SMA Treatment Market to Reach USD 14.49 Billion by 2026

The global spinal muscular atrophy (SMA) treatment market size is expected to reach USD 14.49 billion by 2026, exhibiting a CAGR of 28.9% during the forecast period. The rising prevalence of rare diseases around the world will fuel demand for SMA treatment in the forthcoming years, which in turn will aid the growth of the market. As per the National Policy for the treatment of rare diseases, globally, around 6000 to 8000 rare diseases are estimated to exist with new rare diseases reported on a regular basis. Furthermore, 80% of all the rare diseases are genetically originated and therefore impact children inexplicably. The survey also revealed that 50% of new cases are in children and are responsible for 35% of deaths before the age of 1 year, 10% between the ages of 1 and 5 years and 12% between 5 and 15 years. Nonetheless, "the growing initiatives by government authorities for pre-diagnosis will impact the spinal muscular atrophy (SMA) treatment market share positively during the forecast period", predicts our lead analysts at Fortune Business Insights.

Market Driver:

R&D Initiatives by Key Players to Spur Sales Opportunities

The surge in research and development activities for the improvement of therapies and treatment options by key players will aid the spinal muscular atrophy (SMA) treatment market growth during the forecast period. Various drug pipeline for advanced stages of clinical trials by major pharmaceutical companies will augment the healthy growth of the market. For instance, Genentech/Roche’s pipeline candidate of Risdiplam, which recently received a priority review from the FDA and is expected to receive a decision on approval from the FDA by May 2020. Furthermore, the growing initiatives for pre-diagnosis and positive reimbursement policies will boost the spinal muscular atrophy (SMA) treatment market trends in the foreseeable future. Moreover, the growing awareness regarding pivotal treatment options will create new opportunities for the market.

For More Information: https://www.fortunebusinessinsights.com/industry-reports/spinal-muscular-atrophy-treatment-market-100576

Market Restraint:

High Cost of Products to Impede Market Expansion

The cost-intensive products and high prices associated with the rare disease therapies will subsequently obstruct the growth of the market. For instance, spinraza is expected to cost US$ 750,000 for the first year and will be repriced at US$ 375,000 after that. Apart from that, Novartis rare gene therapy, Zolgensma will come at a price of US$ 2.1 million for a one-time treatment. The expensive cost of therapies will restrict the adoption of treatment for many patients, which in turn will act as a restraint for the spinal muscular atrophy (SMA) treatment market revenue.

Regional Insight:

Presence of Major Players to Influence Growth in North America

The market in North America stood at USD 854 million in 2018 and is likely to remain dominant during the forecast period. The growth in the region is attributed to the presence of prominent players in the region. The growing awareness regarding the prevalence of rare disease and pre-treatment initiatives will bolster accelerate the spinal muscular atrophy (SMA) treatment market growth in North America.

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Saurabh is presently working as a content writer at Fortune Business Insights. His key focus is to deliver quality content to his audience.