Market Dynamics: Spinal Muscular Atrophy Management Market
Spinal muscular atrophy market is mainly driven by the increase in prevalence rates of spinal muscular atrophy. In addition, growing R&D activities for the development of new drug managements, increase in awareness and favourable reimbursement policies are expected to boost the spinal muscular atrophy management market over the forecast period. Furthermore, promising late-stage pipeline drugs and their expected commercialization are anticipated to boost the market over the forecast period. However, factors such as high cost of management and lack of awareness among key stakeholders are expected to hinder the growth of atrophy management market during the forecast period.
Market Outline: Spinal Muscular Atrophy Management Market
Spinal Muscular Atrophy (SMA) is also known as 5q spinal muscular atrophy or autosomal recessive proximal spinal muscular atrophy is a genetic disease affecting the part of nervous system which controls the muscle movement. Spinal muscular atrophy is a rare disorder of neuromuscular system characterised by the progressive muscle wasting, loss of motor neurons, and sometimes may lead to death. There are several types of spinal muscular atrophies are described based on age and accompanying clinical features appearance. The most common types are acute infantile (Type-1), chronic infantile (Type-2), chronic juvenile (Type-3) and adult onset (Type-4) forms. The genetic defects associated with SMA type 1-3 are based on chromosome 5q11.2-13.3.
Global spinal muscular atrophy management market is segmented based on type of disease, management and distribution channel
Based on type of disease
Based on management
- Gene Therapy
Based on distribution channel
- Hospital Pharmacies
- Retail Pharmacies
Spinal muscular atrophy management market is at the initial stage. Only one drug was approved for the management (as of 2016) and many of the drugs are still in clinical development. Market players are actively focusing on the drug development to enter into the market. For instance, big players such as Novartis AG is developing drug LMI070, which is in phase 2 clinical trial for management of spinal muscular atrophy type-1. Furthermore, companies are also focusing on acquisitions and mergers for expansion of their developmentl product portfolio. For instance, in January 2015, F. Hoffmann-La Roche AG acquired Trophos, a company focusing on development of novel drugs for orphan and neurodegenerative diseases. By this acquisition, Roche seeks to expand its development portfolio with olesoxime, spinal muscular atrophy drug being developed in phase-II clinical trials.
Geographically, spinal muscular atrophy management market has been segmented into Latin America, Europe, Asia- Pacific, North America, and the Middle East & Africa. North America spinal muscular atrophy market is expected to grow at significant rates owing to growing adaptation of spinal muscular atrophy management procedures, recent drug launches and increase in R&D investments for the development of the new products. Europe market is expected to grow at significant rate owing to increase in R&D for innovative treatments and growing awareness among key stakeholders.
Some of the players in spinal muscular atrophy management market are Astellas Pharma Inc. (Japan), Novartis AG (Switzerland), Avexis Inc. (U.S.), Biogen, Inc. (U.S.) , F. Hoffmann-La Roche AG (Switzerland), Abbot Laboratories (U.S.), Leadiant Biosciences, Inc. (U.S.), Novo Nordisk A/S (Denmark) to name a few.
Notable Market Developments: Spinal Muscular Atrophy Management Market
- In May 2017, Cytokinetics, Inc.’s pipeline spinal muscular atrophy drug candidate, CK-2127107 got orphan drug designation by Office of Orphan Products Development of U.S. FDA.
- In December 2016, Biogen Inc. received U.S. FDA approval for SPINRAZA (nusinersen) and European Commission (EC) granted market authorisation for the same in June 2017.
Key Features of the Report
- The report provides granular level information about The market size, regional market share and forecast from 2017-2023
- The report covers in-detail insights about The competitor’s overview, key findings and Their key strategies
- The report outlines drivers, restraints, challenges, and trends that are currently faced by The industry
- The report tracks recent innovations, key developments and startup’s details that are working in The industry
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario