New York, Aug. 31, 2023 (GLOBE NEWSWIRE) -- The global noradrenergic drug market size is predicted to expand at ~3% CAGR between 2023 and 2035. The market is projected to garner a revenue of USD 23.3 billion by the end of 2035, up from a revenue of ~USD 16 billion in the year 2022.This market growth is largely driven by the increasing prevalence of neurological and psychiatric disorders, such as depression, anxiety, and ADHD, and the growing use of noradrenergic drugs to treat them. Autism spectrum disorder (ASD) is a serious developmental disorder caused by differences in the brain. One in 100 children suffers from autism spectrum disorder (ASD), according to data provided by the World Health Organization (WHO). Also, autism affects 40% of nonverbal individuals. ASD children have a significant intellectual disability (IQ below 70) with significant challenges in daily living, while 27% have a borderline intellectual disability. Noradrenergic drugs, such as atomoxetine, have been found to have positive effects on autism spectrum disorder (ASD).
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These medications work by stimulating the noradrenergic system, which is thought to be involved in the regulation of behavior, emotion, and cognition. This can help improve social functioning, communication, and other cognitive abilities in people with ASD. Additionally, the increasing focus of manufacturers on the development of novel drugs and favorable government policies and regulations are also propelling the growth of the market.
Noradrenergic Drug Market: Key Takeaways
- Market in North America to grow at a highest rate
- Hyperactivity depressants segment to grow at the highest rate
- Market in Asia Pacific to propel highest growth
Increased Investments in the Healthcare Sector and a Rise in Clinical Trials and R&D in the Pharmaceutical Industry to Boost Market Growth
Noradrenergic drugs are used to treat a variety of conditions, such as depression, anxiety, pain, and hypertension. With healthcare systems around the world investing more in healthcare services, the demand for these drugs is expected to increase. As access to healthcare improves, more people will be able to access these drugs, driving up the demand. US healthcare expenditures are massive, accounting for more than 17% of GDP in 2021. A total of nearly USD 28 billion in foreign direct investment was recorded by the Indian healthcare sector between April 2000 and December 2021. Moreover, as clinical trials and research and development increase, the demand for new drugs with novel mechanisms of action increases as well. Noradrenergic drugs are a new class of drugs that target certain receptors in the brain, and this type of drug is expected to be in high demand owing to its potential for treating a variety of conditions. It was observed that mental clinical trials funded by the healthcare industry have accounted for 180 trials, and trials funded by the US government have accounted for 278 trials. The US pharmaceutical industry spent USD 83 billion on research and development in 2019.
Noradrenergic Drug Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Increasing Incidence of Major Depression Among the Population to Boost Market Growth in the North America Region
The noradrenergic drug market in the North American region is estimated to garner the largest revenue by the end of 2035, backed by the rising prevalence of major depression in the region and the increasing demand for newer and better drugs for treatment. According to Mental Health America, there are over 21 million Americans who suffer from major depression every year, making it one of the most common mental illnesses in the country. In youth ages 12–17, 15% of youth are affected by major depression (3.7 million). Serotonin-norepinephrine reuptake inhibitors (SNRIs) are approved to treat depression. These drugs work by increasing the levels of norepinephrine in the brain, which is a neurotransmitter involved in the regulation of mood. By increasing the levels of norepinephrine, these drugs can help lift the mood and reduce the symptoms of depression. Additionally, the rising awareness of mental health issues and the increasing number of initiatives taken by governments and healthcare organizations to improve the diagnosis and treatment of these conditions Furthermore, the growing number of research and development activities in the region contributed to an increase in the availability of novel noradrenergic drugs.
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Rising Awareness of Psychological Disorders along with Increasing Cases of Anxiety among the Population to Drive Market Growth in the Asia Pacific Region
The noradrenergic drug market in the Asia Pacific region is estimated to garner the highest CAGR by the end of 2035, backed by the increasing prevalence of numerous neurological and psychological disorders, such as depression and anxiety, in the region resulting from increased stress levels of modern life. In addition, the increasing awareness of these diseases and the availability of better treatments are expected to boost the growth of the noradrenergic drug market in the region. According to a study, in 2019, almost 47 million people living in China with mental health conditions suffered from anxiety disorders. A total of 41 to 47 million anxiety disorder patients have been recorded since 2001. Noradrenergic drugs such as serotonergic and noradrenergic reuptake inhibitors are believed to exert their effect by activating noradrenergic pathways in the brain, which leads to an increase in the activity of the neurotransmitter norepinephrine. This can help reduce feelings of anxiousness, fear, and panic. Moreover, the increasing healthcare expenditure and a greater awareness of mental health issues, along with the emergence of new drug delivery systems and the development of novel noradrenergic drugs, are also contributing to the regional market growth.
Noradrenergic Drug, Segmentation by Application
- Hyperactivity Depressant
- Control Aggression
- High Blood Pressure
- Others
The hyperactivity depressant segment in noradrenergic drug market is anticipated to hold the largest revenue by the end of 2035, backed by the rising prevalence of attention deficit hyperactivity disorder (ADHD) and increasing awareness about the disorder. Additionally, the increasing use of these drugs as off-label treatments for other conditions such as depression and anxiety is also expected to drive the growth of this segment. In childhood, ADHD is one of the most common neurodevelopmental disorders. Around 5% of children worldwide are estimated to have ADHD. Also, globally in 2020, persistent adult ADHD affects 2.50% of adults, and symptomatic adult ADHD affects 6.71% of adults. People with ADHD often have difficulty concentrating and focusing on tasks, have difficulty controlling impulses, and often show signs of hyperactivity. They may also have difficulty organizing their thoughts and finishing tasks. Noradrenergic drugs work to increase the levels of norepinephrine in the brain, which can improve focus and reduce hyperactivity in people with ADHD. These drugs can also help reduce impulsivity, improve attention span, and improve the ability to regulate emotions. Furthermore, the introduction of new and improved drugs and medications for treating ADHD, along with the increasing number of clinical trials related to the use of these drugs and medications, is also expected to further boost the growth of the hyperactivity depressant segment.
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Noradrenergic Drug, Segmentation by Distribution Channel
- Hospital Pharmacy
- Drug Stores
- Online Pharmacies
- Others
The hospital pharmacy segment in noradrenergic drug market is anticipated to hold the largest revenue by the end of 2035. The hospital pharmacy segment is well-positioned to respond to the needs of patients in a wide variety of settings, including inpatient and outpatient settings, as well as home health care and long-term care facilities. The segment also benefits from the increasing number of prescription drugs being dispensed in hospitals. Additionally, many of the larger hospital chains have their own pharmacies that are better equipped to provide comprehensive services that meet the needs of their patients. Approximately 21% of hospitals owned a specialty pharmacy in 2018, compared with less than 8% in 2016 in the United States. Specialty pharmacies were much more likely to be found in larger hospitals. Nearly three-quarters (78%) of hospitals with more than 589 beds employed hospital pharmacists. A growing number of generic drugs and increasing demand for specialty drugs are also expected to drive segment growth in the coming years. Moreover, the hospital pharmacy segment is expected to have the largest share in the noradrenergic drug market owing to the fact that noradrenergic drugs are deemed to be addictive and have a higher rate of misuse, so prescriptions are needed to purchase these drugs, and these pharmacies have the advantage of being able to supply them readily.
Few of the well-known industry leaders in the noradrenergic drug market that are profiled by Research Nester are Baxter International, Inc., Eli Lilly and Company, Novartis AG, Bayer AG, Sanofi-aventis Groupe, Abbott Laboratories, Johnson & Johnson Services, Inc., Merck & Co., Inc., Siemens Healthcare GmbH, Pfizer Inc., and other key market players.
Recent Development in the Noradrenergic Drug Market
- A non-profit organization called Autism Speaks Inc. announced a grant fund of USD 821,800 to support researchers studying autism. The announcement was made as part of the organization's mission to support research that will lead to better understanding, treatment, and prevention of autism.
- For autistic youth, the U.S. government funded a program called PROMISE that promotes employment readiness through supplemental security income. The program provides training and resources to help autistic youth develop the skills and experience they need to be successful in the workplace.
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