manufacturers are involved in the production of chronic smell and flavor loss treatment in a larger capacity. Research and innovation are also conducted to launch innovative products for chronic smell and flavor loss treatment.
Key Takeaways from the Market Study
- As of 2023, the chronic smell and flavor loss treatment market was valued at US$ 3146 Million
- From 2023 to 2033, the chronic smell and flavor loss treatment industry is poised to grow at an 6.4% CAGR
- By 2033, the chronic smell and flavor loss treatment market is slated to reach a valuation of US$ 5850.2 Million
- China is poised to yield a CAGR of 6.0% with respect to chronic smell and flavor loss treatment in 2033
“Growing healthcare spending and increase in the prevalence of smell disorders and taste disorders are expected to radically transform the chronic smell and flavor loss treatment market in the coming years,” comments an analyst at FMI.
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Competitive Landscape
are some of the key players in the chronic smell and flavour loss treatment market 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 flavour loss treatment in a larger capacity. Research and innovation are also conducted to launch innovative products for chronic smell and flavour loss treatment.
- 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 U.S. Food and Drug Administration (FDA) 510(k) clearance for its new allergy testing system, NOVEOS.
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
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More Valuable Insights Available
FMI, in its new offering, presents an unbiased analysis of the chronic smell and flavour loss treatment market, presenting historical demand data (2017 to 2022) and forecast statistics for the period of 2023 to 2033.
The study divulges essential insights on the chronic smell and flavour loss treatment market by Classification (Smell Disorder, Taste disorder) by Symtopms (Anosmia or Hyposmia, Dysgeusia, Ageusia) by Taste Type (Self-Assessment Test, Psychophysical Assessment Test, Imaging Test, Other Tests) by Region – Global Forecast 2023 to 2033
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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