Global Autism Spectrum Disorder Therapeutics Market, by Drug Type (Aripiprazole, Risperidone, Melatonin, CM-AT, Bumetanide, and Balovaptan), by Age Group (Child and Adult), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 2,285.5 million in 2019 and is projected to exhibit a CAGR of 10.9% over the forecast period (2019 - 2027).
Increasing investigational research and funding support for pharmacogenomics-based drug discovery is a major factor driving growth of the autism spectrum disorder therapeutics market. Various organizations are focused on receiving approvals to investigate novel drugs for the treatment of ASD. For instance, in January 2018, Roche announced that the U.S. Food and Drug Administration (FDA) granted breakthrough therapy designation for its investigational oral medicine balovaptan, a vasopressin 1a (V1a) receptor antagonist for individuals with ASD. Balovaptan demonstrated potential to improve social interaction and communication in people with ASD. Similarly, in May 2018, the U.S. FDA granted fast track designation for Yamo Pharmaceuticals’ investigational drug L1-79, a tyrosine hydroxylase inhibitor intended to diminish the socialization and communication symptoms in individuals with ASD. L1-79 demonstrated potential to address an unmet medical need for treatment of core symptoms of ASD.
Increasing funding for the research of ASD drugs is expected to contribute in the ASD therapeutics market size. For instance, in June 2018, Innovative Medicines Initiative funded US$ 132 million to a research grant titled Autism Innovative Medicine Studies-2-Trials (AIMS-2-Trials), which is academically co-led by the Institute of Psychiatry, Psychology & Neuroscience (IoPPN) at King’s College London and F. Hoffmann-La Roche, Basel. Manufacturers in the autism spectrum disorder therapeutics market are focused on adopting collaboration and partnership strategies to enhance their market share. For instance, in 2017 Servier Laboratories Ltd. and Neurochlore announced signing of an exclusive licensing agreement to develop and market bumetanide for pediatric autism in Europe. Under this agreement, Servier Laboratories Ltd. will develop and market the product in Europe and Neurochlore will retain these rights for the U.S. market.
Browse 146 Market Data Tables and 30 Figures spread through 308 Pages and in-depth TOC on "Global Autism Spectrum Disorder Therapeutics Market, by Drug Type (Aripiprazole, Risperidone, Melatonin, CM-AT, Bumetanide, and Balovaptan), by Age Group (Child and Adult), by Distribution Channel (Hospital Pharmacies, Retail Pharmacies, and Online Pharmacies), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2027"
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Furthermore, government organizations are focused on conducting workshops for parents and caregivers of children with developmental disorders, which is expected to aid in the ASD therapeutic market growth. For instance, a workshop jointly led by Pan American Health Organization, World Health Organization, and Autism Speaks is organized annually in the month of August in Buenos Aires, Argentina, to teach skills and raise awareness about autism and its preventive measures.
Key Takeaways of the Autism Spectrum Disorder Therapeutics Market: