Spinal Muscular Atrophy Treatment Market To Hit Value .9 Billion By 2025Posted by Mrudula Anil Karmarkar on April 1st, 2021 The global spinal muscular atrophy (SMA) treatment market size is expected to reach USD 3.9 billion by 2025, according to a new report by Grand View Research, Inc. It is estimated to register a CAGR of 12.9% during the forecast period. Due to the rare nature and complexity of these diseases, scientific knowledge pertaining to them is scarce. However, there are various initiatives undertaken to increase awareness regarding rare diseases and to support SMA communities. This is anticipated to boost market development over the coming years. Multiple therapeutic regimens are being followed across the globe in attempts to come up with a reliable treatment for Covid-19. One line of treatment includes the use of hydroxychloroquine, while a second treatment line focuses to use antiviral drugs used in the disease management of HIV. Both these approaches have surged demand from advanced antivirals and antimalarial drugs. This impacts the drug manufacturers as an off label indication for these drug classes has to be worked upon. At the moment, the WHO has not prescribed any of these approaches, neither they have commented if one is better than the other. The report will account for Covid19 as a key market contributor. Various SMA communities and companies have collaborated for developing disease treatment therapy. For example, RG7916, which is an investigational therapy being developed by Roche in collaboration with SMA Foundation and PTC Therapeutics. Thus, heavy investments in R&D by major companies are also projected to contribute to the growth of this market. CureSMA, SMA Foundation, and SMA Europe are some of the organizations actively supporting R&D pertaining to SMA. CureSMA provided funding to a research project to Biogen and Ionis Pharmaceuticals, Inc. for developing Spinraza, which received U.S. FDA approval in 2016. This organization has invested nearly USD 70 million in the research pertaining to SMA, which also included a planned investment of USD 5 million in the coming years. In 2017, the U.S. FDA granted an orphan drug license to RG7916, a joint development program by Roche, SMA Foundation, and PTC Therapeutics for the treatment of SMA. Similarly, the Orphan Drug Designation was also granted to Cytokinetics’ CK-2127107 by U.S. FDA in May 2017. This is expected to accelerate the number of clinical researches in this field, thereby propelling market growth. Further key findings from the study suggest:
Moreover, initiatives undertaken by various public, as well as nonprofit, organizations for creating awareness regarding SMA is another factor driving the market. In January 2018, the National Institute for Health and Care Excellence (NICE) invited Biogen to submit a single technology appraisal for Spinraza to enable NHS funding. NICE and NHS, U.K. are developing a managed access agreement for a long-term reimbursement plan for Biogen’s Spinraza. In addition, organizations, such as Cure SMA, SMA Foundation, and Muscular Dystrophy Association, are creating awareness about this disorder. Major companies are heavily investing in R & D for the development of a curative treatment. All these factors are also contributing to market growth. Research institutes are also focusing on the development of treatment therapy for this disorder. Some of the products in the clinical pipeline are AVXS-101, a gene therapy under clinical research developed by AveXis, Inc., and Roche Holding AG’s Olesoxime, an investigational therapy being developed for promoting the survivor of motor neurons. Several other products in the clinical pipeline are Ck-2127107 (Cytokinetics), Branaplam (Novartis), VY-SMN101 (Voyager Therapeutics), and Bbrm02 (BioBlast Pharma). Have a Query? Ask Our Expert: https://www.grandviewresearch.com/inquiry/4464/ibb The market is led by Biogen, Inc. Biogen’s Spinraza is the only approved commercialized treatment for this disorder. Thus, competitive rivalry for this market is extremely low. However, this trend will change with the commercialization of several products. For instance, the products of Roche and Avexis, Inc. are under phase 3 clinical study. These products are likely to be commercialized in the coming years and this is anticipated to increase competition. Grand View Research has segmented the global spinal muscular atrophy treatment market on the basis of disease type, treatment, route of administration: SMA Treatment Disease Type Outlook (Revenue, USD Million, 2015 - 2025)
SMA Treatment Outlook (Revenue, USD Million, 2015 - 2025)
o Spinraza o RG6083 (Olesoxime) o RG7916 SMA Treatment Route of Administration Outlook (Revenue, USD Million, 2015 - 2025)
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