Healtcare Autism Disorder Treatment Market1 - Page 2

Another factor leading to growth of the autism disorder treatment market is increasing initiatives undertaken by governments as well as non-governmental organizations for treatment of Autism and promote the available treatment options for increasing life expectancy and quality life of the patients. For instance, in May 2014, a resolution was adopted at the 67th World Health Assembly entitled “Comprehensive and Coordinated Efforts for the Management of Autism Spectrum Disorders (ASD)” that was supported by over 60 countries across the globe, to strengthen their national capacities to address autism spectrum disorder. Several other factors supporting growth of the autism disorder treatment market includes development of new medicines, growing research and development activities, increasing awareness about early identification of disease, and others. However, stringent regulations and continuous watch employed by governing authorities for product approval and marketing of medicines can act as potential hindrance for growth of autism disorder treatment market. For instance, in May 2017, the U.S. Food and Drug Administration (FDA) shut down operations of Louisiana-based Pick and Pay Inc. /Cili Minerals, a manufacturer of drug and dietary supplements after finding that the company was falsely marketing products to being able to treat autism. For More Information @ https://www.coherentmarketinsights.com/ongoing-insight/autism- disorder-treatment-market-1607 Regional Insights On the basis of region, the global autism disorder treatment market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds the dominant position in the global autism disorder treatment market, owing to increasing product development by key players in the region, rising number of autistic patients as well as increasing government initiatives for treatment of the disease. According to Centers of Disease Control & Prevention’s (CDC) Autism and Developmental Disabilities Monitoring (ADDM) Network 2014, around 1 in 59 children were identified with autism spectrum disorder (ASD), and was reported to be four times more common among boys than girls. Moreover, according to Talk About Curing Autism (TACA), a U.S.-based non-profit organization dedicated to supporting patients with autism, the disease is the fastest growing developmental disability in the U.S. that cost over US$ 238 billion per year to the nation in 2016. Furthermore, Asia Pacific is expected to witness significant traction in the global autism disorder treatment market in the near future. This is owing to various governmental efforts and non-profit organizations working collaboratively to aid in treatment of the disease by spreading awareness as well supporting patients with medicines and required therapies. For instance, Action for Autism by the National Center for Autism India pioneered autism movement in India and South-Asia for empowering lives of patients suffering with autism through conducting “Global Giving Program” named Ananda and various other initiatives. This non-profit organization is supported by Department of Social Welfare, Government of India, and it is expected to provide medical and economic support to over 3,000 families in India in 2017. Competitive Analysis Key players operating in the global autism disorder treatment market include Janssen Pharmaceuticals, Inc., Actavis, Inc., Curemark LLC, Pediatric Bioscience, Inc., Novartis AG, Teva Pharmaceuticals Industries Ltd, Mylan NV, Pfizer, Inc., Bristol Myers Squibb, Par Sterile Products LLC, F. Hoffman La Roche, and others. Major players are focusing on extensive research and development to receive product approvals from the FDA and introducing new drugs to the market. For instance, in January 2018, Switzerland-based drug maker, Roche, received U.S. FDA grant for its breakthrough therapy, Balovaptan, for treatment of autism spectrum disorder.