Spinal Muscular Atrophy Treatment Market to Exhibit a Spectacular CAGR of 28.9%
The global Spinal Muscular Atrophy 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 Treatment Market share positively during the forecast period”, predicts our lead analysts at Fortune Business Insights.
For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/spinal-muscular-atrophy-treatment-market-100576
According to the report, published by Fortune
Business Insights, titled “Spinal
Muscular Atrophy Treatment Market Size, Share and Global Trend By Product (Nusinersen
and Onasemnogen Abeparvovec), By Disease Type (Type 1 SMA, Type 2 SMA and
Others), By Distribution Channel (Hospital Pharmacies, Retail Pharmacies and
Others), and Geography Forecast till 2026” the market size
stood at USD 1.72 billion. The SMA Treatment Market
report executes a PESTEL study and SWOT analysis to reveal the stability,
restrictions, openings, and threats in the smart building market. Combined with
the market analysis capabilities and knowledge integration with the relevant
findings, the report has foretold the robust future growth of the SMA treatment
market, and all articulated with geographical and merchandise segments.
Moreover, it also shows different procedures and strategies, benefactors and
dealers working in the market, explores components convincing market
development, generation patterns, and following systems. Additionally, the
figures and topics covered in this report are both all-inclusive and reliable
for the readers.
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 Treatment Market revenue.
List of the Major Players Operating in the Global SMA Treatment
Market Include:
- Biogen
- Novartis AG
- Genentech, Inc./ F. Hoffmann-La
Roche Ltd
- Astellas Pharma Inc.
- Genzyme Corporation
- Others
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