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Tourette Syndrome Treatment Industry Share And Forecast To 2033
Tourette Syndrome Treatment Industry Share
According to The Business Research Company's, The tourette syndrome treatment market size has grown strongly in recent years. It will grow from $2.23 billion in 2023 to $2.37 billion in 2024 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to advancements in pharmacotherapy, clinical research and understanding, development of supportive therapies, improvements in diagnosis and awareness, and regulatory approvals and guidelines.
The tourette syndrome treatment market size is expected to see strong growth in the next few years. It will grow to $3.04 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to advancements in precision medicine, expansion of telehealth services, integration of digital health solutions, increased research funding, and the rise of complementary and alternative therapies. Major trends in the forecast period include gene therapy advances, expanded access to care, non-pharmacological interventions, global collaborative initiatives, and the emergence of behavioral therapies.
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Market Drivers and Trends:
The increase in healthcare expenditure is expected to propel the growth of the tourette syndrome treatment market going forward. Healthcare expenditure refers to the total amount of money spent on healthcare goods and services, including medical treatments, medications, hospitalizations, and preventive care, within a specified period, reflecting the overall cost of healthcare provision within a population. Healthcare expenditure is rising due to the increasing cost of advanced medical technologies, aging populations, and the prevalence of chronic diseases. Healthcare expenditure in Tourette syndrome treatment is utilized for developing advanced diagnostic tools, medications, and behavioral therapies. It also supports ongoing research, patient education, and access to specialized care services. For instance, in January 2024, according to the National Institutes of Health, a US-based government agency, healthcare expenditure in the US rose by 4.1% in 2022 to reach $4.5 trillion, representing a faster growth rate compared to the 3.2% increase observed in 2021. Therefore, the increase in healthcare expenditure is driving the growth of the tourette syndrome treatment market.
Major companies operating in the tourette syndrome treatment market are focused on developing technologically advanced products, such as wearable neuromodulation devices, to gain a competitive edge in the market. A wearable neuromodulation device is a portable electronic device designed to deliver targeted electrical or magnetic stimulation to specific nerves or brain regions to modulate neural activity. It is often used to treat neurological disorders, manage pain, or enhance cognitive functions. For instance, in August 2021, Neurotherapeutics Solutions Ltd., a UK-based medical device company, launched a wearable neuromodulation device designed to help control the symptoms of tourette's syndrome. This stimulation is designed to entrain rhythmic electrical brain activity associated with the suppression of movements, ultimately reducing tic frequency, tic intensity, and the urge-to-tic in individuals with tourette syndrome.
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Major Key Players of the Market:
F Hoffmann-La Roche AG, AbbVie Inc., Bayer AG, Sanofi S.A., Bristol-Myers Squibb, AstraZeneca PLC, Novartis International AG, Takeda Pharmaceutical Company Limited, Eli Lilly and Company, Viatris Inc., Otsuka Pharmaceutical Co. Ltd., Biogen Inc., Eisai Co. Ltd., Jazz Pharmaceuticals plc, Mitsubishi Tanabe Pharma Corporation, Kyowa Kirin Co. Ltd., Amneal Pharmaceuticals, Mallinckrodt Pharmaceuticals, Neurocrine Biosciences, Sunovion Pharmaceuticals Inc., Supernus Pharmaceuticals, Lundbeck AS, Voyager Therapeutics Inc., NeuroSigma Inc.
Tourette Syndrome Treatment Market 2024 Key Insights:
• The tourette syndrome treatment market size is expected to see strong growth in the next few years. It will grow to $3.04 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%.
• Healthcare Expenditure's Influence On Tourette Syndrome Treatment Market Growth
• Innovative Neuromodulation Devices For Tourette Syndrome Treatment
• North America was the largest region in the tourette syndrome treatment market in 2023
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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