The global amyotrophic lateral sclerosis treatment market is driven by factors such as an increase in prevalence of amyotrophic lateral sclerosis, initiatives by government and non-government organizations, and growth in awareness and understanding of ALS.
PORTLAND, Ore., May 12, 2023 /PRNewswire/ — Allied Market Research published a report, titled, “Amyotrophic Lateral Sclerosis Treatment Market by Drug (Riluzole, Edaravone, and Others), by Type, (Sporadiac ALS and Familial ALS), and by Distribution Channel, (Hospital Pharmacies, Online Providers, and Drug Stores & Retail Pharmacies): Global Opportunity Analysis and Industry Forecast, 2023-2032”. According to the report, the global amyotrophic lateral sclerosis treatment industry generated $0.6 billion in 2022, and is anticipated to generate $1.0 billion by 2032, witnessing a CAGR of 4.6% from 2023 to 2032.
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Prime determinants of growth
Increase in prevalence of amyotrophic lateral sclerosis, initiatives by government and non-government organizations, and growth in awareness and understanding of ALS drive the growth of the global amyotrophic lateral sclerosis treatment market. However, the side effects of amyotrophic lateral sclerosis drugs restricts the market growth. Moreover, increase in R&D activities presents new opportunities in the coming years.
Report coverage & details:
|
Report Coverage |
Details |
|
Forecast Period |
2023–2032 |
|
Base Year |
2022 |
|
Market Size in 2022 |
$0.6 billion |
|
Market Size in 2032 |
$1.0 billion |
|
CAGR |
4.6 % |
|
No. of Pages in Report |
260 |
|
Segments covered |
Drug, Type, Distribution Channel, and Region. |
|
Drivers |
Increase in prevalence of amyotrophic lateral sclerosis Initiatives by government and non-government organizations Growth in awareness and understanding of ALS |
|
Opportunity |
Increase in R&D activities |
|
Restraint |
Side effects of drugs |
Impact of Covid-19 on Amyotrophic Lateral Sclerosis Treatment Market
- COVID-19 pandemic had a negative effect on the global amyotrophic lateral sclerosis treatment market owing to decrease in demand for ALS drugs due to the low hospitalization visits and cancellation of many surgeries due to pandemic.
- In addition, pandemic disrupted supply chains and manufacturing processes, which led to shortages of ALS drugs that hampered the market growth during pandemic.
- However, the market is recovering after pandemic, and show stable growth for amyotrophic lateral sclerosis treatment market owing to ongoing research into the causes and treatment of ALS led to development of new therapies and treatment approaches and rise in prevalence of amyotrophic lateral sclerosis.
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The Riluzole segment to maintain its leadership status throughout the forecast period
Based on drug, the Riluzole segment held the largest market share in 2022, accounting for nearly three-fifths of the global amyotrophic lateral sclerosis treatment market revenue, and is estimated to maintain its leadership status throughout the forecast period. The same segment is expected to witness the fastest CAGR of 5.7% from 2023 to 2032. Riluzole is a medication that works by reducing the release of glutamate, a neurotransmitter that may damage motor neurons in people with ALS which supports segment growth.
The sporadic ALS segment to maintain its leadership status throughout the forecast period
Based type, the sporadic ALS segment held the largest market share in 2022, accounting for more than 90% of the global amyotrophic lateral sclerosis treatment market and is estimated to maintain its leadership status throughout the forecast period. Rise in cases of sporadic ALS and increase in awareness about these diseases, along with early diagnostic tools and protocols are expected to fuel the segment growth. However, the familial ALS segment is expected to witness the fastest CAGR of 8.5% from 2023 to 2032. The growing cases of familial ALS has increases the demand for ALS treatment which propels the growth of segment.
The drug stores & retail pharmacies segment to maintain its lead position during the forecast period
Based on distribution channel, the drug store & retail pharmacies segment accounted for the largest share in 2022, contributing to more than half of the global amyotrophic lateral sclerosis treatment market revenue, and is anticipated to maintain its lead position during the forecast period. Easy availability of ALS medications in drug stores & retail pharmacies drives the segmental growth. However, the online providers segment is expected to witness the fastest CAGR of 5.7% from 2023 to 2032. Easy availability of amyotrophic lateral sclerosis drugs which helps patients buy products at ease and surge in usage of online apps which is expected to drive the growth of the segment.
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North America to maintain its dominance by 2032
Based on region, North America held the largest market share in terms of revenue in 2022, accounting for more than two-fifths of the global amyotrophic lateral sclerosis treatment market revenue and is likely to dominate the market during the forecast period. Easy availability of products for diagnosis, and higher healthcare expenditure, increase in awareness about early diagnosis of disease and higher adoption of drugs for the treatment of amyotrophic lateral sclerosis promoted the growth of the amyotrophic lateral sclerosis treatment market in North America. However, the Asia-Pacific region is expected to witness the fastest CAGR of 6.3% from 2023 to 2032. Increase in health awareness, surge in awareness of preventive healthcare, and rise in prevalence of amyotrophic lateral sclerosis in the Asia-Pacific region, is expected to drive the growth of the amyotrophic lateral sclerosis treatment market.
Leading Market Players: –
- Aquestive Therapeutics Inc.
- Glenmark Pharmaceuticals Limited
- Sun Pharmaceutical Industries Ltd.
- Viatris Inc.
- Amylyx Pharmaceuticals Inc.
- Mitsubishi Chemical Group Corporation
- Otsuka Pharmaceutical Co. Ltd.
- Covis Pharma GmbH
- ITALFARMACO S.P.A.
- Alkem Laboratories Ltd.
The report provides a detailed analysis of these key players in the global amyotrophic lateral sclerosis treatment market. These players have adopted strategies such product approval, agreement, and product launch to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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