The anticipated value of the global orphan drugs market in 2021 was $160.5 billion, and it is projected to increase at a CAGR of 9.5% through 2032.
A rare disease also called as an orphan disease, is a disease that affects a relatively smaller percentage of the global population. Most of these rare diseases are genetic and present throughout the patient's entire lifetime, even if the symptoms do not appear immediately. Across the globe, there has been observed to be an increasing prevalence of rare diseases.
According to the European Organization for Rare Diseases, an orphan drug is a pharmaceutical product that is used for the diagnosis, prevention, and treatment of these rare condition or diseases. These diseases differ from the other diseases on the basis of the fact that their prevalence rate is very low as compared to the other types of diseases, and are hence bought by a very small patient population. However, the government authorities of various countries across the globe are encouraging the development and marketing of these drugs.
To be able to provide proper treatment for rare diseases and conditions, and to encourage pharmaceutical and biotechnology companies to invest in the treatments for rare diseases, governments worldwide have shaped various legal and financial incentives around the Orphan Drugs Market.
Factors such as the rising prevalence of rare diseases, and the surge in the investments in the avenues related to the research and development going in to these conditions, are anticipated to boost the market. Therefore, the increasing advancements in technologies related to the orphan drugs field, are likely to provide great opportunities for market growth over the forecast period.
Globally, patients suffering from rare diseases are seeking efficient and potent treatment of these disorders. Increasing R&D initiatives and increasing advocacy by patients' groups for effective treatment are propelling the introduction of newer and effective product offerings. These trends have led to the development and marketing of several blockbuster drugs for the treatment of several types of cancers, immunological 0 diseases, and other rare diseases.
Thus, the introduction of such sophisticated orphan therapeutics by established and emerging companies are instrumental in boosting the adoption of those drugs, which, in turn, is anticipated to aid the expansion of the global market during the forecast period.
Orphan Drugs Market Value Share Analysis, by Geography (2022)
The report titled “Orphan Drugs Market - Global Market Share, Trends, Analysis and Forecasts, 2023-2032” wherein 2021 is historic period, 2022 is the base year, and 2023 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global Orphan Drugs Market.
Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The global Orphan Drugs Market is segmented on the basis of disease type, indication, drug type, sale, drug, therapy class, distribution channel, and geography. Based on disease type is segmented into Oncologic Diseases, Metabolic Diseases, Hematologic and Immunologic Diseases, Infectious Diseases, Neurologic Diseases, Other Rare Diseases. Based on indication is segmented into Non-Hodgkin Lymphoma, Acute Myeloid Leukemia, Cystic Fibrosis, Glioma, Pancreatic Cancer, Ovarian Cancer, Multiple Myeloma, Duchenne Muscular Dystrophy, Graft vs Host Disease, Renal Cell Carcinoma, Others. Based on drug type is segmented into Biologics, Non- biologics. Based on drug, the market is segmented into Revlimid, Rituxan, Opdivo, Keytruda, Imbruvica, Soliris, Jakaf, Pomalyst, Darzalex, Spinraza, Adcetris. Based on sale is segmented into Generics, Prescribed. Based on therapy class is segmented into Oncology, Blood, Central nervous systems, Endocrine, Cardiovascular and Respiratory. Based on Distribution Channel is segmented into Hospital pharmacy, Retail pharmacy, Online sales, Online pharmacy and Others. Based on geography is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is sub-segmented into the United States, Canada and Rest of North America. Europe is sub-segmented into Germany, United Kingdom, Belgium, Spain, and Rest of Europe. Asia Pacific is sub-segmented into China, Japan, India, Australia, and Rest of Asia Pacific. Middle East & Africa is sub-segmented into Saudi Arabia, the UAE, and Rest of Middle East & Africa. South America is sub-segmented into Brazil and Rest of South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on Orphan Drugs Market. Further, market share of prominent companies in the global Orphan Drugs Market would also be estimated.
The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, swot analysis, and research and development focus of all the Orphan Drugs companies. The global Orphan Drugs Market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution.
Product portfolio would focus on all the products under the Orphan Drugs business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global Orphan Drugs Market.
The key players active in the global Orphan Drugs Market include AbbVie Inc., Aegerion Pharmaceuticals, Inc., Bristol-Myers Squibb Company, Celgene Corporation, F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc, Johnson & Johnson, Novartis AG, Pfizer Inc. and Sanofi, Boehringer Ingelheim GmbH, Amgen Inc., Biogen Idec, Actelion Pharmaceuticals Ltd, AstraZeneca plc, and Janssen Biotech, Inc.
The Orphan Drugs Market is segmented as follows:
By Disease Type
By Indication
By Therapy Class
By Sale
By Distribution Channel
By Drug
By Drug Type
By Region
Rising prevalence of rare diseases, and the surge in the investments in the avenues related to the research and development going in to these conditions, are anticipated to boost the orphan drugs market.
The global orphan drugs market segmented on the basis of indication, therapy class, drug, disease type, drug type, sale, distribution channel, and geography.
AbbVie Inc., Aegerion Pharmaceuticals, Inc., Bristol-Myers Squibb Company, Celgene Corporation, F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc, Johnson & Johnson, Novartis AG, Pfizer Inc. and Sanofi, Boehringer Ingelheim GmbH, Amgen Inc., Biogen Idec, Actelion Pharmaceuticals Ltd, AstraZeneca plc, Janssen Biotech, Inc. among others, are the major players in this market.
The base year considered in orphan drugs market report is 2022.
North America is anticipated to continue to dominate the regional market for orphan pharmaceuticals worldwide.
The orphan drugs market size was estimated to be US$ 160.5 billion in 2021.
The orphan drugs market is estimated to exhibit a CAGR of 9.5% through 2032.
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