The latest market report published by Credence Research, Inc. “Spinal Muscular Atrophy Treatment Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027” the spinal muscular atrophy treatment market was valued at US$ 1,428.6 Mn in 2018, expected to grow at a CAGR of 14.5% during the forecast period from 2019 to 2027.
The global spinal muscular atrophy treatment market is increasing efficiently from 2019 to 2027 accredited to increase in hospital admissions for SMA along with FDA approval for new therapy and drugs. SMA occurs during childhood, it is a group of inherited diseases leads to muscle weakness and may even lead to death. SMA affects the functioning of the brain and spinal cord resulting in poor physical activities. The treatment of spinal muscular atrophy encompasses gene therapies or surgery, additionally; drugs are also administered for overall management of the disease. For e.g. in May 2019, AveXis received the U.S. FDA approval for Zolgensma® to treat spinal muscular atrophy for pediatric patients less than 2 years of age.
Top pharmaceutical corporations are focusing on new drug development and FDA clearance on a global scale, mainly in the U.S., Japan, and Europe. Top pipeline products such as Risdipalm, Reldesemtiv, Branapalm, and others will gain traction in the near future. The increasing number of partnerships with research institutes and definitive agreements with pharmaceutical companies in the U.S market will enhance the growth internationally. North America market primarily accredited to rising incidences of genetic disorders, spinal related or muscle weakness among the pediatrics community, increased cost for gene therapy treatment and the presence of major key players in the U.S. market. Key factors driving the overall market growth are developing medical infrastructure & treatment accessibility, rising prevalence of genetic disorders, increasing awareness related to early diagnosis & treatment, strong pipeline products and FDA approval for new gene therapies and drugs on a global scale. However, high cost of treatment, less awareness, and no or very less product expansion in the developed regions will restrict the market growth during the forecast period.
Key Market Movements:
- Globally, the spinal muscular atrophy treatment is growing at a CAGR of 14.5% for the period from 2019 to 2027
- Factors that contribute to market growth are rising incidences of SMA in infants, innovation in gene therapy techniques, and strong product pipeline
- Rising public health awareness along with recent FDA approval for SMA treatment will drive the market growth the emerging nations
- Increased funding by private organizations for better treatment management along with improved technology expansion in the developed nations
- Major players in this vertical are Biogen Idec., Pfizer Inc., Boehringer Ingelheim, Isis Pharmaceuticals, F. Hoffmann-La Roche, Regeneron Pharmaceuticals, AveXis Inc., Novartis AG and others
Browse full report at https://www.credenceresearch.com/report/spinal-muscular-atrophy-treatment-market
The Global Spinal Muscular Atrophy Treatment Market is Segmented into:
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*Complete segmentation list is on report page
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