About this market
With the increase in development of new innovative therapies, there is a growing demand for spinal muscular atrophy treatment. The market is witnessing an increase in the development of new innovative therapies for the treatment of spinal muscular atrophy. For instance, two innovative new therapies for type 1 spinal muscular atrophy have proven to be highly effective in ongoing clinical trials. The first therapy employed a DNA-loaded virus to replace the missing SMN1 gene with a fresh copy of the gene. The second therapy, which has already been approved by the FDA, is called nusinersen (SPINRAZA). It promotes the production of the nerve protein by SMN2. These two therapies have improved the motor function in babies. AveXis in 2018, entered into a licensing agreement with Genethon for the in vivo gene therapy delivery of AAV9 vector into the CNS for the treatment of spinal muscular atrophy. Technavio's analysts have predicted that the spinal muscular atrophy treatment market will register a CAGR of almost 23% by 2023.
Rising number of initiatives being taken by organizations to provide patient care
Several organizations are taking initiatives to provide the best care to patients suffering from spinal muscular atrophy, and some organizations such as Cure SMA are offering care packages and family support staff to newly diagnosed patients.
Low adoption of spinal muscular atrophy treatment
One of the major challenges faced in the market is low adoption of spinal muscular atrophy drug therapy as patients have a higher propensity towards other approaches, such as physiotherapy, nutritional support, respiratory care, and enablement strategies.
For the detailed list of factors that will drive and challenge the growth of the spinal muscular atrophy treatment market during the 2019-2023 period, view our report.
The market appears to be highly concentrated and with the presence of Biogen, the market is expected to grow less concentrated with the emergence of new players during the forecast period. Factors such as increase in development of new innovative therapies and rising number of initiatives being taken by organizations to provide patient care, will provide considerable growth opportunities to spinal muscular atrophy treatment companies. Biogen is the major company covered in this report.