Global Spinal Muscular Atrophy Market – Overview
Across the globe, several governments are constantly and aggressively trying to come up with new strategies so as to provide superior quality of social insurance to their masses. These governments, especially the ones in nations with generous assets are concentrating on doing more activities of research and development for creating therapeutics for uncommon diseases and illnesses. The efficient results of such activities then go on to become patent and offered to pharmaceutical companies and restorative equipment manufacturers for improving those therapeutics. Such developments for treatment of spinal cord issues are now offering tailwinds to the global spinal muscular atrophy market for the give period of forecast ranging from 2015 to 2023.
There are several factors that are helping to drive the overall development of the global spinal muscular atrophy market. One of the key driving factors for the market development has been increased spending on the development of healthcare infrastructure by governing bodies. They are now looking to provide state of the art and world-class services to their consumers.
Another important growth factor for the market has been the increasing focus on developing high end therapeutics for spinal muscular atrophy. The pharmaceutical research sector in particular has been working closely on developing novel drugs for the disease. Currently, due to the lack of availability of standard and effective treatment, there is a huge scope of experimentation and development. Moreover, availability of only a handful of high-end drugs also begs for the demand for new and more efficient drugs.
As per the research findings provided by CureSMA, nearly one in fifty people is carrying a faulty spinal muscular atrophy gene. If these estimations are applied to general populace, the number of patient or the patient pool is expected to rise. This is expected to help in fueling the overall growth of the global spinal muscular atrophy market. Also, this is also expected to provide ample growth opportunities for the development of the global market in the coming years of the forecast period.
There are however, some factors that might impede the growth of the global spinal muscular atrophy in the coming years of the forecast period. These inhibitors will slow down the market growth and stop it from reaching its full potential. One of the key restraining factor for the growth of the global market has been the strict regulations placed on the commercialization of the treatment of rare disorders. Nonetheless, because of the several different factors such as favorable rules, competitive pricing, drug pricing, and growing patient pool, established nations are now coming up with well developed centers for spinal muscular atrophy disorder.
North America to Lead Global Market in Coming Years
In terms of geographical segmentation, the global market for spinal muscular atrophy is segmented into five key regions. These regions are North America, Latin America, Middle East and Africa, Asia Pacific, and Europe. Of these, currently, the global market is being dominated by the regional segment of North America. This growth of the regional market is primarily driven due to the increasing demand for high end drugs and effective therapeutics from the countries such as the US and Canada. In addition to this, increasing research and clinical developments happening across these nations is also expected to provide massive impetus to the development of the market. On the other hand, the regional segment of Asia Pacific is expected to show a promising rate of growth in the near future
Market Leaders to Invest on Development of New Therapeutics
Spinal muscular atrophy is a seriously grave disorder. The global market is currently witnessing high levels of competition because of the presence of massive fragmentation of the vendor landscape. However, the market situation is expected to become even more intense in the near future as several new players are projected to enter the global market with a view to serve more customers and generate more profits.
In order to enter the global spinal muscular atrophy market and establish themselves, the new players are now focusing on acquiring new methodologies and techniques. Moreover, they are concentrating on aggressive growth strategies such as mergers, joint ventures, and takeovers in order to stay ahead of the competition. These aggressive strategies are allowing these new entrants to obtain basic assets to sustain the intensifying competition and establish themselves in the global market. On the other hand, the leading companies in the global market are concentrating on developing new and innovative therapeutics and collaborating with local players in order to expand their current business models. This is expected to help them generate more profits and further establish their brand among their end users.
Savvy market leaders are now deeply engaged in developing new types of drugs and formulations, the success rate of which will have a considerable impact on the overall development of the global market. For such developments and initiatives, established players are now teaming up with regional companies so as to leverage their research and technological prowess. For instance, the recent strategic alliance of Cytokinetics Inc. with a Japanese company for the development of new drug for spinal muscular atrophy is a great example of such developments.
Some key companies operating in the global spinal muscular atrophy market include AveXis Inc., Ionis Pharmaceuticals Inc., Cytokinetics Inc., F. Hoffmann-La Roche AG, and Novartis AG.
Pipeline analysis of spinal muscular atrophy (SMA) market report provides with comprehensive analysis of drugs in clinical trials for treatment for spinal muscular atrophy. The report provides insights to SMA prevalence, and current treatment pattern. The report also identifies key market drivers, restraints and opportunities in the global spinal muscular atrophy therapeutics market. Detailed market attractiveness analysis by geography provides future outlook to the spinal muscular atrophy landscape. Market attractiveness analysis considers various factors such as patient population, drug pricing policies, regulatory restrictions, current competition intensity, and current state of healthcare sector for assessing the potential of each geographical market.
In the pipeline analysis of spinal muscular atrophy (SMA) market report, market analysis and forecast has been provided for late stage (phase 3) candidates, while also includes thorough qualitative information for other candidates in early stage (phase 1 and phase 2). ISIS-SMNRx by Isis Pharmaceuticals is presently the only late stage candidate in spinal muscular atrophy pipeline, while three drugs are currently in phase 2 and three others in phase 1. These include Olesoxime (TRO19622), LMI070, RO6885247, CK-2127107, scAAV9.CB.SMN and RG3039. The report also mentions some of the potential preclinical candidates in the spinal muscular atrophy pipeline. The pipeline analysis of spinal muscular atrophy (SMA) market report provides overview of the clinical trials, and its current status for each drug candidate for treatment of spinal muscular atrophy. Details on mergers, acquisitions, licensing agreements, and other collaborative agreements, updated on regulatory policies, and expected study completion are also mentioned in the report. Market estimation and forecast for phase 3 drugs for treatment of spinal muscular atrophy has been provided from the expected year of drug approval, till 2023 (in USD Million) for the United States.
Pipeline analysis of late stage (phase 3) drugs for treatment of spinal muscular atrophy adopts patient based approach, in which actual patient population that can be targeted by the new drug is considered to arrive at probable sales of the drug in the launch year. Forecast model considers various macro- as well as micro-economic factors such as drug efficiency, side effects, prevalence and incidence rate, impact of regulatory policies, impact of competitor drugs and generic competition (if applicable) and pipeline status. The report collates information from various government as well as corporate sources such as Europe and the U.S. clinical trial registries, World Health Organization (WHO), Centers for Disease Control and Prevention (CDC), CureSMA, Families of SMA, PubMed, company press releases, annual reports and investor presentations. The analysis also considers inputs from industry experts and key opinion leaders with expertise in rare disease drug discovery, and marketing and sales experts.
Key players with potential candidates in clinical trials for treatment of spinal muscular atrophy have been profiled in the report. These include AveXis, Inc., Cytokinetics, Inc., F. Hoffmann-La Roche Ltd., Novartis AG, and Ionis Pharmaceuticals, Inc. Each of the company profile provides details such as company overview, business overview, financial overview, product portfolio, business strategies, and recent developments.