Unraveling the Growth Trajectory: Rare Disease Diagnostics Market Trends and Key Drivers

The Business Research Company’s Rare Disease Diagnostics Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Rare Disease Diagnostics Global Market Report 2023 evaluates rare disease diagnostics market size, growth rate, drivers, trends, and major companies.

The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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The global rare disease diagnostics market is expected to grow from $29.62 billion in 2022 to $32.15 billion in 2023 at a compound annual growth rate (CAGR) of 8.55%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The rare disease diagnostics market is expected to reach $45.26 billion in 2027 at a CAGR of 8.92%.

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.

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The rare disease diagnostics market segments in the report are:
1) By Test Type: Genetic Test, General Lab Test, Imaging Test
2) By Technology: Capillary Sequencing, Whole Genome Sequencing, Whole Exome Sequencing, Microarrays
3) By Sample Type: Deoxyribonucleic Acid (DNA) Sample, Buccal Swab Sample, Blood, Saliva
4) By Disease Type: Gastroenterology Disease, Endocrine And Metabolism Disorders Disease, Hematology And Oncology Disease, Dermatology Disease, Cardiovascular Disorders, Neurology Disease
5) By End User: Hospital Laboratories, Diagnostics Laboratories, Genetic Testing Laboratories, Cancer Research Laboratories

Major Players:

• Thermo Fisher Scientific Inc.
• Roche Diagnostics
• Laboratory Corporation of America Holdings
• Quest Diagnostics Incorporated
• Astellas Pharma Inc.

The table of contents in TBRC’s rare disease diagnostics market report includes:

1. Executive Summary
2. Rare Disease Diagnostics Market Characteristics
3. Rare Disease Diagnostics Market Trends And Strategies
4. Rare Disease Diagnostics Market – Macro Economic Scenario
5.Global Rare Disease Diagnostics Market Drivers and Restraints
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32. Global Rare Disease Diagnostics Market Competitive Benchmarking
33. Global Rare Disease Diagnostics Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Rare Disease Diagnostics Market
35. Rare Disease Diagnostics Market Future Outlook and Potential Analysis
36. Appendix

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