Amyotrophic Lateral Sclerosis: The increasing prevalence of ALS and rising older population are likely to drive the growth of the global market at a CAGR of 7.89% :

Pune, India, January, 2019 /MRFR Press Release/- Market Research Future (MRFR) announces the publication of its research report – Global Amyotrophic Lateral Sclerosis Market, 2017–2023

Overview:

Amyotrophic lateral sclerosis (ALS), can be defined as a progressive degeneration of motor nerve cells in the brain and the spinal cord.  It is also known as Lou Gehrig’s disease or motor neuron disease (MND). In ALS, the motor neurons can no longer send impulses to the muscles, the muscles begin to deteriorate which causes increased muscle weakness.

Over recent years, the prevalence of ALS is growing pervasively. At the same time, there are various treatments, therapeutics, and many novel medicines available to treat the conditions of ALS.

The increasing prevalence of ALS and the availability of the treatment commutatively drive the global amyotrophic lateral sclerosis market. Moreover, the spreading awareness about ALS and the availability of treatments to manage this disease is escalating the market constantly.

Considering these factors, the global amyotrophic lateral sclerosis market is expected to reach over USD 841.6 million by 2023, growing at approximately 7.89% CAGR during the review period (2018-2023). In the year 2017, the market stood valued at USD 526 million.

In addition to the increasing occurrences of the disease, other factors predicted to augur market growth include the ever-increasing population and the expanding numbers of geriatric populace worldwide.

The increasing demand for the quality healthcare systems, sedentary lifestyle, and gene mutation have been accelerating the ALS market growth over the last few years.

However, factors such as the high cost associated with ALS treatment and the lack of awareness towards the availability of ALS treatment is estimated to restrict the market growth over the forecast period, especially in the developing regions.  Also, stringent government regulations for the approval of therapeutics and medicines may slow down the growth of the ALS market.

Segmentation:

The Global amyotrophic lateral sclerosis market has been segmented on the basis of type, treatment, end-user, and regions.

By type, the market is segmented into sporadic and familial ALS. The subsegment Sporadic ALS (SALS) accounted for the largest as in 95% of the market share in 2017 with a value of USD 499 million. The subsegment is projected to grow at a CAGR of 7.93% during the review period. On the other hand, familial ALS (FALS) is predicted to generate close to USD 41.7 million by 2023.

By treatment, the global amyotrophic lateral sclerosis market has been segmented into medication, physical therapy, respiratory therapy, speech therapy, and others. In 2017, the subsegment medication accounted for the largest share of 46% with a market value of USD 243.2 million. It is projected to register a CAGR of 8.94% during the forecast period to reach USD 407.9 million by 2023. Physical therapy is the second-most lucrative treatment option and can net close to USD 160.7 million by 2023.

By end-user, the ALS market has been segmented into hospitals, specialty centers, research & academic institutes, and others. Out of these, the subsegment hospitals accounted for the largest as in 39% of the market share in 2017, valuing at USD 203 MN. The subsegment is estimated to continue with its dominance registering a CAGR of 8.07% over the assessment period to touch USD 328.7 million by 2023.

Regional Analysis

By region, the Global amyotrophic lateral sclerosis market is segmented into the Americas, Europe, Asia Pacific, and the Middle East and Africa.

Among these, the Americas region dominates the ALS market. The European region accounts for the second largest market for ALS. And, the Asia Pacific region accounts for the fastest growing region. Within Americas, the North American region accounted for almost 50.86% of the market share in 2017, followed by Europe and Asia Pacific, respectively.

 Globally, the North American region is estimated to be the leading market for amyotrophic lateral sclerosis treatments owing to the well-spread awareness of the disease and the availability of treatments to manage the condition. Moreover, the rising prevalence of hypertension alongside the increasing research activities carried for the discovery of the management and treatment of ALS positively impacts the ALS market growth.

Furthermore, numerous factors such as the rising prevalence of ALS and the growing awareness about the severity of the disease is expected to drive the market growth. The region is anticipated to reach over USD 434 million by 2023, growing at approximately 8% CAGR during the forecast period.

Globally, the Europe amyotrophic lateral sclerosis market is expected to stand second, mainly due to the rise in the incidence rate of the ALS disease. In the last few years, there has been an increase in the number of research labs and advanced facilities for the treatment of ALS. The development of novel therapeutic approaches and advanced treatment options are likely to push the amyotrophic lateral sclerosis market in the European region during the forecast period.  Resultantly, the European amyotrophic lateral sclerosis market is projected to register over 8% CAGR during the period 2018 -2023 valuing at approximately 260 Mn USD by 2023.

The amyotrophic lateral sclerosis market in the Asia Pacific region is estimated to emerge as a promising market due to the increasing prevalence of the disease. Additional factors substantiating the growth of the ALS market in the APAC include the rapidly developing healthcare infrastructure that is led by the improving economic conditions in the region.

Owing to the increasing number of research and development centers, the amyotrophic lateral sclerosis market in the APAC will reach the valuation of USD 113 million by 2023, registering a CAGR over 6% during the review period.

Competitive Dashboard:

Prominent players operating in the amyotrophic lateral sclerosis market include 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), and others.

Strategic initiatives employed often involve collaborations, mergers, acquisitions, product launches, and others. These tactical moves ensure the individual progress of each company alongside the market’s expansion. For instance, Sanofi SA and Denali Therapeutics collaborated in November 2018 to develop molecules capable of treating ALS successfully.

Access Report Details @ https://www.marketresearchfuture.com/reports/amyotrophic-lateral-sclerosis-market-5822