Orphan Drugs Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2018-2024. Rising prevalence of cancer & infections disease in developed as well as emerging nations and higher prices of medications are expected to boost the growth of Orphan Drugs market over forecast period.
Global Orphan Drugs Market is valued at USD 1257.22 Million in 2018 and expected to reach USD 2357.95Million by 2025 with the CAGR of 9.40% over the forecast period.
Scope of Global Orphan Drugs Market Report –
The orphan drug is a pharmaceutical agent developed to treat medical conditions which are so rare that it would not be profitable to produce without government assistance, referred to as orphan diseases. Hence, the transport of orphan status to a disease and to drugs developed to treatment is a matter of public policy in many countries and has yielded medical breakthroughs that might not otherwise have been achieved due to the economics of drug research and development. Hence, in the U.S. and EU, it is easier to gain marketing approval for an orphan drug. The orphan drugs market is used based on disease type which are classified into oncologic diseases, cancer, metabolic diseases, blood diseases, hematologic& immunologic diseases, infectious diseases, neurologic diseases, and other rare diseases. Furthermore, the applicant must present appropriate justification for using the drug for the suggested therapeutic indication, the new candidate must represent a significant improvement to efficacy, tolerability or usability characteristics. Additionally, the reason is biological drugs have been used for treating rare disease for a long time. The most focused orphan disease, cancer, which has a higher prevalence rate in the developed world, has been effectively treated by biological drugs with fewer side effects. even though post-approval benefits are significant various early-stage companies apply for orphan designation when approvals are in the distant future.
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Global Orphan Drugs Market report is segmented on the basis of Product type, End-user and by regional & country level. Based on product type, global Orphan Drugs Market is classified as the oncology, gastrointestinal, pulmonary, pulmonary, hematology, cardio-vascular, metabolic disorders, endocrinology, infectious diseases and others. Based upon the End-user, the market is classified as hospital pharmacies, specialty pharmacies, retail pharmacies and others.
The regions covered in the Global Orphan Drugs Market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of clinical decision support system is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players for Global Orphan Drugs in Market Report-
Global orphan drugs market report covers prominent players like Novartis, Bristol-Myers Squibb, Celgene, Roche, Pfizer, Sanofi, Alexion Pharmaceuticals, Eli Lilly, Novo Nordisk, AstraZeneca, Eisai, Daiichi Sankyo, Bayer, GlaxoSmithKline, Merck, Johnson and Johnson, Boigen, Shire, Amgen, and others.
Merck to acquire oncology-focused small-molecule firm ArQule
RQule has been agreed to be acquired by Merck & Co. use for roughly $2.7 billion in cash, making it the latest small-molecule-focused cancer drug firm to be swallowed by big pharma. The while several BTK inhibitors are already on the market particularly AbbVie’s Imbruvica, which is on track to bring in more than $4 billion in sales this year and BeiGene’s recently established Brukinsa—there is still room for more compounds. That’s because the approved drugs covalently bind to a cysteine residue on the signaling enzyme a mechanism that works wonderfully until cancer cells mutate the residue. Furthermore, the ARQ 531 is one of a handful of noncovalent BTK inhibitors in the clinic that are designed to overcome the resistance mechanism. The sunrise at a blood disease conference, ArQule unveiled Phase I clinical trial results that suggest ARQ 531 could be effective at treating several types of B-cell cancer. For example, the compound caused tumors, most of which harbor a mutation in the cysteine residue, to shrink in 8 out of 9 chronic lymphocytic leukemia patients. Hence, the ArQule’s stock price more than doubled today on news of the Merck deal and the encouraging clinical data. But investors also closely parsed the trial results to understand if ARQ 531 is meaningfully different than LOXO 305, a competing noncovalent BTK inhibitor developed by Loxo Oncology.
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Global Orphan Drugs Market Dynamics –
The orphan drug market is the rising prevalence of lifestyle disorder growth in the number of private diagnostic and caring. The mutually market forces and technology enablers are responsible for combine to create multiple business approaches. Hence, the growth of the worldwide orphan drug market also indicates that governments’ initiatives have been successful. According to the World Health Organization (WHO), the orphan diseases or rare diseases are rare occurrences in the population, around 5,000 to 8,000 rare diseases have been recognized and the origin of approximately 80% of these diseases is from the cancers. Furthermore, the fact that advances within research and developments have strengthened pharmaceutical companies’ ability to develop treatments for rare diseases. According to the World Health Organization (WHO), it is estimated that the research conducted by Rare Diseases International in 2016, around 300 Million peoples are suffering from rare diseases out of which 70% are children and 72% people have genetic disorder which is responsible factor for the growth of Orphan Drugs for the therapeutic as well as detection purpose. One of the major challenges faced by this market is the availability of small patient pool for clinical trials & marketing and high treatment cost of diseases-. The future for orphan diseases, especially the mechanisms underlying many rare genetic disorders, may will be unraveled in the next few years, thus opening the door for the possibility of many new drugs for their treatment.
Global Orphan Drugs Market Regional Analysis –
North America dominates the Orphan Drugs market share during the forecast period. The North Americas expected to witness considerable growth on account of rising governments spending on research and development of orphan drugs, extensively accelerate FDA approvals for newly developed drug, and rising emphasis on implementation of orphan drug. The increasing investments in the healthcare centers and pharmaceutical industries to ensure patients safety is expanding the size of the north America orphan drug market. According to the National Institutes of Health (NIH) U.S in 2016, estimates that approximately 7% of the populations in the developed world have a rare disease. In the United States about 25 million and 30 million people suffer from rare diseases – defined as those affecting fewer than 200,000 people. The Asia Pacific region is likely to nature at a considerable rate owing to higher prevalence of rare disorders followed by priority for execution of orphan drug legislations in Asian countries.
Key Benefits for Global Orphan Drugs Market Reports–
Global Orphan Drugs Market report covers in depth historical and forecast analysis.
Global Orphan Drugs Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Global Orphan Drugs Market report helps to identify opportunities in market place.
Global Orphan Drugs Market report covers extensive analysis of emerging trends and competitive landscape.
Global Orphan Drugs Market Segmentation –
Global Orphan Drugs Market: By Product Type
Global Orphan Drugs Market: By End-Use
Global Orphan Drugs Market: By Regional & Country Analysis
The Middle East and Africa
Rest of Middle East and Africa
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