Dyslexia Treatment Market is Estimated to Witness High Growth Owing to Advancements
Global dyslexia treatment market is estimated to be valued at USD 7.59 Bn in 2024 and is expected to reach USD 11.74 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.4% from 2024 to 2031.
Key Takeaways
Key players operating in the dyslexia treatment market are Pfizer, Inc., Teva Pharmaceutical Industries Ltd., Novartis AG, Jubilant Pharma Limited, GSK plc, Eli Lilly and Company, Otsuka Holdings Co., Ltd., Apotex Corporation, Purdue Pharma, Rhodes Pharmaceuticals L.P., Cian Healthcare Pvt. Ltd., Wallace Pharmaceuticals Ltd., The Himmel Group, Astrazeneca, Sun Pharmaceutical Industries Ltd., Takeda Pharmaceutical Company Limited, and Lupin. The increasing adoption of e-learning platforms during the pandemic has opened new avenues for ed-tech companies offering dyslexia screening and treatment software. Advancements in non-invasive brain stimulation therapies like repetitive transcranial magnetic stimulation and transcranial direct current stimulation promise non-drug alternatives for Dyslexia Treatment Market Size.
Market Drivers
The primary driver propelling the dyslexia treatment market growth is the rising prevalence of dyslexia globally. As per statistics, dyslexia affects 5-20% of the worldwide population. Growing awareness about dyslexia as a learning disorder rather than low intelligence is encouraging more people to seek diagnosis and treatment. Favorable government initiatives for dyslexia screening and subsidies on recommended therapies are bolstering the uptake of dyslexia treatment options. Furthermore, the development of novel drug formulations and brain stimulation devices with greater efficacy and safety is attracting more patients towards scientifically proven dyslexia interventions.
Challenges in Dyslexia Treatment Market
Dyslexia is a complex neurodevelopmental disorder which affects the reading abilities. People suffering from dyslexia face difficulties in recognizing speech sounds and learning relationships between letters and sounds easily which makes reading and spelling an impossible task for them. With growing awareness among parents and doctors, more and more cases of dyslexia are being diagnosed which has increased the demand for dyslexia treatment options. However, the dyslexia treatment market still faces various challenges which need to be addressed.
One of the major challenge is lack of universally accepted diagnostic criteria for dyslexia. Diagnosis of dyslexia relies on identification of reading skills deficits but there are no standardized psychological assessments or tests to diagnose dyslexia. Different health care practitioners follow different methods to diagnose dyslexia which creates confusion. Lack of a universally accepted screening test to identify dyslexia at an early stage is another challenge. Early identification and intervention is key to dyslexia management but lack of screening tests delays diagnosis and treatment.
Swot Analysis
Strength: Growing awareness about dyslexia and available treatment options is driving the market growth. Advancements in brain training and other therapies have improved outcomes.
Weakness: Lack of universally accepted diagnostic criteria and screening tests creates challenges in diagnosis and limits market growth. High cost of specialized therapies remains an affordability issue.
Opportunity: Development of digital and mobile based screening and diagnostic tools present an opportunity. Next generation therapies focusing on reading skills and neuroplasticity hold promise.
Threats: Social stigma associated with dyslexia prevents many from acknowledging and seeking help. Lack of insurance coverage and reimbursement policies pose reimbursement challenges.
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