The Spinal Muscular Atrophy Market is Estimated to Witness High Growth Owing to Increasing Prevalence of Muscular Dystrophy
The global spinal muscular atrophy market is estimated to be valued at US$ 4 Billion in 2024 and is expected to exhibit a CAGR of 13% over the forecast period.
Naufan Cmi
Spinal muscular atrophy (SMA) is a genetic disease that affects the nervous system and muscle strength. It is caused by deficiency of Survival Motor Neuron (SMN) protein due to deletions or mutations in the SMN1 gene. There are different types of SMA classified based on the age of onset and highest physical milestone achieved. SMA treatments include nusinersen and risdiplam that address the underlying genetic root cause of SMA.
The global spinal muscular atrophy market is estimated to be valued at US$ 4 Billion in 2024 and is expected to exhibit a CAGR of 13% over the forecast period.
Key Takeaways
The Spinal Muscular Atrophy Companies are Biogen Inc., Novartis AG, F. Hoffmann-La Roche Ltd., Pfizer Inc.
The global SMA patient community is growing due to increasing diagnosis rates. Early diagnosis and growing access to treatment options also present growth opportunities in the market.
Asia Pacific region has witnessed rising prevalence of SMA and represents a lucrative region for companies to expand due to growing medical infrastructure and healthcare investment in developing Asian markets.
Market drivers
The increasing prevalence of muscular dystrophy and growing patient population diagnosed with Spinal Muscular Atrophy Market Growth is a major factor fueling growth of the global spinal muscular atrophy market. According to muscular dystrophy association, nearly 1 in 3,500 infants in the U.S. are born with some type of muscular dystrophy. Moreover, increasing research activities for development of novel treatments for SMA is also positively influencing the market growth.
PEST Analysis
Political: The government policies and regulations related to healthcare industry impact the SMA market. Regulations around drug approval and pricing influence market growth.
Economic: Factors like GDP, income levels, healthcare spending patterns in turn influence demand for SMA treatment drugs. Changes in economic conditions especially recessions may impact market performance.
Social: Growing medical awareness and changing attitudes towards rare genetic diseases are driving increased focus on SMA. Social support programs also aid patient access to expensive treatment options.
Technological: New drug development and advances in gene therapy are expanding treatment options for SMA. Precision medicine allows for more targeted interventions. Collaboration between industry and research institutes advances the science.
Geographical Regions with Major Market Share
North America currently dominates the SMA market in terms of value, led by the United States. This is due to advanced healthcare infrastructure, high healthcare spending, and favorable regulations supporting drug innovation. Europe is another major revenue generator for SMA drugs worldwide.
Fastest Growing Regional Market
The Asia Pacific region is poised to experience the highest growth in the global Spinal Atrophy Market Research during the forecast period. This is attributed to rising incomes, growing medical awareness, increasing government focus on rare disease treatment, and expansion by major industry players into emergingAsia-Pacific countries.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc.
