(PharmaNewsWire.Com, October 20, 2022 ) According to Precision Business Insights (PBI) latest report, the global spinal muscular atrophy treatment market is estimated to be valued at USD 2.22 billion in 2021, growing at a CAGR of 28.9% during the forecast period 2022-28. A hereditary condition known as spinal muscular atrophy causes the muscles used for movement to become weaker. It is brought on by the degeneration of motor neurons, specialized nerve cells that regulate muscle action. The muscles proximally (near the body's center) weaken more than the muscles distally (far from the body's center) (distal).
The Spinal Muscular Atrophy Treatment Market Growth Factors
One of the key factors propelling the growth of the spinal muscular atrophy (SMA) therapy market is the rise in the number of people with SMA around the world. The rise in attempts to enhance the alternatives for treating rare diseases and the surge in demand for pharmaceuticals like Nusinersen, Onasemnogene Abeparvovec, and others that are used in their treatment is driving the market's expansion. The increase in R&D projects aimed at better treatments and campaigns launched by a variety of charitable and public groups to raise awareness of SMA also have an impact on the market. On the other hand, it is anticipated that the high cost of diagnosis and treatment will restrain market expansion. The market for treating spinal muscular atrophy (SMA) is anticipated to face difficulties throughout the forecast period due to a shortage of professional expertise.
The global Spinal Muscular Atrophy (SMA) Treatment Market on the basis of Treatment, the market is bifurcated into Gene and Therapy. Based on the Route of Administration, the market is segregated into Oral, Intrathecal. On the basis of Disease Type, the market is categorized into Type 1, Type 2, Type 3, and Type 4.
The Spinal Muscular Atrophy Treatment Market Trends
• The market for treating spinal muscular atrophy (SMA) is positively impacted by the rise in healthcare spending, advancements in technology, growth in investments, growth in awareness, as well as various medication designations for innovative pharmaceuticals.
• Drug advancements provide market participants with lucrative opportunities during the predicted period.
The Spinal Muscular Atrophy Treatment Market Regional Analysis
2017 witnessed North America lead the market. The U.S. market's highest revenue production was the cause of this growth. since the nation's approval of Spinraza in December 2016. The existence of Biogen Inc. in the United States, high disposable income, and the increase in the uptake of Spinraza are a few more variables that helped to contribute to the greatest revenue share.
The major players operating in the Spinal Muscular Atrophy Treatment Market are Biogen, Ionis Pharmaceuticals, Inc., Hoffmann – La Roche Ltd, Avexis, Inc., Novartis AG, Cytokinetics, Inc., Voyager Therapeutics
Duchenne Muscular Dystrophy (DMD) Treatment Market by drug class(Corticosteroids, Pain management drugs) by distribution channel(Hospital Pharmacies, Retail Pharmacies, Online Pharmacies) and Geography
Spinal Muscular Atrophy Management Market: By Type of Disease (Type-I, Type-II, Type-III, Type-IV), By Management (Gene Therapy, Drugs), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Others) and Geography
We are a market research company that strives to provide the highest quality market research insights. Our diverse market research experts are enthusiastic about market research and therefore produce high-quality research reports. We have over 500 clients with whom we have a good business partnership and capacity to provide in-depth research analysis for more than 30 countries. In addition to deliver more than 150 custom solutions, we already have accounts with the top five medical device manufacturers. Precision Business Insights offers a variety of cost-effective and customized research services to meet research requirements. We are a leading research service provider because of our extensive database built by our experts and the services we provide.
Precision Business Insights | Toll Free: +1 866 598 1553
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Biotechnology & Pharmaceuticals resource center today to browse our selection of 600+ complimentary Biotechnology & Pharmaceuticals magazines, white papers, webinars, podcasts, and more. Get popular titles including: