Spinal Muscular Atrophy Market accounted for US$ 2.5 billion in 2020 and is estimated to be US$ 16.9 billion by 2030 and is anticipated to register a CAGR of 21.35%. Mutations in the survival motor neuron 1 gene, SMN1, cause spinal muscular atrophy, an autosomal recessive condition characterised by degeneration of motor neurons in the spinal cord. SMA is a rare hereditary disorder that affects the component of the neurological system that controls voluntary muscle movement. SMA is caused by the loss of motor neurons in the spinal cord, which causes muscles to weaken and movement issues. There are four forms of spinal muscular atrophy, each of which begins at a different age.
The report " Global Spinal Muscular Atrophy Market, By Disease Type (Type I, Type II, Type III, and Type IV), By Age (Infant and Adult), By Treatment (Drug Therapy and Gene Therapy) and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa) - Trends, Analysis and Forecast till 2029’’
Key Highlights:
· In July 2021, Roche has launched a spinal muscular atrophy (SMA) treatment drug in India priced at around 6lakhper bottle. The drug Evrysdi is approved for the treatment of SMA in adults and children 2 months of age and older, Roche said it was approved by the Indian health authorities after reviewing its efficacy and safety data from 3 global clinical studies designed to represent a broad spectrum of people living with SMA.
· In July 2021, SadBaby has pledged to help SMA (Spinal Muscular Atrophy) patients in improving their life and ensuring that no child is left uncured. The project launched by SadBaby focuses on gathering funds through their supporters and investors and utilizes it for meeting the financial requirements of the SMA patients..
Analyst View:
Rising cases of spinal muscular atrophy globally, as well as an increase in the number of ongoing clinical trial studies and increased research and development funding from the government and various healthcare regulatory bodies, are expected to propel the global spinal muscular atrophy market forward over the forecast period. Another factor driving the market is the initiatives performed by various public and nonprofit organizations to raise awareness about SMA. Treatment therapy for this illness is also being developed by research institutes which is also increasing the markets growth.
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Key Market Insights from the report:
The Global Spinal Muscular Atrophy Market accounted for US$ 2.5 billion in 2020 and is estimated to be US$ 16.9 billion by 2030 and is anticipated to register a CAGR of 21.35%. The Global Spinal Muscular Atrophy Market is segmented based on the disease type, age, treatment and region.
· By Disease Type, the market is segmented into Type I, Type II, Type III, and Type IV.
· By Age, the Global Spinal Muscular Atrophy Market is segmented into Infant and Adult.
· By Treatment, the market is segmented into Drug Therapy and Gene Therapy.
· By Region, the Global Spinal Muscular Atrophy Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to witness significant growth in spinal muscular atrophy market.
Competitive Landscape:
The key players operating in the global Spinal Muscular Atrophy market includes Biogen, Cytokinetics, Inc., F. Hoffmann-La Roche, Novartis AG, Pfizer Inc., and Ionis Pharmaceuticals, Inc.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
