Amyotrophic Lateral Sclerosis Market In-Depth Analysis Globally by Top Key Players
Amyotrophic lateral sclerosis (ALS), can be defined as a
progressive degeneration of motor nerve cells in the brain and the spinal
cord. It is also known as Lou Gehrig’s
disease or motor neuron disease (MND). In ALS, the motor neurons can no longer
send impulses to the muscles, the muscles begin to deteriorate which causes
increased muscle weakness.Over recent years, the prevalence of ALS is growing
pervasively. At the same time, there are various treatments, therapeutics, and
many novel medicines available to treat the conditions of ALS.
The increasing prevalence of ALS and the availability of the
treatment commutatively drive the global amyotrophic lateral sclerosis market.
Moreover, the spreading awareness about ALS and the availability of treatments
to manage this disease is escalating the market constantly.Considering these
factors, the global amyotrophic
lateral sclerosis market is expected to reach over USD 841.6 million by
2023, growing at approximately 7.89% CAGR during the review period (2018-2023).
In the year 2017, the market stood valued at USD 526 million.
In addition to the increasing occurrences of the disease,
other factors predicted to augur market growth include the ever-increasing
population and the expanding numbers of geriatric populace worldwide.The
increasing demand for the quality healthcare systems, sedentary lifestyle, and
gene mutation have been accelerating the ALS market growth over the last few
years.
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Competitive Dashboard:
Prominent players operating in the amyotrophic lateral
sclerosis market include Sun Pharmaceutical (India), Mitsubishi Tanabe Pharma
America (U.S.), Biogen (U.S.), Sanofi (France), Mylan N.V. (U.S.), Covis Pharma
(Switzerland), Ionis Pharmaceutical (U.S.), ITF Pharma (U.S.), Ascend
Pharmaceuticals LLC (U.S.), Apotex Inc. (Canada), and others.
Strategic initiatives employed often involve collaborations,
mergers, acquisitions, product launches, and others. These tactical moves
ensure the individual progress of each company alongside the market’s
expansion. For instance, Sanofi SA and Denali Therapeutics collaborated in
November 2018 to develop molecules capable of treating ALS successfully.
Segmentation:
The Global amyotrophic lateral sclerosis market has been
segmented on the basis of type, treatment, end-user, and regions.
By type, the market is segmented into sporadic and familial
ALS. The subsegment Sporadic ALS (SALS) accounted for the largest as in 95% of
the market share in 2017 with a value of USD 499 million. The subsegment is
projected to grow at a CAGR of 7.93% during the review period. On the other
hand, familial ALS (FALS) is predicted to generate close to USD 41.7 million by
2023.
By treatment, the global amyotrophic lateral sclerosis
market has been segmented into medication, physical therapy, respiratory
therapy, speech therapy, and others. In 2017, the subsegment medication
accounted for the largest share of 46% with a market value of USD 243.2
million. It is projected to register a CAGR of 8.94% during the forecast period
to reach USD 407.9 million by 2023. Physical therapy is the second-most
lucrative treatment option and can net close to USD 160.7 million by 2023.
By end-user, the ALS market has been segmented into
hospitals, specialty centers, research & academic institutes, and others.
Out of these, the subsegment hospitals accounted for the largest as in 39% of
the market share in 2017, valuing at USD 203 MN. The subsegment is estimated to
continue with its dominance registering a CAGR of 8.07% over the assessment
period to touch USD 328.7 million by 2023.
Regional Analysis
By region, the Global amyotrophic lateral sclerosis market
is segmented into the Americas, Europe, Asia Pacific, and the Middle East and
Africa.
Among these, the Americas region dominates the ALS market.
The European region accounts for the second largest market for ALS. And, the
Asia Pacific region accounts for the fastest growing region. Within Americas,
the North American region accounted for almost 50.86% of the market share in
2017, followed by Europe and Asia Pacific, respectively.
Globally, the North
American region is estimated to be the leading market for amyotrophic lateral sclerosis
treatments owing to the well-spread awareness of the disease and the
availability of treatments to manage the condition. Moreover, the rising
prevalence of hypertension alongside the increasing research activities carried
for the discovery of the management and treatment of ALS positively impacts the
ALS market growth.
Furthermore, numerous factors such as the rising prevalence
of ALS and the growing awareness about the severity of the disease is expected
to drive the market growth. The region is anticipated to reach over USD 434
million by 2023, growing at approximately 8% CAGR during the forecast period.
Globally, the Europe amyotrophic lateral sclerosis market is
expected to stand second, mainly due to the rise in the incidence rate of the
ALS disease. In the last few years, there has been an increase in the number of
research labs and advanced facilities for the treatment of ALS. The development
of novel therapeutic approaches and advanced treatment options are likely to
push the amyotrophic lateral sclerosis market in the European region during the
forecast period. Resultantly, the
European amyotrophic lateral sclerosis market is projected to register over 8%
CAGR during the period 2018 -2023 valuing at approximately 260 Mn USD by 2023.
The amyotrophic lateral sclerosis market in the Asia Pacific
region is estimated to emerge as a promising market due to the increasing
prevalence of the disease. Additional factors substantiating the growth of the
ALS market in the APAC include the rapidly developing healthcare infrastructure
that is led by the improving economic conditions in the region.
Owing to the increasing number of research and development
centers, the amyotrophic lateral sclerosis market in the APAC will reach the
valuation of USD 113 million by 2023, registering a CAGR over 6% during the
review period.
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