Visiongain has published a new report on “Rare Disease Market Forecast 2021-2031: By Drugs (Revlimid, MabThera/Rituxan, Opdivo, Imbruvica, Sprycel, Tasigna, Copaxone,Rebif, Gleevec, Velcade, Others), Disease (Rare Oncology Diseases, Rare Metabolic Diseases, Rare Neurologic Diseases, Rare Hematology Diseases, Rare Infectious Diseases, Other Rare Diseases) Type (Non Biologics, Biologics) Age (Adult, Pediatric) End Use (Specialty Pharmacies, Hospital Pharmacies, Retail Pharmacies), by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) Plus COVID-19 Recovery Scenarios
Visiongain’s lead analyst says: ‘The global rare disease market was valued at US$179.56 billion in 2021 and is expected to reach US$623.73 billion by 2031’.
What has been the impact of COVID-19 on the Rare Disease Market?
COVID-19 pandemic has wreaked havoc on the global economy and disrupted the flow of trade since the coronavirus spread in late 2019. As lockdowns were imposed in all the countries, diagnosis rates went down in majority of countries during the year hitting the drug sales for some period. Although lockdown measures have been eased up in most countries by mid-year 2020, this trend is expected to continue beyond 2020, stock up of medicines by patients is likely to propel the drug sales in majority of the developed economies, which account for majority of rare diseases.
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Key highlights about rare diseases market:
• Majority of rare diseases effect new born and are diagnosed before the age of 5 years
• Genetic testing finds major application in diagnosing variety of rare diseases
• Rising number of new born screenings is expected to increase the diagnosis rate of rare diseases
• Prenatal screening finds its application in diagnosing Trisomy 13, Trisomy 18 and Edward’s disease
Regional Analysis:
Based on regions, the global rare diseases market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. According to Visiongain analysis, North America dominated the global rare diseases market and is predicted to do over the forecast period. The market dominance is attributed to due to high number of approved drugs, high awareness levels regarding diagnosis and management of diseases.
Furthermore, government funds for geriatric population is also one of the major reason for North America being dominant across the globe. However, APAC region is projected to witness highest growth rate over the forecast period owing to increasing growth of prenatal as well as new born screenings in countries such as India, Thailand, Singapore, and many more. Rising geriatric population coupled with increasing awareness regarding symptoms, diagnosis is anticipated to fuel the regional market over the study period.
Disease Analysis:
Based on disease, the global rare disease market has been divided into has been segmented based on rare oncology diseases, rare metabolic diseases, rare neurologic diseases, rare hematology diseases, rare infectious diseases, other rare diseases. The rare oncology segment is likely to grow owing to rising number of rare cancers coupled with large pool of clinical trials being conducted in the U.S. and Europe for the same.
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How the Rare Disease Market report helps you
In summary, our 330+ page report provides you with the following knowledge:
• Revenue forecasts to 2031 for rare disease Market growth, with forecasts for disease and end use, each forecasted at a global and regional level– discover the industry’s prospects, finding the most lucrative places for investments and revenues
• Revenue forecasts to 2031 for 5 regional and 17 key national markets– See forecasts for the rare disease market in North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. Also forecasted is the market in the U.S., Canada, UK, France, Germany, Italy, Spain, Russia, Denmark, Netherland, Japan, India, China, Brazil, Mexico, South Africa, and UAE among other prominent economies.
• Prospects for established firms and those seeking to enter the market– including company profiles for 15 of the major companies involved in the rare disease Market. Some of the companies profiled in this report are Pfizer Inc., Novartis AG, Merck KGaA, F. Hoffmann-La Roche Ltd, Amgen Inc., Biogen Inc., Teva Pharmaceuticals, Alexion Pharmaceuticals, Inc., Sanofi S.A., AbbVie, Bristol Myers Squibb, Takeda Pharmaceuticals, Roche, Johnson & Johnson Services, Inc.
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Visiongain is one of the fastest growing and most innovative, independent, market intelligence around, the company publishes hundreds of market research reports which it adds to its extensive portfolio each year. These reports offer in-depth analysis across 18 industries worldwide. The reports cover a 10-year forecast, are hundreds of pages long, with in depth market analysis and valuable competitive intelligence data. Visiongain works across a range of vertical markets, which currently can influence one another, these markets include automotive, aviation, chemicals, cyber, defense, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors. Our customized and syndicated market research reports means that you can have a bespoke piece of market intelligence customized to your very own business needs.
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