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.
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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.
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.
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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.
Companies Profiled
- Pfizer Inc.
- Novartis AG
- Merck KGaA
- 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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