Spinal Muscular Atrophy Treatment Market Expected to Reach $8.4 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Spinal Muscular Atrophy Treatment Market," The spinal muscular atrophy treatment market was valued at $4.3 billion in 2022, and is estimated to reach $8.4 billion by 2032, growing at a CAGR of 6.8% from 2023 to 2032.

Increase in prevalence of spinal muscular atrophy and rise in pipeline drugs are the major drivers of this market. For instance, Ionis Pharmaceuticals (ION306), NMD PHARMA A/S (NMD670), and Hanugen Theraputics (Antisense) are companies involved in developing products for the treatment of spinal muscular atrophy (SMA). These pipeline products have the potential to contribute to the market growth in SMA treatment. In addition, significant progress has been made in understanding the genetic basis and underlying mechanisms of SMA. This led to the development of targeted therapies and gene replacement therapies, such as Spinraza (nusinersen) and Zolgensma (onasemnogene abeparvovec) that supports the spinal muscular atrophy treatment industry.

Furthermore, innovative drugs for the treatment of spinal muscular atrophy, key strategies adopted by key players, and increase in awareness regarding treatment of spinal muscular atrophy fuels the market growth. For instance, in June 2022, PTC Therapeutics, Inc. announced that the U.S. Food and Drug Administration (FDA) has approved Evrysdi (risdiplam), the first at-home, orally administered treatment for spinal muscular atrophy (SMA) in adults and children 2 months and older.

Moreover, rise in demand for effective treatments for spinal muscular atrophy, pharmaceutical companies are investing more in R&D activities to create new drugs and improve existing ones further support the market growth and are also the spinal muscular atrophy treatment market trends. Moreover, rise in awareness of early diagnosis and treatment for spinal muscular atrophy and increase in acceptability of spinal muscular atrophy treatment by medical practitioners contributes toward the growth of the spinal muscular atrophy treatment market forecast.

Depending on type, the spinal muscular atrophy treatment market size is classified into type 1, type 2, and others. The type 1 segment dominated largest share in 2022 and also exhibited the highest growth during the forecast period. This is attributed to surge in population with type 1 SMA led to rise the demand for SMA drugs to treat this type of disease.

Depending on the route of administration, the spinal muscular atrophy treatment market size is segmented into oral and parenteral. The parenteral segment dominated largest share in 2022. This was attributed to the adoption of parenteral medications as they provide greater efficacy and immediate therapeutic effect of parenteral treatments, as compared to other administration routes, and shows rapid absorption of the therapeutic agents.

However, oral segment is expected to witness the highest CAGR during the forecast period, owing to rise in demand for oral medications as they offer a convenient mode of administration for patients compared to other forms of treatment, such as intravenous or intrathecal injections. In addition, the ease of oral administration improves patient compliance and reduces the burden associated with frequent medical visits that drive the segment growth. Depending on the end user, the spinal muscular atrophy treatment market analysis is classified into hospitals and others. The hospitals segment dominated the spinal muscular atrophy treatment market share in 2022 and is expected to remain dominant during the forecast period, owing to availability of trained medical staff in hospitals that helps to provide better services to patients, and increase patient admissions in hospitals for the treatment of spinal muscular atrophy.

However, others segment is expected to witness the highest CAGR during the forecast period, owing to rise in demand for SMA medications in specialty clinics and home care setting due to rise in cases of spinal muscular atrophy and availability of SMA treatment at homecare settings.

Region wise, North America held the largest spinal muscular atrophy treatment market share in the global spinal muscular atrophy treatment market in 2022, owing to early detection of the disease, ease of drug availability, and higher adoption of therapeutics. In addition, higher health awareness about diagnosis and treatment, and adoption of SMA drugs drive the market growth in this region.

However, Asia-Pacific is anticipated to register the highest CAGR 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. In addition, growing availability of therapeutics that can treat SMA in emerging economies is anticipated to offer lucrative spinal muscular atrophy treatment market opportunity for the market expansion.

Key findings of the study

• By type, the type 1 segment was largest contributor to the spinal muscular atrophy treatment industry in 2022.
• By route of administration, the parenteral segment dominated the market in 2022.
• By end user the hospitals segment dominated the market in 2022. However, the others segment is anticipated to grow at the highest CAGR during the forecast period.
• Region wise, North America generated the highest revenue in 2022. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.