Market
Scenario
Amyotrophic
lateral sclerosis is a neurodegenerative disease. ALS affects the nerve cells
in the brain and spinal cord that control the voluntary muscles. It is also
known as the Lou Gehrig’s disease. Amyotrophic lateral sclerosis can be caused
due to various factors such as genetics or environmental factors such as
exposure to toxic or infectious agents, viruses, physical trauma, diet, and
behavioral and occupational factors.
The Global
Amyotrophic Lateral Sclerosis Market is majorly driven by the growing
prevalence of ALS, rising older population leading to rise in the patient
population. Additionally, government funding, rising programs to create
awareness, and market players offering advanced products are likely to drive
the market.
According
to the United Nations, in 2017 approximately over 962 million population were
aged over 60 and above globally. United Nations has also estimated that by
2050, the number of older population is likely to reach 425 million. This is
likely to propel the growth of the global amyotrophic lateral sclerosis market.
Factors that are likely to hamper the growth of the market is the lack of
awareness regarding the treatment.
Global Amyotrophic
Lateral Sclerosis Market is expected to grow at a CAGR of 6% during the
forecast period.
Segments
The Global Amyotrophic Lateral
Sclerosis Market is segmented on the basis of type, treatment, diagnosis, and
end-user.
On the basis of type, the market
is segmented into Familial ALS and Sporadic ALS.
On the basis of diagnosis, the
market is segmented into laboratory tests, imaging tests, and others. On the
basis of diagnosis, laboratory tests are further sub-segmented into blood
tests, urine tests, and thyroid functioning tests. On the basis of imaging
test, it is further sub-divided into Electromyography (EMG), X-ray, and Nerve
Conduction Study (NCS).
On the basis of treatment, the
market is segmented into medication, physical therapy, speech therapy,
nutritional support, and breathing support. On the basis of treatment,
medication is further sub-segmented into Edaravone and Riluzole.
On the basis of end-user,
the market is segmented into specialty centers, hospitals, and research
centers.
Regional Analysis
The North American amyotrophic
lateral sclerosis market is a growing market. On a regional basis, the Americas
region is segmented into North America and South America. North America is
segmented into the U.S. and Canada. The increasing prevalence of ALS affected
population, along with the rising older population is likely to drive the
market. Additionally, growing healthcare expenditure and rising demand for
technologically advanced treatment and products along with the rising
government support is likely to enhance the growth of the amyotrophic lateral
sclerosis market in North America. For instance, in 2015, a group of ALS
organizations in the U.S., such as ALS Association, Les Turner ALS Foundation,
and ALS Therapy Development Institute, introduced the Ice Bucket Challenge to
raise further funds and spread awareness about ALS among the population.
Europe is the second largest
market and holds a healthy share in the global amyotrophic lateral sclerosis
market. The European market is expected to grow at a healthy CAGR during the
forecast period owing to the availability of newer and advanced treatment
facilities and rising skilled medical professionals along with the growing need
for better healthcare scenario. Furthermore, rising older population, along
with growing inclination towards sedentary lifestyle is driving the growth of
the amyotrophic lateral sclerosis market.
Asia Pacific is expected to be
the fastest growing market. The increasing prevalence of chronic diseases and
infections are the major drivers for the market growth. China is the fastest
growing region owing to an increasingly older population and rising patient
population. The increasing awareness regarding the health and availability of
new treatment methods drives the market in this region. The increasing
healthcare expenditure and change in the standard of living are driving the
growth of the amyotrophic lateral sclerosis market in the Asia Pacific region.
The Middle East and Africa is
expected to show the least growth in the market due to some major factors such
as lack of awareness and limited access and availability of treatment
facilities. In the Middle East, the United Arab Emirates is the largest market owing
to the rise in healthcare development and rising demand for availability of
specialty care centers.
Key
Players
Some of the key players in the
Amyotrophic Lateral Sclerosis market are GNT Pharma, Synthetic Biologics,
Avicena Inc., Amkor Pharma, Mitsubishi Tanabe Pharma, Sanofi, and Biogen Inc.,
among others.
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Detailed Table
of Contents:
1. Report Prologue
2. Introduction
2.1 Definition
2.2 Scope Of The Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
2.3 Market Structure
2.4. Market Segmentation
3. Research
Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size
Estimation
3.5 Forecast Model
...Continued!
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