Global Spinal Muscular Atrophy (SMA) Treatment Market is set to grow at a healthy CAGR of 13% by 2026 - Increasing Awareness on SMA Diagnosis and Treatments

Spinal Muscular Atrophy refers to a group of hereditary diseases that damages and kills specialized nerve cells in the brain and spinal cord (called motor neurons). Motor neurons control movement in the arms, legs, face, chest, throat, and tongue, as well as skeletal muscle activity including speaking, walking, swallowing, and breathing. There are four types of SMA, Type 1, Type 2, Type 3, and Type 4.

Increasing R&D Activities for the Treatment of Spinal Muscular Atrophy Drives the Spinal Muscular Atrophy Treatment Market

Currently, there is no known cure for Spinal Muscular Atrophy (SMA). However, multiple treatments are available to help slow the progression of the disease, relieve symptoms, and manage potential complications. In addition to these approved treatments, several other treatments are being tested in clinical trials. For instance,
 In January 2022, Cytokinetics announced that their collaboration with Astellas to advance the development of CK-2127107/ reldesemtiv ended in late 2021.
 In August 2021, Novartis announced the lift of a partial clinical trial hold and planned to initiate a new, pivotal Phase 3 study of intrathecal OAV-101 in older patients with spinal muscular atrophy.

Growing Adoption of Spinal Muscular Atrophy Treatment in Babies Fuels the Demand

Spinal muscular atrophy affects approximately 1 in 11,000 babies born worldwide each year and is the most common genetic cause of death in infants. There are several types of SMA that affect children. They vary in the age when symptoms first appear, the seriousness of symptoms, and how symptoms get worse. Early detection and treatment of SMA are important as studies suggest that therapy is most effective when started in the first few months of life., For children, treatment includes targeted therapy, respiratory therapy, nutritional therapy, muscle & joint therapy, and medications depending on the symptoms. Several innovative drugs have recently been developed that improve or ameliorate symptoms in many children.

North America Holds the Largest Market Share in Spinal Muscular Atrophy Treatment Market

North America holds the largest share of the spinal muscular atrophy treatment market followed by Europe and Asia-Pacific. The surge in the demand for drugs for the treatment including Nusinersen, Onasemnogene & Abeparvovec, rising healthcare expenditure, favorable reimbursement policies for the treatment of rare diseases, awareness on SMA Treatments, and rise in the number of R&D activities for the treatment of SMA in this region are some of the key factor driving the growth of the spinal muscular atrophy treatment market.

Competitive Landscape Analysis: Spinal Muscular Atrophy Treatment Market

The spinal muscular atrophy treatment market is marked by the presence of established and promising market players such as Astellas Pharma Inc., AstraZeneca PLC, Biogen Inc., and Salarius Pharmaceuticals Inc., among others.

Companies Adopt both Organic & Inorganic Growth Strategies to Increase their Market Share in Spinal Muscular Atrophy Treatment Market

Players operating in this market are adopting organic and inorganic growth strategies such as collaborations, acquisitions, and expansions to garner a higher market share. For instance,

 In May 2022, PTC Therapeutics Inc. announced that they have received U.S. Food and Drug Administration (FDA) approval for a label extension for Evrysdi® (risdiplam) to include infants under 2 months old with spinal muscular atrophy (SMA).
 In August 2021, Cytokinetics and Cure SMA announced the renewal of their partnership to increase education, awareness, public policy, and fundraising for spinal muscular atrophy (SMA).

The rising prevalence of spinal muscular atrophy (SMA), growing awareness on spinal muscular atrophy (SMA) diagnosis and treatment, rising number of initiatives to improve treatment options for rare diseases, and increasing R&D activities to develop novel therapies & treatments for spinal muscular atrophy (SMA) are some of the key factors driving the global spinal muscular atrophy treatment market. However, the high cost associated with the treatment of spinal muscular atrophy (SMA) is likely to hamper the SMA treatment market growth.

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Ruta Halde
Associate, Medi-Tech Insights
+32 498 86 80 79
info@meditechinsights.com
https://meditechinsights.com/

Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services.

This release was published on openPR.