RARE DERMATOLOGICAL DISEASES
Rare diseases affect approximately 30 million people in the European Union and 25-30 million in USA, representing a major health issue still to be addressed.
Among them, over 1000 rare skin diseases are known, many of which are of genetic origin and manifest in childhood. Children who experience these skin conditions have high rates of complications resulting in long and costly hospital stays and strong psychological impact. There exists a significant unmet need for more efficacious and safer treatment options that treat the underlying cause of disease as opposed to managing the symptoms.
Some orphan and rare dermatological diseases do not have any effective treatments on the market, including epidermolysis bullosa and Hailey Hailey disease.
The orphan and rare dermatology premium products market is projected to grow rapidly from $1.64bn in 2017 to $6.07bn in 2024, at a compound annual growth rate (CAGR) of 20.54%.
The premium products market size in the US is expected to increase from $794m in 2017 to $2.73bn in 2024, at a CAGR of 19.3%, accounting for just under half of the global orphan and rare dermatology market.