The Rare Diseases Treatment Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Rare Diseases Treatment Global Market Report 2024, The rare diseases treatment market size has grown rapidly in recent years. It will grow from $169.56 billion in 2023 to $192.22 billion in 2024 at a compound annual growth rate (CAGR) of 13.4%. The growth in the historic period can be attributed to orphan drug legislation, increased disease awareness, biotechnological innovations, global health initiatives, rise in personalized medicine.
The rare diseases treatment market size is expected to see rapid growth in the next few years. It will grow to $312.46 billion in 2028 at a compound annual growth rate (CAGR) of 12.9%. The growth in the forecast period can be attributed to emergence of innovative therapeutic modalities, evolving healthcare reimbursement policies, artificial intelligence and data analytics, expansion of patient registries, regulatory support for expedited approvals.. Major trends in the forecast period include gene therapy breakthroughs, cross-sector collaboration, telemedicine and remote care, emerging therapeutic modalities, patient advocacy and empowerment.
The increasing burden of rare diseases is driving the rare disease treatment market. Rare diseases are diseases that affect a very small population as compared to general diseases. The increasing incidences and fatalities due to rare diseases are creating a demand for effective rare diseases treatment. For instance, according to a report published in Orphanet Journal of Rare Diseases, a UK-based open access medical journal on rare diseases, there were about 15.5 million U.S children with at least one rare. As a result, the increasing prevalence of rare diseases propels the rare disease treatment market forward.
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The rare diseases treatment market covered in this report is segmented –
1) By Drug Type: Originator Drugs (Patented Molecules), Generic Drugs
2) By Drug Class: Biologics, Organic Compounds
3) By Mode Of Administration: Injectable, Oral, Other Modes Of Administration
4) By Therapeutic Area: Cancer, Neurological Conditions, Cardiovascular Conditions, Musculoskeletal Conditions, Hematologic Disorders, Infectious Diseases, Metabolic Disorders,Endocrine Disorders, Other Therapeutic Areas
5) By Distribution Channel: Hospital Pharmacies, Specialty Pharmacies, Retail Pharmacies
Technological advancements are the key trends in the rare disease treatment market. Major companies in the rare disease treatment market are integrating artificial intelligence in rare disease treatment to provide a better alternative and sustain their position in the market. For instance, in August 2021, Healx, a UK-based AI-driven innovation company, launched HealNet, an AI-powered drug discovery platform for rare disease treatment. The platform is based on machine learning and artificial intelligence technology to conduct effective and fast drug discovery processes. It integrates data from multiple to form a detailed rare disease biomedical knowledge graph that is analyzed by cutting-edge AI methods.
The rare diseases treatment market report table of contents includes:
1. Executive Summary
2. Rare Diseases Treatment Market Characteristics
3. Rare Diseases Treatment Market Trends And Strategies
4. Rare Diseases Treatment Market – Macro Economic Scenario
5. Global Rare Diseases Treatment Market Size and Growth
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26. South America Rare Diseases Treatment Market 27. Brazil Rare Diseases Treatment Market
28. Middle East Rare Diseases Treatment Market
29. Africa Rare Diseases Treatment Market
30. Rare Diseases Treatment Market Competitive Landscape And Company Profiles
Top Major Players:
- AbbVie Inc
- Actelion Pharmaceuticals Ltd
- Alexion Pharmaceuticals Inc
- Celgene Corporation
- Bayer AG
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