The “Orphan Drugs Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Orphan Drugs Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The global orphan drugs market size was US$ 156,660 million in 2021. The global orphan drugs market size is forecast to reach US$ 4,36,686.3 million by 2030, growing at a compound annual growth rate (CAGR) of 11.9% during the forecast period from 2022 to 2030.
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Special pharmaceutical agents developed specifically to treat rare medical conditions are known as orphan drugs. Definitions of orphan drugs vary across countries. U.S. law defines an orphan drug as any drug developed under the Orphan Drug Act of January 1983 (ODA). This is a federal law pertaining to rare diseases (orphan diseases) that have a low prevalence or affect less than 200,000 people in the U.S. (less than 5 per 10,000 in the community). Likewise, in Europe, an orphan drug is described as one that treats a disease or disorder affecting less than 5 in 10,000 people (Orphan Drug Regulation 141/2000). In Japan, an orphan drug is a drug used to treat a disease with fewer than 50,000 cases (0.4%) (Ministry of Health, Labor, and Welfare, Japan).
Factors Influencing Market Growth
A rise in rare diseases and favorable government policies are driving the growth of the global orphan drug market.
The increasing availability of market exclusivity for orphan drug developers and an increase in indications of orphan drugs to treat cancers such as lymphoma, leukemia, and myeloma also boost the overall market growth.
A limited pool of patients for clinical trials and product marketing, and high treatment costs per patient, may slow down the overall market growth during the forecast period.
The growth of novel indications for established orphan drugs and the untapped growth potential in emerging economies are forecast to offer profitable opportunities for the global market growth during the forecast period.
Impact Analysis of COVID-19
During the COVID-19 pandemic, the global orphan drugs market experienced negative growth. Due to a decline in screening services, reduced access to specialists, treatment interruptions, limited operations in most industries, inadequate funding to research & academic institutes, temporary closures of major academic institutes, and challenges with providing essential/post-sales services. Although the market is forecast to recover during the forecast period, orphan drugs will continue to show stable growth.
Regional Insights
During the forecast period, Asia Pacific is forecast to register the fastest growth rate in the orphan drugs market. The region’s infrastructure, rising disposable incomes, and favorable government policies all contribute to the region’s growth. Additionally, the growth of clinical trials in Asia-Pacific is likely to be faster than in Europe and the U.S., driving growth in the region. Furthermore, government initiatives to increase the number of community health and oncology centers should also increase the availability of orphan drugs in developing regions.
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Leading Competitors
The leading prominent companies profiled in the global orphan drugs market are:
Abbvie Incorporated
Amgen Incorporated
Amryt Pharma Plc
Bristol-Myers Squibb Company
F. Hoffmann-La Roche AG
GlaxoSmithKline PLC
Johnson & Johnson (Janssen Global Services, LLC)
Novartis AG (Sandoz)
Pfizer, Incorporated
Sanofi S.A.
Other Prominent Players
Scope of the Report
The global orphan drugs market segmentation focuses on Disease Type and Region.
Segmentation based on Disease Type
Oncological Disease
Acute Myeloid Leukemia (AML)
Pancreatic Cancer
Ovarian cancer
Multiple Myeloma
Renal Cell Carcinoma
Others
Metabolic Diseases
Hunter Syndrome
Fabry Disease
Gaucher Disease
Hypoparathyroidism
Others
Hematologic & Immunologic Diseases
Hereditary Angioedema (HAE)
Hemophilia
Others
Infectious Diseases
Neurologic Diseases
Duchenne Muscular Dystrophy
Alzheimer’s Disease
Huntington’s Disease
Others
Other Rare Diseases
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Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
What are the key findings of the report?
?This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
?The report offers the current state of the market and future prospects for various geographical regions.
?This report provides both qualitative and quantitative information about the competitive landscape of the market.
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