According to the latest market report published by Credence Research, Inc. “Amyotrophic lateral sclerosis (ALS) Treatment Market – Growth, Future Prospects and Competitive Analysis, 2017 – 2025” the global amyotrophic lateral sclerosis treatment market was valued at US$ 51.04 Mn in 2016, and is expected to reach US$ 306.6 Mn by 2025, expanding at a CAGR of 21.1% from 2017 to 2025.
Amyotrophic lateral sclerosis (ALS) is also known as Lou Gehrig’s disease or Maladie De Charcot, it is a neurological disease that causes death of nerve cells that control voluntary muscles. According to National Organization for Rare Disorders (NORD), ALS is a is a rare disorder that affects approximately 30,000 people in the United States, approximately 5,000 new cases are diagnosed each year in the United States. Currently, there is no cure for ALS however, treatments are available to control symptoms and to prevent complications.
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The U.S. Food and Drug Administration (FDA) has approved only two drugs for the treatment of ALS it includes Riluzole and Edaravone, other medications are prescribe to control ALS symptoms. It is studied that in the base year 2016, Riluzole (Rilutek) was major revenue generating segment because riluzole was the only approved drug for a treatment of ALS, however patent expiry of Rilutek in 2013 has been negatively impacting the ALS treatment market growth. On the other hand, recently approved medication Edaravone (Radicava) expected to show highest growth rate during forecast period due to its applicability and higher cost would drive market growth. Moreover strong pipeline molecule such as AB-1010 (masitinib), Methycobal (mecobalamin), Arimoclomol, CK-2017357 (CK-357, tirasemtiv) would assist ALS treatment market growth during forecast period. It is observed that, in the base year 2016, North America was dominating ALS treatment market in terms of revenue due to the factors such as upsurge in funding by government agencies and private organizations in healthcare system, increase in prevalence of the neurological diseases and higher treatment awareness are fueling market growth in North America. It is anticipated that, Asia Pacific will grow significantly during forecast period due to increasing healthcare awareness, increasing partnership of key players such as Biogen, Avicena, Mitsubishi Tanabe, and Sanofi with local manufacturer, populous countries and developing economic condition would fuel ALS treatment market growth.
Market Competition Assessment:
The Amyotrophic lateral sclerosis (ALS) market is observed to be highly competitive and comprises large number of players. However, the market is currently dominated by few players such as AB Science, Avicena Group, Biogen, BrainStorm Therapeutics, Covis Pharmaceutical Inc., Cytokinetics Inc., Eisai Co. Ltd., GlaxoSmithKline plc., Ionis Pharmaceuticals, Inc., Mitsubishi Tanabe Pharma Corp., Neuralstem Inc., Neuraltus Pharmaceuticals Inc., Newron Pharmaceuticals S.p.A., Nutra Pharma Corp., Pharnext SAS, Q-Therapeutics Inc. and other.
Key Market Movements:
– Factors such as increasing treatment awareness, increase in incidence of ALS, strong pipeline molecules, rising geriatric population, favorable reimbursement policies in some countries and expected launch of newer medication would drive the growth of ALS treatment market globally.
– Due to the higher number of unmet needs, manufacturers in the market are focusing on innovation and technological advances in treatment options would further influence the growth of ALS treatment market globally.