Insights on the Amyotrophic Lateral Sclerosis Treatment Global Market to 2029 - Rising Awareness and Incidence of ALS is Driving Growth - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--The "Amyotrophic Lateral Sclerosis Treatment Market Analysis by Treatment (Stem Cell Transplant, Medication), by Distribution Channel (Hospitals, Retail Pharmacies) and by Region - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global Amyotrophic Lateral Sclerosis (ALS) treatment market size is estimated to be USD 725.58 million in 2021 and is expected to witness a CAGR of 6.97% during the forecast period.
Increasing geriatric population worldwide, rising awareness for ALS, and increase in incidence of ALS are some of the key factors expected to boost growth of the global market. Conversely, the high cost related with ALS treatment is expected to hinder the growth during the forecast period.
Based on treatment, the amyotrophic lateral sclerosis treatment market is segmented into stem cell therapies, medications, and others. In 2021, the medications segment was the highest revenue-grossing segment owing to approval of two major drugs including Rilutek (riluzole) and Radicava (edaravone) by the U.S. FDA. However, the stem cell therapies segment is expected to grow at a fastest CAGR during the forecast period. This can be attributed to the rising demand for advanced treatment alternatives and new approaches for the management of ALS.
By Distribution Channel
Based on distribution channel, the market is categorized into hospitals, retail pharmacies, and others. Hospitals segment was the highest revenue-generating segment in 2021 and is estimated to hold its position during the forecast period. This is attributed to requirement to visit the hospital frequently and even stay for a higher duration during treatment. The retail pharmacies segment is expected to grow at a lucrative CAGR during the forecast period.
In 2021, North America was the highest revenue-generating region in the global market and is expected to maintain its dominance during the forecast period. This is attributed to the presence of a well-developed healthcare expenditure, favorable reimbursement policies, growing healthcare expenditure, and increasing demand for advanced therapies.
The Asia Pacific is expected to grow at the fastest CAGR over the forecast period owing to the rising prevalence of ALS, increasing R&D investment, presence of a developing healthcare infrastructure, and unmet medical needs in this region.
Some of the key players in the amyotrophic lateral sclerosis treatment market are Otsuka Pharmaceutical Co., Ltd. (Japan); Biogen (U.S.); BrainStorm Therapeutics (U.S.); Mitsubishi Tanabe Pharma Corporation (Japan); AB Science (France); Corestem (South Korea); Biohaven Pharmaceutical (U.S.); F.Hoffmann-La Roche AG (Switzerland); Ionis Pharmaceuticals, Inc. (U.S.); and Sun Pharmaceutical (India). Leading companies pursue different strategies such as business expansion in developing markets, new product growth, and strategic alliances to achieve a competitive edge.
This exhaustive research report focuses on market size and forecast at global, segmental, regional and country level along with key market trends and dynamics from 2021 to 2029.
For more information about this report visit https://www.researchandmarkets.com/r/5y8uh4
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