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Stratview Research, a global market research firm announces the release of the report titled – Spinal Muscular Atrophy Medicine Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.

Stratview Research has segmented the market by Disease Type (Type 1, Type 2, Type 3, Type 4), by Treatment (Gene therapy, Drug [Spinraza, RG7916, RG6083 (Olesoxime)]), by Route of Administration (Oral, Intrathecal), and Region (North America, Europe, Asia-Pacific, and Rest of the World).

According to this report, the spinal muscular atrophy medicine market is projected to grow from USD 980.6 million in 2020 to USD 2,085.4 million by 2026 at a CAGR of 13.4% during the forecast period.

What is a Spinal Muscular Atrophy (SMA)?

Spinal Muscular Atrophy (SMA) is a very rare genetic disorder that affects the part of the central nervous system that controls voluntary muscle movements. SMA is an autosomal recessive neurodegenerative genetic disorder that is characterized by atrophy and the weakening of muscles. It is one of the most common debilitating genetic disorders and a primary genetic cause of death among infants. It mainly affects approximately one in 10,000 live births across the globe.

Key Players

Biogen (The U.S),

Ionis Pharmaceuticals, Inc. (The U.S),

F. Hoffmann - La Roche Ltd (Switzerland),

Avexis, Inc. (The U.S),

Novartis AG (Switzerland),

Cytokinetics, Inc. (The U.S),

Pfizer Inc. (The U.S),

Boehringer Ingelheim International GmbH (Germany),

Regeneron Pharmaceuticals, Inc (The U.S), and

Abbott (The U.S).

Market Dynamics

Rising incidence and awareness of spinal muscular atrophy has surged significantly which is likely to spur the need for efficient therapeutic options, resulting in better patient outcomes.

Growing awareness regarding SMA worldwide and a rising number of initiatives to enhance the treatment options for such rare diseases are some of the prime factors bolstering SMA medicine demand.

Also, favorable initiatives undertaken by the government, public, and non-profit organizations for spreading awareness regarding SMA are further augmenting the market growth.

However, the high cost associated with SMA treatment and medicines is likely to hinder the industry's growth.

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