According to a report by TechSci Research titled “Global Rare Disease Therapeutics Market By Drug Type (Biologics, Organic Compounds), Therapeutic Area (Cancer, Blood-related Disorders, Central Nervous System [CNS], Respiratory Disorders, Musculoskeletal Disorders, Cardiovascular Disorders, Others), Route of Administration (Oral, Injectable, Others), Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Specialty Pharmacies), Region, Competition Forecast & Opportunities, 2028,” the global rare disease therapeutics market is expected to experience significant growth in the coming years. The market will be driven by a strong product pipeline and upcoming launches. In 2021, Pharmaceutical Research and Manufacturers of America reported that there were approximately 791 potential orphan drug candidates undergoing clinical trials for the treatment of rare diseases. These trials included the treatment of 192 genetic disorders, 56 neurological disorders, 54 blood disorders, 51 autoimmune diseases, 36 infectious diseases, 168 rare malignancies, and 120 rare blood cancers.
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The global rare disease therapeutics market was affected by the COVID-19 pandemic, much like the global economy as a whole. The market faced challenges in the first half of 2020 due to the pandemic’s widespread impact. Countries implemented complete lockdowns, and the healthcare industry focused its efforts on finding prevention and cure for COVID-19. Subsequently, the discovery of a vaccine for the virus slowed down ongoing studies on rare disease therapeutics, creating a setback for the market. However, the market has since recovered and is expected to demonstrate significant growth in the forecast period.
The global rare disease therapeutics market is segmented based on drug type, therapeutic area, route of administration, distribution channel, and regional distribution. In terms of therapeutic area, the market is further categorized into cancer, blood-related disorders, CNS, respiratory disorders, musculoskeletal disorders, cardiovascular disorders, and others. Cancer has dominated the market segment due to the high number of cancer patients worldwide. According to the International Agency for Research on Cancer’s 2020 report, there are over 20 million cancer patients globally, with nearly two-thirds of this population being under the age of 20 and suffering from rare types of cancer. This prevalence has contributed to the growth of the global rare disease therapeutics market for cancer. The market is expected to consistently grow in the next five years due to the increasing number of patients.
Major competitors in the market include Medtronic Plc., Boston Scientific Corporation, St. Jude Medical, Inc. (Abbott), Synapse Biomedical Inc, Nevro Corporation, NDI Medical LLC, Terumo Corporation, Edwards Lifesciences Corporation, NeuroPace, Inc., LivaNova PLC, Synchron Inc., Functional Neuromodulation Ltd., Beijing PINS Medical Co. Ltd, Renishaw Plc, and Aleva Neurotherapeutics SA. These companies are engaged in extensive research and development activities to maintain competitiveness in the market. They also employ competitive strategies such as forming alliances and partnerships.
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“Recent times have seen rare disease drugs and treatment plans as a promising sector of pharmaceutical industry. Biotech companies and other research based pharma companies are highly active and invested in the development of the drugs and therapeutics. Increasing the clinical development timelines, lowering the cost of the commercialization of the drugs will promise better growth of the market and opportunity for the new investors. Moreover, rare diseases are unlike conventional drugs and present with lucrative opportunity in the future forecast period owing to the future requirement that are supported by increasing number of rare diseases,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.
“Global Rare Disease Therapeutics Market By Drug Type (Biologics, Organic Compounds) By Therapeutic Area (Cancer, Blood-related Disorders, Central Nervous System (CNS), Respiratory Disorders, Musculoskeletal Disorders, Cardiovascular Disorders, Others) By Route of Administration (Oral, Injectable, Others) By Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Specialty Pharmacies) By Region, Competition Forecast & Opportunities, 2028”, has evaluated the future growth potential of Global Rare disease therapeutics and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Rare disease therapeutics.
Report Scope:
In this report, global rare disease therapeutics market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
- Rare Disease Therapeutics Market, By Therapeutic Area:
- Cancer
- Cardiovascular Disorders
- Musculoskeletal Disorders
- Hematologic Disorders
- Infectious Diseases
- Metabolic Disorders
- Endocrine Disorders
- Others
- Rare Disease Therapeutics Market, By Route of Administration:
o Oral
o Injectable
o Others
- Rare Disease Therapeutics Market, By Drug Type:
- Biologics
- Biosimilars
- Small Molecule
- Rare Disease Therapeutics Market, By Distribution Channel:
o Hospital Pharmacies
o Specialty Pharmacies
o Online Pharmacies
- Rare Disease Therapeutics Market, By Region:
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- North America
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About TechSci Research:
TechSci Research is a research-based management consulting firm providing market research and advisory solutions to its customers worldwide, spanning a range of industries. TechSci Research’s core values are value, integrity and insight. Led by a team of dynamic industry experts, TechSci Research provides its customers with high value market research and advisory services that helps them identify new market opportunities, growth engines and innovative ways to capture the market share. As a result, TechSci’s client leads rather than follow market trends. Not bound by legacy, TechSci’s cutting-edge research model leverages its decades of research knowledge and an increased use of technology as engines of innovation to deliver unique research value. Provided as an alternative to traditional market research, TechSci Research reports do not just deliver data and knowledge rather highlights the insights in a more usable and interactive format for its clients.
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