Health Research Board

Global Rare Disease Clinical Trials Market Report 2023: Sector is Expected to Reach $24.25 Billion by 2030 at a CAGR of 9.7% - ResearchAndMarkets.com

Retrieved on: 
Wednesday, May 31, 2023
Pharmaceutical, Health, Clinical Trials, Orphan Drug Act of 1983, Volunteering, Allergy, Health Research Board, Infection, Research, USD, Bangladesh Technical Education Board, Organization, Cancer, Growth, Rare, III, NIH, Disease, Pharmaceutical industry

Government initiatives that encourage product development, such as the Orphan Drug Act, are further expected to assist industry growth.

Key Points: 
  • Government initiatives that encourage product development, such as the Orphan Drug Act, are further expected to assist industry growth.
  • According to the National Institutes of Health (NIH), there are more than 7,000 rare diseases worldwide.
  • The growing awareness among people regarding rare diseases and growing interest in developing potential treatments for treating rare diseases are expected to support market growth.
  • For instance, in February 2022, the Health Research Board funded USD 1.1 million to support rare disease clinical trials.