Rare Disease Market is estimated to be US$ 547.5 billion by 2030 with a CAGR of 13.1% during the forecast period
Rare Disease Market accounted for US$ 161.4 billion in
2020 and is estimated to be US$ 547.5 billion by 2030 and is anticipated to
register a CAGR of 13.1%. Rare disease is any disease that affects a small
percentage of the total population. In some parts of the world, an orphan
disease is a rare disease whose rarity supports that there is a lack of a
market large enough to gain support and resources for discovering treatments
for it, except by the government granting economically advantageous conditions
for creating and selling such treatments. Orphan drugs are ones in thousand so
these drugs are created and sold boosting the market.
The report " Global Rare disease Market, By Drug Type
(Biologics and Non-biologics),By Route of Administration (Oral and Injectable),
By Phase (Preclinical, Phase1, Phase2, Phase3 and Phase4), By Therapeutic
Area (Infectious disease, Neurological, Alimentary/Metabolic, Cancer, Blood
& Clotting and Others), By Patients (Neonatal, Pediatric, Adult), By
Distribution Channel (Hospital & Retail Pharmacies, e-Commerce/Online
Pharmacies) and By Region (North America, Europe, Asia Pacific, Latin America,
and Middle East & Africa) - Market Trends, Analysis, and Forecast till
2030”
Key Highlights:
·
The National Institute of
Health (NIH) and Food and Drug Administration (FDA) regulate the training and
guidance to improve the quality and marketing of NIH-funded rare diseases
drugs. Additionally, NIH has also initiated several programs to support drug
delivery for rare diseases.
·
According to a
COVID-19 Community Survey report by the National Organization for Rare
Disorders (NORD), around 74% patients are suffering from rare disorders in the
U.S. face challenges in accessing high-quality medication
Analyst View:
According to the European Organization for Rare
Diseases (EURORDIS) estimates, approximately, 6% to 8% of the population in
European Union is affected by a rare disorder. Therefore, several research
laboratories are focusing on R&D to fulfill the demand for specific
therapeutics for the treatment of rare disorders such as rare cardiovascular
disorders and fatal familial insomnia. As awareness among patients and
development of new technologies are rapidly increasing meanwhile it boost the
market further. Furthermore, detection of rare disease with their treatment
might drive the global rare disease market.
Browse 60 market data tables* and
35 figures* through 140 slides and in-depth TOC on “Global Rare disease
Market, By Drug Type (Biologics and Non-biologics),By Route of Administration
(Oral and Injectable), By Phase (Preclinical, Phase1, Phase2, Phase3,
Phase4), By Therapeutic Area (Infectious disease, Neurological,
Alimentary/Metabolic, Cancer, Blood & Clotting and Others), By Patients
(Neonatal, Pediatric, Adult), By Distribution Channel (Hospital & Retail
Pharmacies, e-Commerce/Online Pharmacies) and By Region (North America, Europe,
Asia Pacific, Latin America, and Middle East & Africa) - Market Trends,
Analysis, and Forecast till 2030”
Key Market Insights from the report:
Global Rare Disease Market accounted for US$
161.4 billion in 2020 and is estimated to be US$ 547.5 billion by 2030 and is
anticipated to register a CAGR of 13.1%. Global Rare Disease Market is
segmented based on the drug type, route of administration, phase,
therapeutic area, patients, distribution channel, and region.
·
By Drug type,
the global rare disease market is segmented into Biologics and Non-Biologics.
·
By Route of
Administration, the global rare disease market is segmented into Oral and
Injectable.
·
By Phase, the
global rare disease market is segmented into Preclinical, Phase1, Phase2,
Phase3, Phase4.
·
By Therapeutic
Area, the global rare disease market is segmented into Infectious disease,
Neurological, Alimentary/Metabolic, Cancer, Blood & Clotting and Others.
·
By Therapeutic
Area, the global rare disease market is segmented into Infectious disease,
Neurological, Alimentary/Metabolic, Cancer, Blood & Clotting and Others.
·
By Patients,
the market is segmented in Neonatal, Pediatric, Adults.
·
By
Distribution Channel, the global rare disease market is segmented into Hospital
& Retail Pharmacies, and E-commerce/Online Pharmacies.
·
By region, the
global rare disease market is segmented into North America, Europe, Asia
Pacific, Latin America, and Middle East & Africa. North America is the
worldwide leader in the rare disease market in terms of revenue, due to the
developed healthcare system and health awareness among people.
Competitive Landscape:
The key players operating in the global rare
disease market include Hoffmann-La Roche, Abbott, Pfizer, Sanofi, Eli Lilly,
Genelux, Mercks & co., Glaxosmith Kline, Astra Zeneca, Eisai, Rexahn and
Taino.
The market provides detailed information
regarding the industrial base, productivity, strengths, manufacturers, and
recent trends which will help companies enlarge the businesses and promote
financial growth. Furthermore, the report exhibits dynamic factors including
segments, sub-segments, regional marketplaces, competition, dominant key
players, and market forecasts. In addition, the market includes recent
collaborations, mergers, acquisitions, and partnerships along with regulatory
frameworks across different regions impacting the market trajectory. Recent
technological advances and innovations influencing the global market are
included in the report.
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