Rare Disease Drug Market Scope
The rare diseases drug highly conditions as an orphan drug. It is highly utilized in the United States regions. There are near about 7000 rare diseases across the globe. The highest number of patients related to the rare disease drugs in the United States, the European Union, and Japan. The market is growing at a higher rate because of the increased number of current willingness and the increasing number of industry players. With the growing concern towards rare disease drugs, many emerging economies are focusing on development initiatives. For instance, India is looking to set rare diseases drug policy and also developing domestic treatments. In India increasing the occurrence of Duchenne muscular dystrophy among children forced the Ministry of Health and Family Welfare forming the national Policy for the treatment of rare diseases. Globally, also various legislations are developing in concern of the rare disease drugs such as the United States Orphan Drug Act is initiating various rare disease drug development.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Novartis (Switzerland), Bristol-Myers Squibb Company (United States), Celgene Corporation (United States), F. Hoffmann-La Roche Ltd. (Switzerland), Pfizer, Inc. (United States), Sanofi S.A. (France), Alexion Pharmaceuticals, Inc. (United States), Eli Lilly and Company (United States), Novo Nordisk A/S (Denmark), AstraZeneca (United Kingdom), Eisai Co., Ltd. (Japan) and Daiichi Sankyo Company Limited (Japan) |
CAGR | % |
The global rare disease drug market is highly competitive and consists of some key players. In terms of market share, few of the key players presently dominate the global market. These market players are leveraging on strategic collaborative creativities to intensification their market share and escalation their profitability. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Rare Disease Drug market throughout the predicted period.
Novartis (Switzerland), Bristol-Myers Squibb Company (United States), Celgene Corporation (United States), F. Hoffmann-La Roche Ltd. (Switzerland), Pfizer, Inc. (United States), Sanofi S.A. (France), Alexion Pharmaceuticals, Inc. (United States), Eli Lilly and Company (United States), Novo Nordisk A/S (Denmark), AstraZeneca (United Kingdom), Eisai Co., Ltd. (Japan) and Daiichi Sankyo Company Limited (Japan) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Bayer AG (Germany), GlaxoSmithKline (United Kingdom), Merck & Co., Inc. (United States), Johnson & Johnson (United States) and Biogen, Inc. (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Rare Disease Drug market by Type , by Application (Hospitals, Clinics and Others) and Region with country level break-up. On the basis of Type, Pharmacies are dominating the market in the year 2023
On the basis of application, Hospitals segment is dominating the market in the year 2023
On the basis of geography, the market of Rare Disease Drug has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In February 2019, Ipsen announced the acquisition of the Clementia Pharmaceuticals for the treatment of the key late-stage clinical asset palovarotene, multiple osteochondromas, and others. Through this agreement, the company is aiming to enhance its product portfolio in rare diseases across the globe.
In August 2019, Critical path Institute and advocacy organization national organization revealed its new data and analytics platform for rare disorders. This platform is having multiple sources including clinical trials, observational studies, real-time data, and others.
The rare disease drugs are regulated by the FDA. Recently, in the market there are three new drugs approved by the FDA for the treatment of two new types of rare diseases including non-Hodgkin lymphomas, and Fabry disease. The new drugs are Mogamulizumab-kpkc injection, Lanadelumab-flyo, and migalastat. Recently, the United States regulators registered COVID-19 as rare disease treatment. For this FDA grant an experimental medicine known as remdeivir for the treatment of coronavirus disease. With the continuously rising COVID-19 cases in the United States region, the health agency's made decisions to provide remdesivir at a lower price (if it will be approved).
Influencing Trend:
Increase in investment from the manufacturers of the leading drug across the globe to developing therapies, invest more in research and focused on offering innovative solutions. Which can bring high potential to offer a solution which impacted on rare diseases. The company is providing drugs to provide patients which includes emerging markets, with advance healthcare.
Market Growth Drivers:
Rising Awareness among Consumers, Technology Advancement in Manufacturing Process and Increasing Number of Rare Diseases in North America Regions, it almost occurs in one in ten American
Challenges:
The high challenge for patients, they are facing huge diversity in their clinical histories. These variables include age, disease progression, and various outcomes, whether they are clinician-reported, observer-reported, or patient-reported outcomes.
Restraints:
Fluctuation in Cost of Raw Materials Associated With Rare Disease Drugs and There are around 95 percent of rare disease which do not have any treatment across the globe
Opportunities:
Development in Drug Manufacturing Countries and Rising Investment of Research and Development on the Rare Disease Drugs, in Terms of Inventing New Treatments
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Rare Disease Drug Manufacturers, Suppliers and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries