02 March 2021
Visiongain has published a new report on Rare Diseases Market Report 2021-2031: Forecasts by Drugs (Revlimid, MabThera/Rituxan, Opdivo, Imbruvica, Sprycel, Tasigna, Copaxone, Rebif), by Disease (Rare Oncology Diseases, Rare Metabolic Diseases, Rare Neurologic Diseases, Rare Haematology Diseases, Rare Infectious Diseases, Other Rare Diseases), by Type (Non Biologics, Biologics), by Age (Adult, Pediatric), by End-use (Specialty Pharmacies, Hospital Pharmacies, Retail Pharmacies) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Recovery Scenarios.
According to Visiongain analysis, global rare diseases market is estimated to be valued at US$ xx billion in 2020. The global market is expected to witness a CAGR of xx% from 2021 to 2026 and is expected to reach US$ xx billion in 2026 from its previous value of US$ xx billion in 2021. Visiongain further anticipates that the global rare diseases market will reach US$ xx billion in 2031 while growing at a CAGR of xx% from 2021 to 2031.
COVID-19 Impact on 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.
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 newborn 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.
On the basis of 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. Rare Oncology Diseases segment dominated the global market by contributing xx in 2021 and is likely to grow at a CAGR of xx% from 2021-2031. 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.
1. Pfizer Inc.
2. Novartis AG
3. Merck KGaA
4. F. Hoffmann-La Roche Ltd.
5. Amgen Inc.
6. Biogen Inc.
7. Teva Pharmaceuticals
8. Alexion Pharmaceuticals, Inc.
9. Sanofi S.A.
11. Bristol Myers Squibb
12. Takeda Pharmaceuticals
14. Johnson & Johnson Services, Inc.
Notes for Editors
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