Spinal Muscular Atrophy Medicine Market Growth Analysis | 2023-2028

Market Insights

The spinal muscular atrophy medicine market was estimated at USD 1.26 billion in 2022 and is likely to grow at a CAGR of 13.44% during 2023-2028 to reach USD 2.68 billion in 2028.

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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.

COVID-19 Impact

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.

Key Players

Key players operating in the global 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.

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Segment Analysis

By Treatment Type

By treatment, the spinal muscular atrophy medicine market has been segmented into gene therapy and drugs. Under these, the drugs segment garnered the highest market share in 2022 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 Insights

By region, North America accounted for the highest market share in 2022 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.

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Critical Questions Answered in the Report

• What are the key trends in the global 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 market?
• What are the key strategies adopted by the major vendors to lead in the market?
• What is the market share of the top vendors?

Market Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

The spinal muscular atrophy medicine market is segmented into the following categories.

By Disease Type

• Type 1
• Type 2
• Type 3
• Type 4

By Treatment Type

• Gene therapy
• Drugs

By Route of Administration Type

• Oral
• Intrathecal

By Region

• North America (Country Analysis: The USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, The UK, Russia, and the Rest of Europe)
• Asia-Pacific (Country Analysis: Japan, China, India, and the Rest of Asia-Pacific)
• Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)

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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

Research Methodology

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s spinal muscular atrophy medicine market realities and future market possibilities for the forecast period.

The report segments and analyzes the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.

We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

What Deliverables Will You Get in this Report?

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to three players)
• SWOT analysis of key players (up to three players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

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