June 23, 2024

The Amyotrophic Lateral Sclerosis Treatment Market Poised for Significant Growth by 2031 owing to rising focus on developing novel disease-modifying therapies

The global amyotrophic lateral sclerosis (ALS) treatment market is estimated to be valued at US$ 692.77 Mn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2024-2031.

Amyotrophic lateral sclerosis (ALS), also known as Lou Gehrig’s disease, is a fatal, neurodegenerative disease that causes the death of neurons controlling voluntary muscles. This results in weakness, muscle atrophy and being eventually paralyzed. Currently, there is no cure available for ALS and the available treatment landscape focuses on managing the disease symptoms and improving quality of life. Some of the available treatment options include Riluzole, Edaravone, non-invasive ventilation and percutaneous endoscopic gastrostomy. The growth of the ALS treatment market is driven by the increasing geriatric population, rising prevalence of ALS, research collaborations for novel therapies and growing public awareness about the disease.

Key Takeaways

Key players operating in the amyotrophic lateral sclerosis (ALS) 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. Key players are focusing on pipeline development through research collaborations to develop novel disease-modifying therapies for long-term treatment of ALS.

The global amyotrophic lateral sclerosis treatment market is witnessing high growth owing to the rising prevalence of ALS and increasing demand for effective treatment options. As per estimates, around 16,000 Americans are living with ALS at any given time and about 5,000 new cases are diagnosed each year in the US alone. The increasing number of patients diagnosed with ALS represents a huge patient pool seeking effective treatment regimens.

The market is also witnessing expansion in developed as well as developing regions. Pharmaceutical companies are focusing on expanding their geographic footprint and improving access to ALS treatment in emerging Asian and Latin American countries. Research partnerships and collaboration between pharmaceutical players, research institutes and regulatory bodies are also fueling the global reach of ALS therapeutics.

Market Key Trends

One of the major trends in the amyotrophic lateral sclerosis (ALS) treatment market is the rising focus on developing novel disease-modifying therapies. Currently, there are no approved treatments that can stop or reverse the progression of ALS. However, companies like BrainStorm Cell Therapeutics, Biogen etc. are conducting research to develop innovative gene therapies, cell therapies and biomarkers that can potentially slow down or halt the progression of the disease. If successful, these novel treatment approaches can transform the ALS treatment landscape.

Porter’s Analysis

Threat of new entrants: Low barriers due to significant R&D investments and clinical trials required.

Bargaining power of buyers: Limited options available act as bargaining power for buyers.

Bargaining power of suppliers: Presence of many suppliers limits individual suppliers’ bargaining power.

Threat of new substitutes: Limited substitutes for ALS treatment due to lack of approved therapies and focus on symptom management.

Competitive rivalry: High due to large unmet need and focus on new mechanism and pipeline drugs.

Geographical Regions

North America dominated the global ALS treatment market in terms of value in 2023 due to high awareness, favorable reimbursement policies and presence of key market players. The U.S. accounted for the largest share due to increasing disease prevalence and approvals of new therapies. Europe was the second largest regional market led by Germany, France, and the U.K.

The Asia Pacific region is expected to be the fastest growing market during the forecast period owing to rising healthcare investments, growing disposable income, and increasing patient population. Countries such as China and India are expected to contribute significantly to the regional market growth. Improving access to diagnosis and care is also propelling the market in developing nations.

Geographical Regions

North America dominated the global ALS treatment market in terms of value in 2023 due to high awareness, favorable reimbursement policies and presence of key market players. The U.S. accounted for the largest share due to increasing disease prevalence and approvals of new therapies. Europe was the second largest regional market led by Germany, France, and the U.K.

The Asia Pacific region is expected to be the fastest growing market during the forecast period owing to rising healthcare investments, growing disposable income, and increasing patient population. Countries such as China and India are expected to contribute significantly to the regional market growth. Improving access to diagnosis and care is also propelling the market in developing nations.

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  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it