Tardive Dyskinesia Drugs Market by Global Size, Trends, Revenue, 2019 Competitive Landscape, Reviews, Pricing Strategies, Key News by CMI
Tardive dyskinesia (TD) is a nerve disorder characterized by involuntary movements such as the jaw, lips, and tongue, considered as grimacing, sticking the tongue out, and lip-smacking. According to the Center for Drug Evaluation and Research, tardive dyskinesia can lead to disability and can further stigmatize patients with mental illness. Tardive akathisia is characterized by acute pain, inner tension, anxiety, and a compulsive drive to move the body. This condition mostly occurs in individuals who are under prolong administration of antipsychotic drugs for any neurological disorder such as depression, psychosis, and certain drugs to treat gastrointestinal disorders. Neurocrine Biosciences is the only drug that has received approval. However, the presence of strong pipeline drugs for the treatment of TD disorder is expected to propel the growth of the tardive dyskinesia drug market.
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Growing incidence of neurological disorders is expected to drive growth the Tardive Dyskinesia Drugs Market
According to Mental Health America, the occurrence of tardive dyskinesia is estimated to be 10 to 20% of patients who are earlier treated with long term anti-psychotic medications. According to Neurocrine’s Chief Medical Officer, Chris O’Brien, all doctors and psychiatrists now accept Tardive dyskinesia as a prevalent condition. However, according to Neurocrine Bioscience, there are still an estimated 500,000 people in the U.S., who are affected by Tardive Dyskinesia each year. Lack of awareness on TD and its medication can hinder the growth of the global tardive dyskinesia drug market.
Valbenazine to gain the major market share in TD Drugs Market globally
The global tardive dyskinesia drugs market is segmented on the basis of the sub-types, drugs, end-user, and geography. On the basis of sub-type, the global market is divided into choreoathetosis, tardive dystonia, blepharospasm, and tardive akathisia. On the basis of drugs, the Global Market is divided into Valbenazine, Tetrabenazine, and others (deutetrabenazine and VMAT2 inhibitor). On the basis of the end-user, the global market is divided into hospitals, pharmacies, drug stores, and e-commerce.
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Increasing usage of long-term neuroleptic drugs increases the risk of tardive dyskinesia, which proportionally boost the tardive dyskinesia drugs market
Regional segmentation in TD Drugs Market by Coherent Market Insights comprises North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America accounts for the largest share in the tardive dyskinesia drug industry. For instance, according to Virtual Medical Center, Australia, tardive dyskinesia is observed in around 15-30% of patients in the U.S. who have been prescribed long-term neuroleptic drugs administration. Patients with mood disorders such as depression, anxiety disorders, and bipolar affective disorder are at greater risk of developing tardive dyskinesia as compared to people suffering from schizophrenia. Therefore, the rising prevalence of mental disorders would boost the tardive dyskinesia drugs market growth.
Strong clinical trial pipeline to treat Tardive Dyskinesia is projected to boost the market for Tardive Dyskinesia Drugs Market in the near future
Key players operating in the tardive dyskinesia market include Valeant Pharmaceuticals, Neurocrine Biosciences, and Teva Pharmaceutical Industries. There are quite a few companies in Tardive Dyskinesia Market, which are striving hard to understand the mechanism to treat dyskinesia and are constantly working towards developing innovative drugs in order to provide accurate test results. Teva pharmaceutical is also conducting clinical trials of deutetrabenazine for tardive dyskinesia that were started by Auspex Pharmaceutical in 2015.
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- Major companies in the market are focused on various growth strategies such as gaining product approvals from regulatory authorities, in order to expand their product portfolio. For instance, in April 2017, Neurocrine Biosciences, Inc., a biopharmaceutical company, received the U.S. Food and Drugs Administration approval for Ingrezza capsules, which are indicated for the treatment of adults suffering from tardive dyskinesia.
- Key players in the market are involved in various business strategies such as gaining product approvals from regulatory authorities, in order to enhance their market presence. For instance, in August 2017, Teva Pharmaceutical Industries received the U.S. FDA approval for AUSTEDO tablets, which is indicated for the treatment of patients suffering from tardive dyskinesia.
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