Spinal muscular atrophy (SMA) market is a medical term that affects functioning of muscles due to its deterioration resulting into weakness and may even lead to fatality. In this type of disease, motor neurons located in the brain and spinal cord are greatly affected thus it affects the transfer of electric signals to and from voluntary muscles responsible for walking, swallowing and other activities.
The main causes of SMA are genetic disorders. Further, the disorder is observed and differentiated on the basis of characteristics in cause and symptoms. The main drivers of this market witnesses a growing rate due to rising prevalence of spinal muscular atrophy and growing awareness about diagnostics and treatment of SMA.
Major driving factors account as increasing incidences of spinal muscular atrophy and rising awareness about diagnostics and treatment of SMA. Government initiatives and improving healthcare sum up as other factors. The market restraints comprise shortage of skilled professionals for surgeries.
The global spinal muscular atrophy market is segmented on the basis of type, into Type I, Type II, Type III and Type IV.
On the basis of treatment, the spinal muscular atrophy market is segmented into Gene replacement surgery and drugs.
The global market face dominance from North America for SMA treatment owing to high prevalence of SMA in the region. China and India in the APAC region are estimated to the fastest growing markets.
Rising population and economies in emerging countries are expected to offer lucrative opportunities for the global SMA treatment market. The key players in this market have adopted strategies like collaborations with big players, bringing out innovative and efficient products, mergers and acquisitions, partnerships.
On the basis of geography, the global market is segmented into North America, Europe, APAC, Latin America, Middle-east and Africa. North America dominates the global market for SMA treatment owing to high prevalence of SMA treatment options. Also, technological developments in these regions are other reasons of market drivers in North America. Asia-pacific regions are expected to witness a higher CAGR for the forecast period. Large database of patients and augmentation on government initiatives are primary growth reasons in emerging markets.
The key players in this market include Pfizer inc, Isis Pharmaceuticals Inc, Biogen Inc, BoehringerIngelheim GmbH, F.Hoffmann-La Roche AG, Regeneron Pharmaceuticals, Inc.
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