According to Coherent Market Insights, the global spinal muscular atrophy market size is estimated to be valued at USD 2,013.5 million in 2024 and is expected to surpass USD 4,823.9 million by 2031, growing at a CAGR of 13.3% from 2024 to 2031.
Growing number
of approvals for drugs such as Zolgensma and Evrysdi also boost the market
growth. In 2020, the U.S. FDA approved Evrysdi to treat spinal muscular atrophy
in adults and children 2 months and older. Rising awareness regarding new
treatment options also contributes to the market growth.
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Market Trends
Growing number
of gene therapies is a key trend driving market growth. In 2019, Novartis’
Zolgensma became first gene therapy approved by the U.S. FDA for treating
pediatric patients under two years old with spinal muscular atrophy (SMA).
Another trend
gaining traction is launch of patient assistance programs by pharmaceutical
manufacturers. AveXis launched Zolgensma gene treatment. Zolgensma aids
insurance verification and financial assistance for eligible patients.
Spinal Muscular Atrophy Market Report
Coverage
Report
Coverage Details Market
Revenue in 2024 $2,013.5
million Estimated
Value by 2031 $4,823.9
million Growth
Rate Poised
to grow at a CAGR of 13.3% Historical
Data 2019–2023 Forecast
Period 2024–2031 Forecast
Units Value
(USD Million/Billion) Report
Coverage Revenue
Forecast, Competitive Landscape, Growth Factors, and Trends Segments
Covered By
Type, By Treatment, By Age Group, By Route of Administration, By Distribution
Channel Geographies
Covered North
America, Europe, Asia Pacific, and Rest of World Growth
Drivers •
Increasing prevalence of spinal muscular atrophy •
Increasing research and development activities •
Increased product launches Restraints
& Challenges •
High cost of the treatment
Market
Opportunities
Gene therapy is
expected to dominate the spinal muscular atrophy market. This is due to
one-time treatment and long-term benefits of gene therapy.
Disease-modifying
drugs like Spinraza and Evrysdi dominate the SMA treatment market. Spinraza was
the first drug approved for SMA. It has proven to prolong survival rates and
motor functions. Evrysdi provides an oral alternative and offers comparable
efficacy, making it a preferred option.
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Key Market
Takeaways
The global
spinal muscular atrophy market is anticipated to witness a CAGR of 13.3% during
the forecast period 2024-2031. This is owing to increasing research efforts
towards the development of gene therapies and disease-modifying drugs.
On the basis of
type, Type I segment is expected to hold a dominant position. This is owing to
high mortality and morbidity rates associated with this type. Type I SMA
accounts for around 60% of total SMA cases.
On the basis of
treatment, Gene therapy segment is expected to hold a dominant position over
the forecast period. This due to its one-time curative approach and long-term
benefits.
On the basis of
age group, Infant segment dominates the market. This is due to high diagnosis
rates in newborns through screening programs.
On the basis of
route of administration, Oral segment is expected to hold a dominant position.
This is owing to patient preference for oral drugs over intrathecal injections.
On the basis of
distribution channel, Hospital pharmacies segment holds the major share. This
is due to a large patient pool.
By Region, North
America is expected to hold a dominant position over the forecast period. This
is due to established healthcare infrastructure and high treatment rates.
Competitor
Insights - Biogen - XYROKINETICS - F. Hoffmann-La
Roche Ltd. - Genentech,
Inc. - PTC Therapeutics,
Inc. - Novartis AG - Ionis
Pharmaceuticals - Chugai
Pharmaceutical Co., Ltd. - NMD PHARMA A/S - Astellas
Pharma Inc.
Recent
Developments
In June 2023,
Biogen Inc. announced new data on SPINRAZA (nusinersen) for spinal muscular atrophy
at the Cure SMA Research & Clinical Care Meeting in Orlando, Florida.
In August 2020, the
U.S. FDA approved Evrysdi. It is the first at-home orally administered
treatment for spinal muscular atrophy. PTC Thearpeutics, Genentech, and Roche
co-developed it.
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Detailed Segmentation: By Type:
By Treatment:
By Age Group:
By Route of Administration:
By Distribution Channel:
By Region: About Us:
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