Amyotrophic lateral sclerosis (ALS) belongs to a group of rare neurological disorders. This neurodegenerative disease badly impacts the nerve cells in the brain and the spinal cord. Also known as motor neuron diseases, they affect the motor functions of voluntary muscles in the body. Symptoms of ALS include muscle twitching and muscles decreasing in size. Factors such as an increase in the incidence rate of ALS, rise in the awareness about the disease among patients, and rise in the geriatric population is expected to boost the growth of the amyotrophic lateral sclerosis market.
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The Global ALS market valuation is expected to surpass USD 841.6 million by 2023, growing at approximately 7.89 % CAGR over the forecast period (2018-2023). In 2017, the market had a valuation of USD 526 million.
Additional factors such as the inclination towards the sedentary lifestyle are driving the market growth and increasing the risk of developing ALS. Besides, the increasing geriatric population substantiates market growth, creating a demand for symptomatic and targeted treatment options.
But the high cost of the treatment of ALS may hinder the market growth over the forecast period.
Key Players
- 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).
Segments
The Global amyotrophic lateral sclerosis market has been segmented on the basis of type, treatment, and end-user.
By type, the market is segmented into sporadic and familial ALS. The sporadic ALS, also abbreviated as SALS, was the largest segment in 2017 and can dominate the market over the forecast period.
By treatment, the amyotrophic lateral sclerosis market has been segmented into medication, physical therapy, respiratory therapy, speech therapy, and others. Out of these, medication had the largest market in 2017.
By end-user, the ALS market has been segmented into hospitals, specialty centers, research & academic institutes, and others. Among these, the subsegment Hospital accounts for the largest segment.
Regional Analysis
By Regions, the global amyotrophic lateral sclerosis market is segmented into the Americas, Europe, Asia Pacific, and the Middle East and Africa.
The Americas is estimated to dominate the global ALS market owing to the increasing pool of awareness and the rising prevalence of hypertension. ALS remains a significant public health challenge in the US. Therefore, governments and private non-profit organizations are developing specific guidelines for the management and treatment of ALS. Public and private organizations are involved in strategic partnerships and collaborations in search for a better outcome in the research of amyotrophic lateral sclerosis treatment in the region.
The amyotrophic lateral sclerosis market in the European region stands at the second position in terms of the market size mainly due to the well-established healthcare sector. Several companies and research institutes are also establishing advanced facilities to research ALS.
Moreover, in recent years, there has been an increase in the adoption of sedentary lifestyles among people. Research shows that an increase in physical activities such as exercise helps in reducing the pain and thwarting some of the symptoms such as loss of motion in patients who have ALS.
Thus, the inclination towards the sedentary lifestyle increases the risk of developing ALS among the elderly population, thus creating a demand for symptomatic and targeted treatment options. The development of novel therapeutic approaches and advanced treatment options are likely to push the growth of the amyotrophic lateral sclerosis market during the forecast period.
Whereas, the ALS market in the Asia Pacific region is expected to grow rapidly due to the increasing prevalence of the disease and rapidly developing healthcare infrastructure. The increasing economy in the region is playing a vital role in the growth of the market. Furthermore, the increase in the setups of research and development centers also fuels the growth of the ALS market in the region.
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