Dublin, July 02, 2024 (GLOBE NEWSWIRE) -- The "Rare Diseases Market Report 2024-2034" has been added to ResearchAndMarkets.com's offering.
World revenue for the Rare Diseases Market is forecast to surpass US$200 billion in 2024, with strong revenue growth through to 2034. The work identifies which organizations hold the greatest potential.
This report will prove invaluable to leading firms striving for new revenue pockets if they wish to better understand the industry and its underlying dynamics. It will be useful for companies that would like to expand into different industries or to expand their existing operations in a new region.
Advancements in R&D and Regulatory Incentives Driving Market Growth
The rare diseases market is driven by a convergence of factors that collectively shape its growth trajectory and impact. One pivotal driver is the increasing awareness and understanding of rare diseases among healthcare professionals, policymakers, and the general public. This heightened awareness leads to earlier diagnosis, improved access to treatment, and expanded support networks for patients and families.
Advancements in research and development, fuelled by both public and private investment, continuously expand the therapeutic landscape for rare diseases. Breakthroughs in areas such as gene therapy, precision medicine, and orphan drug development hold promise for addressing previously unmet medical needs.
Regulatory incentives and policies that encourage innovation and investment play a significant role in driving the rare diseases market forward. These include extended market exclusivity, expedited review processes, and financial incentives for drug development. Furthermore, the globalization of healthcare and the emergence of new markets, particularly in developing countries, present opportunities for market expansion and access to rare disease treatments. Collectively, these driving factors underscore the dynamic and multifaceted nature of the rare diseases market, fuelled by a commitment to improving outcomes for patients facing these challenging conditions.
High Entry Barriers Likely to Challenge Industry Growth
High entry barriers pose a significant challenge to the growth of the rare diseases market. The substantial costs and lengthy timelines associated with research and development deter new entrants, limiting competition and innovation. Additionally, stringent regulatory requirements and complex reimbursement processes further hinder market entry for potential therapies. These barriers create a formidable challenge for companies seeking to develop and commercialize treatments for rare diseases, constraining market growth and potentially limiting patient access to new therapies.
Market Dynamics
Market Driving Factors
- Increasing Number of Drug Approvals
- Robust Pipeline by Major Players
- Increasing Awareness Regarding Rare Diseases
Market Restraining Factors
- High Research and Development Cost
- High Entry Barriers to Challenge Market Growth
- Limited Patient Population
Market Opportunities
- Increasing Demand from Emerging Economies
- Increasing Government Support
- Advancement in Research and Development
Key Questions Answered
- How is the rare diseases market evolving?
- What is driving and restraining the rare diseases market?
- How will each rare diseases submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2034?
- How will the market shares for each rare diseases submarket develop from 2024 to 2034?
- What will be the main driver for the overall market from 2024 to 2034?
- Will leading rare diseases markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
- How will the market shares of the national markets change by 2034 and which geographical region will lead the market in 2034?
- Who are the leading players and what are their prospects over the forecast period?
- What are the rare diseases projects for these leading companies?
- How will the industry evolve during the period between 2024 and 2034? What are the implications of rare diseases projects taking place now and over the next 10 years?
- Is there a greater need for product commercialisation to further scale the rare diseases market?
- Where is the rare diseases market heading and how can you ensure you are at the forefront of the market?
- What are the best investment options for new product and service lines?
- What are the key prospects for moving companies into a new growth path and C-suite?
Forecasts to 2034 and other analyses reveal commercial prospects
- In addition to revenue forecasting to 2034, the new study provides you with recent results, growth rates, and market shares.
- You will find original analyses, with business outlooks and developments.
- Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising rare diseases prices and recent developments.
Segments Covered in the Report
Diseases
- Cancer
- Metabolic Diseases
- Neurological Conditions
- Hematologic Disorders
- Infectious Diseases
- Musculoskeletal Disorders
- Cardiovascular Disorders
- Others
Type
- Non Biologics
- Biologics
End-users
- Specialty Pharmacies
- Hospital Pharmacies
- Retail Pharmacies
Age Group
- Adult
- Pediatric
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for five regional and 25 leading national markets.
The report also includes profiles and for some of the leading companies in the Rare Diseases Market, 2024 to 2034, with a focus on this segment of these companies' operations.
Leading companies profiled in the report
- AbbVie Inc.
- Alexion Pharmaceuticals, Inc. (AstraZeneca)
- Amgen Inc.
- Amneal Pharmaceuticals LLC
- Biogen Inc.
- Bristol-Myers Squibb Company
- Chiesi Farmaceutici S.p.A.
- Dr. Reddy's Laboratories Ltd.
- F. Hoffmann-La Roche Ltd.
- Johnson & Johnson Services, Inc.
- Merck & Co Inc.
- Novartis AG
- Pfizer Inc.
- Sanofi
- Takeda Pharmaceutical Company Limited
- Teva Pharmaceutical Industries Ltd.
- Vertex Pharmaceuticals Incorporated
In summary, the report provides you with the following knowledge:
- Revenue forecasts to 2034 for the Rare Diseases Market, with forecasts for disease, type, end-users, and age group each forecast at a global and regional level - discover the industry's prospects, finding the most lucrative places for investments and revenues.
- Revenue forecasts to 2034 for five regional and 25 key national markets.
- Prospects for established firms and those seeking to enter the market - including company profiles for 17 of the major companies involved in the Rare Diseases Market.
For more information about this report visit https://www.researchandmarkets.com/r/aps679
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