The spinal muscular atrophy market involves the manufacturing and sale of drugs, equipment, and therapeutics that help diagnose and treat spinal muscular atrophy. Spinal muscular atrophy is a genetic disorder that affects the motor nerve cells in the spinal cord, leading to weakening of muscles and impaired movement. The main treatments include SMN gene therapy, nusinersen, and risdiplam. Research is also ongoing for oligonucleotide therapies like Branch ASO.
The Global spinal muscular atrophy market is estimated to be valued at US$ 2089.13 Bn in 2024 and is expected to exhibit a CAGR of 7.8% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the spinal muscular atrophy market include Samsung Electronics, Daktronics, Exceptional 3D, LG Electronics, Panasonic Corporation, Sony Corporation, Leyard Optoelectronic Co., Ltd., Scala, E Ink Holdings Inc., Deepsky Corporation Ltd., Intel Corporation, and Microsoft Corporation. Biogen’s nusinersen holds a major market share currently.
The growing disease awareness through campaigns by patient advocacy groups and researchers is fueling the demand for effective treatment options for Spinal Muscular Atrophy Market Demand. With improved diagnosis aided by newborn screening, more patients are being identified globally.
Major pharmaceutical companies are also expanding their geographical presence and product portfolio in spinal muscular atrophy. Companies are investing in clinical trials for gene therapies and other novel treatment candidates to tap the significant market potential, especially in developing nations.
Market Drivers
The increasing campaigns by advocacy groups to spread awareness about spinal muscular atrophy and its treatment options is a major market driver. Organizations like Cure SMA and Muscular Dystrophy Association are playing a critical role in educating the public and healthcare professionals about early diagnosis and management of the disorder. This has led to higher treatment-seeking rate globally. Additionally, the promising pipeline of gene and oligonucleotide therapies in clinical trials is also attracting investments and fostering market growth.
Geopolitical impact on Spinal Muscular Atrophy Market Growth
The current geopolitical turmoil driven by the Russia-Ukraine conflict and global inflation is impacting the growth of the spinal muscular atrophy market. Supply chain disruptions caused by the war have led to shortages and price hikes of key materials used in manufacturing drugs and therapies for spinal muscular atrophy. This has constrained production volumes of new drug launches. Additionally, economic uncertainty in major markets has weakened consumer spending on healthcare. To sustain growth, companies must diversify their supply networks, build inventory buffers, and explore partnerships in new territories. They will also need to focus on value-based pricing models and increasing accessibility through partnerships with payers and governments.
Geographical concentration of Spinal Muscular Atrophy Market value
Currently, North America accounts for the largest share of the global spinal muscular atrophy market in terms of value. This can be attributed to the high adoption of newly launched drugs such as Zolgensma and Evrysdi in the US, facilitated by expedited FDA approval pathways and insurance coverage for orphan drugs. Additionally, growing diagnosis rates aided by newborn screening programs and concentrated presence of key market players have boosted the market in North America. However, Asia Pacific is expected to exhibit high growth over the forecast period given the large patient pool and improving access to diagnosis and treatments in countries like China and India.
Fastest growing region in Spinal Muscular Atrophy Market
The Asia Pacific region holds immense growth potential for the spinal muscular atrophy market driven by rapidly developing healthcare infrastructure, greater awareness about rare diseases, rising affordability, and government efforts to boost screening and care pathways. In particular, China and India present lucrative opportunities owing to their huge populations and increasing prioritization of rare disease management by healthcare systems and insurers. Additionally, growing R&D investments by global pharmaceutical companies to develop low-cost therapies and expand geographical footprints will aid market penetration in Asia Pacific. This makes it the fastest growing region for the spinal muscular atrophy market in the upcoming years.
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