Covina CA, Feb. 24, 2021 (GLOBE NEWSWIRE) -- 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%. 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”
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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”
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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.
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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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Some Important Points Answered in this Market Report Are Given Below:
- Explains an overview of the product portfolio, including product development, planning, and positioning
- Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
- Detailed analysis of the market revenue over the forecasted period.
- Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
- Study on the segments that are anticipated to dominate the market.
- Study on the regional analysis that is expected to register the highest growth over the forecast period
Key Topics Covered
- Introduction
- Study Deliverables
- Study Assumptions
- Scope of the Study
- Research Methodology
- Executive Summary
- Opportunity Map Analysis
- Market at Glance
- Market Share (%) and BPS Analysis, by Region
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Investment Analysis
- Competitive Analysis