Vancouver, April 27, 2023 (GLOBE NEWSWIRE) -- In its latest report, Data Bridge Market Research dissects growth strategies, drivers, opportunities, key segments, Porter's Five Forces analysis, and the competitive environment in "Orphan Drugs Market" providing valuable insights for businesses operating in the industry. The steadfast Orphan Drugs market analysis report is a believable source for gaining market research that will exponentially accelerate business growth. This industry research report is designed to provide granular quantitative information, combined with key industry insights, aimed at assisting sustainable organizational development. It analyzes the demand for products by component. The recently organized research of this report suggests that the global market is widely responsible to provide significant information on the market status and desirable businesses with respect to each manufacturer.
The wide-ranging Orphan Drugs business report offers a comprehensive analysis of the healthcare industry. In a fast-paced industry, when information is often needed quickly, secondary market research and thereby this market report is the best way to gather that information. Besides, the Orphan Drugs market research report helps product owners to understand the changes in culture, target market as well as brands so they can draw the attention of potential customers more effectively. Research reports save time by providing insights as well as help to validate information gathered through primary sources.
Data Bridge Market Research analyses that the orphan drugs market, which is USD 174.11 billion in 2022, is expected to reach USD 359.86 billion by 2030, at a CAGR of 9.5% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Orphan drugs are medical products intended to prevent, diagnose, or treat rare, life-threatening disorders. These are known as orphan drugs because the pharmaceutical industry has little interest in developing and marketing these products for a small number of patients under normal market conditions.
The rapid rise in the prevalence of hypertension, diabetes, and cardiovascular diseases is expected to accelerate market growth from 2023 to 2030. Similarly, an increase in the prevalence of rare diseases and an increase in healthcare expenditure are expected to boost the growth of the orphan drugs market. Additionally, favorable reimbursement policies and favourable government policies are expected to drive market growth. Additionally, the expansion of the product pipeline through the launch of new drugs and an increase in the rate of R&D initiatives are expected to influence the growth of the orphan drugs market.
Recent Developments
- In 2020, Retrophin Inc., a biopharmaceutical company based in the United States, paid $90 million for Orphan Technologies. This agreement includes OT-58, a novel enzyme replacement therapy for treating classic homocystinuria currently in Phase 1/2 trials. The acquisition expands the pipeline of potential first-in-class treatments for rare diseases. Orphan Technologies is a clinical-stage biopharmaceutical company based in Switzerland that is focused on the development of OT-58.
The Global Market Is Analyzed in Depth in the Latest Study. Taking into account the current level of competition and its projected evolution over the next few years.
Rapidly increasing demands, a rise in industrialization, consumer awareness, growing sectors, and technical improvements are fueling the expansion of the global Orphan Drugs market. Sales and revenue in this sector have increased at an exponential rate. The market's size and growth are both expected to increase thanks to the factors driving the market's expansion over the projected period.
Leading businesses in the Orphan Drugs Industry are investing heavily in R&D in order to build a larger client base and expand their share of the market by reintroducing improved products to consumers. All of the companies' strategy, as well as their financial health, revenue, gross margin, and growth rate, are detailed in the study.
Some of the major players operating in the orphan drugs market are:
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Novartis AG (Switzerland)
- Pfizer Inc. (U.S.)
- Eli Lilly and Company (U.S.)
- Johnson & Johnson Services Inc. (U.S.)
- Merck KGaA (Germany)
- Novo Nordisk A/S (Denmark)
- Bristol-Myers Squibb Company (U.S.)
- Alexion Pharmaceuticals, Inc. (U.S.)
- Kyowa Kirin Co., Ltd. (Japan)
- Amgen Inc. (U.S.)
- Biogen (U.S.)
- Celldex Therapeutics (U.S.)
- GSK plc. (U.K.)
- Eisai Co., Ltd. (Japan)
- Takeda Pharmaceutical Company Limited (Japan)
- Vertex Pharmaceuticals Incorporated (U.S.)
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The report includes six parts, dealing with:
- Basic information
- The Asia Orphan Drugs Market
- The North American Orphan Drugs Market
- The Europe Orphan Drugs Market
- MEA Orphan Drugs Market
- Market entry and investment feasibility
- The report conclusion
All the research report is made by using two techniques that are Primary and secondary research. There are various dynamic features of the business, like client need and feedback from the customers. Before (company name) curate any report, it has studied in-depth from all dynamic aspects such as industrial structure, application, classification, and definition.
Opportunities:
- Rising prevalence of rare diseases
Recurrent, chronic, and rare illnesses, as well as increased demand for significant amounts of orphan drug production, are expected to affect approximately 300 million people worldwide. Rare disease medicines, such as Yellow Fever, von Willebrand Disease, Waardenburg Syndrome, Diabetes Macular Edema, Abetalypoproteinemia, ASD, Yellow Nail Syndrome or Von Hippel Lindau Syndrome and others, are increasing in demand for medicinal products that help increase the market. Furthermore, FDA free exemptions, public R&D grants, favourable reimbursement policies, and premium pricing are available to help businesses grow.
Key Market Segments Covered in Orphan Drugs Industry Research
Drug Type
- Biological
- Non-Biological
Disease Type
- Oncologic Diseases
- Metabolic Disease
- Hematologic and Immunologic Diseases
- Neurological Diseases
Indication Type
- Non-Hodgkin Lymphoma
- Acute Myeloid Leukemia
- Cystic Fibrosis
- Glioma
- Ovarian Cancer
- Multiple Myeloma
- Duchenne Muscular Dystrophy
- Renal Cell Carcinoma
- Graft Vs Host Disease
Drug Type
- Revlimid
- Rituxan
- Opdivo
- Keytruda
- Imbruvica
- Soliris
- Jakaf
- Pomalyst
- Darzalex
- Spinraza
- Adcetris
Sale
- Generics
- Prescribed
Therapy Class
- Oncology
- Blood
- Central Nervous Systems
- Endocrine
- Cardiovascular
- Respiratory
Distribution Channel
- Hospital Pharmacy
- Retail Pharmacy
- Online Sales
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Key Industry Drivers:
- Rising cases of oral cancer
Rare disease treatments frequently necessitate a cold chain, a temperature-controlled supply chain that is not readily available in all countries. People are rarely affected by orphan or rare diseases (i.e. 7 out of 10,000). However, the global prevalence of rare diseases has been increasing in recent years. According to an article shared by the American Cancer Society, in the United States in January 2022, there are approximately 54,000 new cases of oropharyngeal or oral cancer each year. Oropharyngeal or oral cancer claims the lives of 11,230 people. The average age of people diagnosed with these cancers is 63, but they can strike at any age. Patients under the age of 55 account for slightly more than 20% (1 in 5) of all cases. Thus, the rising prevalence of diseases is driving the growth of the orphan drugs market.
Restraints/Challenges
- High cost associated with drug development
A lack of awareness among patients and physicians about orphan disease treatment, as well as high prices associated with these drug development, are expected to be major restraints on the growth of the orphan drugs market, while high per patient treatment costs and regulatory restrictions on profitability may pose a challenge to the market's growth during the forecast period.
This orphan drugs market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the orphan drugs market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Orphan Drugs Market Regional Analysis/Insights:
The countries covered in the orphan drugs market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the orphan drugs market due to high prevalence of rare disorders.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 because of the developing healthcare infrastructure, as well as the high prevalence of other diseases such as endocrinology, cardiovascular and lymphatic systems, and respiratory disorders.
Table of Contents:
- Introduction
- Market Segmentation
- Executive Summary
- Premium Insights
- Global Orphan Drugs Market: Regulations
- Market Overview
- Global Orphan Drugs Market, By Drug Type
- Global Orphan Drugs Market, By Disease Type
- Global Orphan Drugs Market, By Indication Type
- Global Orphan Drugs Market, By Drug Type
- Global Orphan Drugs Market, By Distribution Channel
- Global Orphan Drugs Market, By Sale
- Global Orphan Drugs Market, By Therapy Class
- Global Orphan Drugs Market, By Distribution Channel
- Global Orphan Drugs Market, By Region
- Global Orphan Drugs Market: Company Landscape
- SWOT Analyses
- Company Profile
- Questionnaires
- Related Reports
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