Rare Disease Treatment Market Rising Trends, Territorial Outlook and Industry Growth Prospects 2020-2026
The Rare Disease Treatment Market is poised to accumulate noteworthy gains in coming years owing to the growing prevalence of rare diseases across the world. As per National Institutes of Health, nearly 30 million people in America suffer from one of the 7,000 rare diseases with only 5% of the rare disorders having substantial treatment options. The surging focus on research activities and development of novel therapeutic drugs has further elevated the rare disease treatment market value.
Favorable government policies and measures for the treatment
of rare disorders will also contribute towards market growth in the years to
come. These initiatives are driving new drug launches across developed regions,
which is expected to positively impact the rare disease treatment market
growth. In fact, major diagnostic companies have been actively engaged in
expanding their product portfolio recently. Citing an instance, in November
2020, Amylyx Pharmaceuticals, a leading pharmaceuticals company focused towards
development of novel treatments for Alzheimer’s disease, ALS, as well as other
neurodegenerative diseases, reportedly announced that its drug candidate for
treating Wolfram syndrome, AMX0035, was granted orphan drug designation by the
U.S. FDA.
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AMX0035 is specifically designed to target ER
stress, with preclinical data suggesting that it might be a highly promising
approach to stop the irreversible optic nerve atrophy progression in Wolfram
syndrome patients.
Global
Market Insights, Inc., estimates that the rare disease treatment market would
surpass $317 billion by 2026.
With
respect to route of administration, in 2019, the oral route of administration
segment held a considerable market share and exceeded a valuation of more than
$80.2 billion. Oral route of administration is highly preferred for consumption
of drug since it is convenient, cost-effective, and non-invasive in comparison
to other injectable administration. The segment is also driven by the
additional benefits associated with the administration method, such as ease of
ingestion, and safety of patients. Consequently, preference for the oral route
of administration is rapidly increasing among patients, which would effectively
lead to substantial development of novel oral drugs.
On the
geographical front, Brazil dominated the overall rare disease treatment market
in Latin America and is estimated to expand at a CAGR of more than 12.8% over
the projected time frame. This anticipated growth is ascribed to the improving
public healthcare infrastructure across the country. Regional government
authorities are introducing various measures to focus on treatment of rare
diseases. The Brazilian Health Authorities (ANVISA) has set up a standard
procedure for the approval of clinical trials for the treatment, diagnosis, as
well as prevention of rare diseases. In addition, major key players in the
country are actively focusing towards the development of new therapeutic drugs.
The afore-mentioned factors are likely to fuel the regional rare diseases
treatment market growth in the years to come.
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At
present, prominent industry players are implementing numerous strategic
initiatives such as mergers, partnerships, and collaborations in order to
expand their offerings and subsequently strengthen their presence in the
market. Citing an instance, in November 2020, Evox Therapeutics Ltd, a renowned
exosome therapeutics company, reportedly announced the launch of a new
collaboration largely focused on rare diseases with the Oxford-Harrington Rare
Disease Centre, University of Oxford rooted within the Pediatrics department.
This
collaboration would run over a period of three years and would capitalize on
the top-class research environment in Oxford, using exosome therapeutics
expertise as well as resources from both the University and Evox to fuel
innovation within rare disease drug development.
Such
unique collaborations would bring in new treatment options and further shape
the market in the coming years.
Eli Lilly
and Company, Bayer AG, Sanofi, Actelion Pharmaceuticals Ltd, Novartis AG,
Celgene Corporation, AbbVie Inc., Johnson & Johnson Services, Inc., Alexion
Pharmaceuticals, Inc., and Pfizer Inc among many others are some of the key
players operating in the rare disease treatment market.
Browse key industry insights spread
across 230 pages with 231 market data tables and 18 figures & charts from
the report, Rare Disease Treatment Market in detail along with the table
of contents:
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Report Content
Chapter 3 Rare Disease
Treatment Industry Insights
3.1 Industry segmentation
3.2 Industry
landscape, 2015 - 2026 (USD Million)
3.3 Industry impact
factors
3.3.1 Growth drivers
3.3.1.1 Increase in
number of rare disease cases across the globe
3.3.1.2 Favourable
government policies
3.3.1.3 Growing number
of new drug launches
3.3.1.4 Increasing
R&D activities for novel therapeutics and drugs
3.3.2 Industry
pitfalls & challenges
3.3.2.1 Lack of
awareness regarding rare disease treatment
3.3.2.2 High cost of
the drugs and therapy
3.4 Growth potential
analysis
3.4.1 By drug type
3.4.2 By therapeutic
area
3.4.3 By patient
3.4.4 By route of
administration
3.5 COVID-19 impact
analysis
3.6 Regulatory
landscape
3.6.1 U.S.
3.6.2 Europe
3.6.3 Asia Pacific
3.7 Porter’s analysis
3.8 Competitive
landscape, 2019
3.8.1 Competitive
matrix analysis
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