THE AUTISM TREAMENT MARKET IS BOOMING
Due to high demand and rising awareness, the Autism Treatment Market is currently the fastest growing industry in the medical sector.
In 2018, the Autism Treatment Market in the US generated a revenue of $1911.7 Million
The market is predicted to have a massive compound annual growth rate of 4.3%
HIGH DEMAND + LOW SUPPLY = BUSINESS OPPORTUNITY
HIGH DEMAND: Autism Spectrum Disorder (ASD) is the fastest-growing developmental disorder in the US, and demand for ASD care is increasing significantly.
In the last two decades, Autism prevalence as reported in the scientific literature has increased by more than 600%. Currently, the CDC estimates that 2.5% of U.S. children have autism.
LOW COMPETITION: The number of new treatment facilities has not kept up with demand, creating a shortage of providers in the market. The per capita supply of certified ABA facilities falls below the benchmark in 49 states. Specifically, no state has more than one-third of the minimum number of ABA providers needed to meet the needs of the number of children with autism.
SOCIAL ACCEPTANCE OF TREATMENT: In the past, a social stigma was associated with therapy and often deterred people from seeking treatment. This has changed in recent years due to social influence (especially from celebrities) and increased awareness. Therapy is no longer something that people are ashamed of.
MEDICAL COMMUNITY’S SUPPORT: Support for Applied Behavior Analysis (ABA) therapy is growing. ABA therapy is widely recognized as the most effective, evidence-based treatment for ASD, leading significantly more patients to seek treatment.
It is endorsed by the U.S. Surgeon General and the American Academy of Pediatrics. In 2014, the CDC published a study that recognizes that early diagnosis and ABA therapy improves quality of life.
FAVORABLE GOVERNMENT REGULATIONS: In the past, ABA therapy was not covered by health insurance. Since 2007, the federal government has mandated publicly-funded health insurance plans to cover ABA therapy in children with Autism. Since 2014, the Affordable Care Act covers ABA therapy as an essential health benefit and expands coverage up to age 25 years old.
The IDEA Act requires public schools to make appropriate accommodations for individuals with special needs. School based services are also required under the integration mandate of the Americans with Disabilities Act. According to Section 504 of the Rehabilitation Act, a school that refuses to accommodate an ABA provider on campus is discriminating against a child who has a disability.
LONG RANGE CARE: ASD is a life-long diagnosis, and requires intervention throughout a person’s life for best outcomes. The typical SOS client receives 40 hours or therapy per week and remains in the program for 3-5 years.
INDEPENDENT MARKET RESEARCH STUDY
As per Fortune Business Insights, The Autism Spectrum Disorder Therapeutics Market was valued at US $3,293.0 Mn in 2018 and is anticipated to reach US $4,612.1 Mn by 2026.
Rapidly growing incidences of autism spectrum disorder globally and the growing number of unmet needs in the treatment of autism spectrum disorder are the major key factors likely to drive the markets industry in forthcoming years.
In terms of treatment type, the communication & behavioral therapy segment (ABA, Speech Therapy, Occupational Therapy and others) is the dominating segment of the market share and is projected to continue its dominance throughout the forecast period.