Spinal Muscular Atrophy (SMA) Treatment Market Growth Insights 2022
The global spinal muscular atrophy (sma) treatment market size was valued at USD 2.22 billion in 2021 and is poised to grow at a significant CAGR of 28.9% during the forecast period 2022-28. SMA (spinal muscular atrophy) is a category of hereditary illnesses that causes muscle degradation and compromises muscle function. It usually causes weakness and might even result in death. Motor neurons in the brain and spinal cord are affected by SMA. These motor neurons transmit electric and chemical impulses to and from voluntary muscles in the body, allowing for a variety of physical tasks such as walking, crawling, swallowing, and so on. SMA is caused by genetic problems (mutation or deletion). SMA is classified as type I, type II, type III, or type IV based on the causes and symptoms that are noticed. SMA is treated by gene replacement surgery or therapy, as well as medications that raise the levels of the survival motor neuron (SMN) protein. Because of the rising prevalence of spinal muscular atrophy, the market for SMA treatments is rapidly expanding.
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The global spinal muscular atrophy treatment market segmentation:
1) By Treatment: Gene Therapy, Drug Therapy
2) Route of Administration: Oral, Intrathecal
3) Disease Type: Type 1, Type 2, Type 3, Type 4.
The rising prevalence of SMA is one of the primary reasons driving the global SMA therapy market. Furthermore, the worldwide SMA treatment market is being driven by factors such as increased awareness, technological improvements, government initiatives, and an improvement in the reimbursement scenario. However, the market will be hampered by high treatment prices and a scarcity of skilled practitioners. Furthermore, the industry is constrained by a low acceptance rate of SMA treatment choices. The global SMA treatment industry is predicted to benefit from the growing population and economy of developing nations such as India and China. The global SMA therapy market is projected to benefit from the development of more efficient products. Some of the most recent developments in the worldwide SMA treatment market include an increase in acquisitions and mergers, new product releases, and increased collaborations as well as partnerships.
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Due to the increased proportion of SMA and the rising use of SMA treatment options in the region, North America dominates the global market for SMA treatment. SMA treatment in North America is also being driven by technical breakthroughs in the area. The SMA therapy industry is predicted to increase rapidly in the next years, with Asia leading the way, followed by Europe. In the Asian region, China and India are predicted to be the fastest-growing SMA therapy markets. The following are some of the major factors propelling the SMA therapy market in developing countries: A vast number of patients, as well as increasing government activities such as funding and tight laws. In addition, the market in Asia is being driven by rising awareness of SMA diagnosis and treatment.
The global Spinal Muscular Atrophy (SMA) Treatment Market key players are Biogen, Ionis Pharmaceuticals, Inc., Hoffmann – La Roche Ltd, Avexis, Inc., Novartis AG, Cytokinetics, Inc., Voyager Therapeutics
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