Market Trends of Global Amyotrophic Lateral Sclerosis Treatment Industry
This section covers the major market trends shaping the Amyotrophic Lateral Sclerosis Treatment Market according to our research experts:
Medications Are Expected To Witness Healthy Growth Over the Forecast Period
Medications in amyotrophic lateral sclerosis treatment are estimated to witness healthy growth as they help relieve symptoms, panic attacks, pain, and depression. Medications such as riluzole and edaravone are the only two drugs that are approved by the Food and Drug Administration (FDA) to treat amyotrophic lateral sclerosis.
According to the research article titled "Global variation in prevalence and incidence of amyotrophic lateral sclerosis: a systematic review and meta-analysis" published in the Journal of Neurology in April 2020, the overall crude worldwide ALS prevalence and incidence were 4.42 per 1,00,000 population and 1.59 per 1,00,000 person-years, respectively. ALS prevalence and incidence increased by age until the age of 70-79. Hence, the rising prevalence of ALS diseases worldwide will likely trigger the demand for these drugs for treatment and thereby drive segment growth.
Furthermore, the engagement of various companies in clinical trials and new drug development associated with amyotrophic lateral sclerosis treatment will boost the growth of the market segment. For instance, in April 2020, GENUV, Inc. began the Phase 1 and 2 clinical trials to evaluate the safety, tolerability, and efficacy of trametinib (SNR1611) in the treatment of amyotrophic lateral sclerosis and was expected to be completed by March 2022.
Therefore, there is a growth in the medication segment of the studied market over the forecast period.
North America is Expected is Expected to Dominate Amyotrophic Lateral Sclerosis Market Over the Forecast Period
North America is expected to dominate the market owing to factors such as the rising incidence of rare neurological diseases, growing geriatric population, the strong presence of industry players in the region, better healthcare infrastructure, awareness among people and healthcare industry stakeholders about available technologies, and the high concentration of market players in the United States.
The article titled "Estimated Prevalence and Incidence of Amyotrophic Lateral Sclerosis and SOD1 and C9orf72 Genetic Variants" published in Neuroepidemiology journal in July 2021 stated that combined prevalence rates (per 100,000 people) and incidence rates (per 100,000 person-years) were 5.20 and 2.35 for North America. The increase in the geriatric population in the region followed by a surge in prevalence and incidence of the disease is expected to increase the demand for the treatment and thus boost the market growth in the region.
Various measures adopted by the government or healthcare organizations to spread awareness about the disease and increase research and drug development. For instance, in June 2022, the United States Food and Drug Administration (FDA) launched an action plan for Rare Neurodegenerative Diseases including Amyotrophic Lateral Sclerosis (ALS). This action plan is the five-year strategy being implemented by the United States FDA for improving and extending the lives of people living with rare neurodegenerative diseases across the country. The major focus of this plan is on advancing the development of safe and effective medical products and providing complete access to novel treatments to all patients. Such initiatives are likely to augment the market growth in the region.
Therefore, owing to the above-mentioned factors, the growth of the studied market is anticipated in the North America Region.
