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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.
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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
List of Key Players Covered in the Report
Further Findings
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
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By Disease |
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By Age Group |
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By Distribution Channel |
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By Geography |
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