Rare Disease Treatment Market size worth over $317 Bn by 2026

Rare Disease Treatment Market size is set to surpass USD 317 billion by 2026, according to a new research report by Global Market Insights, Inc.
 

Favorable government policies have boosted the ongoing developments in treatment of rare diseases. The development of therapeutic treatments for rare diseases is enhanced due to the introduction of national regulatory and legislative policies. According to a published article, the Canadian Organization of Rare Disorders (CORD) has played a significant role in developing policies that should be considered while addressing the needs of rare disease treatment among the patients. Similarly, the European Organization for Rare Diseases (EURORDIS) has established several necessary policies pertaining to the rare disease treatment. These policies reflect the priorities of healthcare system engaged in meeting the needs of rare disease treatment in the patient population. Therefore, these government policies have augmented the development of specific therapeutics. The National Rare Diseases Plan (NRDP) in several countries is engaged in introducing several strategic policies to develop a comprehensive and integrated approach to deliver care to rare diseases patients.

 

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Increase in number of new drug launches will significantly uplift the rare disease treatment market growth. Progress in genomics and biomedical science has led to a better understanding of molecular basis of diseases that in-turn has led to the development of molecular targeted drugs effectively. Therefore, new drugs are being launched at a moderate pace by the leading market players. In addition, the development and launch of novel therapeutics for rare disorders has increased exponentially owing to the incentives offered to the companies such as market exclusivity and 50% tax credit on clinical studies by the Orphan Drug Act. The FDA Safety Innovation Act has simplified the process of clinical trials of rare disease treatment drugs leading to an increase in number of new drug launches by biopharmaceutical companies.
 

Rise in demand for non-biologic drugs will fuel the market revenue

Non-biologics segment valued at more than USD 20 billion in 2019 led by the factors such as immunogenicity shown by the non-biologic drugs and minimal side-effects of non-biologic drugs. Non-biologic drugs are preferred in the treatment of rare disorders including Felty Syndrome. Non-biologic drugs are cost-effective, and the study of non-biologic drugs is easier as compared to that of the biologic drugs. These factors are leading to an increased demand and development of non-biologic drugs.
 

Browse key industry insights spread across 200 pages with 231 market data tables & 18 figures & charts from the report, Rare Disease Treatment Market Size By Drug Type (Biologics, Non-biologics), By Therapeutic Area (Cancer, Blood-related Disorders, Central Nervous System (CNS), Respiratory Disorders, Musculoskeletal Disorders, Cardiovascular Disorders), By Patient (Adult, Pediatric), By Route of Administration (Oral, Injectable), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/rare-disease-treatment-market
 

Growing demand for treatment of rare CNS disorders will enhance the market value

Central nervous system (CNS) disorder segment exceeded USD 10.1 billion in 2019 impelled by increasing number of patients suffering from rare central nervous system disorders and rising treatment options. According to the Australian Huntington’s Disease Association, in Australia, approximately 1,800 people are suffering from Huntington’s disease. Therefore, the demand of drugs for treatments of such diseases has substantially increased in the last few years leading to rise in production of novel drugs. Technological advancements simplifying the diagnosis of rare CNS disorders and R&D activities have led to the development of specific therapeutic drugs such as satralizumab and tetrabenazine. These drugs have proven to be effective in treatment of rare CNS disorders.
 

Increasing in prevalence of rare disorders in adults will spur the rare disease treatment market share

Adult segment accounted for around USD 115 billion propelled by growing adult and geriatric population pool suffering from rare disorders along with recent technological advancements in rare disease treatment and diagnosis. According to a recently published article, approximately 50% of the rare disorders such as Huntington’s disease and Charcot-Marie-Tooth disease develop during adulthood.  Thus, the demand to develop therapeutic drugs for adult patient population is substantially increasing in the last few years. The testing of novel drugs is conducted on adult patients before being assessed on the pediatric population.
 

Rising preference for injectable drugs is expected to influence the market demand

Injectable route of administration segment revenue was over USD 64 billion in 2019 owing to the 100% bioavailability of injectables as they are administered intravenously. Injectables provide rapid effect and are often used for disorders that require immediate treatment. Hence, increase in need for effective and accurate treatment, the demand for orphan drugs with injectable route of administration is growing in the last few years. Several drugs for rare diseases that can be administered through injections are being developed such as Spinraza to treat spinal muscular atrophy and N-of-1 drug to treat people with ultra-rare genetic diseases.
 

Initiatives by the government in Germany is anticipated to fuel the market growth

Germany rare disease treatment market size was more than USD 4 billion in 2019 due to the gradual increase in number of people suffering from rare disorders in the country along with rise in government measures pertaining to rare disease treatment. According to a published article, in Germany, approximately 4 million people are currently affected by a rare disorder. As a result, National Action League for People with Rare Disease was established to improve the life of rare disease patients. Moreover, the German Federal Ministry of Health (BMG) has taken measures to create awareness pertaining to the treatment options available for rare diseases. Rising investments in innovation, science and healthcare along with enhanced government funding has improved the research and development activities in the country.
 

Companies are focusing on strategies and development of potential therapeutics to expand customer base

Some of the major players operating in the market are AbbVie Inc., Actelion Pharmaceuticals Ltd, Alexion Pharmaceuticals, Inc., Celgene Corporation, Bayer AG, Johnson & Johnson Services, Inc., Novartis AG, Pfizer Inc, Sanofi and Eli Lilly and Company. These leaders are proposing strategic acquisitions, mergers, collaborations with innovative product launches in order to generate significant revenue in the market and enhance their geographical presence.
 

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