Product ID: SQSG35J2012
Report ID: SQSG35J2012 | Region: Global | Published Date: September, 2022 | Pages: 242 | Tables: 65 | Figures: 75
Global Amyotrophic Lateral Sclerosis Treatment Market size was valued at USD 647.9 million in 2021 and is poised to grow from USD 685.48 million in 2022 to USD 1138.58 million by 2030, growing at a CAGR of 5.8% in the forecast period (2023-2030).
Amyotrophic lateral sclerosis (ALS), also have different names such as Charcot diseases, Lou Gehrig diseases, Motor neuron diseases. ALS is a progressive neurodegenerative disorder that damage the nerve cell in central nervous system responsible for controlling the voluntary muscles. Some of the common symptoms include muscle twitching, stiff muscles, and weakness due to a decrease in the size of muscles of the legs or arms. Around half of the people suffering from ALS may lose the ability to swallow, breathe, speak, walk, and use their hand.
According to the National Institute of Neurological Disorders and Stroke (NINDS), following gradual paralysis, patients with ALS often die from respiratory failure within 3-5 years. It also states that between the two types of ALS, the sporadic type is the most common form, accounting for 90-95% of all cases in the U.S. while the familial type accounts for the rest. Familial ALS (FALS) is hereditary, where there is a 50% chance of inheriting the genetic mutation for each offspring and eventually developing the disorder. In 25-40% of the people suffering from familial ALS, the defect is most commonly found in the C9ORF72 gene. Mutation in this gene also leads to a condition known as frontotemporal dementia (FTD), which may develop along with ALS as comorbidity referred to as ALS-FTD.
Although there is no cure for ALS, treatments such as medications and stem cell therapies can help in the management of the symptoms, prevention of unnecessary complications and slow down the disease progression. These factors are expected to further drive the global amyotrophic lateral sclerosis treatment market growth.
US Amyotrophic Lateral Sclerosis Treatment Market is poised to grow at a sustainable CAGR for the next forecast year.
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Global amyotrophic lateral sclerosis treatment market is segmented based on treatment, distribution channel, type, and region. On the basis of treatment, it is segmented into medication, stem cell therapy, others. On the basis of distribution channel, the global amyotrophic lateral sclerosis treatment market is segmented into hospital pharmacies, retail pharmacies, others (online pharmacies, diagnostics laboratories and clinics). Based on type, it is segmented as Sporadic ALS, Familial ALS. Based on the region, it is segmented as North America, Europe, Asia Pacific, and Middle East and Africa.
Amyotrophic Lateral Sclerosis Treatment Market Analysis by Treatment
The meditation segment dominated the global amyotrophic lateral sclerosis treatment market. It dominates the global ALS treatment market through the forecast period. There are only two drugs approved for the treatment of ALS Rilutek (riluzole), and Radicava (edaravone). Another drug, Nuedexta (dextromethorphan/quinidine) received FDA approval for the treatment pseudobulbar affect (PBA), comorbidity of ALS.
Stem cell therapy is expected to show the highest CAGR due to the increasing demand for new approaches and advanced treatment options. A number of initiatives have been launched by government agencies and the Collaborative ALS Drug Discovery Initiative (CADDI) to accelerate the development of new drugs and treatments. This is expected to increase the number of clinical trials and pipeline drug launches during the forecast period.
Amyotrophic Lateral Sclerosis Treatment Market Analysis by Distribution Channel
Hospital pharmacies accounted for the largest market share and expected to retain leading position during the forecast period. It is followed by retail pharmacies and then others. The requirement for several hospital stays and visits during ALS treatment facilitates the growth of this segment. There is high patient preference for hospital pharmacies as well as retail pharmacies. This can be attributed to the easy and rapid access to a broad range of drugs and adequate products in the stock offered by these distribution channels.
Online Pharmacies are also gaining prominence due to the growing popularity of e-commerce channels that offer a wide range of options along with in-depth drug information.
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North America had the largest market share in 2018 and is expected to maintain that position throughout the forecast period. The factors driving the market are high healthcare expenditure, favorable reimbursement policies, high demand for ALS drugs, and established healthcare infrastructure. According to the Centers for Disease Control and Prevention (CDC) Morbidity and Mortality Weekly Report, approximately 16,583 cases of amyotrophic lateral sclerosis were identified in the United States in 2015.
Over the forecast period, Asia Pacific is expected to grow at the fastest rate of all regions. This region's riluzole generic manufacturers are increasing their revenue generation, particularly in India and China. Growing R&D investment in the healthcare sector, a plethora of untapped opportunities, and promising initiatives by manufacturers and governments are some of the key factors driving market growth in this region.
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Amyotrophic Lateral Sclerosis Treatment Market Driver
Global amyotrophic lateral sclerosis treatment market is projected to be driven by a rise in prevalence of amyotrophic lateral sclerosis disease. According to the Centers for Diseases Control and Prevention (CDC), in 2016, between 14,500 and 15,000 people in the U.S. had amyotrophic lateral sclerosis, of these about 5,000 people are diagnosed annually. Globally, about 2 – 5 people in every 100,000 are affected by ALS. Additionally, inclination toward sedentary lifestyle and increase in the geriatric population fuel the demand for targeted and symptomatic treatment options. This is expected to drive the market during the forecast period.
Amyotrophic Lateral Sclerosis Treatment Market Restraint
High cost of treatment, less awareness about amyotrophic lateral sclerosis diseases, and limited availability of treatment option are likely to hamper the market during the forecast period. Amyotrophic lateral sclerosis is so rare that treatment can be prohibitively expensive. Edaravone is a common drug or active ingredient used to treat ALS because it aids in the elimination of free radicals that cause neuron damage. This drug can cost around $145,000 per year. With other costs such as hospital bills, the entire treatment could cost around $200,000. Furthermore, there is no guarantee that such treatments will improve a patient's condition. As a result, even after spending thousands of dollars, very low survival rates can be a significant setback in the growth of the respective market.
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Global amyotrophic lateral sclerosis treatment market is slightly fragmented in nature due to the presence of several companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international and local companies that hold market shares and are well known. Some companies are Mitsubishi Tanabe Pharma Corporation, Sun Pharmaceutical Industries Ltd., CORESTEM, Inc, BrainStorm Cell Limited, Amylyx Pharmaceuticals Inc., AB Science, Ionis Pharmaceuticals, Biohaven Pharmaceutical, Biogen, and F. Hoffmann-La Roche AG.
Top Players in Global Amyotrophic Lateral Sclerosis Treatment Market
Amyotrophic Lateral Sclerosis Treatment Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, rise in the incidence of amyotrophic lateral sclerosis is expected to accelerate market growth from 2022 to 2028. Increased geriatric population and increased awareness of amyotrophic lateral sclerosis are also expected to boost the amyotrophic lateral sclerosis treatment market growth. Furthermore, the rise in the launch of novel medicines, as well as an increase in healthcare expenditure and well-established healthcare infrastructure, are expected to drive market growth.
|Market size value in 2021||USD 647.9 million|
|Market size value in 2030||USD 685.48 million|
|Forecast Unit (Value)||USD Million|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
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For the Global Amyotrophic Lateral Sclerosis Treatment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Amyotrophic Lateral Sclerosis Treatment Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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