Market Size of Global Spinal Muscular Atrophy Treatment Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 14.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Spinal Muscular Atrophy Treatment Market Analysis
The spinal muscular atrophy treatment market is expected to register a CAGR of 14.5% during the forecast period.
Due to strict lockdown measures and restricted movement of people, the COVID-19 virus outbreak has had a significant impact on the spinal muscular atrophy medicine industry. The unprecedented coronavirus outbreak (SARS-CoV-2) has cast a shadow over the SMA treatment industry. For instance, according to the article published in the National Institute of Health in May 2020, titled "Spinal muscular atrophy care in the COVID19 pandemic era," the delay in the SMA treatment during the pandemic affected the delivery of clinical care to patients with spinal muscular atrophy (SMA). Moreover, the amount of money available for the R&D and drug development for SMA has been decreasing, as the majority of the money has been spent on COVID-19 vaccine production.
The major factors accounting for the growth of the spinal muscular atrophy treatment market are growing awareness regarding SMA, its diagnosis and treatment, rise in the government initiatives to improve healthcare infrastructure, and increasing R&D activities to develop novel treatment regimens. For instance, in August 2020, the US Food and Drug Administration approved Evrysdi (risdiplam) to treat patients two months of age and older with spinal muscular atrophy (SMA), a rare and often fatal genetic disease affecting muscle strength and movement. This is the second drug and the first oral drug approved to treat this disease. Emerging treatment therapies in the treatment of SMA are driving the growth of the market during the forecast period.
However, the high cost of treatment and lack of skilled professionals for surgical procedures and physiotherapy regimens hampers the market to some extent.
