Global Attention Deficit Hyperactivity Disorder (ADHD) Drugs Market 2019-2023| Reformulation of Marketed Drugs to Boost Growth| Technavio
LONDON--(BUSINESS WIRE)--May 20, 2019--
The global attention deficit hyperactivity disorder (ADHD) drugs market is expected to post a CAGR of close to 6% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the global attention deficit hyperactivity disorder (ADHD) drugs market from 2019-2023 (Graphic: Business Wire)
With the growing prevalence of attention deficit hyperactivity disorder across the world, the ADHD market is witnessing an increase in the number of government initiatives to promote the awareness of the disease and to fund drug development in the area mental health therapeutics. For instance, in 2016, the US Department of Health and Human Services (HHS) donated USD 3,454 million to the Substance Abuse and Mental Health Services Administration (SAMHSA) to address the needs of people with mental illnesses. Such rising government support to help people with ADHD will drive market growth during the forecast period.
As per Technavio, the reformulation of marketed drugs will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global attention deficit hyperactivity disorder (ADHD) drugs market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global attention deficit hyperactivity disorder (ADHD) drugs market: Reformulation of Marketed Drugs
Earlier, the ADHD market was dominated by immediate-release tablets for oral use. However, the short duration of action of these drugs necessitates multiple dosing, thereby decreasing patient compliance. Thus, to combat this situation, vendors in the market are increasingly focusing on the reformulation of various marketed drugs. The reformulation of marketed drugs provides an opportunity to grab patent term extensions, which can delay the entry of generic versions in the market. The reformulation of drugs also helps in reducing the dosage frequency, thereby increasing patient compliance.
“Apart from the reformulation of marketed drugs, several other factors such as the rising incidence rate of ADHD among children, growing off-label use of ADHD medications among children, and the increase in M&A will have a significant impact on the growth of the ADHD drugs market during the forecast period,” says a senior research analyst at Technavio.
Global attention deficit hyperactivity disorder (ADHD) drugs market: Segmentation analysis
This market research report segments the global attention deficit hyperactivity disorder (ADHD) drugs market by product (stimulants, and non-stimulants) and geographic regions (North America, Europe, Asia, and ROW)
The North American region led the market in 2018, followed by Europe, Asia, and ROW, respectively. The growth of the ADHD medications market in North America can be attributed to the rising prevalence of ADHD among the population in the US and the increased availability of approved medication therapy for the treatment.
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PUB: 05/20/2019 09:20 AM/DISC: 05/20/2019 09:20 AM