CAGR of 20.5% predicted for orphan and rare dermatology premium products market

The global orphan and rare dermatology premium products market is expected to grow rapidly from $1.64 billion in 2017 to $6.07 billion in 2024, at a compound annual growth rate (CAGR) of 20.5%, according to GBI Research, a business intelligence provider.

The company’s latest report ‘ Global Orphan and Rare Dermatology Drugs Market to 2024’ identifies the changing trends in the orphan and rare dermatology drugs market with particular focus on systemic sclerosis (scleroderma), alopecia, epidermolysis bullosa, pemphigus vulgaris, vitiligo and cutaneous lupus erythematosus.

GBI Research analyst Philippa Salter commented: “Many orphan and rare dermatology disorders are associated with significant quality of life impairments, particularly if the disease is insufficiently controlled. However, the current therapeutics market is a highly genericized 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.”