The global Amyotrophic Lateral Sclerosis market is expected to garner a market value of USD 743.90 Million in 2023 and is expected to accumulate a market value of USD 1332.22 Million by registering a CAGR of 6% in the forecast period 2023 to 2033. The growth of the Amyotrophic Lateral Sclerosis market can be attributed to the rising geriatric population, growing awareness about ALS, and increasing incidence rate. The market for Amyotrophic Lateral Sclerosis registered a CAGR of 4% in the historical period 2017 to 2022.
Supplemental approvals for existing treatment options are likely to bolster market growth in future years. In addition to that, many renowned companies are aiming to submit their applications for approval for new drug therapies, which is another crucial factor that is estimated to aid the growth.
| Report Attribute | Details |
|---|---|
| Expected Market Value (2023) | USD 743.90 Million |
| Anticipated Forecast Value (2033) | USD 1332.22 Million |
| Projected Growth Rate (2023 to 2033) | 6% CAGR |
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According to market research and competitive intelligence provider Future Market Insights- the market for Amyotrophic Lateral Sclerosis reflected a value of 4% during the historical period, 2017 to 2022. National lockdown, government controls, and a spike in infection rates across countries all had a major financial impact on client engagement.
Amyotrophic lateral sclerosis, a progressive neurodegenerative disorder, damages nerve cells in the central nervous system responsible for controlling voluntary muscles. As per studies, around half of the people suffering from ALS may lose the ability to swallow, breathe, speak, walk, and use their hands. Thus, the market for Amyotrophic Lateral Sclerosis is expected to register a CAGR of 6% in the forecast period 2023 to 2033.
Increasing incidence of cancer to push the market growth
The increasing prevalence of amyotrophic lateral sclerosis disease is one of the biggest drivers of the market. According to the National Institute of Neurological Disorders and Stroke (NINDS), following gradual paralysis, patients with ALS often die from respiratory failure within 3-5 years. It also states that between the two types of ALS, the sporadic type is the most common form, accounting for 90- 95% of all cases in the USA while the familial type accounts for the rest.
In addition to this, an inclination of the population towards a stationary lifestyle and an increasing geriatric population has increased the demand for targeted and indicated treatment options, which are driving the global amyotrophic lateral sclerosis market.
Expensive Cost of Treatment to restrict Market Growth
The expensive treatment of Amyotrophic lateral sclerosis, less awareness of amyotrophic lateral sclerosis disease, and insubstantial treatment options are hampering the market growth.
Increased revenue generation propelling the growth of Amyotrophic Lateral Sclerosis in Asia Pacific
The Asia Pacific is expected to exhibit the fastest growth rate of all regions over the forecast period, with a CAGR of 5% during the forecast period.
The industry is witnessing increasing revenue generation in this region, especially in India and China. Major factors propelling the market growth in this region include growing Research and Development investment in the healthcare sector, plenty of unexplored opportunities, and promising initiatives by the manufacturers as well as the governments.
High Concentration of Key Players shaping the landscape for Amyotrophic Lateral Sclerosis in North America
North America is anticipated to acquire a market share of about 20% in the forecast period. This growth is attributable to the availability of recently developed immunosuppressants and the presence of a favorable reimbursement scenario across the USA.
It is estimated that the high healthcare expenditure along with the huge demand for ALS drugs, and established healthcare infrastructure are the factors driving the market. According to the data published in the Centers for Disease Control and Prevention (CDC) Morbidity and Mortality Weekly Report, in 2015 around 16,583 cases of amyotrophic lateral sclerosis were identified in the USA
Besides, the presence of a large number of significant pharmaceutical companies in the USA is set to bode well for the North American market. Thus, given the aforementioned factors, the market is expected to grow significantly over the forecast period in North America.
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The superior efficiency of Stem cell therapy bolsters the growth
On the basis of treatment, the segment has been divided into medications, stem cell therapies, and others. Stem cell therapy is expected to show the highest CAGR owing to the increasing demand for new approaches and advanced treatment options. In addition to this, several initiatives have been taken by the government authoritative bodies and the Collaborative ALS Drug Discovery Initiative (CADDI) to fast-track the development of novel drugs and treatments.
Hospital pharmacies to drive market growth
The distribution channel segment has been divided into hospital pharmacies, retail pharmacies, and others. According to the FMI analysis, Hospital pharmacies account for the largest market share. The requirement for several hospital stays and visits during ALS treatment facilitates the growth of this segment.
Key start-up players in the Amyotrophic Lateral Sclerosis market are-
Key players in the Amyotrophic Lateral Sclerosis market are Mitsubishi Tanabe Pharma Corporation; Otsuka Pharmaceutical Co., Ltd.; BrainStorm Therapeutics; Biogen Inc.; Corestem; AB Science; F.Hoffmann-La Roche AG; Biohaven Pharmaceutical; Sun Pharmaceutical; and Ionis Pharmaceuticals, Inc.
| Report Attribute | Details |
|---|---|
| Market Value in 2023 | USD 743.90 Million |
| Market Value in 2033 | USD 1332.22 Million |
| Growth Rate | CAGR of 6% from 2023 to 2033 |
| Base Year for Estimation | 2022 |
| Historical Data | 2017 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Treatment, Distribution Channel, Region |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; Middle East and Africa (MEA) |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASIAN, GCC Countries, South Africa |
| Key Companies Profiled | Mitsubishi Tanabe Pharma Corporation; Otsuka Pharmaceutical Co., Ltd.; BrainStorm Therapeutics; Biogen Inc.; Corestem; AB Science; F.Hoffmann-La Roche AG; Biohaven Pharmaceutical; Sun Pharmaceutical; Ionis Pharmaceuticals, Inc. |
| Customization | Available Upon Request |
From 2017 to 2022, the Amyotrophic Lateral Sclerosis market grew at a CAGR of 4%.
The global Amyotrophic Lateral Sclerosis market is expected to grow with a 6% CAGR from 2023 to 2033.
As of 2033, the Amyotrophic Lateral Sclerosis market is expected to reach USD 1332.22 Million
According to the FMI analysis, Hospital pharmacies account for the largest market share.
Stem cell therapy is expected to show the highest CAGR owing to the increasing demand for new approaches.
North America is expected to possess 20% market share for Amyotrophic Lateral Sclerosis market.
The Asia Pacific market is predicted to increase significantly throughout the forecast period, with a CAGR of 5% during the forecast period.
| Expected Market Value (2023) | USD 45,165.6 million |
|---|---|
| Anticipated Forecast Value (2033) | USD 59,514.3 million |
| Projected Growth Rate (2023 to 2033) | 2.8% |
| Market Size (2023) | USD 1.0 Billion |
|---|---|
| Projected Market Value (2033) | USD 2.2 Billion |
| Market CAGR (2023 to 2033) | 7.9% |
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Amyotrophic Lateral Sclerosis Market
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