Rapid growth from $1.64 billion in 2017 to $6.07 billion in 2024 is expected in the global orphan and rare dermatology premium products market, according to business intelligence provider, GBI Research.
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In its latest report — Global Orphan and Rare Dermatology Drugs Market to 2024 — GBI Research has identified the changing trends in the orphan and rare dermatology market with a particular focus on systemic sclerosis (scleroderma), alopecia, epidermolysis bullosa, pemphigus Vulgaris, vitiligo and cutaneous lupus erythematosus.
“Many orphan and rare dermatology disorders are associated with significant quality of life impairments, particularly if the disease is insufficiently controlled,” commented Philippa Salter, analyst for GBI Research. “However, the current therapeutics market is a highly genericised therapy area and therefore small, but this is set to change as many new products will enter the market during the forecast period, including treatments for diseases that currently have no effective treatment options.”
Additionally, the research revealed that the number of companies with a market share in the orphan and rare dermatology therapy area is expected to more than double over the forecasted period.
“Many of the companies which are entering the orphan and rare dermatology market over the forecast period are smaller companies with more specialized product portfolios,” continued Salter. “In 2017 only one company was generating more than 10% of its overall revenue from the orphan and rare dermatology therapy area. However, by 2024 there will be several companies generating more than 85% of their revenue from the therapy area.”
Furthermore, the report demonstrated that the pipeline of innovation is moving towards addressing the significant unmet need for more efficacious and safer treatment options that target the underlying causes of disease as opposed to managing the symptoms.
“Across orphan and rare dermatological diseases, there is a strong need for innovation and development of effective disease-modifying drugs,” Salter concluded. “This is reflected by the pipeline of 262 active products for orphan and rare dermatology diseases, which is reasonably large considering how rare most of the disorders are.”