What is Global Amyotrophic Lateral Sclerosis Therapeutics Market?
The Global Amyotrophic Lateral Sclerosis (ALS) Therapeutics Market is a specialized sector within the pharmaceutical industry that focuses on the development and distribution of treatments for ALS, a progressive neurodegenerative disease that affects nerve cells in the brain and spinal cord. This market is of significant importance due to the severity of ALS, which currently has no known cure and limited treatment options. The market's value was estimated at US$ 311.7 million in 2022, indicating a substantial investment in research and development of ALS therapeutics. The expectation is that the market will continue to grow, reaching an estimated value of US$ 380.6 million by 2029. This represents a Compound Annual Growth Rate (CAGR) of 3.4% from 2023 to 2029.
Riluzole, Edaravone (Radicava), Other in the Global Amyotrophic Lateral Sclerosis Therapeutics Market:
Within the Global ALS Therapeutics Market, there are several key products that are currently available. These include Riluzole, Edaravone (Radicava), and others. Riluzole is a drug that has been in use for several years and works by decreasing the release of glutamate, a chemical that nerves use to send signals to other nerves. Edaravone (Radicava) is a newer drug that was approved by the FDA in 2017. It is believed to work by relieving the effects of oxidative stress, which is thought to be a factor in the death of nerve cells in people with ALS. Other treatments are also being developed and researched, including stem cell therapies and gene therapies. However, it's important to note that while these treatments can help manage symptoms and slow disease progression, they are not cures for ALS.
Hospital, Drugs Store, Other in the Global Amyotrophic Lateral Sclerosis Therapeutics Market:
The Global ALS Therapeutics Market serves various areas including hospitals, drug stores, and others. Hospitals are a primary user of ALS therapeutics, as they provide care for patients in advanced stages of the disease and those who require intensive symptom management. Drug stores also play a crucial role in the distribution of ALS therapeutics, particularly for patients managing their condition at home. Other areas where these therapeutics are used include research institutions and specialized ALS clinics. These institutions often participate in clinical trials for new treatments, contributing to the ongoing development and improvement of ALS therapeutics.
Global Amyotrophic Lateral Sclerosis Therapeutics Market Outlook:
To rephrase the market outlook, the Global ALS Therapeutics Market, which was valued at US$ 311.7 million in 2022, is projected to grow to US$ 380.6 million by 2029. This suggests a steady growth rate of 3.4% from 2023 to 2029. The product Edaravone (Radicava) holds a significant share in the market, accounting for over 75% of the total. This dominance can be attributed to its effectiveness in managing ALS symptoms and slowing disease progression.
| Report Metric | Details |
| Report Name | Amyotrophic Lateral Sclerosis Therapeutics Market |
| Accounted market size in 2022 | US$ 300 million |
| Forecasted market size in 2029 | US$ 396.8 million |
| CAGR | 3.4% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| By Region |
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| By Company | Mitsubishi Tanabe Pharma, Sanofi, Mylan Pharma, Apotex, Glemark Generics, Covis Pharma, Sun Pharma, Lunan Pharma |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
