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Autism Spectrum Disorder Therapeutics Market to Register CAGR of 7.9% during 2023-2030; Strong Government Backing for Providing Subsidies to Patients to Augur Growth

August 28, 2023 | Healthcare

The global autism spectrum disorder therapeutics market size was valued at USD 1.93 billion in 2022. Fortune Business Insights™, in its report, titled, “Autism Spectrum Disorder Therapeutics Market Size, Share & COVID-19 Impact Analysis, By Drug Therapy (Antipsychotic Drugs, Selective Serotonin Reuptake Inhibitors, Stimulants, Sleep Medications, and Others), By Disease (Autistic Disorder, Asperger Syndrome, Pervasive Developmental Disorder, and Others), By Age Group (Children and Adults), By Distribution Channel (Hospital Pharmacies, Drugs Stores & Retail Pharmacies, and Online Pharmacies) and Regional Forecast, 2023-2030 ” states that the market is projected to grow from USD 2.01 billion in 2023 to USD 3.42 billion by 2030, exhibiting a CAGR of 7.9% during the forecast period. The rising prevalence of ASD and growing government initiatives to improve awareness regarding the disorder and discover drugs for the same is propelling market expansion.


Strong Demand for Drugs Amid COVID-19 and Surging Application of Telehealth to Thrust Growth


The COVID-19 pandemic at the preliminary phases led to a closure of numerous businesses in the healthcare industry, consequently resulting in a stoppage of industrial courses. Furthermore, the shutting down of therapy facilities and autistic disorder-linked amenities led to the delay in therapy courses for autistic children. Nevertheless, increasing anxiety intensities amongst autistic patients and the jeopardy of being infected by COVID-19 as these fall below defenseless groups resulted in the robust adoption of telehealth systems by the caregivers of the patient. The increased usage of online channels and digital healthcare platforms to procure autism medications will augment the market growth through 2030.


Axial Therapeutics Accepts FDA Approval of IND Application; Initiates Phase 2b Trial for AB-2004


Axial Therapeutics, which is a clinical-stage biopharmaceutical firm dedicated to enhancing the condition of people with neurological conditions and ailments, made a declaration that the company was granted permit from the U.S. Food and Drug Administration (FDA) for its investigational novel drug (IND) application for a lead candidate, AB-2004, which is a stomach-centered, molecular therapeutic for treating irritability related with ASD.


Government Programs for Augmented Consciousness of Autism Spectrum Disorder to Boost Market Growth


An amplifying number of government programs such as establishing numerous foundations and endorsing diverse funding for the consciousness of autism spectrum disorder treatment in various nations is fueling the market growth. Few of the government programs for increasing awareness regarding autism spectrum disorder across the world contain the initiatives directed by the Saskatchewan Government.


On the other hand, the lack of availability of drugs to effectively cure autism and its core symptoms will hamper market proliferation in the forthcoming years.


To get a detailed report summary and research scope of this market, click here:


https://www.fortunebusinessinsights.com/industry-reports/autism-spectrum-disorder-therapeutics-market-101207


Joint Ventures Among Corporations to Reinforce Their Branding in Market


Significant players in the market are persistently inclining towards applying efficient approaches to stimulate their product recognition and inaugurate their spot in the market. Among many tactics, one such is to present novel products by forming a collaboration with other firms to expand their reach to end-users.


Key Industry Development



  • October 2021: Axial Therapeutics announced that the company received clearance from the U.S. Food and Drug Administration (FDA) of its Investigational New Drug (IND) application for their lead candidate named AB-2004, which is a gut-targeted, molecular therapeutic being studied for the treatment of irritability associated with ASD.


List of Key Players Covered in the Report



  • Curemark, LLC (U.S.)

  • Alembic Pharmaceuticals Limited (India)

  • Yamo Pharmaceuticals (U.S.)

  • PaxMedica (U.S.)

  • F. Hoffmann-La Roche Ltd (Switzerland)

  • Aurobindo Pharma Ltd. (India)

  • Otsuka Holdings Co. Ltd. (Japan)

  • Janssen Pharmaceuticals, Inc. (New Jersey)

  • Teva Pharmaceutical Industries Ltd. (Israel)

  • H. Lundbeck A/S (Denmark)


Further Findings



  • Based on disease, the market for autism spectrum disorder treatment is divided into Autistic Disorder, Asperger's Syndrome, Pervasive Developmental Disorder (PDD), and others. The autistic disorder segment held a dominant market share in the year 2022 owing to the high prevalence of this disease type.

  • According to patient age group, adult segment accounted for a significant market share in 2022 owing to the rising number of service providers offering a wide range of cost-effective therapies. Additionally, the growing prevalence of autism in adult patients is attributing to segment expansion.

  • North America held the largest autism spectrum disorder therapeutics market share in 2022 owing to the increasing prevalence of autism disorder across the U.S. and growing adoption and uptake of therapies.


Table of Segmentation






























































  ATTRIBUTE



  DETAILS



Study Period



2019-2030



Base Year



2022



Estimated Year



2023



Forecast Period



2023-2030



Historical Period



2019-2021



Growth Rate



CAGR of 7.9% from 2023 to 2030



Unit



Value (USD billion)



Segmentation



By Drug Therapy, Disease, Age Group, Distribution Channel, and Geography



By Drug Therapy


 




  • Antipsychotic Drugs

  • SSRIs/Antidepressants

  • Stimulants

  • Sleep Medications

  • Others 



By Disease




  • Autistic Disorder

  • Asperger Syndrome

  • Pervasive Developmental Disorder (PDD)

  • Others



By Age Group




  • Children

  • Adults



By Distribution Channel




  • Hospital Pharmacies

  • Drug Stores & Retail Pharmacies

  • Online Pharmacies



By Geography




  • North America (By Drug Therapy, By Disease, By Age Group, By Distribution Channel, and By Country)

    • U.S. (By Disease)

    • Canada (By Disease)



  • Europe (By Drug Therapy, By Disease, By Age Group, By Distribution Channel, and By Country/Sub-Regions)

    • U.K. (By Disease)

    • Germany (By Disease)

    • France (By Disease)

    • Italy (By Disease)

    • Spain (By Disease)

    • Scandinavia (By Disease)

    • Rest of Europe (By Disease)



  • Asia Pacific (By Drug Therapy, By Disease, By Age Group, By Distribution Channel, and By Country/Sub-Regions)

    • China (By Disease)

    • Japan (By Disease)

    • India (By Disease)

    • Australia (By Disease)

    • Southeast Asia (By Disease)

    • Rest of Asia Pacific (By Disease)



  • Latin America (By Drug Therapy, By Disease, By Age Group, By Distribution Channel, and By Country/Sub-Regions)

    • Brazil (By Disease)

    • Mexico (By Disease)

    • Rest of Latin America (By Disease)



  • The Middle East & Africa (By Drug Therapy, By Disease, By Age Group, By Distribution Channel, and By Country/Sub-Regions)

    • GCC Countries (By Disease)

    • South Africa (By Disease)

    • Rest of the Middle East & Africa (By Disease)




Autism Spectrum Disorder Therapeutics Market
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  • 2022
  • 2019-2021
  • 162

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