Attention Deficit Hyperactivity Disorder Therapeutics Market
Posted by Merin John on June 27th, 2021
Both, stimulants and non-stimulants are gaining significant demand for the treatment of attention-deficit hyperactivity disorder. ADHD is one of the most common childhood disorders, and is more prevalent in males than females. ADHD is a chronic condition where treatment cannot cure the patient; however, early diagnosis and treatment could mitigate the symptoms. There are many effective ADHD therapeutics available, such as stimulants, amphetamine, and methylphenidate, which are generally selected by physicians for first medication. Besides, manufacturers are also continuously focusing on the development of new ADHD therapeutics with a diversity of mechanisms and functions.
The global attention-deficit hyperactivity disorder (ADHD) therapeutics market was valued at US$ 19 Bn in 2020, and is expected to witness a CAGR of 7% during the forecast period (2020–2030).
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Key Takeaways of ADHD Therapeutics Market Study
“Growing prevalence of ADHD disorder and increasing preference for cheaper and effective generic ADHD drugs are expected to boost the ADHD therapeutics market over the coming years,” says a PMR analyst.
Introduction of Innovative Drugs: Key Strategy of Leading Manufacturers
Manufacturers of generic drug are focusing on the introduction of cheaper and effective generic ADHD drugs to increase their market share. These generic drugs can cost several times lower than branded drugs, are equally safe, and of good quality and performance. Therefore, leaders in the global attention-deficit hyperactivity disorder therapeutics market are now looking forward to developing more generic drugs instead of branded ADHD drugs at a high cost. For instance, in March 2019, ANI Pharmaceuticals, Inc. announced the launch of 18mg and 27mg methylphenidate hydrochloride extended-release tablets for the treatment of ADHD.
Impact of COVID-19 on ADHD Therapeutics Market
The attention-deficit hyperactivity disorder therapeutics market will exhibit substantial growth on the back of the global pandemic. As a result of the COVID-19 outbreak, healthcare institutions have deprioritized a majority of non-essential medical treatments. On this premise, in-person counseling sessions have also been postponed, thereby leaving individuals with ADHD completely reliant on therapeutics. In spite of supply chain disruptions and hindered production lines, players are leveraging the demand for medicines and are trying to dispatch them to stores that are running out of essential medicines. In the form of the rising demand for ADHD therapeutics that help in coping with mental distress caused by self-isolation, the pandemic is acting as a catalyst for the growth of the ADHD therapeutics market.
More Valuable Insights on ADHD Therapeutics Market
Persistence Market Research offers a unique perspective and actionable insights on the attention-deficit hyperactivity disorder therapeutics market in its latest study, presenting historical demand assessment of 2015–2019 and projections for 2020–2030, on the basis of drug type (stimulants and non-stimulants), age group (pediatric & adolescents and adults), and distribution channel (hospital pharmacies, speciality clinics, retail pharmacies, and e-Commerce), across five major regions.
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About the AuthorMerin John
Joined: December 11th, 2020
Articles Posted: 262
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