Marker Research Future proposes that the global ADHD therapeutics market is predicted to demonstrate a healthy CAGR during the forecast period (2016-2024). Factors such as premature birth and genetic inheritance are predicted to favor the market growth. Attention deficit hyperactivity disorder (ADHD) is referred to as one of the most common neurodevelopmental disorders of childhood which are generally diagnosed in childhood and often lasts till adulthood. Children suffering from ADHD might be hyperactive and have trouble controlling impulsive behaviors and paying attention. They even forget or lose things a lot, daydream, face difficulty in getting along with others or make careless mistakes. The Centers for Disease Control and Prevention has defined neurobehavioral as the way the brain affects behavior, emotion, and learning.
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Market Potential and Pitfalls
The symptoms of ADHD includes hyperactivity, lack of attention, and impulsivity, which further hampers the proper development and functioning of an individual. With the augmenting awareness associated with the neurodevelopmental disorders coupled with the easy availability of diagnostic guidelines over the internet, the global market for ADHD therapeutics is estimated to flourish throughout the appraisal period. Factors such as changing lifestyle, premature birth, and genetic inheritance are some of the factors leading to the increasing incidences of ADHD among the children of 4-17 years of age group. This is further propelling the market growth to a large extent. Also, the availability of online platforms is assuring the anonymity of the patient. This is further inclining the individuals towards undergoing treatment for ADHD, thereby fostering the market growth worldwide. Moreover, the rising use of preservations and additives in children’s diet is likely to contribute to the market growth.
As per the National Institute of Health, the prevalence of ADHD is higher in boys. The accelerating awareness of ADHD among the physicians and the patients and opinion-based diagnosis due to the absence of standard diagnostic tests are likely to trigger the demand for ADHD therapeutics market globally.
In contrast, factors such as underdiagnosis of ADHD owing to the existence of comorbid conditions in children, low availability of non-stimulant drugs in order to treat ADHD in some of the regions, and lack of awareness regarding ADHD are the top barriers predicted to vitiate the market growth in the coming years. Despite such hiccups, the ADHD therapeutics market is experiencing an admirable growth owing to the rising number of research activities, medical advancements, and growing awareness among the people regarding mental illness.
Global ADHD Therapeutics Market: Segmental Analysis
The global ADHD therapeutics market has been segmented on the basis of drug types and distribution channels.
By mode of drug types, the global ADHD therapeutics market has been segmented into stimulants and non-stimulants. Among these, the non-stimulants segment is predicted to generate the highest revenue in the market owing to the effective treatment improving focus along with impulsivity.
By mode of distribution channel, the global ADHD therapeutics market has been segmented into clinics, hospitals, research laboratories, pharmacies, and others.
Geographically, the ADHD therapeutics market span across regions namely, Europe, America, Asia Pacific, and the Middle East & Africa.
Among all the regions, the North American region is predicted to dominate the global ADHD therapeutics market. The growth is credited to the accelerating incidences of ADHD among the children. Also, high expenditure on healthcare by the population is likely to contribute to the market growth in this region.
The ADHD market size in the European region is presumed to witness a significant growth rate due to the rising research and development activities for introducing more effective drugs in this region. The market players are embracing new technologies to launch new products which are further influencing the market growth to a large extent.
Asia Pacific is considered to expand at a notable pace throughout the appraisal period owing to the rising awareness regarding ADHD coupled with its available treatments. Moreover, growing development in the healthcare sector, government initiatives toward treating mental illness, and the growing prevalence of mental disorders are some of the other factors influencing the market growth in this region.
August 2018: A subsidiary of Highland Therapeutics Inc., Ironshore Pharmaceuticals & Development, Inc. had recently received the FDA approval for New Drug Application for Jornay PM which was formerly termed as HLD200. This is generally used for treating ADHD in patients of the age six and older.
The prominent players operating the global ADHD therapeutics market are Pfizer Inc., Noven Pharmaceuticals Inc., Teva Pharmaceutical, Novartis AG, Eli Lilly and Company, Highland Therapeutics Inc., Shire, NEOS Therapeutics Inc., Concordia International Corp., Janssen Global Services LLC, and others.
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