22 June 2020
Visiongain has launched a new report Amyotrophic Lateral Sclerosis (ALS) Market Report 2020-2030: Forecasts by Treatment (Medication, Stem Cell Therapy, Others), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Others), and Geography PLUS Profiles of Leading Companies.
The global Amyotrophic Lateral Sclerosis (ALS) market is anticipated to grow at a lucrative CAGR of more than xyz% and anticipated to cross USD xyz million by 2030. The factors driving this demand are raising geriatric population, growing knowledge of ALS and increasing incidence rate. However, during the projected era, the high cost associated with ALS treatment may pose an impediment for the industry.
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In terms of region, North America currently holds the largest share of over 50% in ALS market owing to the presence of significant number of patients within the region. Availability of medicines as well as other therapies within the region for disease management is the major reasons for high market share. The factors driving the industry are rise in healthcare spending, attractive reimbursement programs, massive demand for ALS medications and the existing healthcare infrastructure. In 2018, prevalence of ALS in the United States is 5 was 100,000, according to data released in the Centers for Disease Control and Prevention (CDC) Morbidity and Mortality Weekly Study.
Over the projected era, Asia Pacific is predicted to experience the highest growth rate among all regions. In this area, particularly in India and China, the industry is witnessing a growing revenue generation from Riluzole generic manufacturers. Several of the main drivers of demand growth in this area include increasing R&D spending in the healthcare industry, and rise in number of producers and government’s initiatives.
Key vendors in the market include Mitsubishi Tanabe Pharma Corporation, Biohaven Pharmaceutical, AB Science, F.Hoffmann-La Roche AG, and Sun Pharmaceutical. Stem cell therapy providers are also actively performing trials to name a few, BrainStorm Cell Therapeutics, Seneca Biopharma, CORESTEM and many more. However, the Rilutek patent, which was introduced in 1995, expired in 2013, contributing to the development of cheap generic copies of the medication. Companies are pursuing different approaches to achieve a competitive edge, such as innovative product growth, penetration into developing counties and strategic alliances.
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