 |
| Spinal Muscular Atrophy Market |
The
global Spinal Muscular Atrophy Market is estimated to be valued at US$ 1813.48 Mn or Billion in 2023 and
is expected to exhibit a CAGR of 13%
over the forecast period 2023 to 2030,
as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Spinal
muscular atrophy is a group of inherited diseases that causes weakness and
wasting in the muscles of arms, legs, neck and face due to the loss of
specialized nerve cells in the spinal cord. Spinal muscular atrophy medicines
help in the treatment of spinal muscular atrophy by increasing the survival
rate of motor neurons and improving muscle functions.
Market key trends:
One
of the key trends in the spinal muscular atrophy market is technological
advancements in gene therapies. Gene therapies are novel treatment approaches
that involve modifying or manipulating genes to treat or cure disease. Major
companies such as Biogen and Novartis are focusing on developing advanced gene
therapies for SMA through adeno-associated virus vectors. For instance,
Zolgensma by Novartis is the first and only gene therapy approved by the FDA
for the treatment of SMA. It uses the AAV9 vector carrying the human SMN gene
to help treat the underlying cause of SMA.
Segment Analysis:
The
spinal muscular atrophy market is segmented based on type, treatment, route of
administration, and distribution channel. By type, the 5q SMA segment dominated
the market in 2022 and is expected to continue its dominance over the forecast
period. 5q SMA accounts for approximately 95% of all SMA cases and is the most
common type among SMA patients.
Key Takeaways:
The Global
Spinal Muscular Atrophy Market Growth is expected to witness high,
exhibiting a CAGR of 13% over the
forecast period, due to increasing awareness about SMA and the availability of
newer treatment options.
Regional Analysis
North
America dominated the global spinal muscular atrophy market in 2022 and is expected
to continue its dominance over the forecast period. The regional growth can be
attributed to the rising incidence of SMA, strong presence of key
pharmaceutical companies, and rapid adoption of innovative therapies in the
region.
Key Players
Key players
operating in the spinal muscular atrophy market are Biogen, CYTOKINETICS, F.
Hoffmann-La Roche Ltd, Genentech, Inc., PTC Therapeutics, Inc., Novartis AG,
Ionis Pharmaceuticals, Chugai Pharmaceutical Co., Ltd., NMD PHARMA A/S, and
Astellas Pharma Inc. With the market expected to grow at a higher rate, these
players are likely to invest more in R&D for innovative treatment options.
Read More - https://www.trendingwebwire.com/spinal-muscular-atrophy-market-share-and-demand-analysis/
Comments
Post a Comment