The global amyotrophic lateral sclerosis market is anticipated to touch USD 841.6 million at a healthy 7.89% CAGR during the forecast period .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. As per Global Amyotrophic Lateral Sclerosis Market Trends Analysis, the Global Market based companies will face certain challenges during the forecast period 2020 to 2027.
There are many factors that are driving the growth of the amyotrophic lateral sclerosis market. Some of these factors as per the Market Research Future (MRFR) report include rising incidences of ALS, increase in awareness among patients, increase in geriatric population, FDA approvals and initiatives taken by the government on RD activities. On the other hand, factors such as low treatment availability and high treatment cost may hinder the growth of the amyotrophic lateral sclerosis market.
Market Segmentation
As per the MRFR report, the amyotrophic lateral sclerosis market is segmented into type, treatment, and end user.
Based on Amyotrophic Lateral Sclerosis Type, it is segmented into sporadic ALS and familial ALS. Of these, the sporadic ALS segment will dominate the market during the forecast period.
Based on treatment, the amyotrophic lateral sclerosis market is segmented into speech therapy, respiratory therapy, physical therapy, medication, and others.
Based on end-users, it is segmented into specialty centers, research and academic institutes, hospitals and others. Of these, the hospital segment will have the highest growth during the forecast period.
Regional Analysis
Based on region, the amyotrophic lateral sclerosis market covers growth opportunities and latest trends across North America, Europe, Asia Pacific, and the Middle East and Africa. Of these, North America will lead the market during the forecast period owing to support from the government for RD, rising pool of awareness, the existence of many leading market players, increasing incidence of hypertension, and advanced medical facilities. Canada and the USA are the largest contributors in this region. Europe will have the second largest share in the amyotrophic lateral sclerosis market during the forecast period. The UK, Germany, and France will be the largest contributors in this region. In the APAC region, the amyotrophic lateral sclerosis market is anticipated to grow rapidly owing to the rapidly expanding healthcare infrastructure, increasing the incidence of ALS, the presence of the growing economies mainly India and China, and increasing setups of RD centers. South Korea, Japan, and Australia are the other vital country-specific markets here. On the other hand, the amyotrophic lateral sclerosis market in the Middle East and Africa will have the smallest share owing to poor countries, inadequate healthcare facilities, lack of education, medical facilities having low standard, lack of awareness and lack of advanced and innovative medical facilities.
Key Players
Leading players profiled in the amyotrophic lateral sclerosis market include Sun Pharmaceutical (India), Sanofi (France), Mylan N.V. (USA), Mitsubishi Tanabe Pharma America (USA), ITF Pharma (USA), Ionis Pharmaceutical (USA), Covis Pharma (Switzerland), Biogen (USA), Ascend Pharmaceuticals LLC (USA) and 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.
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