ADHD Therapeutics Market to Expand Twofold by 2030; Deprioritized Status of ADHD in Hospitals Due to Covid-19 Pandemic Surging Market Growth
Published On : Jan 08, 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).
Key Takeaways of ADHD Therapeutics Market Study
- Stimulants, under drug type, occupied above 86% of the market value share in the attention-deficit hyperactivity disorder therapeutics market in 2019, owing to their increasing adoption by physicians and parents for the treatment of ADHD.
- The adults segment, under age group, accounted for the highest market value share in global ADHD therapeutics market, as ADHD disorder is likely to be found more in adults than pediatric and adolescents.
- Retail pharmacies hold a major share in the global ADHD therapeutics market, owing to the high availability of ADHD drugs and ease of access.
- North America holds a prominent revenue share in the global attention-deficit hyperactivity disorder therapeutics market, due to the presence of established players in the region.
“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.
For additional insights on how growth of the ADHD therapeutics market will unfold over the next decade, write to the analyst at firstname.lastname@example.org
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Attention Deficit Hyperactivity Disorder Therapeutics Market
Global Market Study on Attention-deficit Hyperactivity Disorder (ADHD) Therapeutics: Increasing Production of Generic ADHD Drugs to Boost Market Growth
Global Market Study on Attention-deficit Hyperactivity Disorder (ADHD) Therapeutics: Increasing Production of Generic ADHD Drugs to Boost Market GrowthRequest TOC