Global Rare Disease Drugs Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2026
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The Rare Disease Drugs Market report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint.
The global rare disease drugs market report has been segmented on the basis of therapeutic area, drug class, mode of administration, distribution channel, and region.
This Rare Disease Drugs Market report is based on the synthesis, analysis, and interpretation of information gathered regarding the target market from various sources.
Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market.
In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in the future.
Rare Disease Drugs Market Overview:
“The Rare Disease Drugs Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Rare diseases or orphan diseases are conditions that affect a small percentage of the population at any given time.
According to the U.S. Food & Drug Administration (FDA), an orphan disease is defined as a disease or condition affecting less than 200,000 people in the country. Orphan Drugs Act under the U.S. legislation allows manufacturers to request FDA to grant an orphan drug status to drugs intended to treat a rare disease or condition.
Increasing government initiatives for spreading awareness about rare diseases coupled with the presence of advanced healthcare infrastructure in developed and some developing economies are major factors driving the growth of the global rare disease drugs market.
In addition, favorable reimbursement policies in developed economies and favorable regulations for approval of drugs for the treatment of rare diseases are other major factors projected to boost the growth of the global rare disease drugs market over the forecast period.
Moreover, government incentives such as the reduced tax on medicines, and higher funding for research on rare diseases and their treatments are other factors expected to propel the growth of the global market to a significant extent.
However, high costs related to R&D for the development of rare disease drugs coupled with the presence of a small patient pool are major factors restraining the growth of the global rare disease drugs market.
Additionally, a limited number of human trials conducted is another major factor anticipated to limit the growth of the global rare disease drugs market over the forecast period.
Currently, the market in North America dominates the global rare disease drugs market in revenue terms owing to the presence of proper healthcare facilities, high awareness about diseases and drugs, and favorable government reimbursement policies in the region.
The market in Europe accounted for the second-highest revenue share in the global rare disease drugs market, due to high healthcare expenditure by governments of countries, and high disposable income, followed by markets in Asia Pacific, Latin America, and Middle East & Africa respectively.
The market in Asia Pacific is projected to witness fastest growth in terms of revenue, owing to increase in number of patients suffering from rare and chronic diseases, and rise in government initiatives for improvement of healthcare facilities in countries in the region.
Global rare disease drugs market segmentation:
By therapeutic area:
- Genetic Diseases
- Neurological Diseases
- Infectious Diseases
- Inflammatory Diseases
- Kidney Diseases
- Skin Disorders
- Others (Metabolic Diseases, Pulmonary Diseases, Musculoskeletal Diseases, and Endocrine Diseases)
By drug class:
- Organic Compounds
By mode of administration:
By distribution channel:
- Hospital Pharmacies
- Specialty Pharmacies
- Retail Pharmacies
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Novartis AG
- Pfizer Inc.
- Hoffmann-La Roche Ltd.
- Bristol-Myers Squibb Company
- Merck & Co., Inc.
- AbbVie Inc.
- Johnson & Johnson Services, Inc.
- Novo Nordisk A/S
- Teva Pharmaceutical Industries Ltd.
- Bayer AG
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