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  • Spinal Muscular Atrophy Medicine Market Growth Analysis | 2021-2026

    Spinal Muscular Atrophy Medicine Market Growth Analysis | 2021-2026

    Spinal Muscular Atrophy Medicine Market Growth Analysis | 2021-2026
    Report code - SRHL284 Delivery - 2 Weeks
    Spinal Muscular Atrophy Medicine Market Size, Share, Dynamics, & Growth Analysis- 2021 See more...

    Market Insights

    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.

    Spinal-Muscular-Atrophy-Medicine-Market-Insights

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    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.

    Spinal Muscular Atrophy Medicine Market Highlights

    Market Size in 2020

    USD 980.6 million

    Market Size in 2026

    USD 2085.4 million

    Market Growth (2021-2026)

    13.4% CAGR

    Base Year of Study

    2020

    Trend Period

    2015-2019

    Forecast Period

    2021-2026

    Key Players

    Key players operating in the spinal muscular atrophy medicine market are-

    • 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.

    Spinal-Muscular-Atrophy-Medicine-Market-Dynamics

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    Segment Analysis

    Treatment Trends

    By treatment, the spinal muscular atrophy medicine market has been segmented into gene therapy and drug. Under these, the drug segment garnered the highest market share in 2020 and is likely to register a substantial CAGR during the review period. The SMA Foundation financed more than USD 60 Mn in drug development programs and essential drug discovery assets in 2015 that aimed at developing an effective SMA therapy. Also, Spinraza is the only medicinal drug approved for the treatment of SMA to date, further propelling segment growth.

    Regional Trends

    By region, North America accounted for the highest market share in 2020 and is estimated to grow at a steady CAGR during the assessment period.

    • This is mainly ascribed to growing healthcare expenditure, high disposable income, improving standards of living with large population growth, and the rise in the adoption of Spinraza, which boosts regional growth.
    • Also, there is an increase in the number of initiatives undertaken by private companies and NGOs to spread awareness and support R&D activities for the treatment of SMA.

    Spinal-Muscular-Atrophy-Medicine-Market-Regional-Trends

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    COVID-19 Impact on Spinal Muscular Atrophy Medicine Market

    The outbreak of the COVID-19 virus has considerably affected the spinal muscular atrophy medicine industry owing to stringent lockdown measures and restricted movement of people. The unprecedented outbreak of coronavirus (SARS-CoV-2) has overshadowed the SMA treatment industry. The funds received for R&D activities and drug development for SMA have been declining, as most of the funds have been used up for vaccine production for COVID-19.

    Critical Questions Answered in the Report

    • What are the key trends in the global spinal muscular atrophy medicine market?
    • How the market (and its various sub-segments) has grown in the last five years and what would be the growth rate in the next five years?
    • What is the impact of COVID-19 on the global spinal muscular atrophy medicine market?
    • What are the key strategies adopted by the major vendors to lead in the global spinal muscular atrophy medicine market?
    • What is the market share of the top vendors?

    Target Audience

    The following is a list of the customers that the Spinal Muscular Atrophy Medicine Market aims to convert the most:

    • Spinal muscular atrophy medicine companies
    • Spinal muscular atrophy medicine vendors
    • R&D companies
    • Hospitals
    • Drug manufacturing companies

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.

    Frequently Asked Questions (FAQs)

    The spinal muscular atrophy medicine market is expected to witness an impressive growth of 13.4% CAGR in the foreseeable future.

    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) are among the key players in the market.

    The spinal muscular atrophy medicine market is expected to reach USD 2,085.4 million in the coming years.

    Growing awareness regarding SMA worldwide and a rising number of initiatives to enhance the treatment options for such rare diseases are the factors driving the growth of the market.

    North America accounted for the highest share in the market in 2020.

    The drug segment garnered the highest share in the market in 2020.

    Spinal muscular atrophy medicine companies, Spinal muscular atrophy medicine vendors, R&D companies, Hospitals, Drug manufacturing companies are the market.