Market Research Report
Orphan Drugs Market by Disease Type (Oncological Diseases, Metabolic Diseases, Hematologic & Immunologic Diseases, Infectious Diseases, Neurologic Diseases, and Other Rare Diseases): Global Opportunity Analysis and Industry Forecast, 2021-2030
|Orphan Drugs Market by Disease Type (Oncological Diseases, Metabolic Diseases, Hematologic & Immunologic Diseases, Infectious Diseases, Neurologic Diseases, and Other Rare Diseases): Global Opportunity Analysis and Industry Forecast, 2021-2030|
Published: February 24, 2022
Allied Market Research
Content info: 356 Pages
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The global orphan drugs market was valued at $1,40,000.0 million in 2020 and is projected to reach $4,35,686.3 million by 2030 registering a CAGR of 11.8% from 2021 to 2030.
The pharmaceutical agents administered to treat, diagnose, and prevent life-threatening diseases (rare diseases) are known as orphan drugs. Orphan drugs are used to treat rare (orphaned) diseases prevalent in a very small patient pool. Thus, the pharmaceutical industry takes little interest in their development. Moreover, their development requires high cost and the chances of returns on investment are comparatively less when compared to non-orphan drugs. These drugs treat different rare diseases, such as non-Hodgkin lymphoma, acute myeloid leukemia, cystic fibrosis, and Duchenne muscular dystrophy, graft vs. host disease, and others.
The main factor that drives the growth of the orphan drugs market includes increase in prevalence of rare diseases. In addition, favorable government policies, and availability of market exclusivity for orphan drugs developers further supplement the global orphan drugs market growth.
Conversely, limited patient pool for clinical trials and product marketing, and high treatment costs per patient are expected to obstruct the growth of the market during the forecast years. On the other hand, high growth potential in untapped emerging economies, and rise in novel indications for known orphan drugs are expected to offer profitable opportunities for the growth of the market during the forecast period. The global orphan drugs market is segmented on the basis of disease type, and region to provide a detailed assessment of the market.
By disease type, it is categorized into oncological diseases, metabolic diseases, hematologic & immunologic diseases, infectious diseases, neurological diseases, and other rare diseases such as transplantation diseases, gastrointestinal diseases, dermatologic diseases, perinatal & congenital abnormalities, and others. Oncological diseases segment is further divided into acute myeloid leukemia (AML), pancreatic cancer, ovarian cancer, multiple myeloma, renal cell carcinoma, and others.