Global Edaravone Market is segmented By Product Type (Injection, Oral), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031
Edaravone Market Size
Global Edaravone Market size was valued US$ XX billion in 2022 and is estimated to reach US$ XX billion by 2031, growing at a CAGR of XX % during the forecast period (2024-2031).
Edaravone is used to treat a nerve disease named amyotrophic lateral sclerosis (ALS). It helps to slow down the worsening of this disease. This medication is given by injection into a vein.
Market Summary
| Metrics | Details |
| Market CAGR | High |
| Segments Covered | By Service, By Offering, By Application, By End User, and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
| Fastest Growing Region | Asia Pacific |
| Largest Market Share | North America |
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Market Dynamics
The edaravone market growth is driven by the demand increased significantly because FDA has approved it for the treatment of ALS. Technological advancements in edaravone will boost market growth. Companies have invested in R&D to develop new, more effective products, and the high ALS incidence also boosts the market growth. Moreover, increasing demand for cost-efficient products in developing regions and ongoing clinical trials of several products.
Increasing incidence amyotrophic lateral sclerosis (ALS), is expected to drive the growth in the forecast period
According to a study published in the Centers for Disease Control and Prevention, in 2016, around 14,713 people were diagnosed with ALS in the U.S., and the prevalence rate of ALS was 4.7 cases per 100,000 people in 2012. According to the same study, the prevalence rate increased to 5.0 cases per 100,000 people, and around 15,908 people were diagnosed with ALS in 2013. According to the National Organization for Rare Disorders (NORD), Amyotrophic Lateral Sclerosis (ALS) affects approximately 30,000 people in the United States. Approximately 5,000 new cases are diagnosed each year in the United States. In 2015, a total of 16,583 persons were diagnosed with ALS. The estimated prevalence of ALS in 2015 was 5.2 per 100,000 population. Hence, the rising incidence of ALS leads to an increase in demand for Edaravone.
Side effects associated with edaravone is likely to hamper the market growth
Side effects associated with edaravone include irregular, fast or slow, or shallow breathing, skin rash, encrusted, scaly and oozing, unusual bruising, Blistering, crusting, irritation, itching, or reddening of the skin, blue lips, fingernails, or skin, chest pain or tightness, change in walking and balance, clumsiness or unsteadiness may restrict the market growth.
COVID-19 Impact Analysis
The coronavirus (COVID-19) pandemic and resulting lockdown in various countries across the globe have impacted major companies' financial status in the urea cycle disorders treatment market. The private healthcare sector is one of the sectors, which the COVID-19 pandemic has majorly impacted. The pandemic has negatively impacted the global edaravone market in various aspects such as research and development, production, and supply of medicines. The pandemic has also affected the growth of pharmaceutical businesses of various companies across the globe due to lockdowns implemented by governments of several countries.
Market Segment Analysis
The injection segment is expected to hold largest share in this market segment
Edaravone injection is used to treat amyotrophic lateral sclerosis. Edaravone injection is in a class of medications called antioxidants. As it is administered intravenously, the drug is delivered immediately upon completing a response requirement, and since delivery is into a vein, there is a rapid onset of drug effects. Such immediacy results in rapid acquisition and strong maintenance of behavior anticipated increasing the segment growth in the market.
The hospital pharmacies segment is expected to hold largest share in this market segment
The hospital pharmacies held the largest share in the edaravone market. This is mainly owing to increasing number of patients suffering from conditions which are treated in hospitals equipped with advanced infrastructure and adequate facilities. Moreover, growing number of hospitals along with adequate reimbursement policies is also contributing to the growth of this segment.
Market Geographical Share
North America region holds the largest market share of global edaravone market
North America accounts for the largest market share due to the factors such as the increasing prevalence of neurological diseases and higher treatment awareness, rising funding by the government agencies and private organizations in the healthcare system. For instance, according to the ALS Association, approximately 5,000 people in the U.S. are diagnosed with ALS each year, averaging 15 new cases each day. It is estimated that up to 20,000 Americans have the disease at any given time. Edaravone set foot in the U.S. market in 2017 after the endorsement of the FDA for its utilization in ALS treatment.
Companies and Competitive Landscape
The global edaravone market is moderately competitive with presence of global companies. Some of the key players which are contributing to the growth of the market include Sun Pharmaceutical Industries Ltd, Unichem Laboratories Ltd, UCB India Ltd, Piramal Healthcare, Mitsubishi Tanabe Pharma, Simcere, Taj Pharmaceuticals Ltd, ABIOMED., Berlin Heart, BiVACOR Inc. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the market globally.
Key Companies to Watch
Sun Pharmaceutical Industries Ltd
Overview: Sun Pharmaceutical Industries Limited is an Indian multinational pharmaceutical company headquartered in Mumbai, Maharashtra, that manufactures and sells pharmaceutical formulations and active pharmaceutical ingredients primarily in India and the United States. It is largest Pharma Company in India and 4th largest in the world.
Product Portfolio: The Company’s portfolio comprised of include various therapeutic areas, such as cardiology, psychiatry, neurology, gastroenterology and diabetology.
Why Purchase the Report?
- Visualize the composition of the edaravone market segmentation by product type, distribution channel and region highlighting the key commercial assets and players.
- Identify commercial opportunities in edaravone market by analyzing trends and co-development deals.
- Excel data sheet with thousands of data points of edaravone market - level 4/5 segmentation.
- PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
- Product mapping in excel for the key product of all major market players
The global edaravone market report would provide an access to an approx. 61 market data table, 57 figures and 200 pages.
Target Audience
- Service Providers/ Buyers
- Industry Investors/Investment Bankers
- Education & Research Institutes
- Research Professionals
- Emerging Companies
- Manufacturers
