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Autism Spectrum Disorder Treatment Market Boosting the Healthcare Industry Worldwide
Posted: Aug 02, 2018
Autism spectrum disorder is a disability that causes significant social, communication, and behavioral challenges. The severity of the disorder differs from person to person. It can involve mild symptoms to severe disability wherein extensive support is required. Autism spectrum disorders are lifelong developmental disabilities. The word ‘spectrum’ represents the range and severity of autism among different people. The cause of autism spectrum disorder is uncertain, but possible factors include discrepancies in the development of certain brain functions and the heredity. Early identification, assessment, and diagnosis is the first step toward the treatment of autism spectrum disorder.
Rise in the number of government-sponsored awareness programs for autism, innovation of new products, increase in the number of autism patients, and growing research & development activities are key factors driving the globalautism spectrum disorder treatment market. The advancement in technology has results in E learning program to create awareness every corner of the world. Growing number generic pharmaceutical product for autism treatment and pipeline drugs are another key fueling factors for autism spectrum disorder treatment market. New autism medications are undergoing clinical trials, which include AT001 (Fluoxetine rapid dissolve), CNDO-201 (Trichuris suis ova), RG7314, and Syntocinon (a nasal spray). On the other hand, stricter regulations on product approval is the key restraint for the global autism spectrum disorder treatment market.
The global autism spectrum disorder treatment market can be segmented based on drug class, indication, distribution channel, and geography. In terms of drug class, the market can be classified into insomnia drugs, selective serotonin reuptake inhibitors (SSRIs), anticonvulsants, antipsychotics, and others. Based on indication, the autism spectrum disorder treatment market can be divided into insomnia, epilepsy, depression, hyperactivity & inattention, and others. In terms of distribution channel, the market can be categorized into hospital pharmacies, retail pharmacies, and others.
Based on geography, the global autism spectrum disorder treatment market can be segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. North America dominates the global autism spectrum disorder treatment market. Factors such as new product development, rise in the number of autism patients, and growing awareness about autism among people are likely to drive the autism spectrum disorder treatment market in North America during the forecast period.
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According to the Center for Disease Control & Prevention (CDC), the rate of diagnosis of autism spectrum disorder in the U.S. increased from 3.57% in 2014 to 4.55% in 2016. Europe is the second-largest market for autism spectrum disorder treatment. Increasing number of awareness programs for autism and increasing research & development activities are key factors fueling the autism spectrum disorder treatment market in Europe.
The Trans-European program involves universities, charities, and expert institutions in order to increase the understanding of autism in the region. The autism spectrum disorder treatment market in Asia Pacific is expected to expand at a significant pace during the forecast period, due to increasing health care expenditure, growing awareness among people, and increasing investments in research & development by key players in the region.
Currently, the treatment of autism spectrum disorder in Latin America and Middle East & Africa is very low, due to lack of access to health care and lack of awareness among people about the treatment of autism spectrum disorder in these regions but likely to present immense opportunities to the autism spectrum disorder treatment market in near future. The increasing health care expenditure and rising investments by key players in these regions are projected to fuel the market in Latin America and Middle East & Africa during the forecast period.
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Major players operating in the global autism spectrum disorder treatment market are Actavis, Inc., Curemark LLC, Janssen Pharmaceuticals, Inc., Otsuka Holdings Co., Ltd., Pediatric BioScience, Inc., Teva Pharmaceutical Industries Ltd., Mylan Pharmaceuticals, Inc., Pfizer Inc., Novartis AG, Bristol-Myers Squibb, Merck & Co., and Par Sterile Products, LLC.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services.