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Description
Spinal Muscular Atrophy Management Market was valued at USD 1.3 Billion in 2020 and is anticipated to grow at USD 2.79 Billion till 2027 recording a CAGR of 11.5% during the forecast period 2021-2027. Spinal muscular atrophy management is a category of hereditary illnesses that causes muscle degradation and compromises muscle function. It usually causes weakness and might even result in death. Motor neurons in the brain and spinal cord are affected by SMA. These motor neurons transmit electric and chemical impulses to and from voluntary muscles in the body, allowing for a variety of physical tasks such as walking, crawling, swallowing, and so on. Spinal muscular atrophy (SMA) management market is at the initial stage. Only one drug was approved for the management (as of 2016) and many of the drugs are still in clinical development. Market players are actively focusing on the drug development to enter into the market. For instance, big players such as Novartis AG is developing drug LMI070, which is in phase 2 clinical trial for management of spinal muscular atrophy type-1. Furthermore, companies are also focusing on acquisitions and mergers for expansion of their developmentl product portfolio. For instance, in January 2015, F. Hoffmann-La Roche AG acquired Trophos, a company focusing on development of novel drugs for orphan and neurodegenerative diseases. By this acquisition, Roche seeks to expand its development portfolio with olesoxime, spinal muscular atrophy drug being developed in phase-II clinical trials. In May 2017, Cytokinetics, Inc.’s pipeline spinal muscular atrophy drug candidate, CK-2127107 got orphan drug designation by Office of Orphan Products Development of U.S. FDA. In December 2016, Biogen Inc. received U.S. FDA approval for SPINRAZA (nusinersen) and European Commission (EC) granted market authorisation for the same in June 2017.
