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Amyotrophic lateral sclerosis (ALS), commonly known as Lou Gehrig’s disease, is a progressive neurodegenerative disease that affects nerve cells in the brain and spinal cord. Products in the ALS treatment market mainly focus on modulating glutamate and other neurotransmitters, protecting motor neurons from cell death, reducing oxidative stress, and cell replacement therapy. Riluzole is one of the most commonly prescribed drugs for ALS that modestly extends survival by prolonging the time until breathing muscles weaken. Stem cell therapy is a promising avenue and several clinical trials are underway to evaluate their safety and efficacy in treating ALS.
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:
The growing R&D activities in the field of ALS treatment is one of the major trends witnessed in the market. Several pharmaceutical and biotech companies are collaborating with research institutes and patient advocacy groups to accelerate ALS drug development. For instance, in 2022, Cytokinetics, Inc. announced positive results from REDWOOD-HCM, a Phase 2 clinical trial evaluating omecamtiv mecarbil in obstructive hypertrophic cardiomyopathy. Such positive clinical trial results are encouraging pharmaceutical companies to invest further in ALS treatment research. Acquisitions and partnerships between companies have also increased to gain access to new drug candidates and pool resources for advancing pipeline molecules. This is anticipated to drive the amyotrophic lateral sclerosis treatment market during the forecast period.
Porter’s Analysis
Threat of new entrants: The amyotrophic lateral sclerosis treatment market has moderate threat of new entrants due to high capital requirements and stringent regulations for approval of new drugs.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of limited treatment options for ALS.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power as there are many pharmaceutical companies that can supply drugs for ALS treatment.
Threat of new substitutes: There is low threat of new substitutes as there are limited treatment options available for ALS currently.
Competitive rivalry: The competitive rivalry in the market is high due to presence of many pharmaceutical companies.
Key Takeaways
The global Amyotrophic Lateral Sclerosis Treatment market is expected to witness high growth over the forecast period. 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.
Regionally, North America is anticipated to dominate the global market owing to presence of major market players and higher awareness levels in countries like the US. Factors such as high per capita healthcare expenditure, rapidly growing geriatric population, and early availability of advanced diagnostic technologies drive the growth of the ALS treatment market in North America.
Key players: The key players operating in the amyotrophic lateral sclerosis 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.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
