The rising number of ADHD patients globally
According to the survey done by the Centers for Disease Control and Prevention (CDC) in 2016, 0.388 million children aged 2–5 years, 4 million children aged 6–11 years, and 3 million children aged 12–17 years were diagnosed with ADHD in the United States.
Rising incidences of ADHD across the globe can be attributed to the low threshold of diagnostic criteria. The number of ADHD patients is rising at an alarming rate, as there is no established treatment for this disorder except for long medication procedures. Pharmacological treatments through CNS stimulants such as amphetamine are the most appropriate way to treat ADHD patients. Such factors are expected to fuel revenue growth of the global amphetamine drug market.
Continuous Innovation by ADHD drug manufacturers
Market key players are continuously focusing on both, ADHD children and adults. For children, drugs are being manufactured with innovative ideas such as introducing fruit-flavors pills for easy consumption, while for adults, the focus is on reducing their daily dose by providing those doses with long-lasting effects. The packaging is another area of innovation, where blister packs are introduced instead of bottles to facilitate quick and convenient use. Manufacturers are also focusing on offering products, comparatively at lower costs. This factor is anticipated to increase the demand for amphetamine drugs in the coming years.
The global amphetamine drug market is expected to expand at a significant CAGR during the forecast period i.e., 2020-2028. The amphetamine drug market is segmented by application, by demography, by distribution channel, and by region. Based on the application, the amphetamine drug market is segmented into ADHD, narcolepsy, obesity, depression, and others. Out of these, the depression segment is anticipated to dominate the market owing to the increase in the prevalence of depression among adults and children around the world. On the basis of demographics, the amphetamine drug market has been bifurcated into children and adults. Among the demographic segment, the adult segment is anticipated to hold the largest share in the market which can be attributed to a large adult patient population. The amphetamine drug market is thriving on the back of increased research and development activities with the simultaneous approval of drugs. Additionally, the surge in central nervous system disorders, sleeping disorders, and depression cases along with a shift in consumer awareness regarding mental health is also expected to play a crucial role in driving the market growth. The rising number of people suffering from various disorders has caught the attention of governments around the world, forcing them to support the ADHD drug market to address this condition. Government approvals and commercialization of drugs by market players are some of the major factors that are anticipated to drive the growth of the market during the forecast period.
Presently, during COVID-19 pandemic individuals with attention-deficit hyperactivity disorder are facing difficulties, due to their vulnerability to the suffering caused by the pandemic and physical distancing methods. As a result of this current course of action, individuals with ADHD might display increased behavioral problems. On the back of this, the amphetamine drug market is estimated to witness significant growth.
Adverse effects associated with amphetamine drugs
Amphetamine generally involves larger and longer doses, which can develop some greater risk to the quality of a patient’s life. There are physical and psychological effects of this drug. The physical effects consist of cardiovascular side effects, gastrointestinal side effects, and other physical side effects such as blurred vision, nose bleeding, dry mouth, and others. Whereas, psychological side effects contain apprehension, mood swings, insomnia, wakefulness, and others. A large number of contraindications and side-effects associated with amphetamine drugs are limiting prescriptions based on the therapeutic condition of patients. Despite all the advantages, contraindications and side-effects associated with amphetamine drugs are hampering the life of patients, which is estimated to restrict the growth of the amphetamine drugs market over the forecast period.
In-depth analysis of the global amphetamine drug market includes the following segments:
By Application Type:
By Demography Type:
By Distribution Channel Type:
By Region Type
On the basis of regional analysis, the global amphetamine drug market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
Based on the region, the market in North America is anticipated to dominate the global market and account for prevalence in the higher number of depression and ADHD patients. Thus, a large volume of drug is being prescribed every year. Additionally, collaborations among market key players to increase market penetration for product development and effortless commercialization of the product. Such factors are anticipated to boost the market growth of the region are estimated to bring in more revenues in the market. The second-largest market share is anticipated to be held by the market in Europe owing to the presence of massive pharmaceutical companies along with increasing awareness about mental health in the region. The market in Asia Pacific region is expected to expand at a higher rate during the forecast period owing to the upsurge in the demand for drugs for the treatment of various disorders problems such as ADHD.
The global amphetamine drug market is further classified on the basis of region as follows:
In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.