Dublin, July 07, 2022 (GLOBE NEWSWIRE) -- The "Orphan Drugs Global Market Report 2022: By Therapy, By Distribution, By Drug, By Disease" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global orphan drugs market.
This report focuses on orphan drugs market which is experiencing strong growth. The report gives a guide to the orphan drugs market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.
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Description:
Where is the largest and fastest growing market for the orphan drugs? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Orphan Drugs market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider orphan drugs market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market
- The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the COVID-19 virus and forecasting its growth
- Market segmentations break down market into sub markets
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers
- The orphan drugs market section of the report gives context. It compares the orphan drugs market with other segments of the orphan drugs market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, orphan drugs indicators comparison
Major players in the orphan drugs market are Bristol-Myers Squibb Company, Celgene Corporation, F. Hoffmann-La Roche Ltd., Amgen, Biogen, Bayer, Novartis AG, GlaxoSmithKline plc., Johnson & Johnson, AbbVie Inc., Eli Lilly and Company, Alexion Pharmaceuticals, Shire, Novo Nordisk, AstraZeneca, Eisai, Daiichi Sankyo, Merck, Teva Pharmaceutical Industries, Actelion Pharmaceuticals Ltd. and Aegerion Pharmaceuticals.
The global orphan drugs market is expected to grow from $140.40 billion in 2021 to $154.81 billion in 2022 at a compound annual growth rate (CAGR) of 10.3%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $229.71 billion in 2026 at a CAGR of 10.4%.
The orphan drugs market consists of sales of orphan drugs and related services that are used to treat rare diseases. An orphan drug is a pharmaceutical drug developed to treat patients suffering from rare diseases and would not make profit if developed commercially.
The main types of orphan drugs are biological and non-biological. The various therapy area include oncology, blood, central nervous system, endocrine, cardiovascular, respiratory and immunomodulatory use for the treatment of oncology, hematology, neurology, cardiovascular, and others. The study of blood and blood disorders is known as haematology. The drugs are distributed through hospital pharmacy, retail pharmacy and online sales.
North America was the largest region in the orphan drugs market in 2021. Middle East is expected to be the largest growing region in the forecast period. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rising prevalence of rare diseases is a key factor driving the growth of the orphan drugs market. Any disease that affects a small percentage of the population is a rare disease. Rare disease treatments often require a cold chain, a supply chain regulated by temperature that is not readily accessible in all countries. Orphan diseases or rare diseases occurs rarely among the people (i.e. 7 out of 10,000).
However, globally, the prevalence of rare diseases is increasing in recent years. According to the study published in European Journal of Human Genetics in 2019, there are 300 million cases of rare diseases and approximately 4% of total population is affected by rare disease at any point in time. Thus, the rising prevalence of rare diseases is driving the growth of the orphan drugs market.
Lack of supportive government policies hinders the orphan drugs market. Due to the lack of relevant policies for orphan drug, certain drugs do not receive any special recognition or priorities for approval by regulatory authority. Medgenome Labs Ltd., global research partner in accelerating insights into complex genetic diseases, pointed out that companies manufacturing orphan drugs frequently drop out in foreign markets due to a lack of government funding.
For example, orphan medical products (OMPs) in India, due to lack of proper regulations and clear guidelines, do not obtain tax cuts or exemptions from customs duties. Therefore, lack of supportive government policies limits the growth of the orphan drugs market.
Approval of biological orphan drugs for multiple indication act as a key trend driving the growth of the orphan drugs market. The biological drugs are used for treating rare diseases such as cancer with fewer side effects that have a high prevalence rate in the developed world. For Instance, in order to launch the company's biological orphan drug development program Cardax, Inc. announced that it has been engaged with biological orphan drug expert Frederick D. Sancilio, Ph.D. For the development of commercial products, the companies are focused on obtaining biological orphan drugs to increase their revenue.
Key Topics Covered:
1. Executive Summary
2. Orphan Drugs Market Characteristics
3. Orphan Drugs Market Trends And Strategies
4. Impact Of COVID-19 On Orphan Drugs
5. Orphan Drugs Market Size And Growth
5.1. Global Orphan Drugs Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Orphan Drugs Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Orphan Drugs Market Segmentation
6.1. Global Orphan Drugs Market, Segmentation By Therapy Area, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Oncology
- Blood
- Central Nervous System
- Endocrine
- Cardiovascular
- Respiratory
- Immunomodulatory
6.2. Global Orphan Drugs Market, Segmentation By Distribution Channel, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Hospital Pharmacy
- Retail Pharmacy
- Online Sales
6.3. Global Orphan Drugs Market, Segmentation By Drug Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Biological
- Non-Biological
6.4. Global Orphan Drugs Market, Segmentation By Diesease Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Oncology
- Hematology
- Neurology
- Cardiovascular
- Others
7. Orphan Drugs Market Regional And Country Analysis
7.1. Global Orphan Drugs Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Orphan Drugs Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/yb0sit
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