Pune, India, May 23, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, the tardive dyskinesia therapeutics market size was valued at USD 2.33 billion in 2022 and is projected to grow from 2.77 billion in 2023 to USD USD 5.09 billion by 2030, exhibiting a CAGR of 9.1% during the forecast period. Tardive Dyskinesia (TD) is a side effect which is caused by the long-term usage of antipsychotic therapeutics. It is common in patients suffering from schizophrenia, schizoaffective disorder, or bipolar disorder. The government authorities, associations, and market players have been introducing initiatives to increase awareness regarding supportive measures implemented for this condition. Fortune Business Insights™ shares this information in its report titled “Tardive Dyskinesia Therapeutics Market, 2023-2030.”
Key Industry Development
- December 2021- Mitsubishi Tanabe Pharma Corporation and Janssen Pharmaceutical K.K. have entered into a co-promotion agreement for a new inhibitor called MT-5199. It is a vesicular monoamine transporter type 2 (VMAT2) inhibitor, which is needed for use as a treatment for tardive dyskinesia in Japan.
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Key Takeaways
- The valbenazine segment is expected to be the leading segment in this market during the forecast period.
- Market players getting regulatory approvals are some of the major factors driving the global market.
- Neurocrine Biosciences and Teva Pharmaceutical Industries Ltd are the leading market players in the global market.
- North America dominated the market in 2022.
- Increasing consumption of antipsychotic drugs leading to growth in the prevalence of this disease is expected to surge the product demand.
Discover the Leading Players Featured in the Report:
SOM BIOTECH (Spain), Luye Pharma Group (China), Mitsubishi Tanabe Pharma Corporation (Mitsubishi Chemical Group Corporation) (Japan), Teva Pharmaceutical Industries Ltd. (Israel), Neurocrine Biosciences, Inc. (U.S.),
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 9.1.% |
| 2030 Value Projection | USD 5.09 Billion |
| Base Year | 2022 |
| Market Size in 2022 | USD 2.33 Billion |
| Historical Data | 2019 to 2021 |
| No. of Pages | 101 |
Browse Complete Report Details: https://www.fortunebusinessinsights.com/tardive-dyskinesia-therapeutics-market-107532
Drivers and Restraints
Rising Cases of Tardive Dyskinesia to Propel the Demand for Therapeutics
Rising cases of tardive dyskinesia are anticipated to drive the tardive dyskinesia therapeutics market growth. One of the main drivers of the market is an increase in the number of cases of TD. An increase in TD prevalence will propel the demand for more effective therapeutics measures for this disease which will drive the market growth during the forecast period. A rising number of government initiatives to escalate the awareness of this disorder in many countries is set to propel market development.
However, a limited number of investments in R&D activities limit the market growth.
Segments
By Drug
- Deutetrabenazine
- Valbenazine
- Others
By Distribution Channel
- Hospital Pharmacies
- Drug Stores & Retail Pharmacies
- Online Pharmacies
By Region
- U.S. (By Drug, By Distribution Channel)
- Europe (By Drug, By Distribution Channel, By Country/Sub-Region)
- Germany
- U.K.
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific (By Drug, By Distribution Channel, By Country/Sub-Region)
-
- China
- Japan
- India
- Australia
- Rest of Asia Pacific
-
Rest of the World (By Drug, By Distribution Channel)
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Regional Insights
U.S. to Lead the Market Share Due to Increasing Awareness Regarding the Disease
The U.S. is expected to have a high part in the tardive dyskinesia therapeutics market share with a valuation of about USD 2.24 billion in 2022. The dominance is due to awareness amongst the population regarding the disease and rising support from many public and private organizations through research grants to accelerate the study of this disease.
Europe has the highest CAGR in the market for tardive dyskinesia therapeutics due to rising cases of TD across the region, which will lead to a surge in demand for its treatment.
The Asia Pacific market is expected to have the second largest share in the market due to increasing research & development activities offering effective treatment solutions for this condition.
The rest of the world includes Latin America and the Middle East & Africa, which witness slow growth due to limited healthcare expenditure and lack of awareness amongst people about the diagnosis and treatment of this disease.
Competitive Landscape
Regulatory Approvals by Neurocrine Biosciences, Inc. to Expand Product Presence
The market is dominated by Neurocrine Biosciences, Inc. due to strong sales. The company is also focused on getting regulatory approvals for the expansion of its product presence. Another dominating tardive dyskinesia therapeutics player is Teva Pharmaceutical Industries Ltd. Another key player of the market is Mitsubishi Tanabe Pharma Corporation, which is focusing on getting regulatory approval for its DYSVAL (valbenazine) product for TD in Asian countries.
FAQ’s
How big is the Tardive Dyskinesia Therapeutics Market?
Tardive Dyskinesia Therapeutics Market size Is USD 2.77 billion in 2023.
How fast is the Tardive Dyskinesia Therapeutics Market growing?
The Tardive Dyskinesia Therapeutics Market will exhibit a CAGR of 9.1% during the forecast period, 2023-2030
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