Spinal Muscular Atrophy Treatment Market Worth $18.0 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO , Jan. 11, 2023 /PRNewswire/ -- The global spinal muscular atrophy treatment market size is expected to reach USD 18.0 billion by 2030, according to a new study by Grand View Research Inc. This is expected to expand at a CAGR of 18.6% from 2022 to 2030. This growth can be attributed to the increasing product approval and launches. For instance, in August 2020, the Food and Drug Administration approved Evrysdi (risdiplam) developed by Genentech, Inc., for the treatment of pediatric patients aged two months and older with spinal muscular atrophy (SMA).

Key Industry Insights & Findings from the report:

• By type, the type-1 segment held the largest market share in 2021 due to higher prevalence and wide availability of products for the treatment of patients with type-1 spinal muscular atrophy.
• By treatment, the gene therapy segment is expected to be the fastest growing segment over the forecast period due to increase market penetration. Zolgensma is the only approved gene therapy in 37 countries to treat patient with SMA.
• By drug, the Spinraza segment dominated the market in 2021 due to presence of supportive reimbursement policies and increasing awareness about products. Currently, Spinraza is applicable for full reimbursement in three European countries Italy, Norway, Netherlands.
• By route of administration, the injection segment dominated the market in 2021 due to high safety, efficacy, and tolerability associated with infusion drugs to SMA patients through this route of administration.
• Asia Pacific is expected to be the fastest growing region during the forecast period. The growth of region is attributable to the entry of new products into the region. For instance, in July 2021, F. Hoffmann-La Roche Ltd launched Evrysdi (risdiplam) for the treatment of patient with spinal muscular atrophy in India.

Read full market research report for more latest industry insights, "Spinal Muscular Atrophy Treatment Market Size, Share & Trends Analysis Report By Type (Type1, Type 2), By Treatment (Gene Therapy, Drug), By Drug (Spinraza, Zolgensma), By Route Of Administration, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Spinal Muscular Atrophy Treatment Market Growth & Trends

In addition, in May 2020, Novartis AG received conditional approval to its SMA candidate Zolgensma (onasemnogene abeparvovec) from the European Commission (EC) to treat patients with SMA. It is only approved gene therapy in Europe. In March 2021, PTC Therapeutics, Inc., received marketing approval for Evrysdi (risdiplam) from the EMA for the treatment of patient with type1, 2, and 3 spinal muscular atrophy. Thus, increasing number of product approvals is expected to drive the spinal muscular atrophy treatment market.

Novartis AG is supporting SMA patients by offering medicine at free of cost through global Managed Access Program (MAP). This program provides 100 doses of Zolgensma at free of charge to eligible SMA patients across continents including North America, South America, Asia, Australia, Europe, and Africa. Thus, presence of such supportive programs for Zolgensma strengthens promotional activities and also aid in generating revenue.

Global SMA newborn screening and easy access to diagnostic tools should be included in routine approach. This would ensure early diagnosis and timely access to treatment. For instance, in July 2021, a charlotte baby received a breakthrough gene therapy treatment for Spinal Muscular Atrophy (SMA) at UNC Medical Center in Chapel Hill, N.C., after diagnosis with spinal muscular atrophy through Early Check newborn screening program. Such screening programs are expected to boost early diagnosis and treatment of disease.

Moreover, there are several extensive research collaborations undertaken by pharmaceutical companies with research institutes for developing novel therapies for the treatment of spinal muscular atrophy patients. For instance, in March 2021, PTC Therapeutics, Inc., and The Spinal Muscular Atrophy Foundation entered into research collaboration to advance scientific research and developing new treatment to treat patients with SMA.

However, high costs associated with the treatment and low availability of participant for clinical trial purposes may restrain market growth over the forecast period. The high cost related to research and development of an orphan drug is a major factor of rising prices of product. For instance, the most commonly used drug Spinraza costs around USD 125,000 per injection and USD 750,000 annually. Furthermore, Zolgensma (AVXS-101) costs USD 2.1 million for one time treatment.

Spinal Muscular Atrophy Treatment Market Segmentation

Grand View Research has segmented the global spinal muscular atrophy treatment market based on type, application, technology, end-use, and region:

Spinal Muscular Atrophy Treatment Market - Type Outlook (Revenue, USD Million, 2018 - 2030)

• Type 1
• Type 2
• Type 3
• Type 4

Spinal Muscular Atrophy Treatment Market - Outlook (Revenue, USD Million, 2018 - 2030)

• Gene Therapy
• Drug

Spinal Muscular Atrophy Treatment Market - Drug Outlook (Revenue, USD Million, 2018 - 2030)

• Spinraza
• Zolgensma (AVXS-101)
• Evrysdi
• Others

Spinal Muscular Atrophy Treatment Market - Route of Administration Outlook (Revenue, USD Million, 2018 - 2030)

• Oral
• Injection

Spinal Muscular Atrophy Treatment Market - Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Asia Pacific
• Japan
• China
• India
• Australia
• South Korea
• Latin America
• Brazil
• Mexico
• Argentina
• MEA
• South Africa
• Saudi Arabia
• UAE

List of Key Players of Spinal Muscular Atrophy Treatment Market

• Biogen
• Novartis AG
• Ionis Pharmaceuticals Inc.
• Biohaven Pharmaceuticals
• F. Hoffmann-La Roche Ltd
• Cytokinetics
• Scholar Rock, Inc.
• PTC Therapeutics
• NMD PHARMA A/S

Check out more related studies published by Grand View Research:

• Duchenne Muscular Dystrophy (DMD) Drugs Market - The global duchenne muscular dystrophy (DMD) drugs market size is expected to reach USD 4.11 billion by 2023, according to a new report by Grand View Research, Inc., expanding at a CAGR of 41.3% during the forecast period. Several factors such as the emergence of mutation-specific therapies, growing target population, and favorable government initiatives are driving the market.
• Rare Diseases Treatment Market - The global rare diseases treatment market size is expected to reach USD 335.84 billion by 2030, according to a new study by Grand View Research Inc., expanding at a CAGR of 12.8% from 2022 to 2030. Increasing prevalence of rare diseases contributes to industry growth. According to the National Center for Advancing Translational Sciences (NCATS), over 30 million of the U.S. population is estimated to be affected by rare diseases in 2022. Increasing prevalence of people living with orphan diseases is anticipated to increase the sales and demand for orphan medicines over the forecast period.
• Hemophilia Market - The global hemophilia market size is expected to reach USD 18.1 billion by 2027, according to a new report by Grand View Research, Inc. It is anticipated to register a CAGR of 5.5% over the forecast period. Increasing awareness of early diagnosis and treatment coupled with supportive government policies is anticipated to boost market share over the forecast period.

Browse through Grand View Research's  Pharmaceuticals Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc

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