Market Research Future (MRFR) has published a cooked research report on the “Global Dyslexia Treatment Market” that contains the information from 2018 to 2027.
The dyslexia treatment market is expected to register a CAGR of 7.10% during the forecast period 2021-2027, to reach USD 38,514.67 million by 2027.
MRFR recognizes the following companies as the key players in the global dyslexia treatment market— Pfizer, Inc. (US), Speechify Inc. (US), Jubilant Pharma Limited (Singapore), Lingit AS (Norway), Soli (UK), Novartis AG (Switzerland), Lyfta (UK), GlaxoSmithKline (UK), Teva Pharmaceutical Industries Ltd (Israel), Eli Lilly & Company (US), RPG Life Sciences Ltd (India), Hopalai D.O.O. (Slovenia).
The global dyslexia treatment market is expected to have a market value of USD 38,514.67 million by 2027.
Dyslexia is a medical condition where the patient faces difficulty in writing, reading, and remembering unfamiliar or difficult words. It can find in various regions of people. It can be treated at an early age of the children by employing special teaching techniques. There are various online programs and organizations that help to improve the reading and learning problems of dyslexia disorder.
The growth of the dyslexia treatment market is expected to be driven by the factors like increasing prevalence of dyslexia and increasing app development activities to treat dyslexia. Moreover, a growing number of virtual reality-based educational software is expected to fuel the global dyslexia treatment market growth. However, lack of awareness about dyslexia, its symptoms, and underdiagnosis acts as a restraining factor for market growth.
The global dyslexia treatment market is segmented into type, treatment and diagnosis, end-user, and region. The type segment is further segmented into phonological dyslexia, surface dyslexia, and others. The treatment and diagnosis segment is further segmented into treatment and diagnosis. The end-user segment is segmented into specialty centers, home care, hospitals and clinics, and others.
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The global dyslexia treatment market, based on region, has been divided into North America, Europe, Asia-Pacific, and the Rest of the World.
North America accounted for a significant share in the market owing to the developed healthcare infrastructure, favorable government policies, presence of major key companies headquarters in the region such as Jubilant Cadista (US) and Speechify (US), and high prevalence of dyslexia. For instance, according to the Dyslexia Center of Utah, one in five students, i.e., 15%-20% of the US population, have a learning-based disability, most commonly dyslexia. Furthermore, there are several not-for-profit organizations based in the region with a global presence. These organizations increase awareness regarding dyslexia and provide support to patients and their families. One such organization is the International Dyslexia Association (IDA), based in the US. IDA has over 40 branches along with 24 global partners. Additionally, the region houses a large number of special schools specifically for children with dyslexia.
Further, Europe accounted for a sizable portion of the global dyslexia treatment & diagnosis market. Like North America, Europe also faces a high prevalence of dyslexia. For instance, according to an article published in December 2019 by The Institute of Entrepreneurship Development (iED), 15% of the European population suffers from dyslexia. Additionally, of the 15% affected by dyslexia, a large number of them suffer from other co-morbid disorders. Around 20-55% of people with dyslexia suffer from dyslexic, 20-40% from dyscalculia, and 10-20% from anxiety disorders. There are around 6 million residing in the UK itself. Hence, there is a high demand for quality treatment and diagnostics capabilities in the region.
Asia-Pacific is the fastest-growing regional market for the dyslexia treatment & diagnosis market as it is developing rapidly and has witnessed the emergence of many players. There is also a high prevalence of dyslexia driving the market growth. According to the Department of Biotechnology, in 2019, around 35 million children in India were suspected to be dyslexics. Additionally, countries in the Asia-Pacific regions have also developed their own dyslexia assessment tests to correctly identify the dyslexic population within the country and provide appropriate care.
The rest of the world region showed restricted growth owing to a lack of mental health awareness and facilities. In Africa, one in ten people is suspected of having dyslexia. Organizations such as Dyslexia International are running initiatives to train teachers to handle students with dyslexia and facilities like e-learning and e-campus for dyslexic children in Africa. The region's market growth is majorly due to the presence of developed countries in the Middle East, especially the Gulf countries.
Key Findings of the Study