Spinal Muscular Atrophy Treatment Market 2020 Growth Analysis, Segmentation, Trend, Future Demand And Leading Players Updates By Forecast To 2028
Research Nester published a report titled “Spinal Muscular Atrophy Treatment Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers a detailed overview of the Spinal muscular atrophy drug market in terms of market segmentation by treatment, by route of administration, by disease type, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis, and Porter’s five force model.
Spinal muscular atrophy (SMA) is a genetic disease, most common in infants and children, which affects the central nervous system, peripheral nervous system, and voluntary muscle movement in an individual. SMA includes the loss of nerve cells termed motor neurons in the spinal cord and is classified as a motor neuron disease. This rare disease is the leading genetic cause of mortality in infants and young children globally.
The spinal muscular atrophy treatment market is expected to witness an attainable high CAGR during the forecast period, i.e., 2020-2028. The market is segmented by treatment, route of administration, disease type, and region. Among the route of administration, the intrathecal segment is expected to hold the leading position in the as oral drugs are not ready for commercialization yet. Among treatment, the drug segment holds the total market share in the global market owing to the only treatment available for SMA is a drug known as Spinraza. However, in the gene therapy segment, Zolgensma is the first-ever gene therapy approved by the U.S. FDA in 2019, which will further boost the segment in the foreseeable future
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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Regionally, the spinal muscular atrophy drug market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
The spinal muscular atrophy treatment market in the North-America region is expected to hold the major market share on account of the growing occurrence of spinal muscular atrophy treatment drugs being manufactured after extensive R&D by key players, the region holds the title for producing the first-ever drug for treating SMA in 2016, affordability of expensive rare disease therapies, presence of well-established healthcare infrastructure, growing awareness among the populace, and various organizations spreading awareness via campaigns and assisting in funding the research programs.
Europe is expected to be the second-largest market for spinal muscular atrophy treatment owing to factors such as rising government spending on healthcare infrastructure in the European countries and growing cases of spinal muscular atrophy among the population.
The Asia-Pacific region is estimated to witness the fastest growth during the forecast period owing to the increasing demand for treatment for SMA in the emerging countries, expansion in healthcare expenditure, infiltration of leading players into the market, growing population, and an upsurge in disposable income.
The rising cases of rare disease patients globally are motivating key players for more R&D in this field which will propel the overall market growth
Risdipalm (formerly RG 7916) and RG 6083 (Olesoxime) are amongst the few prospective therapies, in which Olesoxime has revealed very disappointing outcomes in a long term Phase-2 trial by Roche.
Numerous other products are in the clinical pipeline from companies like Cytokinetics, Novartis, Voyager Therapeutics, and BioBlast Pharma.
Additionally, a rise in disposable income, a surge in healthcare expenditure in developing economies, initiatives by numerous government and private organizations to spread alertness about rare diseases such as SMA, and awareness about its treatment is estimated to drive the market.
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However, high cost accompanying the whole treatment might be the biggest hindrance towards the growth of the overall spinal muscular atrophy treatment market.
This report also provides the existing competitive scenario of some of the key players of the spinal muscular atrophy treatment market which includes company profiling of Novartis AG (SWX: NOVN), Pfizer, Inc. (NYSE: PFE), F. Hoffmann-La Roche Ltd (SWX: RO), Biogen (NASDAQ: BIIB), PTC Therapeutics (NASDAQ: PTCT), Voyager Therapeutics, Inc (NASDAQ: VYGR), Astellas Pharma Inc. (TYO: 4503), CYTOKINETICS, INC. (NASDAQ: CYTK), Ionis Pharmaceuticals, Inc. (NASDAQ: IONS), Regeneron Pharmaceuticals, Inc (NASDAQ: REGN). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials, and recent news and developments. On the whole, the report depicts a detailed overview of the spinal muscular atrophy treatment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities, and other stakeholders to align their market-centric strategies according to the ongoing and expected trends in the future.
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