The Global Spinal Muscular Atrophy Market Growth Accelerated By Rising Adoption Of Gene Therapy
Spinal muscular atrophy (SMA) is a genetic neuromuscular disease that attacks the motor neurons associated with muscles used for activities like crawling, walking, head and neck control, and swallowing. Gene therapy is emerging as a promising approach to treat SMA by delivering a functional copy of the SMN1 gene to produce more SMN protein.
The global Spinal Muscular Atrophy Market is estimated to be valued at US$ 2089.13 Bn in 2024 and is expected to exhibit a CAGR of 7.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Gene therapy involves replacing a mutated gene or adding a new gene to help treat or prevent SMA. In December 2019, Zolgensma was approved by the FDA as the first gene therapy for pediatric patients with SMA. It delivers a functional SMN gene via an adeno-associated virus (AAV) vector to halt disease progression. Since its approval, Zolgensma has gained significant popularity owing to its one-time administration and superior efficacy over other SMA drugs. Increasing research activities focused on developing advanced gene therapies with durable effects are further expected to boost the adoption of gene therapy and fuel market expansion over the forecast period.
Segment Analysis
The global spinal muscular atrophy market is dominated by type I segment which accounts for over 40% of the market share. Type I SMA is the most severe form of the disease and starts within the first 6 months of life. As there is no approved treatment available for this type, it leads to mortality in children if left untreated.
Key Takeaways
The global spinal muscular atrophy market is expected to witness high growth over the forecast period. Growing research on disease modifying drugs and new treatment approvals are supporting the market growth. The global Spinal Muscular Atrophy Market is estimated to be valued at US$ 2089.13 Bn in 2024 and is expected to exhibit a CAGR of 7.8% over the forecast period 2024 to 2031.
Regional analysis
North America is currently the dominant region in the global spinal muscular atrophy market share owing to increasing research activities for developing novel therapies. Moreover, presence of major pharmaceutical companies and availability of advanced healthcare infrastructure are also boosting the regional market growth. Asia Pacific is expected to be the fastest growing market due to rising patient population and growing medical tourism in countries like India.
Key players
Key players operating in the spinal muscular atrophy market are Samsung Electronics, Daktronics, Exceptional 3D, LG Electronics, Panasonic Corporation, Sony Corporation, Leyard Optoelectronic Co., Ltd., Scala, E Ink Holdings Inc., Deepsky Corporation Ltd., Intel Corporation, and Microsoft Corporation. Major players are focused on developing gene replacement therapies to treat all SMA subtypes.
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