Spinal Muscular Atrophy Treatment Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Spinal Muscular Atrophy Treatment Market

The Spinal Muscular Atrophy Treatment Market size was valued at USD 1.72 billion in 2023, and the market is now projected tgrow t31.89 USD billion by 2032, exhibiting a CAGR of 21.8% during the forecast period of 2023-2030.

The pandemic has been anticipated tbe a bane for the entire industrial developments of various market and fields. This has affected the overall supply and demand chains of the particular market. As a result of the government's lockdown and other steps tstop the coronavirus from spreading, all supply activities were postponed, which decreased the amount of product related tthis domain. These factors affected the Spinal Muscular Atrophy Treatment Market growth.

The quest for effective treatment alternatives that improve patient outcomes is being driven by the striking rise in the prevalence and awareness of spinal muscular atrophy. Twlarge and highly important gene therapy product introductions for the treatment of spinal muscular atrophy have occurred recently. This is the major factor attributing the growth of this particular market. This factor is majorly involved in taking the revenue numbers above the skies and soaring greater heights and alsthe sales and demands have been proliferation and increased its value tgreater extent. The market is expected tbe significantly influenced by the introduction of twnew products: Biogen's Spinraza (Nusinersen) and Novartis' Zolgensma (Onasemnogene abeparvovec), which treat the disease. These elements, when combined with the treatments' high efficacy, are expected tpropel the market. These particular growth driving factors have been recorded tattribute the Spinal Muscular Atrophy Treatment Market Share.

Increasing access tthe reimbursement of pricey medications worldwide in numerous countries is one of the main trends in the global spinal muscular atrophy (SMA) treatment market. It is necessary for a product market twalk with the trends in order tincreases its lucracy and profits in shares and all over revenue. Growing R&D efforts that have led tthe emergence of possible treatment options in the pipelines of large firms are one of the significant market trends in the spinal muscular atrophy treatment market. Patients now have more options for treatment and are more knowledgeable thanks tthese R&D projects. In the upcoming years, it is anticipated that this will increase the number of people choosing treceive therapy.

Comprehensive Analysis of Spinal Muscular Atrophy Treatment Market

The segmentation of this particular market has been divided and then further subdivided intvarious categories. Onasemnogen Abeparvovec and Nusinersen are the twproduct-based market segments. The largest percentage went tNusinersen. Type 1 SMA, Type 2 SMA, and Others are the disease-specific categories intwhich the worldwide spinal muscular atrophy treatment market is divided. Revenue from Type 1 SMA was the highest of the three categories. The global market for SMA treatment is divided intmany distribution channels, including retail pharmacies and hospital pharmacies. Hospital pharmacy held the largest proportion of the market in terms of worth.

North America holds the largest market over the forecast period, according tthe conclusions based on our research methodology. Our market research study indicates that the value of the spinal muscular atrophy therapy market is anticipated tincrease at a comparatively large rate in Asia Pacific. Public and private sector funding tincrease access texpensive treatment alternatives is anticipated tsupport market growth during the forecast period. For example, China is presently undergoing the reimbursement approval procedure, but major Asian countries like Japan and Hong Kong have awarded all patients the status of funded access. It is anticipated that throughout the projection period, the growth of the Asia Pacific market will be aided by such a favorable reimbursement landscape for the treatment of spinal muscular atrophy. The region is expected tmaintain a significant proportion during the projected period.

Global markets are fiercely competitive and highly fragmented. Due ttheir creative packaging solutions, a few group of large market companies hold a fair amount of market share. Some of the major Companies includes Biogen (U.S.), Novartis AG (Switzerland), Genentech, Inc./ F. Hoffmann-La Roche Ltd (U.S.), Astellas Pharma Inc. (Japan), and Genzyme Corporation (U.S.).

In May 2021, This particular company has attributed the market growth in terms of revenue and shares system. The FDA approved Novartis AG's Zolgensma (onasemnogene abeparvovec-xioi) as the first and only gene therapy for children with spinal muscular atrophy (SMA).

Segmentation Table

ATTRIBUTE DETAILS

Study Period - 2017-2026

Base Year - 2018

Forecast Period - 2019-2026

Historical Period - 2017

Unit - Value (USD million)

Segmentation By Product

• Nusinersen
• Onasemnogen Abeparvovec

By Disease Type

• Type 1 SMA
• Type 2 SMA
• Others

By Distribution Channel

• Hospital Pharmacies
• Retail Pharmacies
• Others

By Geography

• North America (U.S. and Canada)
• Europe (U.K., Germany, France, Italy, Spain, and Rest of Europe)
• Asia Pacific (Japan, China, India, Australia, and Rest of Asia Pacific)
• Rest of the World

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