Global Orphan Drugs Market has been segmented on the basis of pharmacological class, applications, technology, source and region.
Key Players for Global Orphan Drugs Market:
Hoffmann- La Roche, Celgene Corporation, Alexion Pharmaceuticals, Inc., Novartis AG, Takeda Pharmaceuticals Company Limited, Biogen Idec Limited, and Eli Lilly, Bristol-Myers Squibb, Vertex pharmaceuticals, Inc. Bayer AG, Sanofi, and Johnson & Johnson.
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Global Orphan Drugs Market – Overview
The global orphan drugs market is growing exponentially owing to unmet needs for rare diseases and the growing investment in research and development are the major factor driving the orphan drugs Market.
The global orphan drug market was estimated to be $93 billion in 2015 and is projected to reach $200 billion by 2022. Orphan drugs, represented 35% of the industry’s new drug approvals. The orphan drugs are disorders that affects a small percentage of the population. The major driving factor for the growth are low marketing cost, extensive exclusivity, government support leading to economic, legislative and tax benefits, new technology development such as hybridoma, gene mapping, and DNA recombinant.
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Global Orphan Drugs Market – Regional Analysis
Depending on geographic region, Globally North America is the largest market for orphan drugs. Factors such as high product demand and the increasing government incentives are expected to promote market growth in the US region, which is considered to be the highest revenue-generating region in the Americas.
Europe is the second-largest market for Global orphan drugs. The future market for orphan drugs is anticipated to be dominated by the developed regions with developing regions act as a supporting pillar to its growth.
Asia Pacific will be the fastest growing regional market and is likely to be the key to the future. Middle East & Africa is expected to have limited but steady growth in the market.
Global Orphan Drugs Market – Company Analysis
This market is highly fragmented and is dominated by five major vendors including Bristol-Mayer Squibb Company, Celgene Corporation, F. Hoffmann La Roche, Novartis AG, and Pfizer Inc. as they have extensive product portfolios. Factors such as the high regulatory barriers, patent expiry of branded drugs, stringent rules and regulations, and decreased R&D productivity, pose significant challenges to the vendors during the forecast period.
Other prominent players in the value chain include AstraZeneca plc, AbbVie Inc., Aegerion Pharmaceuticals, Inc., GlaxoSmithKline plc, Vertex Pharmaceuticals, Merck & Co., Inc., Boehringer Ingelheim GmbH, Amgen Inc., and Actelion Pharmaceuticals Ltd.
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