ADHD Therapeutics Market Overview
Attention Deficit Hyperactivity Disorder, majorly known as ADHD is a neuro-developmental condition that mostly occurs in the childhood and continues in adulthood if not treated in time. Symptoms of ADHD include combinations of tenacious issues such as impulsive behavior, difficulty in sustaining attention, and hyperactivity, etc.
The exact cause leading to the occurrence of ADHD is not known. However, some environmental factors such as premature birth, prenatal tobacco exposure, and genetics are considered as severe risk factors for ADHD. Similarly, there is no breakthrough treatment for ADHD, but early detection & treatment can help patients to manage their conditions.
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Over the past few years, the global ADHD therapeutics market has been growing rapidly, mainly due to the growing prevalence of ADHD and the advancements in the therapeutics to manage its conditions. The increasing uses of ADHD medicines indicate that the numbers of patients being diagnosed and treated have been increasing.
Considering the traction, the market is vibrating with; Market Research Future (MRFR) in its recently published study report asserts that the global ADHD therapeutics market gaining further prominence will register a spectacular growth along with a striking CAGR throughout the forecast period (2017 – 2024).
The burgeoning healthcare sector along with the increasing number of advanced care providing facilities substantiates the market growth. However, the number of patients receiving the quality treatment, worldwide, is yet far little. In few of the developing regions, ADHD is still under-diagnosed and remains untreated often.
The well-established ADHD therapeutics market perceives several options available for diagnosis and treatments, ranging from behavioral intervention and prescription medication to digital medicines. Additionally, there are antibiotics developed with technological interventions to provide preferable outcomes.
Spreading awareness among people about the disorder and the availability of various therapeutics to treat its conditions is a key factor fostering market growth. Evidently, improving economic conditions worldwide act as a major tailwind pushing up the market growth by availing improved healthcare.
Conversely, factors such as incidents of drug resistance, unmet clinical needs, and the high cost associated with the treatments are likely to impede the market growth. However, emerging Biosimilars are expected to support market growth, availing affordable, cost-effective medical products.
ADHD Therapeutics Market – Segmentations
MRFR has segmented the report into three key dynamics for an easy grasp;
By Drug Type : Stimulants, Non-stimulants and others.
By Distribution Channel : Hospitals, Pharmacies, Clinics, and Research Laboratories among others.
By Regions : Asia Pacific, Europe, North America, and Rest-of-the-World (RoW).
ADHD Therapeutics Market – Regional Analysis
The North American region accounts for the leading market for ADHD therapeutics, Globally. The ADHD therapeutics market in this region commands the largest market share, followed by Europe & Asia Pacific market, respectively. The US ADHD therapeutics market heading with the high healthcare expenditure leads the regional market. Continuing with the same growth trends in the future, North America is expected to retain its dominance over the global ADHD therapeutics market, creating a large revenue pocket throughout the forecast period.
Heading with the significant technological advancements and the emergence of digital medicines, the ADHD therapeutics market in the European region holds the second position in terms of the size. Moreover, the presence of a flourishing medical devices market and rising healthcare expenditure in the region are estimated to facilitate the growth of the market.
The Asia Pacific ADHD therapeutics market is emerging as a lucrative market, worldwide. The factors substantiating the market growth include the huge population, large unmet needs, and the availability of low-cost drugs for ADHD treatment. Besides, the improving economic conditions in the region are acting as a key driving force pushing up the market growth by boosting the healthcare sector.
Increasing funding support from the public and private bodies are supporting the market growth in the region, increasing R&D activities. Furthermore, the rising penetration of healthcare insurance mainly in the countries such as Malaysia, Thailand, and Vietnam alongside the availability of new treatment methods that are increasingly meeting the growing demand for the treatments is expected to drive the ADHD therapeutics market in the in the Asia Pacific region.
Global ADHD Therapeutics Market – Competitive Analysis
The highly competitive, ADHD therapeutics market appears to be fragmented characterized by the presence of various large and small-scale players. Well-established players incorporate strategic initiatives such as acquisition, partnership, collaboration, expansion, and product launch to gain a competitive edge and to maintain their positions in the market.
ADHD Therapeutics Market Key Players:
Key players leading the global ADHD therapeutics market include Concordia International Corp., Highland Therapeutics Inc., Eli Lilly and Company, Janssen Global Services LLC, Novartis AG, NEOS Therapeutics Inc., Noven Pharmaceuticals Inc., Teva Pharmaceutical, Shire, and Pfizer Inc. among others.
ADHD Therapeutics Industry/Innovations/Related News:
January 04, 2019 – Researchers at Children’s Hospital of Philadelphia (US) published the results of the study wherein they evaluated a digital medicine tool – EVO designed for investigational treatment for children with autism spectrum disorder (ASD) and co-occurring attention/deficit-hyperactivity disorder (ADHD). The outcomes published in the Journal of Autism and Developmental Disorders confirmed the acceptability, feasibility, and safety of EVO designed by Akili Interactive, a prescription digital medicine company. EVO delivers sensory and motor stimuli through an action video game experience.
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