"Spinal muscular atrophy treatment market to exhibit dynamic growth during the forecast period"
The global spinal muscular atrophy treatment market is growing proficiently, expected to grow at a CAGR of 14.5%. Globally, the increasing incidence of SMA along with improved treatment management by innovative gene therapy and drugs will drive the growth of the market. Increasing awareness, FDA approval for new drugs, partnerships for enhanced R&D and private funding will boost the overall demand of SMA treatment on a global scale.
Market Synopsis
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"Type I SMA treatment to witness a significant CAGR"
Growing hospital admissions for type I SMA and its therapeutic treatment generated maximum revenue share in 2018. Increasing incidences of SMA in infants and advancement in gene therapy along with strong pipeline drugs internationally will drive the market growth. New drug development for type II and III will show promising growth in the near future, enhanced joint development programs for innovative therapies will drive the demand in the near future such as Risdiplam (RG7916), Reldesemtiv (CK-2127107), Branaplam (LMI070) and others.
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"Gene therapy treatment to witness a significant CAGR in the near future"
Drugs accounted for the maximum revenue share in 2018. In 2018, drugs emerged as the principal treatment application for spinal muscular atrophy (SMA) since Spinraza (developed by Biogen & Ionis Pharmaceuticals) is the only drug approved till date. Additionally, in May 2019, the U.S. FDA approved Zolgensma® (onasemnogene abeparvovec-xioi) by AveXis (Novartis AG), the first gene therapy for infants (less than 2 years of age) suffering with spinal muscular atrophy. Advancement in gene therapy, FDA approval for new drugs, and strong pipeline products offer a huge advantage in the global SMA treatment market. PTC Therapeutics and F. Hoffmann-La Roche AG proceeded with official plans to file for approval in the U.S. market and Europe by the end of 2019, it would set possible approval for the SMA treatment in the first half of 2020.
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"Increased research and development with strong product pipelines in the developed regions"
Major players in the spinal muscular atrophy treatment market are Biogen Idec., Pfizer Inc., Boehringer Ingelheim, Isis Pharmaceuticals, F. Hoffmann-La Roche, Regeneron Pharmaceuticals, AveXis Inc., Novartis AG and others. Merger and acquisitions, partnerships and improved R&D on spinal muscular atrophy targeted treatments will further drive the overall market growth in the near future. Strong pipeline drugs will enhance the overall treatment management for SMA, such as Zolgensma (Novartis), Branaplam (Novartis), Amifampridine Phosphate (Catalyst Pharmaceuticals), Risdiplam (Hoffmann-La Roche) and others.
Historical & Forecast Period
This study report represents analysis for each segment from 2017 to 2027 considering 2018 to be the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period from 2019 to 2027.
Report Scope by Segments
Market Segmentation
| ATTRIBUTE |
DETAILS |
| Research Period |
2017-2027 |
| Base Year |
2018 |
| Forecast Period |
2019-2027 |
| Historical Year |
2017 |
| Unit |
USD Million |
| Segmentation |
By Type (2017–2027; US$ Mn)
• Type I
• Type II
• Type III
|
|
Application (2017–2027; US$ Mn)
• Gene Therapy
• Drugs
|
|
Geography Segment (2017–2027; US$ Mn)
• North America (U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (Japan, China, India, Rest of Asia Pacific)
• Rest of the World (Middle East & Africa, Latin America)
|
The current report also comprehends qualitative and qualitative market valuation factors such as key market drivers, market trends, restraints and opportunities that gives a better market understanding of the overall spinal muscular atrophy treatment market. Additionally, the global report also comprises graphical representation of competitive landscape based on their market initiatives and strategies, product portfolio and business strengths.
Key questions answered in this report
- What are the current market trends and dynamics in the Spinal Muscular Atrophy Treatment market and valuable opportunities for emerging players?
- Which segment accounts for the fastest CAGR during the forecast period?
- Which by Type segment holds a larger market share and why?
- Are low and middle-income economies investing in the Spinal Muscular Atrophy Treatment market?
- What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America and Middle East & Africa?
