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Orphan Drugs Market size was valued at USD 141.00 billion in 2020 and is projected to reach USD 330.84 billion by 2027, exhibiting a CAGR of 10.3% during the forecast period

November 24th, 2021 Coherent Market Insights Releases

Overview:

Orphan drugs are used to diagnose, prevent, or treat life-threatening or very serious diseases or disorders that are rare. There are no adequate drugs for the treatment of rare diseases such as ALS (Lou Gehrig’s disease), Huntington’s disease, muscular dystrophy, Tourette syndrome, and myoclonus, and thus, they are treated by orphan drugs. Orphan drugs are developed for public health needs. Orphan diseases appear in patient populations representing 6-8% of the global population. Symptoms of some orphan diseases may appear at birth or in childhood.

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Drivers:

Increasing demand for orphan drugs due to increasing prevalence of life-threatening or serious diseases or disorders that are rare is expected to boost growth of the global orphan drugs market over the forecast period. There are approximately 5,000 rare diseases listed globally, of which around 80% are of genetic origin.

Moreover, proactive initiatives by government and regulatory authorities for the development of orphan drugs to treat such diseases are expected to drive growth of the global orphan drugs market. For instance, the U.S. Food and Drug Administration (FDA) provide the incentives to pharmaceutical and biopharmaceutical industries to enhance their research and development in the field of orphan drugs.

Restraints:

High cost of orphan drugs, risks associated with orphan drugs and prolong timeline for product development is expected to hamper growth of the global orphan drugs market. For instance, thalidomide was withdrawn from the market when teratogenic risk was discovered, however, thalidomide has shown prominent result in treating leprosy.

Regional Analysis:

North America and Europe are expected to witness robust growth in the global orphan drugs market, owing to proactive initiatives by government for the development of orphan drugs and established regulatory and reimbursement framework in these regions. Collaborative research programs in the U.S. and Europe provide research data on rare diseases to health experts and manufacturers who provide timely medical care, driving the market growth. For instance, U.S. government provides 50% of tax credit on the research and development expenses spent on the development of orphan drugs.

Moreover, Asia Pacific is expected to witness robust growth in the global orphan drugs market due to increasing prevalence of genetic diseases and increasing population in this region.

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Market Taxonomy:

By Disease Type:

  • Hematologic and Immunologic diseases
  • Infectious diseases
  • Metabolic diseases
  • Neurologic diseases
  • Oncologic diseases
  • Other orphan diseases

By Product Type:

  • Biological orphan drugs
  • Non-biological orphan drugs

Market Players:

Major players active in the global orphan drugs market are Johnson and Johnson, F.Hoffmann-La Roche AG, Novartis, Biomarin Pharmaceuticals, Bayer healthcare pharmaceuticals, Baxter international, Alexion Pharmaceuticals, Amgen, Actelion Pharmaceuticals Ltd., and Acorda Therapeutics, among others.

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Table of Content

Global Orphan Drugs Market Research Report

Section 1: Global Orphan Drugs Industry Overview
Section 2: Global Economic Impact on Orphan Drugs Industry
Section 3: Global Market Competition by Industry Producers
Section 4: Global Productions, Revenue (Value), according to Regions
Section 5: Global Supplies (Production), Consumption, Export, Import, geographically
Section 6: Global Productions, Revenue (Value), Price Trend, Product Type
Section 7: Global Market Analysis, on the basis of Application
Section 8: Orphan Drugs Market Pricing Analysis
Section 9: Market Chain, Sourcing Strategy and Downstream Buyers
Section 10: Strategies and key policies by Distributors/Suppliers/Traders
Section 11: Key Marketing Strategy Analysis, by Market Vendors
Section 12: Market Effect Factors Analysis
Section 13: Global Orphan Drugs Market Forecast

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients to achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having an office at global financial capital in the U.S. and sales consultants in the United Kingdom and Japan. Our client base includes players from across various business verticals in over 150 countries worldwide. We pride ourselves in catering to clients across the length and width of the horizon, from Fortune 500 enlisted companies to not-for-profit organizations, and startups looking to establish a foothold in the market. We excel in offering unmatched actionable market intelligence across various industry verticals, including chemicals and materials, healthcare, and food & beverages, consumer goods, packaging, semiconductors, software and services, Telecom, and Automotive. We offer syndicated market intelligence reports, customized research solutions, and consulting services.

Contact:

Coherent Market Insights
1001 4th Ave, #3200 Seattle, WA 98154, U.S.
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Japan: +050-5539-1737
India: +91-848-285-0837

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