Report Details:
15 Companies Covered
200 Pages
Pune, India, January 2022/MRFR Press Release/- Market Research Future has published a cooked research report on the Global Amyotrophic Lateral Sclerosis Market.
Amyotrophic Lateral Sclerosis Market Latest Highlights
Amyotrophic lateral sclerosis (ALS) is a rare neurological disorder. Market Research Future (MRFR) has published a research report about the global amyotrophic lateral sclerosis market that forecasts boost for this market at 6.10% CAGR (Compound Annual Growth Rate) between 2022-2030. By value, the market is expected to be worth USD 1.08 billion by the end of forecast period.
The key factors driving the global amyotrophic lateral sclerosis market include an increase in the incidence rate of ALS, the rise in the awareness about the disease among patients, inclination towards the sedentary lifestyle, rise in the geriatric population, and demand for symptomatic as well as targeted treatment options. However, the high cost of the treatment of ALS can slow down the market growth.
The global amyotrophic lateral sclerosis market has been segmented on the basis of end user, type, treatment, and lastly, region. Based on end users, this market has been segmented into hospitals, research & academic institutes, specialty centers, and others. During the forecast period, the hospital is expected to witness the highest growth.
By type, the market has been segmented into familial ALS and sporadic ALS. During the forecast period, sporadic ALS is expected to dominate the market. The treatment-based segmentation segments this market into medication, physical therapy, respiratory therapy, speech therapy, and others.
The regional segmentation of the global amyotrophic lateral sclerosis market segments the global market into regional markets known as The Americas (North America & South America), Europe, Asia Pacific, and the Middle East & Africa (MEA). The Americas hold the largest market share of the global market as North America alone is capable of holding this share anyways. Due to technology, North America is a bigger market than South America. In North America (and some parts of South America), the market is growing due government support for research & development (R&D), increasing the pool of awareness, availability of advanced medical facilities, the rising prevalence of hypertension, and presence of many key market players. In North America, the most powerful economies that can be important country-specific markets are USA and Canada. In North America, especially in the USA, public and private organizations are involved in collaborations and strategic partnerships in search for a better outcome in the research of amyotrophic lateral sclerosis treatment. In South America, Argentina and Brazil are two strong economies that can be suitable markets in the future.
Europe is the second largest regional market mainly due to the well-established healthcare sector. Several companies and research institutes are establishing advanced facilities to research ALS. In Europe, due to reasons same as The Americas, Western Europe is a bigger market than Eastern Europe. The most powerful economies that can be suitable markets in this region are France, Germany, and the UK.
During the forecast period, the Asia Pacific region is expected to grow rapidly as a regional market. Important factors leading to market growth include the increasing prevalence of the ailment and rapidly developing healthcare infrastructure. Other factors contributing to the market growth include the presence of growing economies like China and India. The increase in the setups of research and development (R&D) centers also aiding the market growth. Other important country-specific markets in this region are Australia, Japan, and South Korea, followed by the remaining countries of the Asia Pacific region.
The MEA region holds the smallest market share in the global market. In this region, the market is small and limited due to poor countries, lack of awareness, lack of advanced medical facilities, low standard of medical facilities, lack of education, lack of healthcare facilities, and most governments not considering healthcare a priority.
Key Players
The key players in the global amyotrophic lateral sclerosis market include Apotex Inc. (Canada), Ascend Pharmaceuticals LLC (USA), Biogen (USA), Covis Pharma (Switzerland), Ionis Pharmaceutical (USA), ITF Pharma (USA), Mitsubishi Tanabe Pharma America (USA), Mylan N.V. (USA), Sanofi (France), and Sun Pharmaceutical (India).
Latest Industry News
- The US Food and Drug Administration (FDA) has granted Fast Track designation to Revalesio’s experimental therapy RNS60 for people diagnosed with ALS. A phase 2 trial has now started recruiting participants. 7 JAN 2019
- According to a new study, the human-derived antibody that can specifically bind to abnormal superoxide dismutase 1 (SOD1) has improved the symptoms and delayed disease progression in a mouse model for ALS. 14 JAN 2019