Rare Disease Diagnostics Market Size, Trends & Forecast 2024-2033

"The Business Research Company recently released a comprehensive report on the Global Rare Disease Diagnostics Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=12651&type=smp

According to The Business Research Company's, The rare disease diagnostics market size has grown strongly in recent years. It will grow from $32.15 billion in 2023 to $35 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to the rise in demand for cloud-based diagnostics, increased focus on improving efficiency, increased prevalence of neurological disease, increased immunological disorders, increased healthcare spending.

The rare disease diagnostics market size is expected to see strong growth in the next few years. It will grow to $49.94 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%. The growth in the forecast period can be attributed to increasing prevalence of rare diseases, increasing government initiatives, increasing number of hospitals and diagnostic laboratories, growing hematology diseases, increasing healthcare infrastructure. Major trends in the forecast period include advancements in genetic testing technologies, introduction of whole-genome sequencing and next-generation sequencing (ngs), extensive investments, strategic collaborations for research initiatives.

Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/rare-disease-diagnostics-global-market-report

Market Drivers and Trends:

The increasing incidence of rare diseases is expected to propel the growth of the rare disease diagnostics market going forward. A rare disease refers to a low-prevalence health issue that, in comparison to other common diseases in the population, only affects a tiny number of people. Rare disease diagnostics help in the better management of the disease, the identification of potential therapeutics, and the avoidance of unnecessary treatments that may have severe side effects that aid in efficacious treatment. For instance, in February 2021, according to the International Osteoporosis Foundation (IOF), a Switzerland-based government organization, more than 300 million people in the world suffered from rare diseases, which affect 3.5% to 5.9% of the world's population. Furthermore, in November 2022, according to Health Match, an Australia-based digital health company, there are around 150 rare kidney ailments, and these diseases have a high prevalence around the world, with 60-80 incidences per 100,000 people in America and Europe. Therefore, the increasing incidence of rare diseases is driving the growth of the rare disease diagnostics market.

Advancements in technology are a key trend gaining popularity in the rare disease diagnostics market. Major companies operating in the rare disease diagnostics market are adopting new technologies to sustain their position in the market. For instance, in April 2023, Centogene GmbH, a Germany-based rare disease company, launched CentoGenome, a whole genome sequencing solution for the diagnosis of rare and neurodegenerative diseases. CentoGenome is an enhanced next-generation sequencing (NGS)-based assay that offers whole genome sequencing (WGS) tests for both rare and neurodegenerative disorders, covering almost all disease-causing variants in a single assay. Additionally, it has the best sensitivity for detecting Copy Number Variations (CNVs) linked with Spinal Muscular Atrophy (SMA), as well as complicated disease-causing variations associated with Gaucher Disease (GD) and susceptibility to GBA1-related Parkinson's Disease (PD). Centogenome's implementation of PCR (polymerase chain reaction)-free technology in difficult-to-sequence genomic areas will greatly minimize bias and offer high-quality sequencing data, allowing for a deeper understanding of coding, regulatory, and intronic regions.

Key Benefits for Stakeholders:

• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.

Major Key Players of the Market:

Thermo Fisher Scientific Inc., Roche Diagnostics, Laboratory Corporation of America Holdings, Quest Diagnostics Incorporated, Astellas Pharma Inc., Eurofins Scientific SE, Agilent Technologies Inc., PerkinElmer Inc., Sanofi Genzyme, Illumina Inc., Bio-Rad Laboratories Inc., Qiagen NV, BioMarin Pharmaceutical Inc., OPKO Health Inc., Sarepta Therapeutics Inc., Natera Inc., Invitae Corporation, Ultragenyx Pharmaceutical Inc., Travere Therapeutics Inc., BGI Genomics Co. Ltd., 23andMe Holding Co., Ambry Genetics Corporation, Centogene N.V., GENEWIZ Inc., Blueprint Genetics Inc., Oxford Gene Technology Limited, Strand Life Sciences Pvt. Ltd., Agios Pharmaceuticals Inc., Orphazyme A/S, RareCyte Inc.

Rare Disease Diagnostics Market 2024 Key Insights:

• The rare disease diagnostics market size is expected to see strong growth in the next few years. It will grow to $49.94 billion in 2028 at a compound annual growth rate (CAGR) of 9.3%.
• A Surge In Rare Disease Incidence And Diagnostics
• Technological Advancements Reshaping Diagnostics
• North America was the largest region in the rare disease diagnostics market in 2023

We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=12651&type=smp

Contact us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Latest Trending Press Releases: https://www.thebusinessresearchcompany.com/press-release.aspx

Learn More About The Business Research Company

The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

This release was published on openPR.