Spinal Muscular Atrophy Market Set to Experience Significant Growth by 2031 | PTC Therapeutics, Inc., Novartis AG, Ionis Pharmaceuticals, Chugai Pharmaceutical Co

Market Overview:

Spinal muscular atrophy (SMA) is a genetic disorder that affects the part of the nervous system that controls voluntary muscle movement. SMA results in weakness and wasting (atrophy) of the muscles due to a loss of motor neurons in the spinal cord and brain stem. The signs and symptoms of SMA range from mild to severe and are often classified by the age of onset and highest physical milestone achieved.

Market Dynamics:

Rising prevalence of SMA and growing healthcare expenditure in emerging economies are driving the market growth. According to the World Health Organization, the global prevalence rate of spinal muscular atrophy is estimated between 1 in 6,000 to 1 in 10,000 live births. Significant investments by pharmaceutical companies in development of gene therapy and other innovative treatments for SMA is also propelling the market growth. For instance, Swiss drugmaker Novartis AG received FDA approval for Zolgensma gene therapy to treat SMA in 2019. Further, increasing awareness about SMA and availability of various screening programs are expected to fuel the market growth over the forecast period.

Sample Copy of Research Report @ https://www.coherentmarketinsights.com/insight/request-sample/1920

Leading Key Players Include in This Report:

Biogen, CYTOKINETICS, F. Hoffmann-La Roche Ltd, Genentech, Inc., PTC Therapeutics, Inc., Novartis AG, Ionis Pharmaceuticals, Chugai Pharmaceutical Co., Ltd., NMD PHARMA A/S, and Astellas Pharma Inc.

Since the report focuses on the healthcare sector, it also sheds light on key development in the said industry and latest R&D activities. It educates business owners on newly approved products, ongoing research and development, and products under the trial phase and in the pipeline.

Growing prevalence of spinal muscular atrophy driving market growth

The increasing prevalence of spinal muscular atrophy (SMA) around the world is a major driver for the growth of the global SMA market. SMA is a genetic disorder characterized by the loss of motor neurons and progressive muscle wasting and weakness. According to statistics, SMA affects approximately 1 in 10,000 live births and is a leading genetic cause of death for infants. With no approved treatments available for several SMA types, the market witnesses high unmet needs. Furthermore, increasing research activities and clinical trials to develop effective therapies are bringing newer treatment options, thereby expanding the market size.

High cost of drugs restricting market penetration

The extremely high cost of SMA drugs poses a huge restriction on their widespread adoption and penetration across markets. For instance, Zolgensma by AveXis is priced at a whopping $2.1 million per dose, making it the most expensive drug in the world. Similarly, Spinraza by Biogen costs over $750,000 for the initial year of treatment and over $350,000 annually thereafter. Such astronomically priced drugs strain the healthcare budgets and insurance coverage of most patients. This cost barrier prevents a large patient base from gaining access to life-changing SMA therapies. Unless solutions are found to make drugs more affordable, this exorbitant drug pricing will continue limiting the SMA market growth potential.

Detailed Segmentation:

By Type: Type I, Type II, Type III, Type IV
By Treatment: Gene Therapy, Disease-modifying drugs
By Age Group: Infant, Adult
By Route of Administration: Oral, Injectables
By Distribution Channel: Hospital Pharmacies, Retail Pharmacies, Online Pharmacies

To Purchase Report, Click Here @ https://www.coherentmarketinsights.com/insight/buy-now/1920

Opportunity for developing gene therapies

The SMA market presents a massive opportunity for developing effective and promising gene therapy treatments. While several drug candidates are in the pipeline, the most promising are gene therapies that can deliver long-term benefits with a single dose. For example, Zolgensma is a breakthrough gene therapy approved for pediatric patients. Its one-time administration radically transformed the treatment paradigm for SMA. More such innovative gene therapies are currently under research and clinical testing. Their successful development and approvals will provide a definitive cure for SMA, eliminating the need for repetitive lifetime therapies. This represents a huge commercial opportunity to meet the substantial unmet medical needs in SMA with transformative one-time curative treatments.

Shift towards early diagnosis and screening

An emerging trend in the SMA market is the shift towards early screening and diagnosis of infants. This is crucial because early diagnosis allows for timely intervention before irreversible damage occurs. Several countries are introducing newborn screening programs that test all babies for SMA soon after birth. Additionally, non-invasive prenatal testing allows for early detection of SMA in fetuses. Such screening facilitates early treatment initiation with promising therapies during the pre-symptomatic stage, leading to significantly better outcomes. This trend of newborn and prenatal screening is anticipated to pick up pace worldwide. It will help catch more SMA cases early and potentially transform clinical management of the disease over the long run.

Reason to Buy Our Market Research Report

✤ Strategic Decision-Making: This Market research reports offer comprehensive and reliable data, analysis, and insights about a market. By accessing this information, businesses can make well-informed strategic decisions Spinal Muscular Atrophy market entry, product development, target audience identification, competitive positioning, and growth opportunities.

✤ Market Understanding: These research reports provide a deep understanding of the market dynamics, trends, and factors influencing customer behavior. This understanding helps businesses identify market gaps, emerging opportunities, and potential threats, enabling them to adapt their strategies and offerings accordingly.

✤ Competitive Intelligence: This Market research reports analyze the competitive landscape by examining key competitors, market share, strengths, weaknesses, strategies, and customer preferences. This information allows businesses to benchmark their performance, identify competitive advantages, and develop effective strategies to outperform their rivals.

✤ Customer Insights: This Market research reports often include data and analysis on customer demographics, preferences, buying behaviors, and satisfaction levels. This information helps businesses understand their target audience better, tailor their products or services to meet customer needs, and develop effective marketing and communication strategies.

✤ Risk Mitigation: This Market research reports enable businesses to assess the potential risks and challenges associated with entering or expanding into a market. By understanding market dynamics, regulatory factors, economic conditions, and industry trends, businesses can mitigate risks, avoid costly mistakes, and make informed decisions that align with their objectives.

✤ Investment and Funding Decisions: This Market research reports provide credible data and analysis that can support investment decisions. They help businesses present a clear picture of the market opportunity, potential ROI, and growth prospects, making it easier to secure funding or attract investors.

✤ Validation and Credibility: Spinal Muscular Atrophy Market research reports offer independent and unbiased analyses conducted by industry experts. This lends credibility to the information presented and enhances the trust and confidence of stakeholders, including investors, partners, and customers.

✤ Long-term Business Planning: This Market research reports provide a foundation for long-term business planning. They offer insights into market trends, growth projections, and emerging opportunities, allowing businesses to develop sustainable strategies and stay ahead in a competitive market.

Get Customized Report @ https://www.coherentmarketinsights.com/insight/request-customization/1920

Why Us:

➥ We provide you with the greatest after-deals administration in the industry.

➥ We assist the customer with thorough reports on the Spinal Muscular Atrophy market.

➥ This intelligence research gives you a one-stop solution for anything Spinal Muscular Atrophy market-related.

➥ In accordance with the needs of the client, we can offer customized reports.

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬:
Mr. Shah
Coherent Market Insights Pvt. Ltd,
📞Phone: U.S.: +1-206-701-6702
📞U.K.: +44-020-8133-4027
📞JAPAN: +81-50-5539-1737
📞INDIA: +91-848-285-0837
✉ Email: sales@coherentmarketinsights.com

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

This release was published on openPR.