Global Amyotrophic Lateral Sclerosis Market Size to Reach USD 1.13 billion by 2030

Progressive neurodegeneration characterizes amyotrophic lateral sclerosis (ALS), often known as Lou Gehrig's illness or motor neuron disease. It is characterized by the loss of nerve cells, which gradually causes paralysis in the patient. ALS has no known cure yet and is typically identified with a number of motor neuron signs, including limb weakness, muscle wasting, stumbling, and difficulty with speech, swallowing, and speaking.A variety of factors, such as rising awareness about the disorder, increasing instance R&D activities and rising patient population, are anticipated to drive market growth. Furthermore, an increasing number of clinical trials and increasing speciality care centers are also expected to contribute to the global Amyotrophic lateral sclerosis (ALS) market growth rate.Key PlayersThe major companies partaking in the global Amyotrophic Lateral Sclerosis (ALS) market are Allied Market Research (US), Acorda Therapeutics, Inc. (US), AbbVie Inc (US), Novartis AG (Switzerland), Astellas Pharma, Inc. (Japan), Cytokinetics (US), F. Hoffmann-La Roche AG (Switzerland), Sanofi (France), and Ebewe Pharma (Austria).Market SegmentationThe Global Amyotrophic Lateral Sclerosis (ALS) Market is completey segmented into product, end user and disease stage.Based on products, the market is segregated into drugs, device and imaging systems.By endpoint user, it is categorized as hospitals & clinics, diagnostic centers and research laboratories.Depending on disease stage, the market is divided into early-stage, mid-stage and advanced stage.

Amyotrophic Lateral Sclerosis Market Regional Report Analysis

Geographically, the Global Amyotrophic Lateral Sclerosis (ALS) Market is analyzed with respect to North America, Asia-Pacific, Europe, and the Rest of the World.It is anticipated that the North American industry will dominate the global market due to the vast number of clinical trials and the growing patient population. In addition, the easy accessibility of ALS medications in the region is anticipated to stimulate regional development.In contrast, the global Amyotrophic Lateral Sclerosis (ALS) market in the Asia Pacific region is anticipated to expand at the highest CAGR of 7.41% during the forecast period, owing to the growing awareness of the disorder, the increasing number of healthcare providers, and the potential investment opportunities in the region.

Industry OutlookThe global Amyotrophic Lateral Sclerosis (ALS) Market is anticipated to develop at a healthy rate over the forecast period, on account of rising knowledge about the disease, a rising patient population, a rising number of clinical trials, and rising pharmaceutical company investments.Moreover, major players in the market are focusing on product launches, acquisitions, mergers and expansion of their products and services to remain competitive in the market. For instance, in March 2019, Cytokinetics and Astellas Pharma entered into a strategic alliance to develop, commercialize and market omecamtsecutm (a novel investigational treatment) for ALS.Furthermore, the growing focus of major players on research and development activities is anticipated to drive market growth. For instance, in 2020, Cytokinetics provided an update on its discovery programs to develop additional treatments for patients with ALS.Increasing partnerships and the introduction of new diagnostic methods are also anticipated to contribute to the market's growth pace. In 2020, Roche Diagnostics introduced GenePanelPlus, a genetic test designed to diagnose neurological conditions such as amyotrophic lateral sclerosis.Market ForecastThe global Amyotrophic Lateral Sclerosis (ALS) market is projected to reach 1.13 billion by 2030, expanding at a CAGR of 6.10 percent between 2022 and 2030. Increased awareness of the illness, an increase in the number of clinical studies, and an increase in the number of healthcare professionals are anticipated to propel market expansion.

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