The global spinal muscular atrophy (SMA) treatment market size is expected to reach USD 3.9 billion by 2025
Spinal Muscular Atrophy (SMA) Treatment Market Size, Share & Trends Analysis Report By Route of Administration (Oral, Intrathecal), By Treatment (Gene Therapy, Drug), By Disease Type, And Segment Forecasts, 2018 - 2025
LONDON, Nov. 26, 2018 /PRNewswire/ --
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The global spinal muscular atrophy (SMA) treatment market size is expected to reach USD 3.9 billion by 2025, according to a new report by Grand View Research, Inc. It is estimated to register a CAGR of 12.9% during the forecast period. Due to the rare nature and complexity of these diseases, scientific knowledge pertaining to them is scarce. However, there are various initiatives undertaken to increase awareness regarding rare diseases and to support SMA communities. This is anticipated to boost the market development over the coming years.
Various SMA communities and companies have collaborated for developing disease treatment therapy.For example, RG7916, which is an investigational therapy being developed by Roche in collaboration with SMA Foundation and PTC Therapeutics.
Thus, heavy investments in R&D by major companies are also projected to contribute toward the growth of this market. CureSMA, SMA Foundation, and SMA Europe are some of the organizations actively supporting R&D pertaining to SMA.
CureSMA provided funding to a research project to Biogen and Ionis Pharmaceuticals, Inc. for developing Spinraza, which received U.S. FDA approval in 2016. This organization has invested nearly USD 70 million in the research pertaining to SMA, which also included a planned investment of USD 5 million in the coming years.
Further key findings from the study suggest:
• The global spinal muscular atrophy treatment market is projected to expand at a CAGR of 12.9% over the forecast period
• Based on disease type, type 1 accounted for the largest revenue share owing to rising incidence of type 1 SMA
• By treatment, the drug segment accounted for the largest revenue share in 2017
• North America will retain its lead as the largest regional market; however Asia Pacific is anticipated to register the fastest CAGR over the forecast period
• The market is presently led by Biogen Inc. Biogen's Spinraza is the only approved commercialized treatment for SMA, owing to which market is not competitive. However, this trend is expected to change after the commercialization of other treatment therapies post 2020
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