Global Orphan Cancer Drug Market, Drug Sales, Price & Clinical Trials Insight 2028 Report Highlights:
- Global Orphan Designated Cancer Drug Market Opportunity > USD 150 Billion by 2028
- Global & Regional Market Size 2022 Till 2028
- Market Size By Orphan Designated Cancer Type 2022 Till 2028
- Top 50 Orphan Designated Cancer Drug Sales Forecast Till 2028
- Top 50 Drugs Account For > 70% Of Global Orphan Cancer Drug Market
- Top 50 Drugs Pricing, Dosage, Patent Insight
- Orphan Designated Cancer Drug Clinical Trials Insight by Company, Country & Indication
- Insight On More Than 400 Orphan Designated Cancer Drugs in Clinical Trials
- Insight On More Than 200 Orphan Designated Cancer Drugs Commercially Available in Market
Download Report: https://www.kuickresearch.com/report-orphan-cancer-rare-cancer-market
Orphan drugs refer to medications that are intended for diagnosing, preventing and treating rare, life-threatening diseases or disorders. Orphan drugs represents million dollar opportunity to the pharmaceutical companies which is mainly attributed to benefits associated with its development. The growing number of rare diseases and the increasing interest of companies have led to significant rise in the demand of orphan drugs. Currently, the orphan drug market is mainly dominated by rare cancers. In last few years, the prevalence of cancers have increased drastically which is mainly due to increase in geriatric population, increased smoking and alcohol consumption, exposure to carcinogens, limited physical activity and poor nutrition. The increase in target patient base increases the demand of orphan drugs in the management of rare cancer, thus propelling the growth in the orphan cancer drugs market.
Currently, a cocktail of drugs have been grated orphan designated for the management of rare cancers, among which more than 200 drugs are commercially available. Several drugs including Herceptin, Avastin, Tecentriq, Keytruda, Polivy, Adcetris, Tasigna, and other belonging to wide range of therapeutic classes have gained orphan designations and have shown huge adoption rate among cancer patients. Apart from this, several other drugs are awaiting approval in the market, thus indicating positive future of the market.
The global orphan cancer drug market is competitive in nature owing to presence of several pharmaceutical companies and the diverse product pipeline of these drugs. Merck, Bristol Myers Squibb, and Roche are expected to dominate the market which is primarily due to strong sales and product portfolio for rare cancer drugs which is expected to enter the market in the forthcoming years. The other key players which are actively investing in the market are Biogen, Novartis, Genmab, Daiichi Sankyo, AstraZeneca, amongst others. The companies have also adopted strategic alliances such as collaboration, partnership, or joint ventures to maintain a strategic edge in the global market.
For instance in June 2022, Noxxon Pharma entered into material transfer agreement with US National Cancer Institute (NCI), of the National Institutes of Health (NIH) to further explore the effects of Noxxon’s lead compound, the CXCL12 inhibitor NOX-A12 and the CCL2 inhibitor NOX-E36 individually and combined on brain tumors. NOX-A12 has been granted orphan drug designation in US for the management of certain brain tumors. These rising trends among the pharmaceutical companies are propelling the growth of orphan cancer drug market during the forecast period.
Despite this, several factors restrain the growth of market. Finding eligible patients for clinical trials in orphan medicines is one of the biggest challenges in the market. Moreover, effective recruitment in rare cancer requires clear understanding about the biology of the disease. In addition to this, making therapy accessible to most patients requires marketing access via public or private reimbursement policies. Apart from this, the price of orphan cancer drugs per treatment cycle can be very high. Therefore, the affordability of these orphan cancer drugs has become a major issue for payers which impact the growth of the market. All these factors limit the usage of orphan cancer drugs among patients.
As per our report findings, the global orphan cancer drug market is expected to surpass US$ 150 Billion by 2028 which is mainly attributed to increase in prevalence of rare cancers, rising sales of orphan cancer drugs, and huge investment in this segment. The coming years will witness new product launch across wide range of rare cancers which will also drive the growth of market. Further, rising awareness about the early diagnosis of disease and favorable government policies will also have a positive impact on the growth of market.
Contact:
Neeraj Chawla
Kuick research
Research Head
+91-981410366
neeraj@kuickresearch.com
https://www.kuickresearch.com