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Amyotrophic lateral sclerosis (ALS), also known as Lou Gehrig’s disease, is a neurodegenerative disease that progressively damages motor neurons. This results in weakness, muscle atrophy, and eventually causes paralysis and loss of voluntary movements. Currently available drugs only manage symptoms and prolong life by a few months. However, increased research funding and partnerships between pharmaceutical companies and research organizations have accelerated investments in finding disease-modifying therapies.
The global Amyotrophic Lateral Sclerosis 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 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Growing R&D investments in disease modifying therapies is one of the major trends shaping the amyotrophic lateral sclerosis treatment market. According to research organization ALS Therapy Development Institute, annual funding for ALS research has grown from $26 million in 1990 to over $100 million currently. Several biotechnology and pharmaceutical companies such as Biogen, Amylyx Pharmaceuticals, and Brainstorm Cell Therapeutics have ongoing phase 2 and phase 3 clinical trials evaluating therapies that aim to slow or stop progression of the disease. The success of these late stage trials will be crucial in transforming treatment landscape from symptom management to disease modification. Increased funding has enabled evaluation of innovative approaches like gene therapy, stem cell therapy and neurotrophic factors. If proven successful, these novel therapies have the potential to revolutionize treatment of ALS.
SWOT Analysis
Strength: The Amyotrophic Lateral Sclerosis Treatment market is witnessing high research and development activities focused on developing novel treatment options. This is expected to provide multiple treatment options to neurologists and help patients.
Weakness: Treatment options available are only capable of slowing the progression of the disease and not curing it. High costs associated with R&D of new drugs limits market potential.
Opportunity: Rising patient assistance programs and support initiatives are creating opportunities for market growth. Growing neurological disorders prevalence further creates demand for effective treatment solutions.
Threats: Presence of alternative treatment methods and stringent regulations for drug approval are major challenges for market growth. Higher treatment dropout rates also threaten sustained demand.
Key Takeaways
The global Amyotrophic Lateral Sclerosis Treatment market is expected to witness high growth. The global Amyotrophic Lateral Sclerosis Treatment Market is estimated to be valued at US$ 692.77 Mn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030.
Regional analysis North America dominates the global market and is expected to continue its dominance over the forecast period. This can be attributed to growing neurological disorders prevalence, rising healthcare expenditure, and presence of major market players in the region.
Key players operating in the Amyotrophic Lateral Sclerosis Treatment 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. Major players are focusing on new product launches and strategic collaborations to strengthen their market position.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
