The global orphan drugs market size was valued at USD 151.00 billion in 2019 and is projected to reach USD 340.84 billion by 2027, exhibiting a CAGR of 10.5% during the forecast period.

The Orphan Drugs Market research report for 2023–2030 highlights the important market trends in the industry. In addition to looking at entry barriers, sales channels, distributors, and Porter's Five Forces Analysis, this market analysis also looks at market size, market share, growth rate, future trends, market drivers, opportunities, challenges, and risks. The research shows changes in CAGR figures over the market's projection period. The leading brands or companies are generally accountable for the modifications in the market landscape through their innovations, product launches, joint ventures, mergers, and acquisitions, which modify the perception of the industry's global face.

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This Orphan Drugs Market Report provides its clients with authentic data that aids in making important decisions by providing a market outlook. This report also keeps track of all recent market advancements and innovations. It provides information on the challenges faced when starting a business and offers advice on how to deal with impending difficulties.

Major Market Players Profiled in the Report include:

  • Amgen Inc. (Thousand Oaks, U.S.)
  • Bayer AG (Leverkusen, Germany)
  • F. Hoffmann-La Roche Ltd (Basel, Switzerland)
  • Alexion Pharmaceuticals Inc. (Boston, U.S.)
  • Novo Nordisk A/S (Bagsværd, Denmark)
  • Novartis AG (Basel, Switzerland)
  • Bristol-Myers Squibb Company (New York, U.S.)
  • AstraZeneca (Cambridge, U.K.)
  • DAIICHI SANKYO COMPANY, LIMITED (Tokyo, Japan)
  • GlaxoSmithKline plc (Brentford, U.K.)

Market Drivers:

Rising Prevalence of Cancer and Related Diseases Fuels Demand for Orphan Drugs

The oncology segment is witnessing considerably high demand on account of the rising number of patients suffering from different types of cancers. This also increases the demand for novel therapeutics, which as per the report will bode well for the global orphan drugs market. According to the National Center for Health Statistics, the U.S. is likely to witness around 1,762,450 new cancer cases in 2019. Spurred by these numbers, the demand for orphan drugs is likely to increase in the coming years. Governments are investing heavily to build a strong framework for supporting drug development, thus offering a significant impetus to the orphan drugs market. Furthermore, the return on investment, with regards to orphan drugs, is expected to be higher than non-orphan drugs, which in turn is increasing the demand for orphan drug therapeutics worldwide. “People across the world are becoming more aware about the rising prevalence of rare disorders and importance of orphan drugs,” stated a lead analyst at Fortune Business insights. “This, coupled with robust support from EU and FDA to drug development, drives the orphan drugs market,” he added. Several pharma companies are also putting continuous efforts to develop orphan drugs, thus improving creating scope for generating more revenue in the overall global market for orphan drugs.

Segmentation:

By Therapy Area

  • Oncology
  • Hematology
  • Neurology
  • Endocrinology
  • Cardiovascular
  • Respiratory
  • Immunotherapy
  • Others

By Drug Type

  • Biologics
  • Non-Biologics

By Distribution Channel

  • Hospital Pharmacy
  • Retail Pharmacy
  • Online Sales
  • Others

Regional Analysis:

North America Continues to Remain Strong Until 2027 Backed by Governments Support

North America dominated the global orphan drugs market in 2019 by generating a revenue of 151.00 Billion. The region continues to remain strong throughput the forecast period between 2019 and 2027. The rising support from governments regarding research and development (R&D) of orphan drugs is driving the market in North America. This region is likely to witness the highest number of FDA approvals for the orphan drug development, encouraging

companies to develop new orphan drugs. Further to this, the increasing emphasis on the implementation of orphan drugs act in North America is likely to create growth opportunities in the market. Besides North America, Europe is also anticipated to witness considerable growth owing to the incentivization of orphan drug manufacturing. Asia Pacific is expected to exhibit a considerable CAGR during the forecast period. This is ascribable to the increasing prevalence of rare diseases.

  • North America (United States, Canada and Mexico)
  • Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
  • Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
  • South America (Brazil, Argentina, Colombia, and Rest of South America)
  • Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

This Report Aims To Provide:

An analysis, both qualitative and quantitative, of the dynamics, trends, and projections for the years 2023 to 2030.

The use of analysis tools like SWOT analysis and Porter's five force analysis helps to explain how capable buyers and suppliers are of making decisions that will strengthen their companies bottom lines.

The current market opportunities are identified through a thorough analysis of market segmentation.

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Questions Answered in the Orphan Drugs Market Research Report

  1. Which are the leading players active in the Orphan Drugs Market size?
  2. What are the detailed impacts of COVID-19 on the market?
  3. What current trends will influence the market in the next few years?
  4. What are the driving factors, restraints, and opportunities in the market?
  5. What future projections would help in taking further strategic steps?

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