Global Multiple System Atrophy (MSA) Market Key Insights
During the forecast period of 2023-2035, the global multiple system atrophy market is expected to reach an estimated value of ~USD 250 million by 2035, by expanding at a CAGR of ~4%. The market further generated a revenue of ~USD 125 million in the year 2022. Major key factors propelling the growth of multiple system atrophy market worldwide are the increasing prevalence of neurological disorders and the growing global burden of diseases.
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Market Definition of Multiple System Atrophy (MSA)
Multiple system atrophy is a degenerative neurological disorder that affects the body’s involuntary functions such as blood pressure, breathing, digestion, bladder control, and motor control. The pathological accumulation of alpha-synuclein is a distinguishing characteristic of MSA. There’s no common cause known for multiple system atrophy (MSA). The treatment is provided to control the symptoms of MSA which includes supportive therapies such as speech therapy, physiotherapy, occupational therapy, and the treatment of autonomic symptoms. Lifestyle changes together with some medications help to manage symptoms as there is no cure for this condition.
Global Multiple System Atrophy (MSA) Market: Growth Drivers
The growth of the global multiple system atrophy market can majorly be attributed to the growing occurrence of multiple system atrophy across the world along with the rising cases of neurogenerative disorders. As per the data provided by the Rare Diseases Organization, the incidence of multiple system atrophy in the United States alone is ~0.6 cases per 100,000 people every year whilst an estimated 1,900 new cases of the disease occur each year in the country. On the other hand, the market growth can also be attributed to the increasing research and development (R&D) activities to develop an effective treatment for systemic atrophies with growing R&D spending in healthcare also projected to drive the market growth. For instance, global healthcare spending is estimated to reach more than 10 trillion by 2024 (combined public and private healthcare spending).
The global multiple system atrophy market is also estimated to grow majorly on account of the following:
- Growing occurrence of multiple system atrophy globally
- Rising need and development of treatments to delay the progressive neurodegeneration of MSA
- Increasing research and development spending in the pharmaceutical sector to develop drugs for treating MSA
Global Multiple System Atrophy (MSA) Market: Restraining Factor
There is a lack of awareness about the disease amongst the populace. Also, as many of the features of MSA are similar to those observed in Parkinson’s disease, its early diagnosis is difficult. Hence this factor is expected to be the major hindrance to the growth of the global multiple system atrophy market during the forecast period.
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Global Multiple System Atrophy (MSA) Market Segmentation
- By Diagnosis (Magnetic Resonance Imaging (MRI), Positron Emission Tomography (PET), Single Photon Emission Computed Tomography (SPECT), Tilt Table Test, and Others)
The MRI segment, amongst all the other segments, is anticipated to garner the largest revenue by the end of 2035. The growth of the segment can be attributed to the high usage of MRI techniques for differentiation of systemic atrophy with Parkinson’s disease, and its usefulness in tracking the progression of multiple system atrophy. The MRI segment will see improvements in image speed, image quality, and patient comfort as the future of medical imaging rests on computational speed and technological improvements. It will contribute to deeper visualization at the basic cell level with Artificial Intelligence (AI) and Machine Learning (ML) that are coming increasingly to the fore as tools for medical image interpretation and diagnosis. For instance, it was found that the capital investment in companies that are developing ML solutions for medical image analysis hit about USD 522 million in 2018.
- By Type (Parkinsonian, and Cerebellar)
- By Region
The North America multiple system atrophy market is anticipated to hold the largest market share by the end of 2035 among the market in all the other regions. The increasing healthcare spending along with the rising prevalence of neurological disorders, and the strong presence of prominent market players in the region. According to the Centers for Medicare and Medicaid Services, U.S. healthcare spending grew 4.6%in 2019, reaching USD 3.8 trillion. Additionally, health spending accounted for 17.7% of the country’s total GDP share.
The market research report on global multiple system atrophy also includes the market size, market revenue, Y-o-Y growth, and key player analysis applicable for the market in North America (U.S., and Canada), Latin America (Brazil, Mexico, Argentina, Rest of Latin America), Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific), Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), and Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa).
Key Market Players Featured in the Global Multiple System Atrophy (MSA) Market
Some of the key players of the global multiple system atrophy market are Chelsea Therapeutics International, Ltd., Biohaven Pharmaceuticals, Inc., Sumitomo Dainippon Pharma Co., Ltd., AstraZeneca plc, Theravance Biopharma, Inc., Merck & Co., Neuropore Therapies Inc, Newron Pharmaceuticals SpA, ProMIS Neurosciences Inc., Stealth BioTherapeutics Corp, and others.
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