According to IMARC Group’s latest report, titled “Orphan Drugs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, the global orphan drugs market size reached US$ 168.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 342.4 Billion by 2027, exhibiting at a CAGR of 12.3% during 2022-2027.
Orphan drugs are manufactured to treat rare diseases in cases where the sponsor is reluctant to develop the drug under usual marketing conditions. The products are produced to meet a specific health requirement of the public and for the prevention, diagnosis, and treatment of life-threatening diseases or medical disorders. Orphan drugs have a limited market, and their research is dependent on government incentives, which is why they are manufactured for a small group of patients. The drugs are effective against numerous hematologic, infectious, metabolic, oncological, immunologic, and neurological diseases. Apart from this, they also help treat leukemia, pancreatic cancer, lymphoma, cystic fibrosis, glioma, ovarian cancers, multiple myeloma, and renal cell carcinoma.
COVID-19 Impact Analysis:
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Market Trends and Drivers:
Governments of various nations are providing incentives for drug development and encouraging pharmaceutical companies to develop orphan drugs, which is one of the key factors driving the orphan drugs market growth. Additionally, the emergence of new pharmaceutical drug manufacturers and the improving access to healthcare facilities are accelerating the market growth. In line with this, the surging number of rare diseases lacking treatment and the rising prevalence of genetic disorders and cancer are creating a positive outlook for the market. Besides this, the inflating per capita income of consumers and increasing research and development (R&D) activities for the introduction of sophisticated orphan therapeutics are positively supporting the market growth.
Orphan Drugs Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the orphan drugs market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- AbbVie Inc.
- Alexion Pharmaceuticals Inc.
- Amgen Inc.
- Biogen Inc.
- Bristol-Myers Squibb Company
- F. Hoffmann-La Roche AG (Roche Holding AG)
- Jazz Pharmaceuticals Plc
- Johnson & Johnson
- Merck & Co. Inc.
- Novartis AG
- Pfizer Inc.
- Sanofi S.A.
- Takeda Pharmaceutical Company Limited
- Teva Pharmaceutical Industries Ltd.
Key Market Segmentation:
The report has segmented the global orphan drugs market based on drug type, disease type, phase, top selling drugs, distribution channel and region.
Breakup by Drug Type:
- Biological
- Non-Biological
Breakup by Disease Type:
- Oncology
- Hematology
- Neurology
- Cardiovascular
- Others
Breakup by Phase:
- Phase I
- Phase II
- Phase III
- Phase IV
Breakup by Top Selling Drugs:
- Revlimid
- Rituxan
- Copaxone
- Opdivo
- Keytruda
- Imbruvica
- Avonex
- Sensipar
- Soliris
- Others
Breakup by Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Stores
- Others
Breakup by Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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