Market Analysis
The amyotrophic lateral sclerosis market
Share was valued at
USD 0.75 billion in 2022. The Amyotrophic Lateral Sclerosis market industry is
projected to grow from USD 0.79 Billion in 2023 to USD 1.13 billion by 2030,
exhibiting a compound annual growth rate (CAGR) of 6.10% during the forecast
period (2023 - 2030).
ALS or
Amyotrophic Lateral Sclerosis is a neurological ailment which affects the nerve
cells in the spinal cord and the brain that controls the voluntary muscles’
activities. Some of the common symptoms of ALS include cramps, muscle weakness,
respiratory problems, and fasciculation. This is a progressive neurological
disease where gradually patients become dependent on physicians and caregivers
increasingly. Often ALS results in respiratory failure as the patient loses the
ability of
There are
many factors that are driving the growth of the amyotrophic lateral sclerosis
market. Some of these factors as per the Market Research Future (MRFR) report
include rising incidences of ALS, increase in awareness among patients,
increase in geriatric population, FDA approvals and initiatives taken by the
government on R&D activities. On the other hand, factors such as low
treatment availability and high treatment cost may hinder the growth of the
amyotrophic lateral sclerosis market.
Regional Analysis
Based on region, the amyotrophic lateral sclerosis market covers growth opportunities and latest trends across North America, Europe, Asia Pacific, and the Middle East and Africa. Of these, North America will lead the market during the forecast period owing to support from the government for R&D, rising pool of awareness, the existence of many leading market players, increasing incidence of hypertension, and advanced medical facilities. Canada and the USA are the largest contributors in this region. Europe will have the second largest share in the amyotrophic lateral sclerosis market during the forecast period. The UK, Germany, and France will be the largest contributors in this region. In the APAC region, the amyotrophic lateral sclerosis market is anticipated to grow rapidly owing to the rapidly expanding healthcare infrastructure, increasing the incidence of ALS, the presence of the growing economies mainly India and China, and increasing setups of R&D centers. South Korea, Japan, and Australia are the other vital country-specific markets here. On the other hand, the amyotrophic lateral sclerosis market in the Middle East and Africa will have the smallest share owing to poor countries, inadequate healthcare facilities, lack of education, medical facilities having low standard, lack of awareness and lack of advanced and innovative medical facilities.
Feb 2019- Leading technology transfer company, BGN Technologies has lately disclosed about a new AI (artificial intelligence) platform to monitor and predict the development of neurodegenerative diseases in order to identify markers both for improved drug development and personalized patient care. This technology will focus on ALS at an initial stage and later on will be adapted to other neurodegenerative diseases namely Alzheimer’s and Parkinson’s. The latest technology will predict disease progression more accurately, a key component for clinical trials along with better identifying the interrelationships amid demographics and many other measurable factors that are identified through patient functionality and physical examinations. It will allow researchers in creating a system which insurers, HMOs, pharmaceutical companies, caregivers, physicians, and patients can use on mobile applications and desktop for monitoring and predicting ALS progression.
Key Players
The
amyotrophic lateral sclerosis market players include
·
Sun Pharmaceutical (India),
·
Sanofi (France),
·
Mylan N.V. (USA),
·
Mitsubishi Tanabe Pharma America (USA),
·
ITF Pharma (USA),
·
Ionis Pharmaceutical (USA),
·
Covis Pharma (Switzerland),
·
Biogen (USA),
·
Ascend Pharmaceuticals LLC (USA) and
·
Apotex Inc. (Canada).
Market Segmentation
As per the
MRFR report, the amyotrophic lateral sclerosis market
outlook is
segmented into type, treatment, and end user.
·
Based on type,
it is segmented into sporadic ALS and familial ALS. Of these, the sporadic ALS
segment will dominate the market during the forecast period.
·
Based on treatment, the amyotrophic lateral sclerosis market is segmented into speech
therapy, respiratory therapy, physical therapy, medication, and others.
·
Based on end-users, it is segmented into specialty centers, research and academic
institutes, hospitals and others. Of these, the hospital segment will have the
highest growth during the forecast period.
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