Orphan Drugs Market Report, Top Companies, Industry Trends, Demand, Driving Factors and Future Growth 2021-2026

According to IMARC Group’s latest report, titled “Orphan Drugs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026“, the global orphan drugs market reached a value of US$ 174.7 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 9.8% during 2021-2026.

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.

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Orphan drugs refer to medications that are intended for diagnosing, preventing and treating rare, life-threatening diseases or disorders. As they traditionally had a limited market, very few pharmaceutical companies pursued research into these products. Moreover, orphan drug research is dependent on government incentives. However, the growing number of rare diseases lacking treatment, along with improving access to healthcare and spending capacity of individuals, has led to a significant rise in the demand for orphan drugs.

Market Trends and Drivers:

At present, incentives for drug development provided by government authorities in various countries are encouraging pharmaceutical companies to develop orphan drugs. For instance, the United States Food and Drug Administration (USFDA) offers benefits such as fast-track approval, protocol assistance, waiver of fees and marketing exclusivity to manufacturers, facilitating the development and commercialization of diagnostic tools and treatments devoted to rare diseases. Furthermore, there has been a rise in the development of orphan biological drugs that can prevent or treat various forms of cancer, tumors and blood disorders, which, in turn, is contributing to the orphan drugs market growth. In 2019, the Center for Drug Evaluation and Research (CDER), a division of the USFDA, approved various new orphan drug therapies for patients with numerous disorders, including tenosynovial giant cell tumor, sickle cell disease, diffuse large B-cell lymphoma, mantle cell lymphoma, acquired thrombotic thrombocytopenic purpura, beta-thalassemia, and acute hepatic porphyria.

Orphan Drugs Market 2021-2026 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the orphan drugs market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:                                                                                 

  • AbbVie Inc.
  • Johnson & Johnson
  • Amgen Inc.
  • Biogen Inc.
  • F. Hoffmann-La Roche AG (Roche Holding AG)
  • Merck & Co. Inc.
  • Jazz Pharmaceuticals Plc
  • Novartis AG
  • Pfizer Inc.
  • Sanofi S.A.
  • Takeda Pharmaceutical Company Limited
  • Alexion Pharmaceuticals Inc.
  • Bristol-Myers Squibb Company
  • Teva Pharmaceutical Industries Ltd.

Key Market Segmentation:

The report has segmented the global orphan drugs market on the basis of drug type, disease type, phase, top selling drugs, distribution channel and region.

Breakup by Drug Type:

  • Biological
  • Non-Biological

Breakup by Disease Type:

  • Oncology
  • Hematology
  • Neurology
  • Cardiovascular
  • Others

Breakup by Phase:

  • Phase I
  • Phase II
  • Phase III
  • Phase IV

Breakup by Top Selling Drugs:

  • Revlimid
  • Rituxan
  • Copaxone
  • Opdivo
  • Keytruda
  • Imbruvica
  • Avonex
  • Sensipar
  • Soliris
  • Others

Breakup by Distribution Channel:

  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Stores
  • Others

Breakup by Region:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • Middle East and Africa

Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/orphan-drugs-market

Key Highlights of the Report:

  • Market Performance (2015-2020)
  • Market Outlook (2021-2026)
  • Porter’s Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • The Impact of COVID-19 on the Global Market
  • Value Chain Analysis
  • Structure of the Global Market
  • Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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