Market Overview:
Amyotrophic lateral sclerosis (ALS), also known as Lou Gehrig’s disease, is a fatal neurodegenerative disease that progressively destroys motor neurons which carry signals from the brain to the muscles causing their weakness. Treatments include riluzole, edaravone and treatments to relieve symptoms.
The global Amyotrophic Lateral Sclerosis Treatment Market is estimated to be valued at US$ 692.77 Million in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trend in the market is rising research and development activities for developing novel treatments for ALS. For instance, in September 2022, BrainStorm Cell Therapeutics released positive 12-month interim analysis data from phase 3 NurOwn ALS clinical trial evaluating safety and efficacy of autologous MSC-NTF cells in ALS patients. The trial met all primary and secondary endpoints, showing significant benefit to ALS patients who received three intrathecal administrations of autologous MSC-NTF cells over a five-month period. Such ongoing clinical trials are expected to bring novel treatment options and drive the market growth over the forecast period.
SWOT Analysis
Strength: R&D investments by key players and government funding for ALS treatment research. Various drug candidates in clinical trials can potentially drive market growth.
Weakness: High cost of ALS treatment and drugs pose challenges in market growth. Lack of approved therapies and low treatment success rate.
Opportunity: Increasing awareness about ALS condition and supportive care. Emergence of combination therapies and strategic collaborations between pharmaceutical companies.
Threats: Stringent regulatory approvals for new drug candidates. Delay in drug development and clinical trials can negatively impact the market. Substitution threat from alternative therapies.
Key Takeaways
The global Amyotrophic Lateral Sclerosis Treatment market is expected to witness high growth, exhibiting a CAGR of 4.6% over the forecast period, due to increasing R&D investments from pharma companies and government funding for finding novel treatment options.
Regional analysis: North America dominates the global ALS treatment market and is expected to continue its dominance over the forecast period. This is attributed to the growing ALS patient pool, rising healthcare expenditure, and availability of advanced healthcare facilities in the region. However, Asia Pacific is anticipated to exhibit the highest growth rate owing to increasing healthcare awareness, healthcare reforms, large population base, and rapid economic growth in emerging Asian countries including India and China.
Key players operating in the Amyotrophic Lateral Sclerosis Treatment market are Orion Corporation, Bausch Health Companies Inc., CYTOKINETICS, INC., Aquestive Therapeutics, Inc., Sanofi, Covis Pharma, Sun Pharmaceuticals Industries Ltd, Mitsubishi Tanabe Pharma Corporation, BrainStorm Cell Limited, ViroMed Co., Ltd, Ionis Pharmaceuticals, Genervon Biopharmaceuticals, LLC, Biogen, Orphazyme A/S, Apotex Inc, Neuralstem, Inc., Implicit Bioscience, F. Hoffmann-La Roche Ltd, AB Science, ADVANZ PHARMA. These players are involved in various strategic alliances and new product launches to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it