Number of pages: 100 | Report Format: PDF | Published date: April 19, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023-2031
According to the deep-dive market assessment study by Growth Plus Reports, the global dyslexia therapeutics market was valued at US$ 3.95 billion in 2022 and is expected to register a revenue CAGR of 7.1% to reach US$ 7.32 billion by 2031.
Dyslexia Therapeutics Market Fundamentals
Dyslexia therapeutics refers to the various treatment options and medications that are used to manage the symptoms of dyslexia. Dyslexia is a learning disorder affecting a person’s reading, writing, and spelling ability. While there is no cure for dyslexia, various treatment options can help individuals manage their symptoms and improve their reading and writing skills. Dyslexia therapeutics may include medications such as antihistamines and CNS stimulants and other educational interventions, cognitive-behavioral therapy, and speech therapy. The goal of dyslexia therapeutics is to improve a person’s ability to read and write and to help them manage the associated symptoms of dyslexia, such as difficulty with phonological processing, memory, and attention. The market revenue is expected to grow during the forecast period as more individuals seek treatment for dyslexia and related conditions and new treatment options become available.
Dyslexia Therapeutics Market Dynamics
Dyslexia is a common learning disorder that affects a significant portion of the population, particularly children. The increasing awareness of the condition and its prevalence has led to a rise in demand for the global dyslexia therapeutics market. For instance, according to the European Dyslexia Association October 2020 article, dyslexia affects 9-12% of the population globally, regardless of culture or language, and can be severe in 2 to 4% of the population. There have been significant advancements in diagnostic technologies for dyslexia, which have made it easier to identify the condition in individuals. This has led to a rise in diagnosis rates and, consequently, an increase in demand for dyslexia therapeutics.
Additionally, as everyone’s dyslexia condition is different, there is a rising need for tailored treatment alternatives. As a result, more tailored and effective dyslexia therapies have been developed. Furthermore, the significant investment in research and development for dyslexia therapeutics is also fueling the revenue growth of the global dyslexia therapeutics market. Several governmental organizations across the globe have launched initiatives to support individuals with dyslexia, which resulted in increased awareness and demand for the global dyslexia therapeutics market.
However, despite the increasing prevalence of dyslexia, there is still limited awareness and understanding of the condition in many parts of the world. This lack of awareness can result in a low diagnosis rate and limited demand for dyslexia therapeutics. Many dyslexia therapeutics are costly, which can limit their accessibility to individuals who may not be able to afford them. This can limit the revenue growth of the dyslexia therapeutics market. Moreover, Dyslexia therapeutics may face regulatory challenges in some regions, which can impact their availability and adoption. The regulatory process for approval can be lengthy and costly, limiting the development and availability of dyslexia therapeutics. Despite increasing research & development investments, there is still a limited understanding of dyslexia and its underlying causes. This can limit the development of effective dyslexia therapeutics. Additionally, side effects of dyslexia therapeutics and regulatory challenges are some of the restraints impeding the overall dyslexia therapeutics market revenue growth.
Dyslexia Therapeutics Market Ecosystem
The global dyslexia therapeutics market is analyzed from four perspectives: drug class, distribution channel, and region.
Dyslexia Therapeutics Market by Drug Class
Based on the drug class, the global dyslexia therapeutics market is segmented into antihistamines, CNS stimulants, anti-myoclonic, and others.
The antihistamines segment dominated the market with the largest revenue share in 2022. Antihistamines may be effective in treating dyslexia because they can reduce histamine levels in the brain. Histamine is a neurotransmitter involved in various physiological processes related to learning and memory. By reducing histamine levels, antihistamines may be able to improve cognitive function and reduce the symptoms of dyslexia. Antihistamines such as cyclizine, dimenhydrinate, and meclizine are used to treat dyslexia. These factors contribute to the revenue growth of the antihistamine segment.
The CNS stimulants segment dominated the market with the second-largest revenue share in 2022. Central nervous system (CNS) stimulants are a type of medication that can improve cognitive function and reduce symptoms such as inattention and hyperactivity. CNS stimulants may be effective in treating dyslexia because they can improve the functioning of the brain’s prefrontal cortex, which is involved in various cognitive processes, including attention, memory, and learning. By improving the functioning of this area of the brain, CNS stimulants may improve cognitive function and reduce the symptoms of dyslexia. Currently, several CNS stimulants are available on the market as a treatment option for dyslexia. These include drugs such as methylphenidate and amphetamines. These factors contribute to the revenue growth of the CNS stimulants segment.
Dyslexia Therapeutics Market by Distribution Channel
Based on the distribution channel, the global dyslexia therapeutics market is segmented into hospital, retail, and online pharmacies.
Due to the large footfall, the hospital pharmacies segment dominated the market with the largest revenue share in 2022. Hospital pharmacies may stock a range of dyslexia therapeutics, including antihistamines, CNS stimulants, and other medications that may be used to manage dyslexia. These medications may be prescribed by healthcare providers and dispensed by hospital pharmacists, who ensure patients receive the correct medication in the appropriate dosage. In addition to dispensing medication, hospital pharmacies may also provide education and counseling to patients about their medications and how to manage their symptoms. They may work closely with healthcare providers to monitor patients’ progress and adjust their medication regimens. These overall factors contribute to the revenue growth of the hospital pharmacies segment.
The online pharmacies segment dominated the market with the largest revenue share in 2022. Online pharmacies offer patients the convenience of ordering and delivering medications directly to their homes. Patients may be able to order these medications online and have them delivered directly to their homes, making it easier to manage their symptoms without having to leave their homes. These factors contribute to the revenue growth of the online pharmacies segment.
Dyslexia Therapeutics Market by Region
Based on region, the global dyslexia therapeutics market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America dominated the global dyslexia therapeutics market with the largest revenue share in 2022, attributed to the strong healthcare infrastructure, favorable government regulations, and a significant strategic firm. Companies across the region are continuously involved in raising funds to improve their existing process in the dyslexia therapeutics field, which is also expected to improve the dyslexia therapeutics market outlook. Additionally, some for-profit and non-profit organizations in the region are dedicated to raising awareness about dyslexia, boosting the regional market. For instance, in April 2023, Dyslexia Canada collaborated with Humber College’s Film and Television Production students to develop a striking PSA arguing for universal screening and enhanced dyslexia awareness. The film, which features dyslexic actors and crew members, underscores the necessity of universal screening and assistance in assisting children with dyslexia to attain their full potential. Dyslexia is Canada’s most prevalent learning problem; however, it is frequently misdiagnosed.
Similarly, due to the rising population, increased use of digital technology in education, supportive regulatory changes, rising healthcare infrastructure spending, increased prevalence of neurological disorders, and rising personal disposable income in emerging nations such as China and India, the Asia Pacific regional revenue share is expected to be growing during the forecast period. The Asia Pacific market revenue growth is also expected to be driven by operations performed by various organizations and NGOs to identify and cure such diseases.
Dyslexia Therapeutics Market Competitive Landscape
The prominent players operating in the global dyslexia therapeutics market are:
Dyslexia Therapeutics Market Strategic Developments
The global dyslexia therapeutics market was valued at US$ 3.95 billion in 2022.
North America dominated the global dyslexia therapeutics market with the largest revenue share in 2022.
The expected size of the global dyslexia therapeutics market in 2031 is US$ 3.95 billion.
The revenue CAGR of the dyslexia therapeutics market during the forecast period is expected to be 7.1% from 2023 to 2031.
Some prominent players operating in the global dyslexia therapeutics market are Pfizer Inc., RPG Life Sciences Ltd., Wallace Pharmaceuticals Ltd., Micro Labs Ltd., and Novartis AG.
*Insights on financial performance are subject to the availability of information in the public domain