Rare disease Market By Drug Type (Biologics and Non-biologics),By Route of Administration (Oral and Injectable), By Phase (Preclinical, Phase1, Phase2, Phase3, Phase4), By Therapeutic Area (Infectious disease, Neurological, Alimentary/Metabolic, Cancer, Blood & Clotting and Others), By Patients (Neonatal, Pediatric, Adult), By Distribution Channel (Hospital & Retail Pharmacies, e-Commerce/Online Pharmacies) and By Region- Market Trends, Analysis, and Forecast till 2030

Rare Disease Market accounted for USD 161.4 Billion in 2020 and is estimated to be USD 547.5 Billion by 2030 and is anticipated to register a CAGR 13.1%.

Genetic and Rare Diseases (GARD) has information from the Food and Drug Administration (FDA) on treatments approved for rare diseases, known as orphan products/drugs. The Orphan Drug Act was passed in 1983 to give drug companies incentives to develop treatments for rare disease. Most rare diseases are genetic thus present throughout the person's entire life, even if symptoms do not immediately appear. Many rare diseases appears early in life, and about 30% of children with rare diseases dies before reaching their fifth birthday. With only three diagnosed patients since 27 years, ribose-5-phosphate isomerase deficiency is considered the rarest known genetic disease. 

Impact of Covid-19 pandemic on market

The recent coronavirus outbreak has instilled panic among people all across the world. Rapidly spread of the disease in several countries, strict measures have been taken to curb the epidemic. Moreover, governments across the world are implementing strategies and raising funds that will result in more attention towards the treatment of the coronavirus disease. This has indirectly halted the rare disease market. This pandemic has certainly left manufacturers in a state of confusion. Given the current situation, the market is set to be negatively affected by this pandemic.

Rising research activities and development of novel drugs

Increasing research activities and development of rare disease drugs has driven the global rare disease market. Additionally, growing product development and implementation of technology drive the innovative devices in diagnosis of which leads to increase adaption of effective treatment of rare disease.

Many key players globally are coming forward

For meeting the needs of the minority patients, local and multi-national market players are modifying their overall clinical operating models and alignment strategies for the sustainability of the newly developed market. An important parameter that is estimated to be playing a pivotal role in the overall establishment and growth of the rare disease market is the accelerated rate at which advancement is taking place in medical science and technology.

Lack of awareness regarding rare diseases

Many rare diseases go undiagnosed for span of time because families, patients and physicians may have limited awareness of certain diseases, and the symptoms may not be informative to healthcare workers who may not have encountered such diseases before. However, technical and clinical-related challenges might hamper growth of the global market to a certain extent.

Rare Disease Market is segmented based on drug type, route of administration, phase, therapeutic area, patients, distribution channel and region.

By Drug type, Global Rare Disease Market is segmented into Biologics and Non-Biologics. By Route of Administration, Global Rare Disease Market is segmented into Oral and Injectable. By Phase, Global Rare Disease Market is segmented into Preclinical, Phase1, Phase2, Phase3, and Phase4. By Therapeutic Area, Global Rare Disease Market is segmented into Infectious disease, Neurological, Alimentary/Metabolic, Cancer, Blood & Clotting and Others. By Therapeutic Area, Global Rare Disease Market is segmented into Infectious disease, Neurological, Alimentary/Metabolic, Cancer, Blood & Clotting and Others. By Patients, the market is segmented in Neonatal, Pediatric, and Adults. By Distribution Channel, Global Rare Disease Market is segmented into Hospital & Retail Pharmacies and E-commerce/Online Pharmacies.

Regional Insights:

On region the Rare Disease Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is dominating the rare disease market due to increase spending in R&D by major companies to aid the growth of this market. The increase demand for the product in the United States as well as Canada will also contribute to the growth of the market in the coming years. Europe’s market will derive growth from the adoption of technologically advanced manufacturing equipment by major companies in the region.

Rare Disease Market Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2020 to 2030. For the purpose of this study, has segmented the global rare market is segmented into drug type, route of administration, phase, therapeutic area, patients, distribution channel and region.  

Rare Disease Market, By Region:

• North America
  • Middle East & Africa
    • • GCC
      • Israel
      • South Africa
      • Rest of Middle East & Africa
  • Latin America
    • • Brazil
      • Mexico
      • Rest of Latin America
  • Asia Pacific
    • • China
      • India
      • Japan
      • South Korea
      • Rest of Asia Pacific
  • Europe
    • • Germany
      • UK
      • France
      • Russia
      • Italy
      • Rest of Europe
  • • U.S.
    • Canada

The key players operating in the Rare Disease Market includes Hoffmenn-La Roche, Abbott, Pfizer, Sanofi, Eli Lilly, Genelux, Mercks & co., Glaxosmith Kline, Astra Zeneca, Eisai, Rexahn and Taino. On 25^th September 2020, AstraZeneca, and Daiichi Sankyo Company announced that the company had received the FDA Orphan Drug Designation for their product offering of Enhertu (trastuzumab deruxtecan) for the treatment of patients with gastric cancer, including gastroesophageal junction cancer.

• Pfizer
• Hoffmen La Roche
• Abbott
• Sanofi
• Eli lilly
• Genelux
• Mercks & co.
• Glaxosmith Kline
• Astra Zeneca
• Eisai
• Rexahn
• Taino