Orphan Drugs Market 2020 Global Industry Forecast To 2026 is latest depth analysis research published by Fortune Business Insights. According to this report the Global Orphan Drugs Market size will rise from Covid-19 crisis at moderate growth rate during forecast period of 2020 to 2026. Report analyzes Orphan Drugs Market COVID-19 Impact Analysis, By Therapy Area (Oncology, Hematology, Neurology, Endocrinology, Cardiovascular, Respiratory, Immunotherapy, and Others), By Drug Type (Biologics, and Non-Biologics), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Sales, and Others), and Regional Forecast, 2020-2027.
Orphan Drugs Definition – Orphan Drugs are developed by companies to treat rare disease or orphan disease. Orphan drugs are medicinal products that are intended at the treatment of severe and life—threatening conditions including cancer. They are normally associated with the treatment of very rare diseases (affecting 1 in every 2000 people).
Orphan Drugs Market Research provides comprehensive information on Global Orphan Drugs Market trends, opportunity, market drivers, restraints, Industry Challenges, with new business strategies, insights on new developments by key companies involved in Orphan Drugs Market.
Orphan Drugs Companies Analyzed In Report:
- Amgen Inc. (Thousand Oaks, U.S.)
- Bayer AG (Leverkusen, Germany)
- Hoffmann-La Roche Ltd (Basel, Switzerland)
- Alexion Pharmaceuticals Inc. (Boston, U.S.)
- Novo Nordisk A/S (Bagsværd, Denmark)
- Novartis AG (Basel, Switzerland)
- Bristol-Myers Squibb Company (New York, U.S.)
- AstraZeneca (Cambridge, U.K.)
- DAIICHI SANKYO COMPANY, LIMITED (Tokyo, Japan)
- GlaxoSmithKline plc (Brentford, U.K.)
Orphan Drugs Market Analysis:
The global orphan drugs market size is projected to reach USD 340.84 billion by the end of 2027. Increasing number of regulatory approvals will have a positive impact on the growth of the overall market in the coming years. According to a report published by Fortune Business Insights, titled “Orphan Drugs Market Size, Share & COVID-19 Impact Analysis, By Therapy Area (Oncology, Hematology, Neurology, Endocrinology, Cardiovascular, Respiratory, Immunotherapy, and Others), By Drug Type (Biologics, and Non-Biologics), By Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Sales, and Others), and Regional Forecast, 2020-2027,” the market was worth USD 151.00 billion in 2019 and will exhibit a CAGR of 10.5% during the forecast period, 2020-2027.
The difficulty associated with the treatment of critical diseases has yielded massive investments in research and development. The presence of numerous large scale orphan drug manufacturers across the world will emerge in favor of growth of the overall market in the coming years. The increasing number of regulatory approvals associated with orphan drugs, coupled with increasing clinical trials related to these drugs will create several growth opportunities for the market in the coming years.
Orphan drugs are used for the treatment of severe and life-threatening diseases. The high emphasis on research and development of these drugs are consequential to the difficulty associated with the treatment of the disease. Due to increasing incidence of such life-threatening diseases, including cancer, there are several companies that are operating across the globe. The high prevalence of infectious diseases in developed as well as developing countries will bode well for the growth of the market in the coming years. The presence of several large scale manufacturers will contribute to the growth of the market. The increasing demand for immunomodulators in emerging as well as developed countries will have a positive impact on the growth of the overall market in the foreseeable future.
Increasing Number of Regulatory Approvals will Emerge in Favor of Orphan Drugs Market Growth
The report encompasses several factors that have contributed to the growth of the overall market in recent years. Accounting to the massive potential held by orphan drugs, there are numerous clinical trials associated with the drugs. The increasing number of successful clinical trials has resulted in an increase in the number of regulatory approvals across the world. In May 2019, Pfizer announced that it has received approval from the US Food and Drug Administration for its latest products aimed at treatment of cardiomyopathy. The company announced that it has received approval from the FDA for VYNDAQEL and VYNDAMAX, two products that have shown signs of promise in the clinical phases. Fortune Business Insights states that increasing number of such regulatory approvals for products of large scale companies will have a positive impact on the growth of the overall market in the coming years.
Market Drivers and Challenges:
Escalating Cases of Genetic Disorders to Augment Growth
The increasing prevalence of chronic disorders can be an essential factor enabling the growth of the market. Similarly, the growing incidence of genetic disorders will fuel demand for the market. The growing investment in R&D activities by major market players will have a positive impact on the Orphan Drugs market growth during the forecast period. For instance, in March 2018, SanBio Group, a leader in Orphan Drugs and therapies for neurological disorders announced that it has made a deal with Hitachi Chemical Advanced Therapeutics Solutions, LLC, a cell manufacturing company for the development and manufacturing of innovative Orphan Drugss. Furthermore, the rising cases of neurological disorders will influence the healthy growth of the market. The growing healthcare expenditure in developed and developing countries will boost the market in the forthcoming years. The ongoing clinical trials and robust pipeline products in stem cell and gene therapy will contribute tremendously to the growth of the market. The rising utilization of skin substitutes, grafts, bone matrix, and other tissue-engineered Orphan Drugs in orthopedic and neurosurgical applications will augment the growth of the market
Regional Market Overview:
North America Currently Dominates the Market; Increasing Spending on R&D by Major Companies to Aid Growth
The report analyses the ongoing market trends across five major regions, including North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among all regions, the market in North America currently dominates the market. The high spending on research and development of orphan drugs, coupled with the presence of several large-scale local manufacturers will bode well for market growth. The rising demand for the product in the United States as well as Canada will also contribute to the growth of the market in the coming years. As of 2019, the market in North America was worth USD 81.22 billion and this value is projected to increase further in the coming years. The market in Europe will derive growth from the adoption of technologically advanced manufacturing equipment by major companies in the region.
Regional analysis is another highly comprehensive part of the research and analysis study of the global market presented in the report. This section sheds light on the sales growth of different regional and country-level markets. For the historical and forecast period to 2024, it provides detailed and accurate country-wise volume analysis and region-wise market size analysis of the global market.
- North America (United States, Canada and Mexico)
- Europe (Germany, France, UK, Russia and Italy)
- Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
- South America (Brazil, Argentina, Colombia etc.)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa).
August 2018: Ultragenyx announced that it has received FDA approval for Mepsevii (vestronidase alfa) in Europe. The product is aimed at the treatment of Mucopolysaccharidosis VII.
The Orphan Drugs Market report examines competitive scenario by analyzing key players in the market. The company profiling of leading market players is included this report with Porter’s five forces analysis and Value Chain analysis. Further, the strategies exercised by the companies for expansion of business through mergers, acquisitions, and other business development measures are discussed in the report. The financial parameters which are assessed include the sales, profits and the overall revenue generated by the key players of Market.
- Orphan Drugs Key Players
- Orphan Drugs Suppliers
- Research and Development (RandD) Companies
- Distributer and Supplier companies
- End Users
- Consultants and Investment bankers
- Government as well as Independent Regulatory Authorities
Table of Content:
- Scope Of The Study
- Research Objective
- Primary Research
- Secondary Research
- Market Size Estimation
- Macroeconomic Indicators
- Technology Trends & Assessment
Market Factor Analysis
- Porter’s Five Forces Analysis
- Bargaining Power Of Suppliers
- Bargaining Power Of Buyers
- Threat Of New Entrants
- Threat Of Substitutes
- Intensity Of Rivalry
- Value Chain Analysis
- Investment Feasibility Analysis
- Pricing Analysis
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