Rare Disease Treatment Market is anticipated to grow considerably through 2032 owing to the increasing prevalence of rare diseases across the globe. According to reports, there are almost 7,000 classified rare diseases, and approximately 70% are uncurable. In addition, several unknown diseases require more understanding and research to educate people regarding their occurrence. Besides, in the European Union, rare disease treatments are among the most active and fastest growing areas in drug R&D.

Additionally, key providers in the rare disease treatment industry are engaging in partnerships, mergers, and acquisitions and launching new products to stay competitive in the overall market. To cite an instance, in 2020, AstraZeneca Plc, one of the leading drugmakers, acquired rare-disease specialist Alexion Pharmaceuticals Inc. in a deal worth USD 39 billion. With this acquisition, the firm will add treatment for uncommon blood and immunological disorders to its portfolio.

Overall, the rare disease treatment industry is segmented in terms of drug type, therapeutic area, patient, route of administration, and region.

Based on the therapeutic area, the cancer segment accounted for over USD 94 billion in 2022 and is anticipated to grow considerably through 2032. The segmental growth will be due to the rising prevalence of rare cancer disorders across the globe. As per National Cancer Institute reports, rare cancer cases account for more than 25% of all cancer cases in the U.S.

In terms of the route of administration, the oral segment accounted for 55% revenue share in 2022. The oral route of administration is simple, convenient, safe, pain-free, self-administered, economical, requires no sterile precautions, and poses a minimal danger of acute drug reaction. These attributes are anticipated to propel its adoption in the ensuing years.

Regionally, the Asia Pacific rare disease treatment industry is projected to grow at over 11% CAGR from 2023 to 2032. Increasing cases of rare diseases, rising awareness for precise disease treatment, and favorable government policies are key factors supporting market expansion in this region. Besides, the development of manufacturing and medical operations, along with rising healthcare costs will also act as a key factor fueling the growth. As per IBEF, India’s public spending on healthcare stood at 2.1% of the GDP in 2021-2022.

Furthermore, increasing privatization, expanding health insurance penetration, the constant shift towards attracting skilled health care providers, and an increasingly aging population more prone to several rare diseases will positively influence the overall industry outlook in the region.