Gene Therapy For Spinal Muscular Atrophy Is The Fastest Growing Segment Fueling The Growth Of Spinal Muscular Atrophy Market

 Spinal Muscular Atrophy Market

The global Spinal Muscular Atrophy Market is estimated to be valued at US$ 1813.48 Mn in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Spinal muscular atrophy is a genetic disease that destroys motor neurons in the spinal cord and causes muscle wasting and weakness. Spinal muscular atrophy therapeutics focus on addressing the underlying genetic defect by increasing the levels of the survival motor neuron (SMN) protein in motor neurons. Growing diagnosis, increasing awareness about the genetic disease, emergence of gene therapies, and presence of strong pipeline drugs are major factors driving growth of the spinal muscular atrophy market.

Market key trends:
Gene therapy has emerged as one of the most promising therapeutic area for spinal muscular atrophy. Zolgensma, developed by Novartis, is the first one-time gene therapy approved for the treatment of spinal muscular atrophy. It delivers a functional copy of the SMN gene directly into motor neurons. Another key gene therapy under development is AGTC’s TG-301, which uses an AAVrh74 vector to deliver a copy of the SMN gene to the central nervous system. Emergence of novel gene therapies with a one-time administration and long-term efficacy is expected to fuel future growth of the spinal muscular atrophy market during the forecast period.
Segment Analysis
The global spinal muscular atrophy market is segmented into type and treatment. By type, the market is classified into type 1, type 2, type 3, and type 4. Among these, the type 2 segment dominated the market in 2023 owing to its high prevalence. Type 2 SMA is less severe than type 1 SMA but still results in significant disabilities. By treatment, the market is bifurcated into drugs and supportive care. The drugs segment captured largest share of the market in 2023 due to recent drug approvals for SMA that have shown promising results.

Key Takeaways
The global Spinal Muscular Atrophy Market Growth size was valued at US$ 1,813.48 million in 2023 and is expected to witness high growth, exhibiting a CAGR of 13% over the forecast period. The growth of the market is driven by increase in SMA prevalence, rising awareness about SMA, and launch of new treatment options.

Regionally, North America dominated the global market in 2023 due to high adoption of innovative drugs for SMA treatment in the region. Europe held the second largest share due to government support for orphan drug development. Asia Pacific is expected to exhibit fastest growth during the forecast period owing to rising healthcare spending and increasing patient population in countries like China and India.

Key players operating in the spinal muscular atrophy market are Biogen, CYTOKINETICS, F. Hoffmann-La Roche Ltd, Genentech, Inc., PTC Therapeutics, Inc., Novartis AG, Ionis Pharmaceuticals, Chugai Pharmaceutical Co., Ltd., NMD PHARMA A/S, and Astellas Pharma Inc. These companies are focusing on expanding their product portfolios by launching new drugs in collaboration with other players.

For more insights, read- https://www.ukwebwire.com/spinal-muscular-atrophy-market-trends-size-and-share-analysis/