Amyotrophic Lateral Sclerosis (ALS) Market to grow with a CAGR of 5.79%
Increasing
healthcare infrastructure and a supportive regulatory environment are the major
drivers for the Global Amyotrophic Lateral Sclerosis (ALS) Market
According
to TechSci Research report, “Global Amyotrophic Lateral Sclerosis (ALS)
Market Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2018-2028”, Global Amyotrophic Lateral
Sclerosis (ALS) Market has valued at USD 663.15 million in 2022 and is anticipated
to witness an impressive growth in the forecast period with a CAGR of 5.79%
through 2028. This can be due to
collaborations and partnerships among leading companies with a diverse approach
to merge the expertise of individual companies and to strengthen their position
in the market.
Fast-tracking
and regulatory incentives can serve as drivers in the Global Amyotrophic
Lateral Sclerosis (ALS) Market. ALS therapies that receive priority review
status from regulatory authorities benefit from shorter review timelines. This
can encourage pharmaceutical companies to develop treatments for ALS, as they
can potentially bring their therapies to market more quickly and efficiently. ALS
is classified as an orphan disease in many regions, including the United States
and the European Union. This designation provides incentives to companies
developing treatments for rare diseases, including reduced regulatory fees, tax
credits, and extended market exclusivity. These incentives can make ALS drug
development more economically viable. Regulatory incentives can attract
research funding from both public and private sources. Knowing that a potential
ALS therapy may receive regulatory support and expedited review can encourage
investors and grant agencies to fund ALS research and development projects. By
expediting the approval process and offering incentives, regulatory agencies
foster an environment conducive to innovation in ALS research. This can lead to
the development of novel therapies and treatment approaches. Fast-tracking and
regulatory incentives can accelerate the availability of new ALS treatments to
patients who desperately need them. This benefits ALS patients by providing
access to potentially life-changing therapies sooner.
Amyotrophic lateral sclerosis (ALS), often
referred to as Lou Gehrig's disease, is a progressive neurological disorder
that leads to the deterioration of nerve cells responsible for controlling
voluntary muscle movements. The hallmark features of this condition commonly
include muscle twitching, stiffness, and a decline in arm and hand strength due
to muscle atrophy.
In April 2023, Biogen Inc. has received approval from
the U.S. Food and Drug Administration (FDA) for QALSODY, a 100 mg/15mL
injection, as a treatment for amyotrophic lateral sclerosis (ALS) in adults
with a mutation in the superoxide dismutase 1 (SOD1) gene. This approval is
granted under accelerated approval, based on the observed reduction in plasma
neurofilament light chain (NfL) levels in patients treated with QALSODY. The
continued approval for this indication will depend on the confirmation of clinical
benefits in subsequent trial(s). The ongoing Phase 3 ATLAS study for tofersen
in individuals with presymptomatic SOD1-ALS will serve as the confirmatory
trial. Neurofilament proteins, released from damaged neurons, serve as a marker
for neurodegeneration.
The
limited patient population in the Global Amyotrophic Lateral Sclerosis (ALS)
Market is indeed a significant challenge.
ALS is classified as a rare disease, also known as an orphan disease. Rare
diseases typically have a small patient population, which can make it
economically challenging for pharmaceutical companies to invest in research and
drug development for such conditions. The small number of individuals affected
by ALS results in a limited market size for ALS-related treatments and
therapies. This can discourage pharmaceutical companies from allocating
resources to ALS drug development, as the potential return on investment may be
lower than for more prevalent diseases. Developing treatments for rare diseases
like ALS can be cost-prohibitive. Clinical trials, regulatory approvals, and
post-marketing surveillance are all resource-intensive processes. The limited
patient population can make it difficult to recruit enough participants for
clinical trials, further increasing development costs. Due to the limited
patient population, pricing ALS treatments can be challenging. Pharmaceutical
companies need to balance the costs of research, development, and manufacturing
with the need to provide affordable access to patients. Striking this balance
can be difficult in a small market.
Browse
over XX market data Figures and spread through XX Pages and an in-depth TOC on
"Amyotrophic Lateral Sclerosis (ALS) Market”
Global Amyotrophic Lateral Sclerosis (ALS) Market
is segmented based on Drug Type, Treatment Type, End User, and by region
Based on the Drug Type, Global Amyotrophic Lateral
Sclerosis (ALS) Market is segmented into Rilutek (Riluzole), Edaravone
(Radicava).
Edaravone, sold under the brand name Radicava, is a medication used in the
treatment of Amyotrophic Lateral Sclerosis (ALS). It is one of the few drugs
approved specifically for the treatment of ALS. Edaravone is used for the
treatment of ALS in adult patients. ALS is a progressive neurodegenerative
disease characterized by the degeneration of motor neurons in the brain and
spinal cord, leading to muscle weakness, atrophy, and eventual loss of motor
function. There is currently no cure for ALS, and treatment aims to slow down
disease progression and improve patients' quality of life. Edaravone is
administered intravenously (IV) in a medical setting. Typically, it is
administered as a daily infusion over a period of 10 to 14 days, followed by a
14-day drug-free period. This treatment cycle is repeated, and the frequency
and duration of treatment are determined by the healthcare provider based on
the patient's condition and response to therapy.
Based on Region, North America held the largest share in the Global Amyotrophic Lateral Sclerosis
(ALS) Market. ALS advocacy groups in North America have been effective
in raising awareness about the disease, fundraising for research, and advocating
for improved patient care. These efforts have mobilized resources and support
for ALS research and treatment in the region. The regulatory environment in
North America, particularly in the United States, is conducive to the
development and approval of new drugs and therapies. The U.S. Food and Drug
Administration (FDA) has processes for fast-tracking potential ALS treatments,
which can accelerate their availability to patients. North America is home to
several pharmaceutical and biotechnology companies with a focus on neurological
disorders, including ALS. These companies have the expertise and resources to
develop and commercialize ALS treatments. Despite challenges related to
healthcare access and affordability, North America generally has good access to
healthcare services, making it possible for ALS patients to receive medical
care and treatments.
Some
of the major companies operating in the Global
Amyotrophic Lateral Sclerosis (ALS) Market include:
- Sanofi
S.A.
- Brainstorm
Cell Therapeutics Inc.
- Biogen
Inc.
- Bausch
Health Cos Inc.
- F
Hoffmann-la Roche Ltd
- Ionis
Pharmaceuticals
- Mylan
Pharma Inc.
- Sun
Pharmaceutical Industries Inc
- Orion
Pharma A/S
- AB
Science SA
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“Certain areas, particularly in North
America, are projected to exert significant demand for the treatment of
Amyotrophic Lateral Sclerosis (ALS). The growth in the competitive landscape
and the presence of well-established companies in the market, committed to
enhance the overall wellbeing of people each year, are expected to contribute
to a remarkable growth of the Global Amyotrophic Lateral Sclerosis (ALS) Market
in the forecast period," said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based Global management consulting firm.
Amyotrophic Lateral Sclerosis (ALS) Market by Drug Type (Rilutek (Riluzole), Edaravone (Radicava)),
By Treatment Type (Physical Therapy, Speech Therapy, Medication, Respiratory
Therapy, Others), By End-Users (Hospitals & Clinics, Research and Academic
institutes, others), By Region, By Competition Forecast &
Opportunities, 2018-2028F has
evaluated the future growth potential of Global Amyotrophic Lateral
Sclerosis (ALS) Market and provides statistics & information on market
size, structure, and future market growth. The report intends to provide innovative
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Global Amyotrophic Lateral
Sclerosis (ALS) Market.
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