The 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 (SMA) is a genetic disease that affects motor neurons in the spinal cord. It causes muscles to become weak and waste away. The signs and symptoms of SMA range from mild to severe depending on the type of SMA. The market includes drugs for treating SMA such as Nusinersen, Onasemnogene abeparvovec, Risdiplam and others.

Market Dynamics:
The spinal muscular atrophy market growth is majorly driven by the rising prevalence of spinal muscular atrophy disease globally. According to Cure SMA, approximately 1 in every 11,000 live births are affected by SMA. In addition, genetic predisposition, presence of survival motor neuron proteins malfunctioning and deficiency also contributes to the spinal muscular atrophy cases. Another major driver is ongoing clinical trials and pipeline drugs for better treatment management. Developers are identifying novel mechanisms to stop or slow the progression of the disease. For instance, Biogen's tofersen is reducing SMN2 mRNA levels and thus increasing functional SMN protein levels in people with SMA.

SWOT Analysis
Strength: Spinal Muscular Atrophy Market has a strong product pipeline with several drugs under various stages of clinical trials. The increasing research and development activities are expected to drive the market growth over the forecast period. Availability of generic drugs at lower costs makes treatment affordable for customers.

Weakness: High treatment cost associated with SMA therapy limits its adoption. Requirement of life long treatment and follow ups increases compliance issues.

Opportunity: Rising healthcare expenditure in emerging economies generates demand for advanced treatment options. Growing government support through funding and awareness campaigns offer lucrative scope.

Threats: Stringent regulatory approvals for new drugs delays product launch. Risk of side effects and resistance development with long term use challenges market saturation.

Key Takeaways:

The global Spinal Muscular Atrophy Market Growth is expected to witness high growth, exhibiting CAGR of 13.% over the forecast period, due to increasing prevalence of genetic diseases. Rising discretionary income increases affordability for advanced treatment worldwide.

Regional analysis North America dominates the global market and accounts for majority market share. Favorable reimbursement policies, healthcare infrastructure and presence of key industry players drives the large market size. Asia Pacific exhibits fastest growth due to growing patient pool, medical tourism and expansion of healthcare facilities in emerging countries.

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. Players adopt organic and inorganic strategies such as new product launches, partnerships and acquisitions to sustain market competition and increase revenue share.

For more insights, read- https://cmiinfopiece.blogspot.com/2023/12/gene-therapy-for-spinal-muscular.html