With a CAGR of 11.8%, the Global Rare Disease Drug Market is forecast to reach a Market Value of US$ 270 billion by 2028 – Market Report by RationalStat

Global rare disease drug market has been analyzed on the basis of market segments, including type, application, and geography/regions (incl. North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific)


Wilmington, Delaware, July 26, 2023 (GLOBE NEWSWIRE) -- According to RationalStat’s analysis, Global Rare Disease Drug Market was estimated at a market value of US$ 192 billion in 2022 and is expected to grow at a significant CAGR of over 11.8% over the forecast period of 2023-2028.

Market Scope and Report Overview

Due to the convergence of legislative incentives, unmet medical requirements, advances in scientific research, and rising awareness, the market for rare disease drugs is booming. The creation of medications for uncommon diseases has the potential to significantly improve patient outcomes as well as present pharmaceutical companies with a workable business opportunity. The market for drugs for rare diseases is anticipated to increase in the coming years as research and funding into these conditions continue to increase.

Market intelligence for the global rare disease drug market covers market sizes on the basis of market value (US$/EUR Million) and volume (‘000 units/tons) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.

In addition, the long-term sector and products/services 10-year outlook and its implications on the global rare disease drug market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.

Request A Customization: https://store.rationalstat.com/store/global-rare-disease-drug-market/#tab-ux_global_tab

Period Covered include data for 2023-2028 along with year-wise demand estimations

The rare disease drug market report analyzes the market on the basis of global economic situations, regional geopolitics, import-export scenarios, trade duties, market developments, organic and inorganic strategies, mergers and acquisitions, product launches, government policies, new capacity addition, technological advancements, R&D investments, and new market entry, replacement rates, penetration rates, installed base/fleet size, global and regional production capacity, among others.

RationalStat offers market analysis and consulting studies on the basis of dedicated and robust desk/secondary research supported by a strong in-house data repository. In addition, the research leverages data based on the real-time insights gathered from primary interviews. Market estimations and insights are based on primary research (covering more than 240 entities) and secondary research by leveraging international benchmarking.

The global rare disease drug market report also covers value chain and supply chain analysis that provides in-depth information about the value chain margins and the role of various stakeholders across the value chain. Market dynamics provided in the market study include market drivers, restraints/ challenges, trends, and their impact on the market throughout the analysis period.

In the competition analysis section, the global rare disease drug market provides a detailed competition benchmarking analysis based on the market share of the leading companies/brands/producers/suppliers, a market structure overview with detailed company profiles of more than 25 players with their financials, product/service offerings, major developments, business models, etc. This enables, clients and report buyers to make strong, precise, and timely decisions.

Explore more about this report - Request for Sample and Scope of the Study

Global Rare Disease Drug Market: Segmental and Market Share Analysis

On the basis of type, non-biologics drug segment is set to register over 10% CAGR through the forecast period on account of their immunogenicity and minimal side effects. Rare disease drug market share for non-biologics is growing rapidly as the number of chronic cases increases.

Based on application, the oncology segment is dominating the market share due to the high prevalence of rare cancers, significant unmet medical needs, regulatory incentives, advances in precision medicine, and strong market potential.

Macroeconomic Scenario and the Impact of COVID-19 on Regional Economic Sentiment

In the latest RationalStat analysis, geopolitical conflicts and inflation are the cited economic risks, while concerns about the volatility across energy sectors prevail in Europe and other parts of the world. Some of the potential risks to the economic growth in the leading regions, including Asia Pacific, Europe, North America, the Middle East & Africa, and other developing regions, are inflation, volatile energy prices, supply chain disruptions, geopolitical instability, labor shortages, rising interest rates, and COVID-19 pandemic.

The global economy experienced heavy headwinds, throughout 2019-2021, as some countries witnessed subdued growth, while other countries continued to grapple with economic slowdowns. The COVID-19 pandemic has levied undue pressure across the majority of industries globally and has caused a major economic crisis in the US, India, Italy, the UK, Germany, India, Japan, South Korea, the UK, and many others. Besides, the exit of the UK from the European Union earlier in 2020 and the Russo-Ukraine war in 2022 exacerbated the ever-heightened global uncertainty.

In addition to this, the global economic growth slowed in 2022 to 3.3%, weaker than expected at the end of 2021, mainly weighed down by Russia’s war in Ukraine and the associated cost-of-living crisis in many countries. However, improvement in economic activities during the forecast period is expected. Growth is projected to remain at lower rates in 2023 and 2024, at 2.6% and 2.9% respectively.

Competition Analysis and Market Structure

These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players.  Some of the key developments in the global rare disease drug market include,

  • In 2020, Orphan Technologies was acquired for $90 million by the American biotech company Retrophin Inc. Included in this arrangement is OT-58, a brand-new enzyme replacement treatment that is now undergoing Phase 1/2 trials to treat classic homocystinuria.
    • The acquisition increases the availability of first-in-class potential therapies for uncommon diseases. A Swiss-based biopharmaceutical business called Orphan Technologies is in the clinical stages of developing OT-58.

Some of the prominent players that contribute significantly to the global rare disease drug market growth include AbbVie Inc., AstraZeneca, Amgen Inc., Baxter, Bayer AG, Biomarin Pharmaceuticals, Bristol-Myers Squibb Company, Eisai Co. Ltd, Eli Lilly and Company, Novartis AG, and among others.

To Know Macroeconomic Scenario and the Impact of COVID-19 on Regional Economic Sentiment- Request a free sample

RationalStat has segmented the global rare disease drug market based on type, application, and region

  • Global Rare Disease Drug Market Value (US$ Million), Volume (‘000 units/tons), and Market Share (2023-2028) Analysis by Type
    • Biologics
    • Non-biologics
  • Global Rare Disease Drug Market Value (US$ Million), Volume (‘000 units/tons), and Market Share (2023-2028) Analysis by Application
    • Genetic Diseases
    • Neurological Diseases
    • Oncology
    • Infectious Diseases
    • Cardiovascular Diseases
    • Others
  • Global Rare Disease Drug Market Value (US$ Million), Volume (‘000 units/tons), and Market Share (2023-2028) Analysis by Region
    • North America Rare Disease Drug Market
      • US
      • Canada
    • Latin America Rare Disease Drug Market
      • Brazil
      • Mexico
      • Rest of Latin America
    • Western Europe Rare Disease Drug Market
  • Leading Companies and Market Players
    • AbbVie Inc.
    • Amgen Inc.
    • Baxter
    • AstraZeneca
    • Bayer AG
    • Biomarin Pharmaceuticals
    • Bristol-Myers Squibb Company
    • Eisai Co. Ltd
    • Eli Lilly and Company
    • Novartis AG.

For more information about this report and its market players https://store.rationalstat.com/store/global-rare-disease-drug-market/               

Key Questions Answered in the Rare Disease Drug Report:

  • What will be the market value of the global rare disease drug market by 2028?
  • What is the market size of the global rare disease drug market?
  • What are the market drivers of the global rare disease drug market?
  • What are the key trends in the global rare disease drug market?
  • Which is the leading region in the global rare disease drug market?
  • What are the major companies operating in the global rare disease drug market?
  • What are the market shares by key segments in the global rare disease drug market?

Explore Our Trending Reports

Research Methodology

RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.

RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:

  • Defining the problem by understanding the type of market and data required by the client.
  • Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
  • Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
  • Evaluating and analyzing the data by referring to data sources utilized and leveraged.
  • Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

To get any Deep Down Insight on the Report- Raise a Query

About RationalStat LLC                    

RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.

RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.

Contact

RationalStat LLC

Kimberly Shaw,

Content and Press Manager

sales@rationalstat.com

US Phone: +1 302 803 5429

UK Phone:  +44 203-287-1245

LinkedIn | FacebookTwitterInstagramPinterest