Amyotrophic Lateral Sclerosis Treatment is Estimated to Witness High Growth Owing to Increased Research and Development Efforts
Amyotrophic lateral sclerosis (ALS) commonly known as Lou Gehrig’s disease, is a progressive nervous system disease that attacks nerve cells and pathways in the spinal cord and brain. Symptoms may include weakness, muscle atrophy, difficulty speaking and swallowing among others. Current treatment options are limited and aim to manage symptoms and improve quality of life. Growing research into new therapies has led to potential disease-modifying drugs in the pipeline.
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 Opportunity:
Increased research and development efforts are boosting investment in drug development for ALS treatment. A promising area lies in gene therapies targeting genetic mutations associated with familial ALS cases. Researchers are also developing therapies targeting specific pathways and mechanisms involved in motor neuron degeneration. Recent clinical trial successes have increased confidence in modification of disease progression. Continued investment in novel drug candidates holds potential to transform treatment landscape in coming years. Better understanding of pathogenesis through ongoing research will facilitate designing of effective therapeutic interventions for ALS.
Porter’s Analysis
Threat of new entrants: The biopharmaceutical industry requires massive capital investments and regulatory approvals for R&D and clinical trials, creating high barriers to entry.
Bargaining power of buyers: The bargaining power of buyers is moderate as there are only a few approved treatment options available for ALS patients currently.
Bargaining power of suppliers: The suppliers of raw materials and inputs have moderate bargaining power due to the specialized nature of production in the biopharma industry.
Threat of new substitutes: The threat of substitutes is low since ALS has limited treatment options currently and potential substitutes would need to undergo rigorous clinical testing.
Competitive rivalry: The competitive rivalry is high given the life-threatening nature of ALS and the large market potential, leading companies to intensely compete through investments in innovative R&D and clinical trials.
SWOT Analysis
Strengths: Access to large patient pools for clinical trials. Growing public awareness and support for ALS research.
Weaknesses: High attrition rates and costs associated with drug development. Limited understanding of disease pathogenesis hinders discovery.
Opportunities: Robust drug pipeline with several promising candidates in clinical stages. Scope for combinational therapies and biomarkers to accelerate development.
Threats: Stringent regulatory environment. Risk of trial failure or setbacks. Competition from existing and emerging treatment options.
Key Takeaways
The global Amyotrophic Lateral Sclerosis treatment market is expected to witness high growth over the forecast period driven by a robust pipeline of innovative drug candidates and expanding research into disease mechanisms. 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 2023-2030.
The US dominates the market currently due to presence of leading biopharma companies and high patient awareness. However, growth rates are expected to be faster in Asian markets like China and India due to improving healthcare infrastructure and patient affordability. North America currently leads the global ALS treatment market supported by well-established healthcare systems and presence of top pharmaceutical companies. The European region is the second largest market backed by increasing government funding for orphan drug development. However, Asia Pacific is poised to exhibit the fastest growth over the next few years attributed to growing healthcare spending, patient volumes, and strengthening research base in countries like China, Japan, and South Korea.
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, Ionis Pharmaceuticals, Genervon Biopharmaceuticals, LLC, Biogen, Orphazyme A/S, Apotex Inc, Neuralstem, Inc., F. Hoffmann-La Roche Ltd, AB Science, ADVANZ PHARMA.
