DUBLIN--(BUSINESS WIRE)--The "Global Rare Diseases Treatment Market Size, Share & Industry Trends Analysis Report By Distribution Channel (Specialty Pharmacy, Hospital Pharmacy, and Online Pharmacy), By Route of Administration, By Therapeutic Area, By Regional Outlook and Forecast, 2022 - 2028" report has been added to ResearchAndMarkets.com's offering.
The Global Rare Diseases Treatment Market size is expected to reach $255.4 billion by 2028, rising at a market growth of 12.5% CAGR during the forecast period.
A rare disease is one that impacts a small proportion of the population. In some parts of the world, an orphan disease is a rare disease that lacks a large enough market to gain support & resources for uncovering treatments for it, unless the government grants economically advantageous conditions for developing and selling such treatments. Rare disease treatments are those that have been created or sold for this purpose.
A multidisciplinary approach based on innovative initiatives for the development of novel SMA drugs to address unmet needs in rare disease treatment is expected to surge the demand for rare diseases treatment. In addition, basic research on patient access, clinical development challenges, and regulatory approval processes are major characteristics highlighted in policy proposals.
The condition frequently affects a patient's entire family, and continuous care is taxing. Even if only a small number of people are affected by a disease, it can put a massively disproportionate strain on healthcare & social services. The value chain can be extended to achieve forward integration. To achieve a high return on investment, operating efficiency is being increased. This can be accomplished by shifting the production of important medicines to orphan drugs.
Market Growth Factors
The increasing presence of rare diseases
Because of the high prevalence of individuals suffering from rare diseases, special drugs will be required, which is accelerating the acceptance of rare disease treatments.
These treatments are aimed at specific genes that have been transformed in order to cure the disease. Because of their simplicity and major non-invasive treatments, these treatments have grown in popularity. With this rise in popularity, rare disease treatment is expected to expand rapidly. Furthermore, these treatments are becoming more popular as healthcare infrastructure around the world improves.
Rising R&D initiative for rare diseases treatment
The increasing R&D investments by popular vendors for orphan drug development of novel product offerings is one of the crucial driving factors prevailing in the market. Because public awareness and understanding of rare diseases have grown, a large number of key clinical-stage biopharmaceutical companies and established market players now have orphan drug pipeline candidates in various stages of clinical trials.
This growing interest in rare disorder therapeutics is due to the fact that major pharmaceutical breakthroughs resulting in blockbuster drug developments are more likely in rare disorders than in traditional pharmaceutical portfolios.
Market Restraining Factors
High costs involved in R&D of the rare diseases treatment
Despite the increased focus on the development and marketing of rare disease therapeutics around the world, certain constraints are limiting the market growth. The high cost of researching and developing pipeline candidates for the treatment of rare diseases leads to an increase in drug prices. This huge cost of treatments has seriously limited the wide adoption of these product lines, particularly in developing countries. Such high treatment costs are also a source of concern in developed countries, where many drugs might not be adequately paid back, and hence, significantly increasing the patient's out-of-pocket costs.
Market Segments Covered in the Report:
By Drug Type
- Biologics
- Biosimilar
- Small Molecule
By Distribution Channel
- Specialty Pharmacy
- Hospital Pharmacy
- Online Pharmacy
By Route of Administration
- Injectable
- Oral
- Others
By Therapeutic Area
- Cancer
- Cardiovascular Conditions
- Infectious Diseases
- Musculoskeletal Conditions
- Endocrine Disorders
- Metabolic Disorders
- Hematologic Disorders
- Neurological Conditions
- Others
By Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- AbbVie, Inc.
- F. Hoffmann-La Roche Ltd.
- Bayer AG
- Novartis AG
- Merck Group
- Bristol Myers Squibb Company
- Pfizer, Inc.
- AstraZeneca PLC
- Takeda Pharmaceutical Company Limited
- PTC Therapeutics, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/yhezft
