The Global Spinal Muscular Atrophy Market Continues To Grow Owing To the Newly Launched FDA Approved Products in the Market and Easier Government Reimbursement Policies across the Globe

 

Spinal muscular atrophy, also known as SMA, is a progressive condition wherein nerve fibers in the spinal cord are replaced by scar tissues. This degeneration occurs predominantly in the long muscle fibers and involves the progressive weakening and eventually the complete loss of muscle function. This condition can result from a variety of pathological conditions, including traumatic injuries, strokes, age-related macular degeneration, and spinal cord injuries. It can also be the result of various hormonal changes, such as during puberty and pregnancy or the body's response to disease or injury. Spinal muscular atrophy can have several different potential causes, including genetic factors, exposure to disease and/or injury, abnormalities in the spine, as well as the progressive weakening of muscles at the point of its attachment to the spinal cord.

Market Dynamics

The factors driving the global growth of the spinal muscular atrophy market include an increase in the cases of the disorder and the launch of highly effective new products in the market. The SME treatment is one of the most expensive healthcare services in the world, owing to the rarity of the disorder. Even though it is termed as very rare, the Spinal Muscular Atrophy Foundation (SMA Foundation) stated that around 1 in every 6000 to 10,000 babies born globally are diagnosed with SMA disorder. Thus, increasing prevalence of this disorder is one of the main driving factors for the high revenue generation. This disorder was not a concerning issue for many decades although recently with the higher number of cases, health care companies and services are launching new products, which are very effective. For instance, Spinraza launched by Biogen in 2016, is proven very effective for spinal muscular atrophy treatment.

However, high cost of the treatment is acting as the main restraining factor, hindering growth of the market. For instance, according to the U.S. Department of Health and Human Services (HHS), in the first year of the treatment, Spinraza costs around US$ 750,000 and after this, every year the treatment costs US$ 375,000. This high cost frequently affects the preference of this treatment for many patients. However, some nations across the globe have very favorable reimbursement policies.

This market is distributed in five regions that include North America, Europe, Asia-Pacific, Middle East, and Africa, and Latin America. Among these, North America is expected to hold a bigger share of the spinal muscular atrophy market, owing to federal reimbursement policies and the growing number of cases in the region. According to the SMA Foundation, there are as many as 10,000 to 25,000 adults and children in the U.S. who are suffering from this disorder. Europe and Asia Pacific are expected to witness significant growth in the market, owing to the prevalence of key players in this region.

Competitive Analysis

Major players operating in the spinal muscular atrophy market include Genzyme Corporation, Astellas Pharma Inc., Genentech Inc., Novartis AG, and Biogen

In May 2019, Zolgensma produced by Novartis received the U.S. FDA (Food and Drug Association) approval as the first and only gene therapy for pediatric patients with SMA.