- Gene Therapy
Spinal Muscular Atrophy (SMA) Treatment Market size was valued at USD 2.22 billion in 2022 and is poised to grow at a CAGR of 28.9% from 2023-2029. Due to increase in awareness regarding the disease (SMA), increase in the research for the rare disease treatment, initiative by government and private organizations to create awareness about the disease SMA, increase in number of initiatives for the treatment procedures of rare diseases, innovation of drugs and other therapies for the treatment and complex nature of the disease are the major factors that are driving the growth of the global spinal muscular atrophy (SMA) treatment market over the forecast timeframe.
Spinal muscular atrophy management is a category of hereditary illnesses that causes muscle degradation and compromises muscle function. It usually causes weakness and might even result in death. Motor neurons in the brain and spinal cord are affected by SMA. These motor neurons transmit electric and chemical impulses to and from voluntary muscles in the body, allowing for a variety of physical tasks such as walking, crawling, swallowing, and so on. Spinal muscular atrophy (SMA) 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.
Fastest Growing Market
Increase in the approval of orphan drugs especially in spinal muscular atrophy (SMA) and growing number of R&D activities for the orphan drugs are the factors that drive the growth of market. For instance, in 2017, USFDA granted an orphan drug license for the treatment of spinal muscular atrophy that is RG7916 which is a development programme by Roche, SMA foundation, and PTC therapeutics. These approvals are expected to increase the research in the field of orphan drugs and are anticipated to propel the global spinal muscular atrophy (SMA) treatment market over the forecast years.
The spinal muscular atrophy treatment market size was valued at USD 2.22 billion in 2022
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
Avexis, Inc., Novartis AG, Cytokinetics, Inc., Voyager Therapeutics