ALS or Amyotrophic Lateral Sclerosis is a neurological ailment which affects the nerve cells in the spinal cord and the brain that controls the voluntary muscles’ activities. Some of the common symptoms of ALS include cramps, muscle weakness, respiratory problems, and fasciculation. This is a progressive neurological disease where gradually patients become dependent on physicians and caregivers increasingly. Often ALS results in respiratory failure as the patient loses the ability of controlling the muscles both in the diaphragm and the chest. Ultimately, it turns fatal.
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.
The Global Amyotrophic Lateral Sclerosis Treatment Market size by valuation is expected to surpass USD 841.6 million by 2023, growing at approximately 7.89 % CAGR over the forecast period (2019-2023). In 2017, the market had a valuation of USD 526 million.
But the high cost of the treatment of ALS may hinder the market growth over the forecast period.
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.
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).
Feb 2019- Leading technology transfer company, BGN Technologies has lately disclosed about a new AI (artificial intelligence) platform to monitor and predict the development of neurodegenerative diseases in order to identify markers both for improved drug development and personalized patient care. This technology will focus on ALS at an initial stage and later on will be adapted to other neurodegenerative diseases namely Alzheimer’s and Parkinson’s. The latest technology will predict disease progression more accurately, a key component for clinical trials along with better identifying the interrelationships amid demographics and many other measurable factors that are identified through patient functionality and physical examinations. It will allow researchers in creating a system which insurers, HMOs, pharmaceutical companies, caregivers, physicians, and patients can use on mobile applications and desktop for monitoring and predicting ALS progression.
Browse More Details of the Report @ https://www.marketresearchfuture.com/reports/amyotrophic-lateral-sclerosis-market-5822
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