Growing product pipelines and government support for rare disease treatments is expected to drive the growth of the global market by 11.6% per year from $216.2 billion in 2024 to $374.4 billion by 2030.

Many rare disease treatments in the market are biologics, with one example being Sanofi’s Dupixent (dupilumab), which was greenlit by the U.S. Food and Drug Administration (FDA) in June this year for the treatment of adult patients with a condition called bullous pemphigoid. However, of the more than 10,000 known rare diseases affecting 400 million people across the globe, only 5% of those conditions have an approved treatment, leaving a lot of room for more innovation.

Rare diseases are generating interest from big pharma companies, with notable examples including the $1.05 billion

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