Singapore, July 01, 2022 (GLOBE NEWSWIRE) -- Global Orphan Cancer Drug Market, Drug Sales, Price & Clinical Trials Insight 2028 Report Highlights:
- Global Orphan Designated 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
In last few years, the prevalence of various rare subtypes of lymphoma including follicular lymphoma, mantle cell lymphoma, burkitt lymphoma, and anaplastic large cell lymphoma have increased considerably, thus suggesting promising market for orphan drugs in this segment. Several lymphoma designated orphan drugs have entered the market including Rituximab, Velcade, Imbruvica, Monjuvi, Keytruda, Zynlonta, and others which have demonstrated encouraging response in the global market. The encouraging response of these drugs and ever increasing sales have gained considerable momentum from the pharmaceutical companies to invest in this segment.
Pharmaceutical companies have also developed next generation therapeutics for the management of lymphoma including bispecific antibodies which have the ability to target two different antigens simultaneously. Mosunetuzumab is the first-in-class CD20xCD3 T-cell engaging bispecific antibody designed to target CD20 on the surface of B-cells and CD3 on the surface of T-cells. The novel bispecific construct was developed by Roche and was granted orphan designation by US FDA as well as EMA for follicular lymphoma. Recently on June 8, 2022 European Commission has granted marketing authorization for mosunetuzumab for the treatment of adult patients with relapsed or refractory (R/R) follicular lymphoma (FL) who have received at least two prior systemic therapies.
Various pharmaceutical players have adopted strategic collaborations or partnerships to drive the research and development in orphan cancer drugs market. In 2020, Genmab entered into broad collaboration agreement with Abbvie to jointly develop Genmab’s next generation bispecific antibody epcoritamab (DuoBody®-CD3xCD20). In 2022, US FDA has granted orphan drug designation to epcoritamab for the management of follicular lymphoma. The drug is currently being evaluated as monotherapy or combination therapy with standard of care agents for the management of follicular lymphoma, and other hematological malignancies. The other key players in the market include
The rising investment by key players is mainly due to the benefits associated with the development of orphan drugs. The passage of Orphan Drug Act (ODA) in 1983 is considered as a major breakthrough in the market. This act aims on providing incentives to the companies or institutions for the development of drugs which can treat rare cancer. Once a designation is granted, sponsors receive 25% federal tax credit tax for the costs of clinical testing and are also eligible to pay for FDA grants to further defray these costs. In addition, if the orphan drug receives FDA approval for orphan indication, the Orphan Drug Act provides with a 7 year period of “orphan drug exclusivity” during which competitors are prohibited from marketing the same drug to treat the same disease.
By region, US is holding more than 50% share in the global market which is attributed mainly due to favorable government policies and presence of large number of research centers which are investing in this segment. Apart from this, satisfactory reimbursement policies and co-pay programs for leading orphan drugs is also enhancing the adoption rate among US. For instance, Amgen FIRST STEP™ Program in US helps eligible commercially insured patients to pay for their out-of-pocket prescription costs, including deductible, co-insurance and co-payment.
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 the promising response of these drugs in the management of lymphoma and other cancers. Rising expenditure on the development of healthcare infrastructure, growing uptake of premium-priced products such as immune checkpoint inhibitors, increase in the initiatives by the government to promote awareness in the backward areas, and upsurge in the strategic collaboration rate among the market players are other factors also fostering the growth of the market.
