Amyotrophic Lateral Sclerosis Treatment Market: Overview
Amyotrophic lateral sclerosis (ALS) is a neurodegenerative disorder. It is the most common type of motor neuron disease (MND). Amyotrophic lateral sclerosis is a group of rare neurological disorders that primarily involve nerve cells responsible for controlling voluntary muscle movement. Amyotrophic lateral sclerosis is also known as Lou Gehrig’s disease. The disease affects the action of motor neurons which results in the blockage of messages between muscle and brain fibers. Amyotrophic lateral sclerosis can occur in an individual due to mutation in gene which encodes enzyme copper-zinc superoxide dismutase (CuZnSOD) associated with defect in chromosome 9 and genetic inheritance. Amyotrophic lateral sclerosis disease is more prevalent in men. These abnormalities caused by genetic inheritance and mutations result in the release of glutamate, which damages the motor neurons controlling voluntary muscles. The common symptoms of ALS include cramps, respiratory problems, muscles weakness, spasticity, and fasciculation. According to research studies, the death rate is higher in amyotrophic lateral sclerosis patients primarily due to respiratory failures. Amyotrophic lateral sclerosis results in the inability to respire. This is due to nonfunctioning of diaphragm and chest muscles caused due to muscle weakness. An estimated 5,000 people in the U.S. are diagnosed with amyotrophic lateral sclerosis each year.
Amyotrophic Lateral Sclerosis Treatment Market: Key Trends
The global amyotrophic lateral sclerosis treatment market is projected to be driven by rise in prevalence of amyotrophic lateral sclerosis disease. According to the Centers for Disease Control and Prevention (CDC), in 2016, between 14,500 and 15,000 people in the U.S. had amyotrophic lateral sclerosis, of these about 5,000 people are diagnosed annually. Globally, about 2 to 5 people in every 100,000 are affected by amyotrophic lateral sclerosis. Additionally, factors such as inclination toward sedentary lifestyle and increase in the geriatric population create demand for targeted and symptomatic treatment options. This is expected to drive the market during the forecast period. However, high cost of the treatment, less awareness about amyotrophic lateral sclerosis disease, and limited availability of treatment options are likely to hamper market growth during the forecast period.
Amyotrophic Lateral Sclerosis Treatment Market: Segmentation
The global amyotrophic lateral sclerosis treatment market can be segmented based on drug type, distribution channel, and region. In terms of drug type, the market can be classified into riluzole, edaravone, and Nuedexta. Riluzole was first approved by the FDA in 1995 as the first systemic treatment to slow amyotrophic lateral sclerosis progression and prolong survival. It was the only treatment option in the U.S. to treat ALS for over 20 years, until edaravone became available. Potential therapies are being investigated by researchers for novel treatment options to treat amyotrophic lateral sclerosis. For instance, scientists at the National Institute of Neurological Disorders and Stroke are studying the use of glial-restricted progenitor cells (GRPs) to improve respiratory function and slow disease progression. Based on distribution channel, the global amyotrophic lateral sclerosis market can be divided into hospital pharmacies and retail pharmacies.
Amyotrophic Lateral Sclerosis Treatment Market: Regional Analysis
In terms of region, the global amyotrophic lateral sclerosis treatment market can be segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. North America is projected to dominate the global market during the forecast period due to increase in the number of patients with amyotrophic lateral sclerosis. Additionally, private and public organizations engage in strategic collaborations and partnerships to develop better outcome in amyotrophic lateral sclerosis treatment in the region. Europe is anticipated to be the second largest market for amyotrophic lateral sclerosis treatment due to well-established health care sector.
Amyotrophic Lateral Sclerosis Treatment Market: Competitive Landscape
Key players operating in the global amyotrophic lateral sclerosis treatment market are Mitsubishi Tanabe Pharma America, Sun Pharmaceutical, Ionis Pharmaceutical, Biogen, Mylan, Sanofi, Covis Pharma, Apotex, Inc., Ascend Pharmaceuticals LLC, and ITF Pharma.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.