According to this report, 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 13.4% during the forecast period.

Key Players

• 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).

Market Dynamics

Rising incidence and awareness of spinal muscular atrophy has surged significantly which is likely to spur the need for efficient therapeutic options, resulting in better patient outcomes.

• Growing awareness regarding SMA worldwide and a rising number of initiatives to enhance the treatment options for such rare diseases are some of the prime factors bolstering SMA medicine demand.
• Also, favorable initiatives undertaken by the government, public, and non-profit organizations for spreading awareness regarding SMA are further augmenting the market growth.
• However, the high cost associated with SMA treatment and medicines is likely to hinder the industry's growth.

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Segment Analysis

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 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 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 of SMA.

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