Market Size of Global Tardive Dyskinesia Treatment Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Tardive Dyskinesia Treatment Market Analysis
The Tardive Dyskinesia Treatment Market is expected to register a CAGR of 4.2% during the forecast period (2022-2027).
COVID-19 has impacted the patient's access to healthcare facilities as the pandemic has forced the patients to wait for life-saving diagnostics as well as treatment procedures. To slow the spread of the virus, many hospitals have reduced or postponed non-emergency services, like screenings and diagnostic scans. According to the article published in Verywellhealth in October 2021, titled "What to Know About Tardive Dyskinesia and COVID-19," mental health disorders showed an association between the presence of any mental illness and an increased need for hospitalization or dying from COVID-19.
This is attributed to the growing number of Schizophrenia Patients and rising incidences of neurological disorders. With the long-term use of antipsychotic drugs by schizophrenia patients, the chances of patients suffering from tardive dyskinesia are high. Thus high risk is associated with a growing number of antipsychotic drugs leading to promoting the growth of the overall market. For instance, as per the World Health Organization Report in January 2022, Schizophrenia affects about 24 million individuals globally or 0.32%. Adults had a rate of 1 in 222 persons (0.45%).
Furthermore, the global prevalence of Parkinson's disease is estimated to be approximately 6.1 million globally, and the prevalence increases with age, reaching 1% to 3% in the population over 65 years of age, as per the research article 'Monoamine Oxidase-B Inhibitors for the Treatment of Parkinson's Disease: Past, Present, and Future' published in February 2022. In addition, the data updated by World Health Organization (WHO) in October 2021 shows that by 2030, 1 in 6 people in the world will be aged 60 years or over. Thus, rising in the prevalence of Alzheimer's disease is expected to rise in the pool population for tardive dyskinesia, thereby increasing the need for treatment, likely to boost the market.
Additionally, Also, the increasing prevalence of epilepsy in Mexico is also one of the factors driving the growth of the market studied. According to Anales Médicos de la Asociación Médica del Centro Médico ABC, in 2020, Epilepsy has a higher prevalence in developing countries and in Mexico. Prevalence of epilepsy in Mexico was reported with rates of 3.9 to 42.2 per 1,000 inhabitants. Thus increasing the prevalence of neurological diseases tardive dyskinesia population is expected to increase, thereby boosting the market studied.
However, side effects of drugs lack awareness about the disorder, and many undiagnosed cases may restrain the market to a certain extent.
