Selbyville, Delaware, Nov. 19, 2020 (GLOBE NEWSWIRE) --
According to latest report “Rare Disease Treatment Market by Drug Type (Biologics, Non-biologics), Therapeutic Area (Cancer, Blood-related Disorders, Central Nervous System (CNS), Respiratory Disorders, Musculoskeletal Disorders, Cardiovascular Disorders), Patient (Adult, Pediatric), Route of Administration (Oral, Injectable), Regional Outlook, Price Trends, Competitive Market Share & Forecast 2026”, by Global Market Insights, Inc., the market valuation of rare disease treatment will cross $317 billion by 2026.
Increase in the number of rare diseases across the world will foster the market growth in the coming years. According to the National Institutes of Health (NIH), approximately 30 million Americans suffer from one of the 7,000 rare disorders and only 5% of the rare disorders have treatments. Pediatric population is prone to rare disorders and therefore, there is a consistent demand for development of novel therapeutic drugs in order to treat rare disorders. With emergence of new rare genetic disorders due to radiation exposure, the research and development on rare disease characteristics has significantly increased in the last few years.
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Biologics segment in the rare disease treatment market is expected to witness around 10% growth rate till 2026. Biologic drugs are produced from living organisms and are more effective as compared to other drugs. These drugs have the potential to provide accurate and effective treatment to the patients by employing gene therapy. Patients consuming biologic drugs experience an active and healthy lifestyle. The cost of several biologic drugs is covered by the medical insurance, thus enabling patients to access effective treatments.
The rare disease treatment market for musculoskeletal segment valued at more than USD 5.4 billion in 2019. Musculoskeletal disorders are leading cause of disability across the globe and with gradual emergence of rare musculoskeletal disorders, the concern for availability of effective therapies is increasing. Several research and development institutions and biopharmaceutical industries are collaborating to develop effective novel drugs. Moreover, the increasing demand for better management of adult patients with rare musculoskeletal disorders is spurring the development of novel therapies.
Pediatric patient segment in the rare disease treatment market is estimated to grow at 12.5% CAGR through 2026. According to a published report, majority of the patients suffering from rare disorders are children as 70% of these disorders have pediatric onset. Thus, the demand for effective treatment for rare disorders is projected to increase in the future. Pediatric patients, specifically patients suffering from rare disorders face life-threatening challenges, late diagnosis and have fewer approved treatment options.
Oral route of administration in the rare disease treatment market exceeded USD 80.2 billion in 2019. Oral route of administration is majorly preferred for drug consumption because it is convenient, non-invasive and cost-effective as compared to the injectable administration. Additional benefits associated with oral route of administration are patient safety and ease of ingestion along with no pain during drug administration. Therefore, the adoption of oral route of administration is significantly increasing among the patient population, thereby leading to development of novel oral drugs for rare diseases.
Brazil rare disease treatment market is poised to expand at 12.8% CAGR during 2020 to 2026 owing to the improving public healthcare system in the country. According to a published article of Orphanet Journal of Rare Diseases, presently around 25% of Brazilian population has health insurance coverage. Thus, the patient population can have easy access to the diagnostic procedures and treatments available for rare diseases. As a result, the major market players in the country are focusing towards development of novel therapeutic drugs. Government authorities in the country are also introducing measures to focus on treatment of rare diseases. The Brazilian Health Authorities (ANVISA) has established a procedure for the approval of clinical trials for the treatment, diagnosis and prevention of rare diseases.
Some of the major participants operating in the rare disease treatment market are AbbVie Inc., Actelion Pharmaceuticals Ltd, Alexion Pharmaceuticals, Inc., Celgene Corporation, Bayer AG, Johnson & Johnson Services, Inc., Novartis AG, Pfizer Inc, Sanofi and Eli Lilly and Company among others. These companies are undertaking strategic initiatives such as acquisitions, mergers, collaborations and partnerships in order to launch new products and strengthen their industrial position.
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Table of Contents (ToC) of the report:
Chapter 3 Rare Disease Treatment Market Insights
3.1 Industry segmentation
3.2 Industry landscape, 2015 - 2026 (USD Million)
3.3 Industry impact factors
3.3.1 Growth drivers
3.3.2 Industry pitfalls & challenges
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
3.7 Porter’s analysis
3.8 Competitive landscape, 2019
3.8.1 Competitive matrix analysis
3.9 PESTEL analysis
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About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.