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Amyotrophic Lateral Sclerosis Treatment Market Size to Hit USD 436.17 Million by 2027 at 5.52% CAGR Reported by Brandessence Market Research
LONDON, March 30, 2023 /PRNewswire/ -- The Global Amyotrophic Lateral Sclerosis Treatment Market was worth USD 316.01 million in 2020 and is poised to amass a valuation of USD 436.17 million by 2027, witnessing a CAGR of 5.52% over the assessment timeline of 2022-2029.
Amyotrophic Lateral Sclerosis, also known as Lou Gehrig's disease, is a rare neurological disorder that leads to muscle weakening which in turn impacts the entire physical function of the patient. It mostly begins with weakness in limb, slurred speech, and muscle twitching. According to experts, sudden mutations in more than a dozen genes predominantly results in ALS. As of now there is no proven cure for this ailment, but certain drugs and therapies have been develop to reduce the symptoms and limit disease progression.
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Global Amyotrophic Lateral Sclerosis Treatment Market Outlook (2022-2029)
The growing prevalence of neurological disorders, rising healthcare expenditure, and technological advancements in the field are primarily augmenting the outlook of this business sphere.
Alongside, surge in the geriatric population base, the booming medical research vertical, and rapidly evolving healthcare infrastructure across various regions are creating lucrative opportunities for this industry vertical to prosper.
Moreover, presence of favorable reimbursement scenario across numerous nations is aiding the expansion of this marketplace.
On the flipside, low availability of the drugs used to treat this disease due to its rare nature is hindering the remuneration scope of this market.
The prominent players defining the competitive terrain of the Global Amyotrophic Lateral Sclerosis Treatment Market are Mitsubishi Tanabe Pharma Corporation, Sun Pharmaceutical Industries Ltd., CORESTEM, Inc., BrainStorm Cell Limited, Amylyx Pharmaceuticals Inc., AB Science, Ionis Pharmaceuticals, Biohaven Pharmaceutical, Biogen, and Others.
- Sporadic ALS
- Familial ALS
- Physical Therapy
- Respiratory Therapy
- Speech Therapy
By End User
- Specialty Centers
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Which is the leading region in the Global Amyotrophic Lateral Sclerosis Treatment Market?
North America is reckoned to lead the market in terms of revenue share over the stipulated timeline of 2022-2029. This is attributable to the rising cases of ALS, surge in the elderly population base, and presence of favourable medical reimbursement policies.
How is Asia Pacific faring in this industry?
Asia Pacific is likely to garner high revenue over 2022-2029 owing to the growing pervasiveness of neurological disorders, rising health cognizance among the masses, and increasing healthcare expenditure.
Which is the top performing type segment in this business sphere?
The sporadic ALS segment is slated to amass notable gains in the ensuing years. This is due to the increasing prevalence of sporadic ALS and advancements in understanding the genetics of familial ALS.
Which treatment segment is expected to witness the highest profit over 2022-2029?
The medication segment is projected to amplify with a substantial CAGR ascribing to the potential of many ALS drugs to limit the progression of this disease and reduce the severity of its symptoms.
Which is the fastest growing end user segment in this industry?
The hospitals segment has emerged as the fastest growing end user segments in this market sphere. This is credited to the availability of skilled professionals and adequate infrastructure across hospitals to facilitate the treatment of ALS.
Comparing the historical outlook and ongoing trends of this market
The Global Amyotrophic Lateral Sclerosis Treatment Market is expected to generate significant returns over the assessment of 2022-2029.
There has been a rising pervasiveness of ALS across the globe. This is predominantly credited to the surge in geriatric population and factors such as genetic issues. In fact, there are around 20,000 people living with ALS in the US alone, and approximately 5,000 new cases are diagnosed every year. This in turn has created a high demand for associated drugs and therapies, thereby stimulating the overall dynamics of this industry vertical.
The increasing healthcare spending globally is another growth stimulant for this industry with in turn is providing more resources for ALS research and treatment. Governments and private organizations are investing more in ALS research, which is leading to new discoveries and breakthroughs in treatment. This trend is expected to continue in the coming years, further driving the expansion of the ALS treatment market.
Patient advocacy groups are playing a vital role in driving awareness of ALS and supporting research efforts. These groups are also advocating for better access to treatments for patients and their families. The growing health cognizance among the masses coupled with their increased healthcare spending are some of the contributing factors as well. The support and advocacy from these groups is creating profitable prospects for this business sphere.
Apart from that, various collaborations and partnerships between biotech and pharmaceutical companies, research institutes, and non-profit organizations are driving innovation in the ALS treatment market. These collaborations are bringing together diverse expertise and resources to accelerate drug development and bring new treatments to market. These factors together are positively swaying the outlook of this industry vertical during the projected timeline of 2022-2029.
On Special Requirement Amyotrophic Lateral Sclerosis Treatment Market for Cancer Treatment Market Report is also available for below region:
- U.S, Canada
- Germany, France, U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe
- South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC
- Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America
- Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA
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In March 2019, Biogen completed its acquisition of Nightstar Therapeutics, a clinical-stage gene therapy company focused on inherited retinal diseases. The acquisition included Nightstar's pipeline of gene therapy programs, including a potential gene therapy for ALS.
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