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Tardive Dyskinesia Drugs Market Forecasts up to 2024, Research Report - Coherent Market Insights
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Increasing incidence of neurological disorders to drive growth the Tardive Dyskinesia Drugs Market
According to Mental Health America, the occurrence of tardive dyskinesia is estimated to be 10 to 20% of patients who are earlier treated with long term anti-psychotic medications. According to Neurocrine’s Chief Medical Officer, Chris O’Brien, all doctors and psychiatrists now accept Tardive dyskinesia as a prevalent condition. However, according to Neurocrine Bioscience, there are still an estimated 500,000 people in the U.S., who are affected by Tardive Dyskinesia each year. Lack of awareness on TD and its medication can hinder growth of global tardive dyskinesia drugs market.
Valbenazine to gain the major market share in TD Drugs Market globally
The global tardive dyskinesia drugs market is segmented on the basis of the sub-types, drugs, end user, and geography. On the basis of sub-type, the global market is divided into choreoathetosis, tardive dystonia, blepharospasm, and tardive akathisia. On the basis of drugs, the Global Market is divided into Valbenazine, Tetrabenazine, and others (deutetrabenazine and VMAT2 inhibitor). On the basis of end user, the global market is divided into hospitals, pharmacies, drug stores, and e-commerce.
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Increased use of long-term neuroleptic drugs increases the risk of tardive dyskinesia, which proportionally boost the tardive dyskinesia drugs market
Regional segmentation in TD Drugs Market by Coherent Market Insights comprises North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America accounts for the largest share in tardive dyskinesia drugs industry. For instance, according to Virtual Medical Center, Australia, tardive dyskinesia is observed in around 15-30% of patients in the U.S. who have been prescribed with long-term neuroleptic drugs administration. Patients with mood disorders such as depression, anxiety disorders, and bipolar affective disorder are at greater risk of developing tardive dyskinesia as compared to people suffering from schizophrenia. The symptoms of tardive dyskinesia will remit within 3 months of stopping neuroleptic drugs for 1 in 3 patients with tardive dyskinesia. Thus, the increase in prevalence of mental disorders would boost the tardive dyskinesia drugs market growth.
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Strong clinical trial pipeline to treat Tardive Dyskinesia is expected to boost the market for Tardive Dyskinesia Drugs Market in near future
Key players operating in the tardive dyskinesia market include Valeant Pharmaceuticals, Neurocrine Biosciences, and Teva Pharmaceutical Industries. There are quite a few companies in Tardive Dyskinesia Market, which are striving hard to understand the mechanism to treat dyskinesia and are constantly working towards developing innovative drugs in order to provide accurate test results. Teva pharmaceutical is also conducting clinical trials of deutetrabenazine for tardive dyskinesia that were started by Auspex Pharmaceutical in 2015.
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