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Orphan Drugs Market 2019 Revenue: Size, Share and Forecasts

March 1st, 2019 Allied Market Research Releases

Orphan drugs form a niche yet considerably profitable segment of the pharmaceutical industry. Furthermore, the market exclusivity periods enjoyed by these drugs owing to favorable government legislations especially in the U.S. and Europe add to their value and profitability.

The major players profiled in the orphan drugs market include AbbVie Inc., Bristol-Myers Squibb Company, Aegerion Pharmaceuticals, Inc., F. Hoffmann-La Roche Ltd., Celgene Corporation, Johnson & Johnson, GlaxoSmithKline plc, Pfizer Inc., Novartis AG, and Sanofi. They have adopted various strategies including expansions, mergers & acquisitions, collaborations, and others to gain the major market share and sustain in the industry

The global orphan drugs market is estimated to reach $169 billion by 2022, growing at a CAGR of 6.8% from 2016 to 2022. The oncology disease segment contributed to nearly one-third of the total market share in 2017.

Download the Sample Report: https://www.alliedmarketresearch.com/request-sample/204

The oncologic disease type segment contributed the highest market share in the market, owing to prevalence of different types of rare cancers including myeloma, leukemia, angiosarcoma, and others in the patient population. However, the renal cell carcinoma indication would register the highest growth rate, owing to rise in investments in R&D across the world along with increase in awareness regarding kidney cancer. Multiple myeloma is a lucrative sub-segment in the indication segment. moreover, it is expected to register a CAGR of 7.8% from 2016 to 2022

The factors driving the global orphan drugs market include supportive government regulations, increase in prevalence of rare diseases, and market exclusivity for orphan drugs. Moreover, rise in innovative indications given for orphan drugs and untapped potential in emerging markets offer lucrative opportunities for the growth of the market. However, limited patient population available for clinical trials & product marketing and high costs for treatment hinder the market growth.

Key findings of the report

  • Metabolic diseases type segment is expected to register the highest CAGR during the forecast period, 2016–2022.
  • Neurologic disease type segment would experience the highest growth rate from 2016 to 2022.
  • Non-Hodgkin Lymphoma indication garnered the highest revenue in 2015 and will maintain its dominant position throughout the forecast period.
  • Based on regions, North America contributed the highest revenue in the market and is expected to grow at a CAGR of 5.5% during the forecast period.
  • Asia-Pacific is expected to experience the highest growth rate during the forecast period.

Asia-Pacific and LAMEA together constituted for nearly two-fifths of the total market share in 2015 and will continue this trend throughout the forecast period. This is due to increase in awareness about orphan drugs in India, China, and other developing economies. Favorable legislations by Different governmental and non-governmental organizations supplement the growth in the region. Moreover, rise in investments in R&D for development of drug by public and private sectors create opportunities in the region.

About Us:-

Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

 

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