Market Research Report
Orphan Drugs Market with COVID-19 Impact Analysis, By Drug Type, By Disease Type, and By Region - Size, Share, & Forecast from 2021-2027
|Orphan Drugs Market with COVID-19 Impact Analysis, By Drug Type, By Disease Type, and By Region - Size, Share, & Forecast from 2021-2027|
Published: March 1, 2021
AnalystView Market Insights
Content info: 267 Pages
Delivery time: 2-3 business days
The global Orphan Drugs market was valued at USD 160.0 billion in 2020, growing with 10.9% CAGR during the forecast period, 2021-2027.
Orphan drugs are termed as a molecule which is used for treating rare diseases. According to European Organization, these drugs are produced for the treating, diagnosis, & prevention of rare diseases. Thus, the patients suffering from these disorders seek potent treatment.
The Orphan Drug market is estimated to witness a substantial growth rate in the next few years. The increasing target population with rare diseases and rising R&D investment is boosting the growth of orphan drugs. To reduce the growing prevalence of rare diseases, the developed and developing countries have formulated regulations that promote drug development and enabling these drugs so that they can available easily to patients. The average approval time of a non-orphan drug is around 13 months. European Union (EU) has implemented similar initiatives for the development of drugs. Some of them include Specialty Solidarity Fund in Belgium, Italy- AIFA 5.0% Fund.
Furthermore, the increasing R&D investment by key players for drug development is also boosting the market growth. In addition, the growing awareness levels about rare diseases the number of clinical biopharmaceutical companies have a strong pipeline for clinical trials of orphan drugs. Further, the increasing number of research & development of disease therapeutics is expected to positively impact market growth. The growing target patient population with rare is expected to bolster the market growth. For example, According to the European Organization of rare diseases in 2020, over 300.0 million people are suffering from one or more rare diseases across the world. However, the high cost linked with orphan drugs may restrain the growth of the market.
The orphan drugs market is segregated into drug type and disease type segments. Based on drug type, the biologics segment held the largest revenue share in 2019. By disease type, the oncology segment is projected to offer potential growth opportunities for the market over the forecast period.
North America held the largest revenue share of over 45.0% in 2019. The presence of an established healthcare network, key players and a growing patient population is boosting regional growth. In addition, supportive government policies, & funding are boosting regional growth. For example, according to NIH, in 2017, there were around 7,000 rare diseases found in the U.S. with approximately 25 to 30.0 million Americans sufferings from rare diseases. Europe is projected to exceed at a significant rate from 2021 to 2027. Asia Pacific is expected to expand at the highest CAGR over the forecast period.
The orphan drugs market is moderately competitive with the major dominating the global market. The top players include F.Hoffman La Roche AG, Johnson & Johnson, and Novartis AG. TE Connectivity Ltd and Honeywell International, Inc. Key players in the market engage in strategic initiatives, collaboration, and new product developments to remain competitive in the market. For example, in May 2020, AstraZeneca has received FDA approval product that is used for treating acromegaly a rare disease.
Key features of the study:
This proposed research study on Orphan Drugs market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2020-2027), considering 2019 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Orphan Drugs market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Orphan Drugs market
Impact of COVID-19 on Orphan Drugs market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Orphan Drugs market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the Orphan Drugs market, we have also included competitive landscape and key innovator analysis for the Orphan Drugs market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and end-user's attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the Orphan Drugs market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new product launch, research & development, regional expansion of major participants involved in the Orphan Drugs market on global as well as regional level.
The global Orphan Drugs market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL ORPHAN DRUGS MARKET KEY PLAYERS
F. Hoffman LA Roche AG
Novo Nordisk A/S
Johnson & Johnson
Takeda Pharmaceutical Company Limited
Bristol Myers Squibb Company
Alexion Pharmaceutical Inc.
DAIICHI SANKYO Company Ltd.
GLOBAL ORPHAN DRUGS MARKET, BY DRUG TYPE
GLOBAL ORPHAN DRUGS MARKET, BY DISEASE TYPE
GLOBAL ORPHAN DRUGS MARKET, BY REGION
Rest of Europe
Rest of APAC
Rest of LATAM
The Middle East and Africa
United Arab Emirates
Rest of MEA
List of Tables
List of Figures