“Global spinal muscular atrophy (SMA) market is anticipated is to surpass USD 950 Million by 2020”, says Visiongain

07 November 2019
Pharma

Visiongain has launched a new pharma report “Spinal Muscular Atrophy (SMA) Market Report 2020-2030” Prospects by Disease (Type 1, Type 2, Type 3, Type 4), Treatment {Gene Therapy, Drug (RG6083, RG7916, Spinraza)}, Route of Administration (Oral, Intrathecal) and Geography.

Global spinal muscular atrophy (SMA) market is projected to grow on account of rising importance of rare diseases, increasing initiatives for creating awareness of SMA, and Growing research initiatives by market players for developing treatment for SMA among other contributing growth factors. The global spinal muscular atrophy (SMA) market is projected to grow at a lucrative CAGR of ~14% over the forecast period from 2020 to 2030 and anticipated is to surpass USD 950 Million by 2020.

The global spinal muscle atrophy (SMA) treatment market is anticipated to grow lucratively owing to the growing number of hospital admissions for SMA coupled with FDA approval for new therapy and medications over the forecast period. SMA occurs in infancy, it is a set of hereditary diseases that leads to muscle weakness and can even lead to death. SMA affects the brain and spinal cord development, leading to poor physical activity. SMA therapy also involves gene therapies and surgery; medications are also provided for overall disease management. 

Increasing awareness of SMA and increasing numbers of programs to expand treatment options for rare diseases are key factors that are boosting the market growth. The passage of the Orphan Drug Act, 1983 in the United States and a similar act for orphan pharmaceutical drugs in Europe, for instance, has expanded the reputation of research efforts in rare disease treatment.

In 2017, the United States. RG7916, a joint development project by SMA Foundation, Roche, and PTC Therapeutics for SMA care, was granted an orphan drug license by the FDA. Similarly, the United States issued the Orphan Drug Designation to the CK-2127107 of Cytokinetics. This is expected to increase the number of clinical researches in this area, thereby boosting the growth of the sector.

Also, initiatives undertaken by different public and non-profit organizations to raise awareness of SMA are another driving factor for the market. In January 2018, Biogen was invited by the National Institute for Health and Care Excellence (NICE) to submit a single Spinraza technology assessment to enable NHS funding.

Large pharmaceutical companies, primarily in the United States, Japan, and Europe, focus on new drug development and FDA approval on a global scale. Over the forecast period, top pipeline products such as Branapalm, Reldesemtiv, and Risdipalm among others will gain traction. Growth will be boosted globally by the increasing number of collaborations with research institutes and definitive deals with pharmaceutical companies in the United States market.

In 2018, the market was dominated by the United States owing to some of the factors such as high disposable income, and a rise in Spinraza's acceptance. The market will continue to grow due to a range of programs initiated by private organizations to raise awareness and support from research and development in the treatment of this disease.

For example, CureSMA is an organization dedicated to supporting and funding comprehensive research to improve SMA patients with treatment and care. It is anticipated that Asia Pacific will record the fastest CAGR over the forecast period. This rise is due to the rapidly developing health system in countries like China and India, as well as increasing numbers of programs to improve access therapies for tSMA. It is also predicted that the growth in consumer disposable income will have a positive impact on overall APAC market growth.

Some of the major players operating in this industry are Avexis, Inc., Biogen, Boehringer Ingelheim GmbH, Cytokinetics, Inc., F. Hoffmann-La Roche AG, Ionis Pharmaceuticals, Inc., Isis Pharmaceuticals, Inc., Novartis AG, Pfizer, Inc., and Regeneron Pharmaceuticals, Inc., among other prominent players.

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongain.com or call her on +44 (0) 207 336 6100.

About Visiongain
Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.

Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.

 

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