According to a research report by Stratview Research, the Spinal Muscular Atrophy Medicine Market is projected to grow from USD 980.6 million in 2020 to USD 2,085.4 million by 2026 at a CAGR of over 13.4% during the forecast period.
Segments’ Analysis
Stratview Research has segmented the “Spinal Muscular Atrophy Medicine Market” by Disease Type (Type 1, Type 2, Type 3, Type 4), By Treatment (Gene therapy, Drug [Spinraza, RG7916, RG6083 (Olesoxime)]), By Route of Administration (Oral, Intrathecal), and Region (North America, Europe, Asia-Pacific, and Rest of the World).
By treatment, the spinal muscular atrophy medicine market has been segmented into gene therapy and drug. Under these, the drug segment garnered the highest market share in 2020 and is likely to register a substantial CAGR during the review period. The SMA Foundation financed more than USD 60 Mn in drug development programs and essential drug discovery assets in 2015 that aimed at developing an effective SMA therapy. Also, Spinraza is the only medicinal drug approved for the treatment of SMA to date, further propelling the segment growth.
By region, North America accounted for the highest market share in 2020 and is estimated to grow at a steady CAGR during the assessment period.
- This is mainly ascribed to growing healthcare expenditure, high disposable income, improving standards of living with large population growth and the rise in the adoption of Spinraza, which boosts the regional growth.
- Also, there is an increase in the number of initiatives undertaken by private companies and NGOs to spread awareness and support R&D activities for the treatment SMA.
Research Methodology
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
Leading Players Covered in the Spinal Muscular Atrophy Medicine Market Report:
The following are the key players in the Spinal Muscular Atrophy Medicine Market –
- Biogen (The U.S),
- Ionis Pharmaceuticals, Inc. (The U.S),
- F. Hoffmann – La Roche Ltd (Switzerland),
- Avexis, Inc. (The U.S),
- Novartis AG (Switzerland),
- Cytokinetics, Inc. (The U.S),
- Pfizer Inc. (The U.S),
- Boehringer Ingelheim International GmbH (Germany),
- Regeneron Pharmaceuticals, Inc (The U.S), and
- Abbott (The U.S).
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