According to the latest market report published by Persistence Market Research, titled ‘Global ADHD Therapeutics Market: Continuous innovation by drug manufacturers and lucrative marketing strategies to fuel the demand for ADHD Therapeutics during the forecast period (2015-2024)’, revenue from the global ADHD therapeutics market is expected to expand at a CAGR of 6.2% during forecast period 2015 – 2024.
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The market is segmented based on drug type, age group, distribution channel, and region. On the basis of drug type, the market has been broadly segmented into stimulants (Amphetamine, Methylphenidate, Dextroamphetamine, Dexmethylphenidate, and Lisdexamfetamine Dimesylate) and non-stimulants (Atomoxetine, Bupropion, Guanfacine, and Clonidine). By drug type, the Lisdexamfetamine Dimesylate drug type sub-segment is expected to register highest CAGR of 15.6% in terms of value over the forecast period.
The longer effectiveness of the treatment and easier availability is expected to contribute to its growing adoption. The Lisdexamfetamine Dimesylate drug type sub-segment is expected to reach a market value of US$ 5,682.2 Mn by 2024 end. Stimulants are expected to emerge as the most preferred drug type for both patients and physicians globally over the forecast period. The second-most popular drug type sub-segment is Amphetamine, expected to register a CAGR of 4.2% during the forecast period.
Rising prevalence of ADHD owing to the low threshold of diagnostic criteria, increasing awareness regarding ADHD, and shift from ICD-10 to DSM-IV are major factors driving the growth of the global ADHD therapeutics market currently. Other trends driving market growth are increasing concerns among parents and cultural differences towards ADHD, rising ADHD drug usage in adults, and novel drug development.
Generic drug manufacturers in the global ADHD therapeutics market are focusing on introducing cheaper and effective generic ADHD drugs to increase market share, the post-patent expiry of prescription drugs. Furthermore, adoption of alternative treatment methods and drug abuse are factors hampering the growth of this market.
This report assesses trends driving each market segments and sub-segments and offers analysis and insights into the potential of ADHD therapeutics therapies in specific regions. North America is estimated to dominate the global ADHD therapeutics market, with a maximum value share of the overall market by the end of 2016. By 2024, North America and Europe markets are expected to account for over four-fifths share of the global ADHD therapeutics market revenue. In terms of value, North America is estimated to be the dominant market, registering a CAGR of 5.9% over the forecast period.
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Some key companies covered in this report include Eli Lilly and Company, Novartis AG, Shire PLC, Pfizer, Inc., GlaxoSmithKline PLC, Mallinckrodt Pharmaceuticals, Hisamitsu Pharmaceutical Co., Inc., Impax Laboratories, Inc., Johnson & Johnson, UCB S.A., and Purdue Parma L.P. These companies are primarily focused on enhancing their product portfolio through research and development and on introduction of innovative and cost-effective treatment procedures in order to gain higher market share and to strengthen their respective positions in the global market.