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Rare Disease Treatment Market – By Drug Type (Biologics, Non-biologics), Therapeutic Area (Cancer, Respiratory Disorder, Cardiovascular Disorder), Patient (Adult, Pediatric), Route of Administration (Oral, Injectable) – Global Forecast (2024 2032)
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Rare Disease Treatment Market
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Premium Report Details
Base Year: 2023
Companies covered: 21
Tables & Figures: 354
Countries covered: 34
Pages: 250
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Rare Disease Treatment Market Size
Rare Disease Treatment Market size was valued at USD 205.3 billion in 2023 growing at a CAGR of 9% between 2024 and 2032, driven by factors such the increasing prevalence of cancer and other rare diseases across the globe.
For instance, as per the article published in National Library of Medicine in December 2023, it has been reported that in the European Union, there are approximately 30 million people living with a rare disease; in Germany there are an estimated 4 million. It is estimated that 300 million people are affected globally. Thus, the rapid increase in the prevalence of rare disease is the major factor that increase the demand for novel drug therapies to treat such disease. Moreover, the increase in awareness about rare diseases grows among healthcare providers, patients, and regulatory bodies. This awareness often leads to increase funding for research and development that propel the market growth.
Rare disease also known as orphan disease is caused due to genetic alterations and can be defined as the disease that affects a small percentage of the population. There are about 7,000 rare diseases. The cause of many rare diseases is unknown, but they are often caused by changes in a person’s genes or chromosomes. Also, these diseases are often more difficult to diagnose and treat than the more common diseases. Developing treatments and medications for rare diseases is often non-viable or difficult as the target population is very low. Thus, various government often provide research grants and funding for drug or treatment development.
Rare Disease Treatment Market Trends
Rare Disease Treatment Market Analysis
Based on the drug type, the global market is classified into biologics and non-biologics. The biologics segment dominated the market with revenue of USD 166.9 billion in 2023.
Based on the therapeutic area, the global rare disease treatment market is classified into cancer, blood-related disorders, central nervous system, respiratory disorders, musculoskeletal disorders, cardiovascular disorders, and other therapeutic area. The cancer segment dominated the market with market share of 48.9% in 2023.
Based on the patient, the global rare disease treatment market is classified into adult and pediatric. The adult segment is expected to exhibit CAGR of 8.7% during the analysis period.
Based on route of administration, the rare disease treatment market is classified into oral and injectable. The oral segment is expected to reach USD 235.1 billion by end of 2032.
In 2023, North America secured a substantial market share of 48.8% in the global rare disease treatment market and is expected to dominate throughout the forecast period.
Germany to experience the highest growth rate in the market, outstripping other countries in Europe in the assessment period.
The India rare disease treatment market is expected to grow with a significant CAGR of 11.5% during the forecast period.
Rare Disease Treatment Market Share
The competitive landscape of the market is characterized by the presence of established pharmaceutical companies that manufacture and conduct intense R&D activities to provide rare disease treatment vying for market share. Key players are engaging in strategic initiatives such as collaboration, product launch, investment, and partnerships to strengthen their product portfolio. The companies are actively adopting a multi-pronged approaches to address the rising demand for rare disease treatment.
Rare Disease Treatment Market Companies
Prominent players operating in the rare disease treatment industry are as mentioned below:
Rare Disease Treatment Industry News:
The rare disease treatment market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 - 2032 for the following segments:
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Market, By Drug Type
Market, By Therapeutic Area
Market, By Patient
Market, By Route of Administration
The above information is provided for the following regions and countries: