The global “spinal muscular atrophy market” is set to rise on account of increasing advancements in technology for treating the disease. Key market insights have been shared by Fortune Business Insights in its report, titled “Spinal Muscular Atrophy Treatment Market Size, Share And Global Trend By Type (Type I, Type II, Type III, Type IV), By Treatment Type (Gene Therapy, Drugs Therapy), By End User (Hospitals, Clinics, Ambulatory Surgery Centers, Others), And Geography Forecast Till 2026”. The report provides a comprehensive market analysis and a holistic evaluation of the major factors that will influence market growth.
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Spinal muscular atrophy (SMA) is an inherited disorder that leads to disintegration of motor neurons in the spinal cord. Motor neurons are responsible for transmitting nerve impulses from the brain to the spinal cord; the peripheral nerves then transmit the message to the muscles. Once the motor neurons start failing, muscles get progressively weaker and begin to atrophy (muscle loss), making the condition permanent and irreversible. Muscle atrophy mainly affects proximal muscles such as shoulders and hips.
some of the key players in the global Spinal Muscular Atrophy Market:
- Ionis Pharmaceuticals
- Pfizer Inc.
- Boehringer Ingelheim International GmbH
- Hoffmann-La Roche Ltd.
- AveXis, Inc.
- Novartis AG
- CYTOKINETICS, INC.
- REGENERON PHARMACEUTICALS, INC.
Rising Treatment Concerns to Boost the Market
Since spinal muscular atrophy is a permanent and incurable medical affliction, there are growing concerns regarding choosing the most appropriate treatment method for the disease. The choice of treatment is crucial as it will determine how much of the patient’s pain and discomfort can be alleviated. This is expected to boost the global spinal muscular atrophy market growth during the forecast period as newer treatments and technologies get developed.
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Improved Diagnostic Techniques to Broaden the Market Base
Currently, doctors use conventional diagnostic methods, such as CT and MRI scans muscle tissue biopsy, to detect the development and progression of the disease in a child. Greater investment in research by companies and organizations to make diagnosis more pinpoint will aid the global spinal muscular atrophy market expansion till 2026.
Moreover, there is growing concern regarding detection of the type of SMA, particularly in case of Type 1 SMA which is the severest of all types. Most children having this type of SMA do not live past 2 years of age due to weak lung muscles. As a result, the Type 1 SMA market segment is expected to grow rapidly as the type becomes more prevalent.
- Type I
- Type II
- Type III
- Type IV
By Treatment Type
- Gene Therapy
- Drugs Therapy
By End User
- Ambulatory Surgery Centres
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
High Treatment Costs to Hinder Market Growth
The global spinal muscular atrophy market is anticipated to have restrained growth owing to the expensive treatments and drugs available for the disease. For example, Novartis recently developed and got FDA approval for their gene therapy drug, Zolgensma, which costs US$ 2.125 mn. It is the only available, one-dose treatment for all categories of SMA. As it’s a rare disorder, affecting 1 in 10,000 babies in the US, developing treatments and drugs is not seen as economically viable by most companies. This will have a negative impact on the global spinal muscular atrophy market in the forecast period.
Intense Research and Innovation to Drive Market Competition
Competition in the global spinal muscular atrophy market is expected to intensify as companies look to launch innovative products and increase market share through acquisitions. For example, the Swiss pharma multinational, Novartis, acquired the US-based AveXis in 2018 to entrench its position in the gene therapy market for treating spinal muscular atrophy. In July 2019, Biogen released results of its NURTURE study of SMA patients which revealed that patients treated with SPINRAZA showed continuous improvement in their motor functions. Such studies will encourage more companies to invest in research and development.
Some of the key players in the global spinal muscular atrophy market, as identified by Fortune Business Insights, include Hoffman-Le Roche Ltd., CYTOKINETICS, Ionis Pharmaceuticals, Biogen, Novartis, and a few others.
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An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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