Global Spinal Muscular Atrophy Treatment Market Report and Forecast 2024-2032

Global Spinal Muscular Atrophy Treatment Market Outlook

The global spinal muscular atrophy treatment market size was valued at USD 5.67 billion in 2023, driven by the high prevalence of the disorder, spreading awareness, and technological advancements in diagnostics and treatment. The market size is anticipated to grow at a CAGR of 23.2% during the forecast period of 2024-2032 to achieve a value of USD 37.06 billion by 2032.

Key Trends in the Market

Spinal muscular atrophy is an genetic disorder which weakens skeletal muscles, resulting in them wasting away. It is caused by gene defects that result in loss of motor neurons involved in controlling muscle movement. No cure has yet been developed for spinal muscular atrophy, but treatments include managing the symptoms and prevention of further complications.

• New product launches in the spinal muscular atrophy treatment market in spite of rare cases of the disorder and high cost of the approved drugs is subjected to fuel the growth of the market.

• Owing to the severity of the disorder, adoption of expensive drugs developed specifically to treat spinal muscular atrophy has increased which is also contributing to the growth of the market. Research and development have increased by the companies to develop a cure to the spinal muscular atrophy disorder.

• Fuelled by the internet, increased awareness, and prenatal testing, the knowledge of spinal muscular atrophy is rising, encouraging more potential patients to seek out diagnosis and treatment.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Market Analysis

Based on disease type, the market can be divided into Type 1 SMA, Type 2 SMA, Type 3 SMA, and Type 4 SMA. By treatment, the market is bifurcated into gene replacement therapy and drug therapy. On the basis of route of administration, the market is segmented into oral and intrathecal. Based on end use, the market is categorised into hospitals, homecare, and specialty clinics, among others.

On the basis of distribution channel, the market is segmented into hospital pharmacies and retail pharmacies, among others. By region, the market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global spinal muscular atrophy treatment market covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Biogen Inc.

• Ionis Pharmaceuticals, Inc.

• F. Hoffmann-La Roche Ltd

• Novartis AG

• Cytokinetics Inc

• Others

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Market Share by Disease Type

Type 1 SMA has accounted for a larger share of the spinal muscular atrophy treatment market among other disease types and is expected to do the same in the forecast period. This is primarily because maximum cases of spinal muscular atrophy disorder are of Type 1.

Also known as Werdnig-Hoffmann disease, spinal musical atrophy Type 1 affects infants with symptoms becoming visible before the age of 6 months. Without intervention and treatment, Type 1 SMA can lead to fatalities before the age of 2 years. Due to the wide prevalence of type 1 SMA and timely diagnosis, treatments for Type 1 occupy a leading share of the market.

Type 2 SMA is the second most common occurring form of spinal musical atrophy, occurring between the ages of 6 months and 18 months, with progressively worsening symptoms. Spinal muscular atrophy treatment helps extend the lifespan and improve quality of life for patients with Type 2, increasing the demand for the market for SMA treatment.

Market Share by Distribution Channels

Hospital pharmacies has been leading the spinal muscular atrophy treatment market on the basis of distribution channels and are expected to be leading the market in the forecast period as well. Medications developed for the treatment of the spinal muscular atrophy are primarily administered intravenously and are advised to be administered by professional doctors or medical experts only. These factors are largely and rapidly contributing to the growth of the hospital pharmacy segment but are acting as a major restraining factor for the growth of the retail pharmacy segment.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Competitive Landscape

Biogen Inc is a biotechnology company that develops therapy for the treatment of neurological diseases globally with the help of world’s top neuroscientists and neurologists. It works with an aim to improve the future of medical research. It has its headquarter in Massachusetts, United States and was founded in 1978.

Ionis Pharmaceuticals Inc. was established in 1989 and is based out of California in the United States. It is a biotechnology company that is involved in the development and discovery of RNA- targeted therapeutics. They have a drug development platform named antisense technology that is capable of treating illnesses where other treatments prove to be ineffective.

F. Hoffmann-La Roche Ltd. was founded in 1896 with headquarters in Basel, Switzerland. It is a healthcare company that provides its products globally. They develop drugs that are used for the treatment of metabolic diseases, cancer, and virus diseases.

Other market players include Novartis AG, and Cytokinetics Inc, among others.

Key Highlights of the Report