GLOBAL HEREDITARY OROTIC ACIDURIA MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Market Challenges And Opportunities

• Government support in the form of funding for rare disease research
• Focus on the development of orphan drugs
• Increasing research and development investments by key players

• High cost of treatment
• Lack of awareness in developing regions

Global Hereditary Orotic Aciduria Market Drivers:

• Government support in the form of funding for rare disease research: Government support is playing a crucial role in driving the growth of the global hereditary orotic aciduria market. Many countries have recognized rare diseases as a serious public health concern and have launched various initiatives and programs to support research in these areas. For instance, in January 2020, the National Health Commission established an office for the National Network for Collaboration in Rare Disease Diagnosis and Treatment in order to enhance the organization and management of the National Network for Rare Disease Diagnosis and Treatment, to facilitate collaboration and to effectively fulfil the overall role of a collaborative network.
• Focus on the development of orphan drugs: Development of orphan drugs is a major factor driving the growth of the global hereditary orotic aciduria market. Orphan drugs are pharmaceutical agents intended for rare medical conditions termed as orphan diseases, which affect a small percentage of population. Hereditary orotic aciduria is an ultra-rare genetic disorder characterized by an inability to metabolize orotic acid.
• Increasing research and development (R&D) investments by key players: Increasing investments in research and development by leading pharmaceutical players is a major factor driving the growth of the global hereditary orotic aciduria market. Hereditary orotic aciduria is a rare metabolic disorder characterized by an inability to break down orotic acid, which leads to a buildup of orotic acid in the blood and urine. As there are no approved treatments available, it represents an area of high unmet need.

Global Hereditary Orotic Aciduria Market Opportunities:

• Growth opportunities in developing countries: Developing countries present a significant growth opportunity for the global hereditary orotic aciduria market. Countries such as India, China, Brazil, and others are experiencing rapid economic development and population growth. As incomes rise in these nations, access to advanced healthcare and diagnostic testing is also improving. With larger populations that are becoming more able to afford treatment, developing markets allow for substantial scale and market expansion potential in the near future.
• Increasing awareness about rare disease: Increasing awareness about rare disease is expected to drive the growth of the market over the forecast period. For instance, in November 2023, 13 Canadian rare disease organizations, in partnership with Takeda Canada Inc., a pharmaceutical company united to launch I Am Number 12, to raise awareness of the 1 in 12 Canadians who were affected by a rare disease in their lifetime. The campaign highlights the challenges and needs of people living with rare diseases, and how collectively, rare diseases are not really that rare.