global spinal muscular atrophy treatment industry

PORTLAND, OREGON, UNITED STATES, March 20, 2024 /EINPresswire.com/ -- An increase in the prevalence of spinal muscular atrophy, a rise in pipeline drugs, key strategies adopted by key players, and an increase in awareness regarding the treatment of spinal muscular atrophy drives the spinal muscular atrophy treatment market growth. "According to the report, the global spinal muscular atrophy treatment industry generated $4.3 billion in 2022, and is anticipated to generate $8.4 billion by 2032, witnessing a CAGR of 6.8% from 2023 to 2032. "

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Increase in prevalence of spinal muscular atrophy, initiatives by government organizations, and increase in the demand for SMA drugs for the treatment of spinal muscular atrophy drive the growth of the global spinal muscular atrophy treatment market. However, the high cost of the SMA drugs is hampering the spinal muscular atrophy treatment market growth. On the contrary, the increase in R&D activities are expected to offer remunerative opportunities for expansion of the spinal muscular atrophy treatment market during the forecast period. 

Rise in demand for effective treatments for spinal muscular atrophy, pharmaceutical companies are investing more in R&D activities to create new drugs and improve existing ones further support the market growth and are also the spinal muscular atrophy treatment market trends. Moreover, rise in awareness of early diagnosis and treatment for spinal muscular atrophy and increase in acceptability of spinal muscular atrophy treatment by medical practitioners contributes toward the growth of the spinal muscular atrophy treatment market forecast.

Depending on type, the spinal muscular atrophy treatment market size is classified into type 1, type 2, and others. The type 1 segment dominated largest share in 2022 and also exhibited the highest growth during the forecast period. This is attributed to surge in population with type 1 SMA led to rise the demand for SMA drugs to treat this type of disease.

Covid-19 Scenario 

COVID-19 pandemic had a negative effect on the global spinal muscular atrophy treatment market, owing to decrease in demand for spinal muscular atrophy treatment due to the reduced diagnosis and hospital visits. 

In addition, many clinical trials for SMA were temporarily delayed due to the pandemic. This interruption affected the progression of R&D activities, and potentially slowed down the availability of new treatment options & limited access to experimental therapies for SMA patients which negatively impacted the market growth. 

However, the market is recovering after the pandemic, and showing stable growth for spinal muscular atrophy treatment market, owing to rise in cases of SMA disease led to increase in adoption of SMA drugs to treat the disease. 

Spinal Muscular Atrophy Treatment Market key segments:

Therapy Type:

Gene Replacement Therapy
Medication Therapy
Physical Therapy

Age Group:

Pediatric Patients
Adult Patients

Severity of SMA:

Type 1 (Infantile-Onset)
Type 2 (Intermediate)
Type 3 (Juvenile)
Type 4 (Adult-Onset)

End User:

Hospitals
Specialty Clinics
Rehabilitation Centers
Homecare Settings

Region:

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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North America to maintain its dominance by 2032

Based on region, North America held the largest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global spinal muscular atrophy treatment market revenue, owing to robust healthcare infrastructure, availability of approved spinal muscular atrophy drugs and high healthcare expenditures. However, the Asia-Pacific region is expected to witness the fastest CAGR of 7.7% from 2023 to 2032 and is likely to dominate the market during the forecast period, owing to an increase in awareness of spinal muscular atrophy, and a rise in number of people affected with spinal muscular atrophy. 

Leading Market Players: - 

Biogen
Cytokinetics
Hanugen Theraputics
NMD Phrama A/S
Novartis AG
F. Hoffmann-La Roche Ltd.
Pfizer Inc.
Scholar Rock Holding Corporation
Beijing Jinlan Gene Technology Co., Ltd. 
Ionis Pharmaceuticals, Inc.

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