Amyotrophic Lateral Sclerosis Market Companies, Industry Current Trends, Application, Growth Factors, Development and Forecast 2027
Amyotrophic lateral sclerosis (ALS) is a rare neurological
disease where the nerve cells in the brain and spinal cord are affected, which
are responsible for controlling voluntary muscles. Higher incidence rate in
recent years have added fuel to the growth of the global amyotrophic lateral
sclerosis market. Market Research Future (MRFR) has recently launched its latest
report on the global amyotrophic
lateral sclerosis market, revealing the key trend and patterns that can
impact the market over the forecast period of 2018-2023. MRFR has asserted that
the market is eyeing to scale a valuation of USD 841.6 Mn at a CAGR of 7.89% by
the end of 2023.
Also known as motor neuron disease, the incidence rate of
ALS has increased significantly in recent years. Elevating level of awareness
among patients, rise in geriatric population, and aggressive R&D activities
are supporting the growth of the market. Other factors include rise in number
of FDA approvals and government support in the form of R&D grants. On the
other hand, high cost of treatment and lack of medical facilities in certain
areas might hinder the growth of the market.
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Segmentation
The amyotrophic lateral sclerosis market has been segmented
based on type, treatment, end-user, and regions.
By type, the amyotrophic lateral sclerosis market has been
segmented into sporadic ALS and familial ALS. The Sporadic ALS segment is
dominating the market. The prevalence of sporadic ALS is relatively high and
almost 90% of the cases are sporadic. The cause of sporadic ALS remains unknown
and a combination of genetic and environmental risk factors are presumed to be
the underlying cause of the diseases. The occurrence of familial ALS is very
low and are inherited from genetic mutations.
By treatment, the amyotrophic lateral sclerosis market has
been segmented into medication, physical therapy, respiratory therapy, speech
therapy, and others. The medication segment is dominating the market as most
patients opt for medicines a s a treatment method. Medications are effective
and economical.
By end-user, the amyotrophic lateral sclerosis market has
been segmented into hospitals, specialty centers, research & academic
institutes, and others. The hospitals segment is domineering the markets.
Hospitals are generally the first point of treatment and are highly proffered
by patients.
Regional Analysis
Region-wise, the amyotrophic lateral sclerosis market has
been segmented into North America, the Middle East & Africa (MEA), Asia
Pacific (APAC), and Europe.
North America is the leading amyotrophic lateral sclerosis
market. The growth of the market can be attributed to the presence of a large
patient pool suffering from the diseases, surging awareness regarding the
diseases, and increasing incidence of hypertension, a risk factor, in the
region. Moreover, high government support, state-of-the-art medical facilities,
and favorable reimbursement are also encouraging the growth of the market. The
US and Canada are the country-specific markets within North America market.
Europe follows North America closely
and is estimated to exhibit noteworthy growth over the
forecast period. Rapidly expanding healthcare sector and government support are
factors boosting the growth of the market. The UK, France, and Germany are the
key country-specific markets within Europe.
The APAC market is likely to showcase remarkable growth over
the forecast period. The growth will be facilitated by the concentration of
various developing countries in the region. The prevalence of the diseases is
increasing at a rapid pace in these regions. Moreover, growing number of
R&D centers in the region is creating conducive environment for the growth
of the market. Japan, Australia, and South Korea are the key markets within
APAC.
The MEA market is anticipated to demonstrate the least
growth over the forecast period. Inadequate healthcare facilities, lack of
awareness, and poor economic conditions, particularly in the underdeveloped
countries of the African region, restrict the growth of the market.
Competitive Landscape
ITF Pharma (USA), Sanofi (France), Mylan N.V. (USA),
Mitsubishi Tanabe Pharma America (USA), Ionis Pharmaceutical (USA), Sun
Pharmaceutical (India), Ascend Pharmaceuticals LLC (USA), and Apotex Inc.
(Canada), Covis Pharma (Switzerland), and Biogen (USA) are the key players in
the amyotrophic lateral sclerosis market.
Industry Updates
August 2019 - Scientists from the Peking Union Medical
College Hospital in China have identified a new type of split-hand index that
can assist in distinguishing people with amyotrophic lateral sclerosis at an
early stage.
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