Market Trends of Global Autism Spectrum Disorders Treatment Industry
This section covers the major market trends shaping the Autism Spectrum Disorders Treatment Market according to our research experts:
Autistic Disorder Segment is Expected to Hold a Major Market Share in the Autism Spectrum Disorders Treatment Market
By type, the autistic disorders segment is expected to hold a significant market share attributing to the factors such as increasing research and development as well as the initiatives undertaken by the market players and government. People with autistic disorder usually have significant language delays, social and communication challenges, and unusual behaviors and interests, and people with autistic disorder also have an intellectual disability.
In November 2021, a group of Indian researchers developed a compound called '6BIO' that can provide a better method to treat Autism Spectrum Disorder (ASD). They have determined the potency of the compound in a pre-clinical mice model. This is the first compound that has been proved in pre-clinical evaluation to have the potential for improving daily activities like learning and recollecting new tasks in patients with ASD/ Intellectual disability (ID).
In addition, in October 2021, Axial Therapeutics obtained funding for a Phase II autism trial with USD 37 million Series C to further work on neurological diseases.
Thus, due to the above-mentioned factors, the market is expected to witness significant growth over the forecast period.
North America is Expected to Hold a Significant Share in the Market and Expected to do Same in the Forecast Period
Within North America, the United States has held a significant share of the market. The major factors contributing to the market growth are the burden of autism spectrum disorders, increasing research and development as well as growing number of investments.
For instance, as per a March 2022 update by the Centers for Disease Control and Prevention (CDC), about 1 in 44 children has been identified with autism spectrum disorder (ASD). Thus, there is a growing need for autism spectrum disorder treatment in the country.
The increasing number of initiatives undertaken by the market players is contributing to the market growth. For instance, in April 2022, XRHealth, the gateway to the healthcare metaverse, reported that their virtual/augmented reality therapy is available in the United States to treat patients with autism. Such developments are expected to fuel the development of drugs, thereby proliferating market growth.
In addition, in June 2021, Cognoa, a pediatric behavioral health company developing diagnostic and therapeutic solutions for children living with behavioral health conditions, reported that the United States Food and Drug Administration (FDA) had granted the company's De Novo classification request for its autism diagnosis aid.
Thus, due to the above-mentioned factors, the market is expected to witness significant growth over the forecast period.
