Pune, India, March 04, 2021 (GLOBE NEWSWIRE) -- According to a report published by Fortune Business Insights, titled, “Autism Spectrum Disorder Therapeutics Market”: Global Market Analysis, Insights and Forecast, 2018-2026,” the global market is likely to reach US$ 4,612.1 Mn by 2026 owing to the rising incidence of autism spectrum disorder worldwide. The report provides valuable insights into the global market trends and factors that are directly affecting the growth of the market. As per the report, the global autism spectrum disorder therapeutics market was worth US$ 3,293.0 Mn in 2018. Considering the increasing awareness programs regarding this particular disorder and less availability of treatment options, the global market is expected to rise at a moderate CAGR of 4.3% during the forecast period (2019-2026).
The report further states that the number of children diagnosed with autism is increasing day by day across the globe. This, combined with favorable reimbursement scenario, will increase the demand for applied behavioral analysis therapies. Such therapies aid in improving learning and physical disabilities in autistic children. Furthermore, FDA approvals of numerous medicines that are used to manage autism spectrum disorder are expected to propel the global autism spectrum disorder therapeutics market during the forecast period.
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Autistic Disorder Segment to Witness Growth Owing to the Rising Prevalence of the Disease
The global autism spectrum disorder therapeutics market is grouped into drug therapy and communication and behavioral therapy in terms of treatment type. Amongst these, the communication and behavioral therapy segment was in the leading position in the global market. Fortune Business Insights predicts that it will retain its position throughout the forecast period.
In terms of type, the autism spectrum disorder therapeutics market is classified into Asperger syndrome, autistic disorder, pervasive development disorder, and others. Out of these, the autistic disorder segment procured the highest autism spectrum disorder therapeutics market share in the year 2018. It is anticipated to witness significant growth in the coming years. This growth is attributed to the increasing prevalence of this disorder.
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Fusion Autism Center Opens its New Therapy Center to Provide Pediatric Services
Several renowned market players have begun investing huge sums in the research and development of advanced and effective drugs for the treatment of autism spectrum disorder. This will contribute to the global autism spectrum disorder therapeutics market growth in the coming years. Below are three latest initiatives that have been recently taken by the prominent market players to drive global market sales.
Fusion Autism Center (FAC), a mental health service provider, based in the U.S.A., announced in February 2019 that it has successfully expanded its center-based services of Applied Behavioral Analysis therapy for kids on the autism spectrum. The new center is built in Augusta so that it would provide much-needed services to the communities with special needs residing in the area. Apart from that, FAC has its centers in Roswell, Woodstock, Cumming, Peachtree, and Duluth.
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Q BioMed Inc., a prominent developer of biomedical assets, based in New York, announced in June 2018 that it has applied for Orphan Drug status with European and the U.S. regulators for QBM-001, the company’s pediatric autism drug.
F. Hoffmann-La Roche Ltd., a multinational healthcare company, headquartered in Switzerland, announced that the FDA has approved Breakthrough Therapy Designation for its oral medication balovaptan in January 2018. The investigational oral medicine has the potential to improve communication and interaction abilities of those affected with autism spectrum disorder.
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List of the Companies Profiled in the Global Market:
- Applied Behavior Consultants,
- Pfizer Inc.,
- Q BioMed Inc,
- Fusion Autism Center,
- Hopebridge, LLC.,
- Johnson & Johnson Services, Inc.,
- Behavior Innovations,
- Eli Lilly and Company,
- Otsuka Holdings Co. Ltd.,
- other prominent market players.
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Detailed Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Prevalence of Autism Spectrum Disorder for Key Countries/Region
- Recent Industry Developments Such As Partnerships, Mergers, & Acquisitions
- Regulatory Framework by Key Countries
- Global Reimbursement Scenario and Economic Cost Burden for the Treatment of Autism Spectrum Disorder by Key Countries/Region
- Global Autism Spectrum Disorder Therapeutics Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Autistic Disorder
- Asperger Syndrome
- Pervasive Developmental Disorder
- Market Analysis, Insights and Forecast – By Treatment Type
- Communication & Behavioral Therapies
- Applied behavior analysis (ABA)
- Speech & Language Therapy
- Occupational Therapy
- Drug Therapies
- Antipsychotic Drugs
- Sleep Medications
- Market Analysis, Insights and Forecast – By Region
- North America
- Asia pacific
- Latin America
- Middle East & Africa
- Market Analysis, Insights and Forecast – By Region
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