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 amyotrophic lateral sclerosis market has been segmented based on type, treatment, end-user, and regions.
By type, the amyotrophic lateral sclerosis market has been segmented into sporadic ALS and familial ALS. The Sporadic ALS segment is dominating the market. The prevalence of sporadic ALS is relatively high and almost 90% of the cases are sporadic. The cause of sporadic ALS remains unknown and a combination of genetic and environmental risk factors are presumed to be the underlying cause of the diseases. The occurrence of familial ALS is very low and are inherited from genetic mutations.
By treatment, the amyotrophic lateral sclerosis market has been segmented into medication, physical therapy, respiratory therapy, speech therapy, and others. The medication segment is dominating the market as most patients opt for medicines a s a treatment method. Medications are effective and economical.
By end-user, the amyotrophic lateral sclerosis market has been segmented into hospitals, specialty centers, research & academic institutes, and others. The hospitals segment is domineering the markets. Hospitals are generally the first point of treatment and are highly proffered by patients.
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.
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.
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.
1 Executive Summary
2 Market Introduction
2.1 Definition 17
2.2 Scope of the Study 17
2.3 List of Assumptions 17
2.4 Market Structure 18
3 Research Methodology
3.1 Research Process 20
3.2 Primary Research 21
3.3 Secondary Research 22
3.4 Market Size Estimation 23
3.5 Forecast Model 23
4 Market Dynamics
4.1 Overview 25
4.2 Drivers 26
4.2.1 Growing Incidence of Amyotrophic Lateral Sclerosis (ALS) 26
4.2.2 Rising Geriatric Population 26
4.2.3 Growing Awareness about Amyotrophic Lateral Sclerosis 26
4.3 Restraints 27
4.3.1 High Cost of ALS Treatment 27
4.4 Opportunities 27
4.4.1 Increasing Strategic Collaborations of Major Companies and Research Institutes for the Development of ALS Treatment 27
5 Market Factor Analysis
5.1 Porter’s Five Forces Model 29
5.1.1 Bargaining Power of Suppliers 30
5.1.2 Bargaining Power of Buyers 30
5.1.3 Threat of New Entrants 30
5.1.4 Threat of Substitutes 30
5.1.5 Intense Rivalry 30
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