Amyotrophic Lateral Sclerosis Market 2021 Share Growing Rapidly With Latest Trends, Development, Revenue, Demand And Forecast To 2027
Market Analysis
The global amyotrophic lateral sclerosis market is anticipated to touch USD 841.6 million at a healthy 7.89% CAGR during the forecast period (2018-2023). 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.
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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 R&D 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.
Amyotrophic Lateral Sclerosis 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
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 R&D, 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 R&D 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.
Amyotrophic Lateral Sclerosis Market Competitive Landscape
ITF Pharma (USA), Sanofi (France), Mylan N.V. (USA), Mitsubishi Tanabe Pharma America (USA), Ionis Pharmaceutical (USA), Sun Pharmaceutical (India), Ascend Pharmaceuticals LLC (USA), and Apotex Inc. (Canada), Covis Pharma (Switzerland), and Biogen (USA) are the key players in the amyotrophic lateral sclerosis market.
Industry Updates
August 2019 - Scientists from the Peking Union Medical College Hospital in China have identified a new type of split-hand index that can assist in distinguishing people with amyotrophic lateral sclerosis at an early stage.
List of Tables
TABLE 1 MARKET SYNOPSIS 15
TABLE 2 LIST OF ASSUMPTIONS 17
TABLE 3 GLOBAL ALS MARKET, BY TYPE, 2020–2027 (USD MILLION) 34
TABLE 4 GLOBAL ALS MARKET FOR SPORADIC ALS, BY REGION, 2020–2027 (USD MILLION) 35
TABLE 5 GLOBAL ALS MARKET FOR FAMILIAL ALS, BY REGION, 2020–2027 (USD MILLION) 35
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