Amyotrophic Lateral Sclerosis Market Size to Grow at a CAGR of 5.8% During the Forecast Period 2020–2025

Amyotrophic Lateral Sclerosis Market Report Overview Amyotrophic Lateral Sclerosis Market size in 2019 is estimated to be $ 547.2million, growing at a CAGR of 5.8% during the forecast period 2020-2025. Amyotrophic lateral sclerosis (ALS), or Lou Gehrig's disease, is a progressive neurodegenerative disorder that damages nerve cells in the central nervous system responsible for controlling the voluntary muscles. Symptoms of ALS include muscle twitching and muscles decreasing in size. Advancement in technology and rising geriatric population are the major factors driving the growth of the market. Moreover, rising disposable income and advancement of R&D activities further enhance the overall market demand for amyotrophic lateral sclerosis during the forecast period 2020-2025. Key Takeaways In 2019, North America dominates the Amyotrophic Lateral Sclerosis Market owing to increasing healthcare expenditure, and well-established healthcare infrastructure and technological advancement. Advancement in technology and rising geriatric population is driving the market growth of amyotrophic lateral sclerosis. Detailed analysis of the Strength, Weakness, and opportunities of the prominent players operating in the market will be provided in the Amyotrophic Lateral Sclerosis Market report. High costs of treatment and lack of skilled expertise are challenging the growth of the market. Drug Type - Segment Analysis Based on the Drug Type, Amyotrophic Lateral Sclerosis Market is segmented into Riluzole, Nuedexta. The Riluzole segment is forecast to be the fastest-growing segment and is projected to grow at a CAGR of 4.5% during the forecast period 2020-2025. This is mainly owing to it helps to slow down the worsening of this disease and prolong survival which are contributing to the growth of this segment. Treatment - Segment Analysis Based on the Treatment, Amyotrophic Lateral Sclerosis Market is segmented into Stem Cell Therapy, Chemotherapy, Medication. In 2019, medication held the largest share in the Amyotrophic Lateral Sclerosis Market. Medications such as riluzole and edaravone are the only two drugs that are approved by the Food and Drug Administration (FDA) to treat ALS. Moreover, medications help in relieving symptoms, spasticity, panic attacks, pain, and depression is also contributing to the growth of this segment. Geography - Segment Analysis North America dominated the Amyotrophic Lateral Sclerosis Market share accounting for 40% of the market in 2019. This is mainly owing to increasing healthcare expenditure, and well- established healthcare infrastructure and technological advancement. According to Centers for Disease Control and Prevention, about 14,000 – 15,000 people in US in 2016 having ALS, almost more than half of these cases could have been avoided with the availability of proper medical treatment. However, the Asia Pacific region is projected to be the fastest-growing during the forecast period 2020-2025. This is owing to increasing incidence of diseases and increasing growth in research and development activities. Drivers – Amyotrophic Lateral Sclerosis Market Advancement in Technology Advancement in Technology and increasing awareness in the treatment are some factors driving the market growth of this market. Moreover, the FDA also approved NeuRx Diaphragm Pacing System wherein implanted electrodes and batteries are used to contract diaphragm in the ALS population which are increasing the market growth of amyotrophic lateral sclerosis. Increasing Geriatric Population Increasing geriatric population increasing the incidence of ALS are some factor driving the growth of this market. According to the National Institute of Neurological Disorders and Stroke (NINDS) there is a 50% chance of inheriting the genetic mutation for each offspring and eventually developing the disorder which increases the risk of developing the disorder among the geriatric population contributing to the growth of Amyotrophic Lateral Schlerosis Market. Challenges – Amyotrophic Lateral Schlerosis Market High costs of treatment and lack of skilled expertise are challenging the growth of the market. Moreover, owing to high cost there is unawareness about the disease and availability of ineffective diagnosis methods are further restraining its market growth during the forecast period 2020-2025. Amyotrophic Lateral Schlerosis Industry Outlook Product launches, Merger & Acquisitions, joint ventures and R&D activities are key strategies adopted by players in the Amyotrophic Lateral Schlerosis Market. Amyotrophic Lateral Schlerosis top 10 companies are Brainstorm Cell Therapeutics, Sanofi, Biogen, Valeant Pharmaceuticals, Roche, Ionis Pharmaceuticals, Apotex, Mylan Pharma, Sun Pharma, Orion Pharmaceuticals, ViroMed, Mitsubishi Tanabe Pharma America , AB Science and Orphazyme. Acquisitions/Product Launches: On 25 May 2019, Biogen Inc. launches new product tofersen, an antisense oligonucleotide which are used for the treatment of amyotrophic lateral sclerosis (ALS) in adults with a confirmed superoxide dismutase 1 (SOD1) mutation. On 10 April 2018, Biogen has acquisition with Ionic Pharmaceuticals and develop neurological drugs i.e Spinraza to develop the spinal muscular atrophy (SMA) treatment.