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 reached a value of 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.
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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Orphan drugs refer to medications that are intended for diagnosing, preventing and treating rare, life-threatening diseases or disorders. As they traditionally had a limited market, very few pharmaceutical companies pursued research into these products. Moreover, orphan drug research is dependent on government incentives. However, the growing number of rare diseases lacking treatment, along with improving access to healthcare and spending capacity of individuals, has led to a significant rise in the demand for orphan drugs.
Market Trends and Drivers:
At present, incentives for drug development provided by government authorities in various countries are encouraging pharmaceutical companies to develop orphan drugs. For instance, the United States Food and Drug Administration (USFDA) offers benefits such as fast-track approval, protocol assistance, waiver of fees and marketing exclusivity to manufacturers, facilitating the development and commercialization of diagnostic tools and treatments devoted to rare diseases. Furthermore, there has been a rise in the development of orphan biological drugs that can prevent or treat various forms of cancer, tumors and blood disorders, which, in turn, is contributing to the market growth. In 2019, the Center for Drug Evaluation and Research (CDER), a division of the USFDA, approved various new orphan drug therapies for patients with numerous disorders, including tenosynovial giant cell tumor, sickle cell disease, diffuse large B-cell lymphoma, mantle cell lymphoma, acquired thrombotic thrombocytopenic purpura, beta-thalassemia, and acute hepatic porphyria.
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.
- Johnson & Johnson
- Amgen Inc.
- Biogen Inc.
- F. Hoffmann-La Roche AG (Roche Holding AG)
- Merck & Co. Inc.
- Jazz Pharmaceuticals Plc
- Novartis AG
- Takeda Pharmaceutical Company Limited
- Alexion Pharmaceuticals Inc.
- Pfizer Inc.
- Sanofi S.A.
- Bristol-Myers Squibb Company
- Teva Pharmaceutical Industries Ltd.
Key Market Segmentation:
The report has segmented the global orphan drugs market on the basis of drug type, disease type, phase, top selling drugs, distribution channel and region.
Breakup by Drug Type:
Breakup by Disease Type:
Breakup by Phase:
- Phase I
- Phase II
- Phase III
- Phase IV
Breakup by Top Selling Drugs:
Breakup by Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Stores
Breakup by Region:
- North America
- Asia Pacific
- 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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