Edaravone is a medication that is used to treat people suffering with ALS (Amyotrophic Lateral Sclerosis), also known as Lou Gehrig's disease. The medicine is given as an intravenous (IV) injection, typically once a day for 14 consecutive days, followed by a 14-day break, and then repeated for another 14-day treatment cycle. Edaravone works by scavenging free radicals, which are compounds produced as a result of normal cellular processes that can cause damage to cells and contribute to the progression of ALS. By removing these free radicals, edaravone may help to slow down the progression of the disease. It is important to note that edaravone is not a cure for ALS and does not reverse the damage that has already been done to the nerve cells.
Edaravone is one of the few medications that has been approved for the treatment of ALS. The growing demand for effective treatments for ALS, combined with the increasing incidence of the disease, is driving the market for edaravone injections. To meet the growing demand for edaravone, pharmaceutical companies are investing in the development of new and improved formulations of the medication.
Furthermore, clinical trial data is one of the most important factors in determining the effectiveness of a medication for a particular condition. Edaravone was first approved for use in Japan in 2015 based on the results of a phase III clinical trial, which showed that it slowed the progression of the disease. Since then, several additional clinical trials have been conducted, and the results have consistently demonstrated the positive effect of edaravone in treating ALS. In addition to slowing the progression of the disease, edaravone has also been shown to improve functional abilities, such as the ability to speak, eat, and move, in people with ALS. This improvement in functional abilities is significant, as it can greatly improve the quality of life for people with ALS. The positive results from clinical trials have increased confidence in the effectiveness of edaravone as a treatment for ALS. This, in turn, has led to increased demand for the medication, driving the market for edaravone injections. The strong clinical trial data has also encouraged pharmaceutical companies to invest in further research and development of edaravone and other treatments for ALS.
New product launches to flourish in the market Mitsubishi Tanabe Pharma Corporation launched Radicava (edaravone) in the U.S. in May 2017. Lupin Limited is an Indian multinational pharmaceutical company that specializes in the development, manufacture, and marketing of generic and branded pharmaceuticals. The launch of edaravone by Lupin Limited in India was a significant development in the growing market for this medication. By launching edaravone in India, Lupin Limited aimed to capture a share of the growing demand for this treatment, as well as expand its product portfolio and increase its market share. Edaravone has been approved for use in several countries, including Japan, South Korea, and the United States, and the launch of edaravone in India by Lupin Limited further increased its global reach. The medication offers hope to people with ALS, who currently have few effective treatment options available to them.
Segment Overview: By Distribution Channel: The edaravone injection market can be divided into three major distribution channels, hospital pharmacies, retail pharmacies, and online pharmacies. Hospital pharmacies are one of the primary distribution channels for edaravone injections, as they are used in hospitals and other healthcare facilities to treat patients with ALS. Hospitals typically purchase the medication in bulk, and the cost of the medication is often covered by insurance or government health programs. Moreover, retail pharmacies are another important distribution channel for edaravone injections, as they are used by patients for self-administration. Retail pharmacies typically stock a limited quantity of the medication, and patients can purchase the medication at the counter or order it online for home delivery. Moreover, online pharmacies are a growing distribution channel for edaravone injections, as they offer patients the convenience of ordering the medication from the comfort of their own homes. Online pharmacies typically have a wider selection of medications, including edaravone injections, and often offer lower prices than brick-and-mortar pharmacies.
By Region: The Asia Pacific edaravone injection market is expected to grow at a high CAGR driven by a number of factors. One of the major drivers of growth of the market in this region is the increasing incidence of ALS in the Asia Pacific region. As the incidence of ALS increases, there is a growing demand for effective treatments with medicines such as edaravone, which is driving growth in the Asia-Pacific edaravone injection market. Another factor contributing to the growth of the Asia-Pacific edaravone injection market is the increasing availability of the medication in the region. Pharmaceutical companies are expanding their operations in the Asia Pacific region, making edaravone more accessible to patients in the region. This is expected to increase the uptake of the medication and drive growth of the market in the Asia-Pacific region . In addition, the Asia-Pacific region is home to a large and rapidly growing aging population, and old age is a major risk factor for ALS. This aging population is expected to drive growth in the Asia-Pacific edaravone Iinjection market, as they are more likely to develop ALS and require treatment with edaravone. Moreover, the growing healthcare infrastructure in the Asia-Pacific region is also expected to contribute to the growth of the edaravone injection market. The increasing investment in the healthcare sector in the Asia-Pacific region is expected to lead to the development of better healthcare facilities and the availability of more effective medicines for the treatment of ALS, including edaravone.
Competitive analysis and profiles of the major players in the edaravone injection market, such as mitsubishi tanabe pharma America, Simcere, taj pharmaceuticals ltd., Sun Pharmaceutical Industries, Unichem Laboratories Ltd, UCB India Ltd, Piramal Healthcare, Novartis AG, Merck & Co. Inc., F. Hoffmann La Roche are provided in this report. Major players have adopted product launch and acquisition as key developmental strategies to improve the product portfolio of the edaravone injection market.
Key Market Segments
- By Distribution Channel
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- By Region
- North America
- Europe
- France
- Germany
- Italy
- Spain
- UK
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Thailand
- Malaysia
- Indonesia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Argentina
- Rest of LAMEA
Key Market Players
- Sun Pharmaceutical Industries
- F. Hoffmann La Roche
- Novartis AG
- Merck & Co. Inc.
- Simcere
- Unichem Laboratories Ltd
- taj pharmaceuticals ltd.
- mitsubishi tanabe pharma america
- Piramal Healthcare
- UCB India Ltd