Rare Disease Clinical Trials Market Report Latest Trends and Future Opportunities Analysis

InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the "Global Rare Disease Clinical Trials Market Size, Share & Trends Analysis Report By Therapeutic Area (Oncology, Cardiovascular Disorders, Neurological Disorders, Infectious Disease, Genetic Disorders, Autoimmune and Inflammation, Hematologic Disorders, Musculoskeletal Disorders), Phase (Phase I, II, III, and IV), And Sponsor (Pharmaceutical & Biopharmaceutical Companies, Non-profit Organizations)- Market Outlook And Industry Analysis 2031"

The global Rare Disease Clinical Trials market is estimated to reach over USD 25.05 billion by 2031, exhibiting a CAGR of 9.39% during the forecast period.

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The global suspension of elective treatments, including diagnostic and therapeutic procedures, due to the COVID-19 pandemic had a significant impact on the market for rare disease treatments. A review published in the Frontiers in Public Health journal in April 2021 highlighted the challenges faced by individuals with rare disorders, concluding that regular clinical care, counseling, and therapies were insufficient during the pandemic. The interruption of research projects and clinical trials for rare and genetic diseases further exacerbated the difficulties faced by clinicians, researchers, and scientists in this field. However, as restrictions were lifted, the market began to recover and is expected to experience steady growth throughout the forecast period.

Additionally, factors such as increased research and development activities for novel therapeutics and drugs, a rise in the number of new drug launches, the growing prevalence of rare diseases, supportive vaccination initiatives, and favorable government policies are all contributing to the ongoing expansion of the market.

List of Prominent Players in the Rare Disease Clinical Trials Market:
• Takeda Pharmaceutical Company;
• F. Hoffmann-La Roche Ltd.;
• Pfizer, Inc.;
• AstraZeneca;
• Novartis AG;
• LabCorp;
• IQVIA, Inc.;
• Charles River Laboratories;
• Icon PLC;
• Parexel International Corporation

Market Dynamics:
Drivers-
The market for rare disease treatments is expanding due to several key factors, including advancements in treatment innovation, increasing product approvals, and strategic collaborations and acquisitions by major companies. For example, the European Medicines Agency (EMA) approved Xenpozyme (olipudase alfa) in May 2022 for the treatment of non-central nervous system (CNS) aspects of Acid Sphingomyelinase Deficiency (ASMD), a rare and progressive genetic disorder.

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Challenges:
A significant challenge in the clinical trials for rare diseases is the need for multicenter, often international, studies to ensure sufficient patient recruitment, particularly in phases I and II. This requirement can complicate the coordination of procedures, ethical reviews, indemnity agreements, clinical service organization, and cultural diversity considerations. Additionally, the burden on patients is heightened by the trial's demands, such as taking additional medications, maintaining diaries, and documenting symptoms or adverse effects, which can further complicate their disease management.

Regional Trends:
North America is expected to maintain a dominant share of the global rare disease treatments market, driven by the high prevalence of rare diseases such as Huntington's disease, spina bifida, fragile X syndrome, Guillain-Barré syndrome, Crohn's disease, cystic fibrosis, and Duchenne muscular dystrophy. The region benefits from heightened awareness of these diseases and a robust healthcare system capable of diagnosing and treating rare conditions.

According to the Genetic and Rare Diseases (GARD) Information Center, approximately 7,000 rare diseases are identified, with one in ten Americans-about 30 million people-affected by one. Similarly, the Canadian Organization for Rare Disorders (CORD) reported in 2021 that one in twelve Canadians is impacted by a rare disease annually, with genetic mutations responsible for 80% of these cases. As a result, the market in North America is poised for substantial growth in the coming years.

Recent Developments:
• In January 2023, Genethon, an R&D company, began a crucial clinical trial for the use of gene therapy to treat Crigler-Najjar Syndrome. Crigler-Najjar syndrome is a rare genetic liver disease marked by abnormally elevated bilirubin levels in the blood. (hyperbilirubinemia).
• In November 2022, The Biologics License Application (BLA) for PRX-102 (pegunigalsidasealfa) for the treatment of adult patients with Fabry disease was re-submitted to the US Food and Drug Administration (FDA) by ProtalixBiotherapeutics Inc. and Chiesi Global Rare Diseases.

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Segmentation of Rare Disease Clinical Trials Market-
By Therapeutic area-
• Oncology
• Cardiovascular Disorders
• Neurological Disorders
• Infectious Disease
• Genetic Disorders
• Autoimmune and Inflammation
• Hematologic Disorders
• Musculoskeletal Disorders
• Others
By Phase-
• Phase I
• Phase II
• Phase III
• Phase IV
By Sponsor-
• Pharmaceutical & Biopharmaceutical Companies
• Non-profit Organizations
• Others
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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This release was published on openPR.