Amyotrophic Lateral Sclerosis (ALS) Treatment Market Size
|2019 - 2029
|Base Year For Estimation
|Forecast Data Period
|2024 - 2029
|Fastest Growing Market
*Disclaimer: Major Players sorted in no particular order
Need a report that reflects how COVID-19 has impacted this market and its growth?
Amyotrophic Lateral Sclerosis (ALS) Treatment Market Analysis
The amyotrophic lateral sclerosis treatment market is expected to register a CAGR of 6.3% during the forecast period (2022-2027).
COVID-19 had a significant impact on the studied market as it affected not only diagnostic and treatment procedures but also research and development activities in the area. For instance, in June 2020, the World Health Organization issued the results of a survey conducted in 155 countries for three weeks in May 2020, which showed that the prevention and treatment services of various chronic diseases, including various neurodegenerative disorders, had been severely disrupted, and this has become a significant concern because people living with chronic disorders were at higher risk of severe COVID-19-related illness and death. Therefore, COVID-19 harmed the studied market.
In addition, the rising prevalence of amyotrophic lateral sclerosis and the growing geriatric population are actively affecting the growth of the studied market.
According to the United Nations World Population Prospects 2022 report, there are 77.1 million people aged 65 years or over living in the world in 2022, and this number is projected to reach 1.6 billion by the year 2050. This surge in the geriatric population is expected to increase the burden of rare neurological diseases which is likely to augment the growth of the studied market over the forecast period.
Furthermore, the article titled "Estimated Prevalence and Incidence of Amyotrophic Lateral Sclerosis and SOD1 and C9orf72 Genetic Variants" published in Neuroepidemiology Journal in July 2021 stated that combined prevalence rates (per 100,000 people) and incidence rates (per 100,000 person-years) were 6.22 and 2.31 for Europe, 5.20 and 2.35 for North America, 3.41 and 1.25 for Latin America, 3.01 and 0.93 for Asian countries excluding Japan, and 7.96 and 1.76 for Japan, respectively. The increase in prevalence and incidence of the disease is expected to increase the demand for the treatment and thus boost the market growth.
The advancements and increasing product approvals, along with partnerships and collaborations by key players are helping in the market growth. For instance, in June 2021, CRISPR Therapeutics and CapsidaBiotherapeutics Inc. entered into a strategic partnership to research, develop, manufacture and commercialize in vivo gene editing therapies using CRISPR technology delivered with engineered AAV vectors for the treatment of familial amyotrophic lateral sclerosis (ALS) and Friedreich's ataxia. Such partnerships are likely to bolster market growth.
Therefore, owing to the aforementioned factors the studied market is anticipated to witness growth over the analysis period. However, the high cost of treatment is likely to impede market growth.
Amyotrophic Lateral Sclerosis (ALS) Treatment Market Trends
This section covers the major market trends shaping the Amyotrophic Lateral Sclerosis Treatment Market according to our research experts:
Medications Are Expected To Witness Healthy Growth Over the Forecast Period
Medications in amyotrophic lateral sclerosis treatment are estimated to witness healthy growth as they help relieve symptoms, panic attacks, pain, and depression. Medications such as riluzole and edaravone are the only two drugs that are approved by the Food and Drug Administration (FDA) to treat amyotrophic lateral sclerosis.
According to the research article titled "Global variation in prevalence and incidence of amyotrophic lateral sclerosis: a systematic review and meta-analysis" published in the Journal of Neurology in April 2020, the overall crude worldwide ALS prevalence and incidence were 4.42 per 1,00,000 population and 1.59 per 1,00,000 person-years, respectively. ALS prevalence and incidence increased by age until the age of 70-79. Hence, the rising prevalence of ALS diseases worldwide will likely trigger the demand for these drugs for treatment and thereby drive segment growth.
Furthermore, the engagement of various companies in clinical trials and new drug development associated with amyotrophic lateral sclerosis treatment will boost the growth of the market segment. For instance, in April 2020, GENUV, Inc. began the Phase 1 and 2 clinical trials to evaluate the safety, tolerability, and efficacy of trametinib (SNR1611) in the treatment of amyotrophic lateral sclerosis and was expected to be completed by March 2022.
Therefore, there is a growth in the medication segment of the studied market over the forecast period.
North America is Expected is Expected to Dominate Amyotrophic Lateral Sclerosis Market Over the Forecast Period
North America is expected to dominate the market owing to factors such as the rising incidence of rare neurological diseases, growing geriatric population, the strong presence of industry players in the region, better healthcare infrastructure, awareness among people and healthcare industry stakeholders about available technologies, and the high concentration of market players in the United States.
The article titled "Estimated Prevalence and Incidence of Amyotrophic Lateral Sclerosis and SOD1 and C9orf72 Genetic Variants" published in Neuroepidemiology journal in July 2021 stated that combined prevalence rates (per 100,000 people) and incidence rates (per 100,000 person-years) were 5.20 and 2.35 for North America. The increase in the geriatric population in the region followed by a surge in prevalence and incidence of the disease is expected to increase the demand for the treatment and thus boost the market growth in the region.
Various measures adopted by the government or healthcare organizations to spread awareness about the disease and increase research and drug development. For instance, in June 2022, the United States Food and Drug Administration (FDA) launched an action plan for Rare Neurodegenerative Diseases including Amyotrophic Lateral Sclerosis (ALS). This action plan is the five-year strategy being implemented by the United States FDA for improving and extending the lives of people living with rare neurodegenerative diseases across the country. The major focus of this plan is on advancing the development of safe and effective medical products and providing complete access to novel treatments to all patients. Such initiatives are likely to augment the market growth in the region.
Therefore, owing to the above-mentioned factors, the growth of the studied market is anticipated in the North America Region.
Amyotrophic Lateral Sclerosis (ALS) Treatment Industry Overview
The amyotrophic lateral sclerosis treatment market is slightly fragmented in nature due to the presence of several companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international and local companies that hold market shares and are well known. Some companies 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 F.Hoffmann-La Roche AG.
Amyotrophic Lateral Sclerosis (ALS) Treatment Market Leaders
Mitsubishi Tanabe Pharma Corporation
BrainStorm Cell Limited
Amylyx Pharmaceuticals Inc.
*Disclaimer: Major Players sorted in no particular order
Amyotrophic Lateral Sclerosis (ALS) Treatment Market News
- In June 2022, Canada approved Amylyx Pharmaceuticals Inc.'s new drug ALBRIOZA (also known as AMX0035) for amyotrophic lateral sclerosis.
- In May 2022, Mitsubishi Tanabe Pharma America received the United States Food and Drug Administration Approval for RADICAVA ORS (edaravone) for the Treatment of amyotrophic lateral sclerosis.
Amyotrophic Lateral Sclerosis (ALS) Treatment Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Prevalence of Amyotrophic Lateral Sclerosis
4.2.2 Growing Geriatric Population
4.3 Market Restraints
4.3.1 High Cost of Treatment
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 By Treatment Type
5.2 By Distribution Channel
5.2.1 Hospital Pharmacies
5.2.2 Retail Pharmacies
5.3.1 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.3.4 Middle East and Africa
22.214.171.124 South Africa
126.96.36.199 Rest of Middle East and Africa
5.3.5 South America
188.8.131.52 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Mitsubishi Tanabe Pharma Corporation
6.1.2 Sun Pharmaceutical Industries Ltd.
6.1.3 CORESTEM, Inc
6.1.4 BrainStorm Cell Limited
6.1.5 Amylyx Pharmaceuticals Inc.
6.1.6 AB Science
6.1.7 Ionis Pharmaceuticals
6.1.8 Biohaven Pharmaceutical
6.1.10 CRISPR Therapeutics
6.1.11 AbbVie Inc.
6.1.12 Boehringer Ingelheim International GmbH
6.1.13 Otsuka Pharmaceutical Co., Ltd.
6.1.14 ANNEXON, INC.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Amyotrophic Lateral Sclerosis (ALS) Treatment Market Research FAQs
What is the current Global Amyotrophic Lateral Sclerosis Treatment Market size?
The Global Amyotrophic Lateral Sclerosis Treatment Market is projected to register a CAGR of 6.30% during the forecast period (2024-2029)
Who are the key players in Global Amyotrophic Lateral Sclerosis Treatment Market?
Mitsubishi Tanabe Pharma Corporation, CORESTEM, Inc, BrainStorm Cell Limited, Amylyx Pharmaceuticals Inc. and Biogen are the major companies operating in the Global Amyotrophic Lateral Sclerosis Treatment Market.
Which is the fastest growing region in Global Amyotrophic Lateral Sclerosis Treatment Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Amyotrophic Lateral Sclerosis Treatment Market?
In 2024, the North America accounts for the largest market share in Global Amyotrophic Lateral Sclerosis Treatment Market.
What years does this Global Amyotrophic Lateral Sclerosis Treatment Market cover?
The report covers the Global Amyotrophic Lateral Sclerosis Treatment Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Amyotrophic Lateral Sclerosis Treatment Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Amyotrophic Lateral Sclerosis Treatment Industry Report
Statistics for the 2024 Amyotrophic Lateral Sclerosis Treatment market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Amyotrophic Lateral Sclerosis Treatment analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.