Amyotrophic Lateral Sclerosis is a neurodegenerative disease. ALS affects the nerve cells in the brain and spinal cord that control the voluntary muscles. It is also known as the Lou Gehrig’s disease. Amyotrophic lateral sclerosis can be caused due to various factors such as genetics or environmental factors such as exposure to toxic or infectious agents, viruses, physical trauma, diet, and behavioral and occupational factors.
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Global Amyotrophic Lateral Sclerosis Market is expected to grow at a CAGR of 6% during the forecast period.
The Americas dominates the global amyotrophic lateral sclerosis market owing to the increasing aging population and increasing rate in ALS. Additionally, increasing government initiatives and awareness programs are likely to enhance the growth of the amyotrophic lateral sclerosis market in the North American region. Similarly, increasing government expenditures, along with rising need for newer and advanced technologies is expected to drive the growth of the amyotrophic lateral sclerosis market in North America. For instance, the Federation of ALS Societies across Canada invested over USD 15 million in 2015 across Canada for ALS research and development.
Europe accounts for the second largest market due to the increasing aging mass and increasing neurological disorders. Additionally, the improving government support and increasing healthcare infrastructure along with the rising demand for technologically advanced treatments are driving the growth of the amyotrophic lateral sclerosis market in Europe. For instance, Eurostat estimated that over 19.2% of the population in Europe was aged 65 and above. This rising older population is likely to drive the growth of the amyotrophic lateral sclerosis market.
Asia Pacific is the fastest growing market for amyotrophic lateral sclerosis whose growth is attributed to the rising population which in turn increases the overall patient population and population affected by genetic disorders. Additionally, the increasing healthcare expenditure and demand for new and innovative treatment options along with the rise in the standard of living are likely to drive the growth of the market. India and China are the foremost contributors to the market growth due to the growing demand for advanced treatments and rising rapid development of the healthcare infrastructure in these regions.
On the other hand, the Middle East & Africa is expected to witness a limited growth due to limited access to healthcare and lack of awareness among individuals. In the Middle East, the growth of the market is driven by the increasing introduction of new and innovative products for the diagnostic and treatment of various chronic diseases.
The global amyotrophic lateral sclerosis market is segmented on the basis of type, treatment, diagnosis, and end-user.
On the basis of type, the market is segmented into Familial ALS and Sporadic ALS.
On the basis of diagnosis, the market is segmented into laboratory tests, imaging tests, and others. Laboratory tests are further sub-segmented into blood tests, urine tests, and thyroid functioning tests. The imaging test is further sub-divided into Electromyography (EMG), X-ray, and Nerve Conduction Study (NCS).
On the basis of treatment, the market is segmented into medication, physical therapy, speech therapy, nutritional support, and breathing support. On the basis of treatment, medication is further sub-segmented into Edaravone and Riluzole.
On the basis of end-user, the market is segmented into specialty centers, hospitals, and research centers.
Some of the key players in the amyotrophic lateral sclerosis market are
Mitsubishi Tanabe Pharma,
and Biogen Inc., among others.
Table of Content: Key Points
1. Report Prologue
2. Market Introduction
3. Research Methodology
4. Market Dynamics
5. Market Factor Analysis
6. Global Amyotrophic Lateral Sclerosis Market, By Type
7. Global Amyotrophic Lateral Sclerosis Market, By Diagnosis
8. Global Amyotrophic Lateral Sclerosis Market, By Treatment
9. Global Amyotrophic Lateral Sclerosis Market, By End-User
10 Global Amyotrophic Lateral Sclerosis Market, By Region
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