Amyotrophic Lateral Sclerosis Market - Forecast (2022-2027)

Amyotrophic Lateral Sclerosis Market size is estimated to reach $754.3 million by 2027, growing at a CAGR of 5.3% during the forecast period 2022-2027. Amyotrophic lateral sclerosis is also called Lou Gehrig’s disease and it falls under the category of nervous system illness. This neurodegenerative disease leads to impaired neurological functions and severe weakness as they start spreading by depreciating motor neuron diseases which are the prominent part of the central nervous system and transmit impulses to regulate and set muscle activities in motion. Some common symptoms associated with the ailment are shortness of breath (SOB), dementia, difficulty in speaking, trouble swallowing, and impaired cognitive behavior. According to a report published by mayo Clinic, around 6-10% of the complications are genetically passed down to the younger generation through their ancestor but in maximum cases the root cause of the problem is unknown. However, these unknown causes are mostly triggered by smoking, exposure to harmful radiation and chemicals, and other pollutants present in the environment. Therefore, besides genetics, the elevating smoking trends among teenagers, brain injuries, and exposure to highly intense radiation are factors set to drive the growth of the Amyotrophic Lateral Sclerosis Market for the period 2022-2027.

 

 

The report: “Amyotrophic Lateral Sclerosis Market Forecast (2022-2027)”, by Industry ARC, covers an in-depth analysis of the following segments of the Amyotrophic Lateral Sclerosis Market.

 

By Disease Type: Sporadic ALS and Familial ALS.

By Drug Type: Radicava, Nuedexta and Riluzole.

By Treatment Type: Medicines and Therapies (Chemotherapy and Stem cell transplant).

By Treatment Channel: Hospitals, Diagnostic facilities, Other medical facilities.

By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand, and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America) and Rest of World (the Middle East and Africa).

 

 

Geographically, the North America Amyotrophic Lateral Sclerosis Market accounted for the highest revenue share in 2021. However, Asia-pacific is poised to dominate the market over the period 2022-2027.

Enlargement in research activities to develop a more effective and reliable way of treatment is said to be a preeminent driver driving the growth of the Amyotrophic Lateral Sclerosis Market. The exorbitant nature of curative treatments and lower chances of survival is said to reduce the market growth.

Detailed analysis on the Strength, Weaknesses, and Opportunities of the prominent players operating in the market will be provided in the Amyotrophic Lateral Sclerosis Market report.

 

 

 

 

The Amyotrophic Lateral Sclerosis Market based on the treatment type can be further segmented into medicines, and therapies (chemotherapy and stem cell transplant). The medicines segment held the largest share in 2021. The growth is owing to the widescale use of drugs in the treatment of amyotrophic lateral sclerosis. Drugs like Radicava and Riluzole are the first line of treatment in curative procedures associated with motor neuron disorder. In ALS free radicals increase oxidative stress and eventually worsen the situation by terminating motor neurons. Radicava includes an active pharmaceutical ingredient commonly known as “Edaravone” which helps in scavenging these harmful free radicals and eradicating them. Moreover, medicine is estimated to be the fastest-growing segment with a CAGR of 6.8% over the forecast period 2022-2027. This growth is owing to research activities in quest of finding a more stable and effective drug that increases the chances of patient survival. Therapies are used very rarely in treatment procedures because the disease can’t be cured. Moreover, chemotherapy increases the risk of patient survival. Therefore, It can merely be controlled through that too with medication.

 

 

The Amyotrophic Lateral Sclerosis Market based on treatment channel can be further segmented into hospitals, diagnostic facilities, other medical facilities. The hospital segment held the largest share in 2021. The growth is owing to the far-reaching prevalence of hospitals in both urban and rural areas. Besides, the cost of drugs used in the treatment of ALS is too expensive. Therefore, except for hospitals, it is next to impossible for medical facilities like cancer treatment centers, ambulatory surgery centers to afford the cost of the entire setup and maintain a 24/7 supply chain of these drugs. On another hand, the presence of a highly skilled and experienced medical professional is another factor behind progress in the hospital segment. The hospital segment is estimated to be the fastest-growing segment with a CAGR of 7.0% over the forecast period 2022-2027. This growth is owing to the refining infrastructure of hospitals as governments are allocating innumerable flows of hard cash.

 

 

The Amyotrophic Lateral Sclerosis Market based on Geography can be further segmented into North America, Europe, Asia-Pacific, South America, and the Rest of the World. North America held the largest share with 37% of the overall market in 2021. The growth in this segment is owing to the factors such as world-class healthcare facilities in countries like the U.S. Moreover, the U.S is also known as the melting pot of cultures because this country gravitates a lot of people including top-of-the-line medical professionals due to innumerable growth opportunities and high salaries which is another prominent factor that U.S. healthcare is considered the best in the world. However, The Asia-Pacific is expected to be the fastest-growing segment over the forecast period 2022-2027. This growth is owing to heavy investments in the research field as Asian nations are prospering economically. Moreover, the Asian population smokes a lot, and besides smoking the worst air quality which people are breathing in on regular basis is another factor considered to enlarge the progress in the amyotrophic lateral sclerosis market as the prevalence of such motor neuron disorders is directly proportional to smoking.

 

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Road accidents are the biggest reason behind traumatic brain injuries all over the world. Especially, if we talk about low-income countries like India, Pakistan or other African nations the prevalence of road accidents is more than usual. According to a report, annually around 450,000 accidents occur in India. Around 140,000-150,000 lose their lives and the rest develop serious health complications over the years due to severe injuries. Besides, growing smoking trends and nuclear plant setups are adding insult to injury because they are a major contributor to the prevalence of sporadic ALS.

 

 

Till now there are a few numbers of drugs approved by health agencies for curing amyotrophic lateral sclerosis such as Radicava, Nuedexta, Riluzole. Moreover, only Riluzole is taken into consideration the maximum times as it is slightly better than the rest. Therefore, governments research agencies and private players are allocating more and more funds so they can achieve a breakthrough in their quest of developing a more effective and cheaper alternative for Riluzole. For instance, Sanofi a famous biopharmaceutical company and a big player in the amyotrophic lateral sclerosis market spend more than 5 billion on R&D in 2021. The number has witnessed a big hike as compared to spendings in past.

 

 

 

Lou Gehrig’s disease is so rare that its treatment can cost someone a fortune. Edaravone is a mainstream drug or active ingredient in the treatment of ALS as it helps in the elimination of free radicals causing neuron damage. This drug can approximately $145,000 annually. Now including other costs like hospital bills, the entire treatment may cost around $200,000. On top of that, there is no guarantee that undergoing such treatments will improve a patient’s condition. Therefore, very low survival rates even after spending thousands of dollars can be a big setback in the growth of the respective market.

 

 

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Amyotrophic Lateral Sclerosis Market. Key companies of this market are-

 

Mylan N.V.

Sanofi S.A.

Biogen Inc.

Apotex Inc.

Mitsubishi Tanabe Pharma America

Sun Pharmaceutical

Ascend Pharmaceuticals

Covis Group

Ionis Pharmaceutical

ITF Pharma

 

 

On September 15, 2021, Paris, France-based healthcare company “Sanofi” clinched worth $3.2 billion acquisition of US-based clinical-stage company “Translate Bio” which deals in mRNA therapeutics. In this transaction, the existing shareholders of Translate Bio will receive $38 per share. Moreover, it will confer Sanofi the liberty to develop therapeutics with the help of acquired mRNA technology.

On September 8, 2021, Sanofi put itself in the spotlight when the company announced the successful acquisition of US-based biopharmaceutical company “kadman Corporation.” The total value of the transaction stands around $1.9 billion with $9.50 per share. The acquisition is supposed the reinforce the transplant business of Sanofi as post-acquisition it got access to Rezurock (a treatment for cGVHD illness).

On November 16, 2020, Switzerland-based company “Covis” announced the successful acquisition of Massachusetts, United States-based pharmaceutical firm “AMAG Pharmaceuticals” at a price of $650 million. The acquisition of AMAG extends Covis a strategic advantage in order to emerge as a specialty company in the development of life-threatening therapeutic.