At 10.9% CAGR, Autism Spectrum Disorder Therapeutics Market to Score Past US$ 5,225.5 Million by 2027 | Says Coherent Market Insights. Inc
Autism Spectrum Disorder (ASD) is a neurodegenerative disorder that is linked to and coincides with a number of other diseases, including epilepsy, chronic illnesses, sleep disturbances, anxiety, depression, and gastrointestinal issues. Developmental and systematic assessments are the only ways to detect ASD. It can be found between the ages of eighteen months and two years. Drugs like aripiprazole, risperidone, and melatonin have been approved by the U.S. Food and Drug Administration (FDA) to help with ASD therapy. Bumetanide and Balovaptan are two drugs currently undergoing clinical trials to determine their safety and effectiveness in treating ASD.
The global autism spectrum disorder therapeutics market was estimated at US$ 2,285.5 million in 2019 and is projected to grow at a CAGR of 10.9 percent from 2020 to 2027.
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The introduction of new products by main players and the rising number of drug candidates are projected to be the main driving forces for the global autism spectrum disorder therapeutics market growth over the forecast period. In February 2014, the company received six additional patents in Europe, Australia, and Central America for its enzyme delivery technology, which can be used for a variety of enzyme drugs, including Curemark's patented ASD drug, CM-AT.
Curemark also performed a second Phase III clinical trial, the Blüm Study, in September 2017 to assess the safety and effectiveness of CM-AT in children aged 3 to 8 with ASD.
Furthermore, an early diagnosis of ASD may help in the growth of children. For instance, According to a study published in the journal JAMA Pediatrics in April 2019, successful ASD diagnosis at a younger age than 18 months is possible, and there could be opportunities to assess the effectiveness of ASD care at a younger age. As a result, rising research into ASD is projected to foster growth of the global autism spectrum disorder therapeutics market over the forecast period.
One of the main reasons estimated to stymie the global autism spectrum disorder therapeutics market is a scarcity of expert doctors who can reliably diagnose ASD. As per studies conducted by the Simons Foundation Autism Research Initiative (SFARI), there are only 8,300 child psychiatrists, 1,500 child neurologists, and 1,000 developmental-behavioral pediatricians in the U.S. with over 1 million autistic children in 2018.
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Major companies contributing in the global autism spectrum disorder therapeutics market are Oryzon Genomics S.A., Curemark LLC, Yamo Pharmaceuticals LLC, Otsuka Holdings Co. Ltd., Stalicla SA., Neurim Pharmaceuticals, Inc., F. Hoffmann-La Roche AG, Bristol Myers Squibb, Pfizer, Inc., Novartis AG, Zynerba Pharmaceuticals Inc., Servier Laboratories Ltd., Teva Pharmaceutical Industries Ltd., and GW Pharmaceuticals Plc.
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