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Global Spinal Muscular Atrophy Treatment Market Report 2022: Increasing Reimbursement Access To Patients Bolsters Growth
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Dublin, Jan. 06, 2023 (GLOBE NEWSWIRE) -- The "Global Spinal Muscular Atrophy Treatment Market Size, Share & Industry Trends Analysis Report By Type (Type 1, Type 2, Type 3 and Type 4), By Route of Administration, By Treatment Type (Drug and Gene Therapy), By Drug Type, By Regional Outlook and Forecast, 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.
The Global Spinal Muscular Atrophy Treatment Market size is expected to reach $11.4 billion by 2028, rising at a market growth of 17.8% CAGR during the forecast period.
Market Growth Factors
Growing R&D Activities for Spinal Muscular Atrophy Treatments
The prevalence and knowledge of spinal muscular atrophy have significantly increased, which is driving the demand for effective therapy options that improve patient outcomes. There have been two significant product introductions in the field of gene therapy recently. For a very long time, there was no cure for the rare condition spinal muscular atrophy, which frequently resulted in newborns and young children dying.
Increasing Reimbursement Access To Patients
One of the major trends in spinal muscular atrophy (SMA) is expanding the opportunity for the reimbursement of costly medications globally in several countries. This is predicted to have a favorable impact on the uptake of costly gene therapies. France, Germany, Austria, and Italy are a few of the nations that have given all patients access to services that are reimbursed, and Israel and Hong Kong have done the same.
Type Outlook
Based on type, the spinal muscular atrophy treatment market is categorized into type 1, type 2, type 3, and type 4. The Type 1 segment garnered the highest revenue share in the spinal muscular atrophy treatment market in 2021. The significant prevalence rate is responsible for this growth. About half of all newborn infants with SMA have this kind of SMA, making it more widespread. A number of treatments, notably Zolgensma (onasemnogene abeparvovec-xioi), have received FDA approval for the treatment of type-1 patients.
Treatment Type Outlook
On the basis of treatment type, the spinal muscular atrophy treatment market is divided into gene therapy and drug. The drug segment acquired the largest revenue share in the spinal muscular atrophy treatment market in 2021. The segment is expanding because of the low cost of drug research and development as well as the simplicity of access relative to other treatments. Presently, three major FDA-approved drugs for the treatment of SMA are available on the market.
Route Of Administration Outlook
On the basis of route of administration, the spinal muscular atrophy treatment market is classified into oral and injection. The oral segment recorded a substantial revenue share in the spinal muscular atrophy treatment market in 2021. This is due to benefits like non-invasiveness, simplicity of pain avoidance, digestion, adaptability, and fewer side effects as opposed to other methods of administration methods that are linked with it.
Regional Outlook
Based on region, the spinal muscular atrophy treatment market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America segment procured the largest revenue share in the spinal muscular atrophy treatment market in 2021. The key drivers of the region's domination are the increasing incidence of SMA conditions and rising spending on treatment supplies. For instance, between 10,000 and 25,000 youngsters and adults reside in the United States who have SMA.
Key Market Players
List of Companies Profiled in the Report:
Biogen, Inc.
Novartis AG
Ionis Pharmaceuticals, Inc.
PTC Therapeutics, Inc.
NMD Pharma A/S
Scholar Rock, Inc. (Scholar Rock Holding Corporation)
Cytokinetics, Inc.
Biohaven Pharmaceutical Holding Company Ltd. (Pfizer, Inc.)
Astellas Pharma, Inc.
F.Hoffmann-La Roche Ltd. (Genentech, Inc.)
Key Topics Covered:
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Strategies Deployed in Spinal Muscular Atrophy Market
Chapter 4. Global Spinal Muscular Atrophy Treatment Market by Type
Chapter 5. Global Spinal Muscular Atrophy Treatment Market by Route of Administration
Chapter 6. Global Spinal Muscular Atrophy Treatment Market by Treatment Type
Chapter 7. Global Spinal Muscular Atrophy Treatment Market by Region
Chapter 8. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/nfo4hm
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