Spinal Muscular Atrophy Treatment Market to Attain USD 8.4 Billion by 2032: CAGR of 6.8% from 2024 to 2032
According to the report, the global spinal muscular atrophy treatment industry generated $4.3 billion in 2022, and is anticipated to generate $8.4 billion by 2032, witnessing a CAGR of 6.8% from 2023 to 2032.
Request Sample of the Report –
https://www.alliedmarketresearch.com/request-sample/107628
Prime determinants of growth
Increase in prevalence of spinal muscular atrophy, initiatives by government organizations, and increase in the demand for SMA drugs for the treatment of spinal muscular atrophy drive the growth of the global spinal muscular atrophy treatment market. However, the high cost of the SMA drugs is hampering the spinal muscular atrophy treatment market growth. On the contrary, the increase in R&D activities are expected to offer remunerative opportunities for expansion of the spinal muscular atrophy treatment market during the forecast period.
An increase in the prevalence of spinal muscular atrophy, a rise in pipeline drugs, key strategies adopted by key players, and an increase in awareness regarding the treatment of spinal muscular atrophy drives the spinal muscular atrophy treatment market growth.
Impact of COVID-19 on Spinal Muscular Atrophy Treatment Market:
Negative Impacts:
- Disrupted Access to Care: Lockdowns, fear of exposure to the virus, and prioritization of COVID-19 patients led to a decline in routine screenings and diagnostic procedures for SMA. This potentially delayed diagnoses and treatment initiation for some patients, potentially worsening their condition.
- Supply Chain and Logistics Challenges: Global disruptions in raw materials and components affected the production and distribution of some SMA treatment medications, such as nusinersen. This led to temporary shortages and concerns about access for patients on established treatment plans.
- Mental Health Burden: The pandemic-induced stress and anxiety negatively impacted the mental health of SMA patients and families, potentially affecting their adherence to treatment protocols and overall well-being.
Positive Impacts:
- Increased Telemedicine Adoption: The pandemic accelerated the adoption of telemedicine in healthcare, enabling remote consultations and follow-up care for SMA patients. This improved access to care for those unable to visit clinics in person and potentially reduced their risk of exposure to the virus.
- Focus on Home-Based Care: The need for social distancing and reducing hospital visits during the pandemic spurred the development of home-based SMA care models. This improved patient convenience and may offer a viable alternative for specific treatment components in the future.
- Research and Development Focus: Research on SMA therapeutics continued at a rapid pace during the pandemic, with potential new treatment options like gene therapy and gene editing entering clinical trials. These advancements hold promise for further improving outcomes for SMA patients.
Request for Customization –
https://www.alliedmarketresearch.com/request-for-customization/107628
Key Market Segments:
| By Type |
|
| By Route of Administration |
|
| By End User |
|
| By Region |
|
For Purchase Inquiry –
https://www.alliedmarketresearch.com/purchase-enquiry/107628
Regional Analysis:
Based on region, North America held the largest market share in terms of revenue in 2022, accounting for nearly two-fifths of the global spinal muscular atrophy treatment market revenue, owing to robust healthcare infrastructure, availability of approved spinal muscular atrophy drugs and high healthcare expenditures. However, the Asia-Pacific region is expected to witness the fastest CAGR of 7.7% from 2023 to 2032 and is likely to dominate the market during the forecast period, owing to an increase in awareness of spinal muscular atrophy, and a rise in number of people affected with spinal muscular atrophy.
Leading Market Players: –
- Biogen
- Cytokinetics
- Hanugen Theraputics
- NMD Phrama A/S
- Novartis AG
- F. Hoffmann-La Roche Ltd.
- Pfizer Inc.
- Scholar Rock Holding Corporation
- Beijing Jinlan Gene Technology Co., Ltd.
Other Trending Reports in Life Science Domain-
Chlorpheniramine Maleate Market:
https://www.alliedmarketresearch.com/chlorpheniramine-maleate-market
Penicillin Drug Market:
https://www.alliedmarketresearch.com/penicillin-drug-market-A110795
Radiology Information System Market:
https://www.alliedmarketresearch.com/radiology-information-systems-market
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Contact Us:
David Correa
Portland, OR, United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022,
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
Editor Details
-
Company:
- The Wire Times
