Press release
Spinal Muscular Atrophy (SMA) Treatment Market Size will Grow at a Robust Pace through 2021
Spinal muscular atrophy (SMA) refers to a group of inherited diseases that affects the functioning of muscles because of deterioration. It typically results in weakness, and may even lead to death. SMA affects motor neurons present in the brain and spinal cord. These motor neurons are responsible for the transfer of electric and chemical signals to and from voluntary muscles in the body, enabling various physical activities such as walking, crawling, swallowing, and others.
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In addition, government initiatives and improving healthcare infrastructure are driving the market for SMA treatment. However, factors such as high costs involved in the treatment and lack of skilled professionals for surgical procedures and physiotherapy regimens restrain the market from growing.
North America dominates the global market for SMA treatment due to the high prevalence of SMA and increased adoption of SMA treatment options in the region. In addition, technological advancements in the field are driving the SMA treatment in the North America. Asia, followed by Europe, is expected to experience a high growth rate in the SMA treatment market in the next few years.
China and India are expected to be the fastest-growing SMA treatment markets in the Asian region. Some of the key driving forces for the SMA treatment market in emerging countries are: A large pool of patients and rising government initiatives in the form of funding and strict laws. In addition, increasing awareness about the diagnosis and treatment of SMA is driving the market in the Asia region.
One of the major factors driving the global SMA treatment market is an increase in the prevalence of SMA. In addition, factors such as rising awareness, technological advancements, government initiatives, and improvement in the reimbursement scenario are driving the global SMA treatment market. However, the market will face impediments in the form of the high costs of treatment and lack of experienced professionals. In addition, a low adoption rate of SMA treatment options is restraining the market.
Growing population and economies in developing countries such as India and China are expected to offer sizeable opportunities for the global SMA treatment market. Innovation of more efficient products is expected to offer opportunities for the global SMA treatment market. A rising number of mergers and acquisitions, new product launches, and upsurge in collaborations and partnerships are some of the latest trends that have been observed in the global SMA treatment market.
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Top companies profiled in this report are:
Pfizer, Inc., Isis Pharmaceuticals, Inc., Biogen Idec., Boehringer Ingelheim GmbH, F. Hoffmann-La Roche AG, Regeneron Pharmaceuticals, Inc.
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