Spinal Muscular Atrophy Treatment Market Trends

  • Report ID: 2724
  • Published Date: Oct 23, 2024
  • Report Format: PDF, PPT

Spinal Muscular Atrophy Treatment Market Trends

Growth Drivers

  • Increased government support for rare disease treatments: More than 7,000 rare diseases affect more than 30 million people in the U.S. Support from the government for rare disease treatments, including SMA, is acting as a significant driver for the spinal muscular atrophy treatment market. Governments in many countries are offering incentives such as grants, tax credits, and funding for R&D to encourage the development of therapies for rare diseases. For instance, in April 2024, the Canadian Institutes of Health Research Rare Disease Research Initiative provided UBC Faculty of Medicine researchers with USD 20 million in federal funding, for creating RareKids-CAN: Pediatric Rare Disease Clinical Trials and Treatment Network.
  • Rise in rate of diagnosis of SMA in infants and children: This is a crucial spinal muscular atrophy treatment market driver due to the implementation of newborn screening programs and technological advancements. Many countries have begun including SMA in their routine newborn screening, allowing for earlier detection and intervention. The Australian Government Department of Health and Aged Care published an article in October 2023 related to SMA therapies. It states that the Albanese Government offers families extended access to life-changing gene therapy for SMA through the Pharmaceutical Benefits Scheme (PBS).

Challenges

  • The low success rate in clinical trials: Developing novel therapies for SMA often involves complete biological processes, particularly in gene and RNA-based therapies, where achieving consistent efficacy can be difficult. Many promising treatments fall in late-stage trials due to unexpected safety issues or insufficient therapeutic benefits. This further leads to significant financial losses and delays in bringing new treatments to market. This not only discourages smaller firms but also increases the overall cost and timeline for drug development. 
  • Stringent regulatory approval for new therapies: This presents a considerable barrier in the SMA treatment market. Regulatory bodies such as the FDA and EMA impose rigorous standards to ensure the safety and efficacy of new treatments, particularly for advanced therapies. The complex approval process requires extensive clinical data, long-term studies, and post-marketing surveillance. These regulatory hurdles can also limit the market entry of innovative treatments, especially I countries with less flexible approval frameworks.

Spinal Muscular Atrophy Treatment Market: Key Insights

Base Year

2024

Forecast Year

2025-2037

CAGR

19.3%

Base Year Market Size (2024)

USD 8.9 billion

Forecast Year Market Size (2037)

USD 73.9 billion

Regional Scope

  • North America (U.S., and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, Malaysia, Australia, South Korea, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Author Credits:  Radhika Pawar


  • Report ID: 2724
  • Published Date: Oct 23, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of the spinal muscular atrophy treatment market was over USD 8.9 billion.

The market size for the spinal muscular atrophy treatment market is projected to reach USD 73.9 billion by the end of 2037 expanding at a CAGR of 19.3% during the forecast period i.e., between 2025-2037.

The major players in the market are American Physical Therapy Association, Astellas Pharma, Biogen Inc., and others.

In terms of route of administration segment, the oral segment is anticipated to garner the largest market share by 2037 and display lucrative growth opportunities during 2025-2037.

The market in North America is projected to hold the largest market share of 48.9% by the end of 2037 and provide more business opportunities in the future.
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