The global orphan drugs market size was valued at USD 151.00
billion in 2019 and is projected to reach USD 340.84 billion by 2027,
exhibiting a CAGR of 10.5% during the forecast period.
The Orphan
Drugs Market research report for 2023–2030 highlights the
important market trends in the industry. In addition to looking at entry barriers,
sales channels, distributors, and Porter's Five Forces Analysis, this market
analysis also looks at market size, market share, growth rate, future trends,
market drivers, opportunities, challenges, and risks. The research shows
changes in CAGR figures over the market's projection period. The leading brands
or companies are generally accountable for the modifications in the market
landscape through their innovations, product launches, joint ventures, mergers,
and acquisitions, which modify the perception of the industry's global face.
Request A Sample PDF Brochure: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/100088
This Orphan Drugs Market Report provides its clients with
authentic data that aids in making important decisions by providing a market
outlook. This report also keeps track of all recent market advancements and
innovations. It provides information on the challenges faced when starting a
business and offers advice on how to deal with impending difficulties.
Major Market Players Profiled in the Report include:
Market Drivers:
Rising Prevalence of Cancer and Related Diseases Fuels
Demand for Orphan Drugs
The oncology segment is witnessing considerably high demand on account of the rising number of patients suffering from different types of cancers. This also increases the demand for novel therapeutics, which as per the report will bode well for the global orphan drugs market. According to the National Center for Health Statistics, the U.S. is likely to witness around 1,762,450 new cancer cases in 2019. Spurred by these numbers, the demand for orphan drugs is likely to increase in the coming years. Governments are investing heavily to build a strong framework for supporting drug development, thus offering a significant impetus to the orphan drugs market.
Furthermore,
the return on investment, with regards to orphan drugs, is expected to be
higher than non-orphan drugs, which in turn is increasing the demand for orphan
drug therapeutics worldwide. “People across the world are becoming more aware
about the rising prevalence of rare disorders and importance of orphan drugs,”
stated a lead analyst at Fortune Business insights. “This, coupled with robust
support from EU and FDA to drug development, drives the orphan drugs market,”
he added. Several pharma companies are also putting continuous efforts to
develop orphan drugs, thus improving creating scope for generating more revenue
in the overall global market for orphan drugs.
Segmentation:
By Therapy Area
·
Oncology
·
Hematology
·
Neurology
·
Endocrinology
·
Cardiovascular
·
Respiratory
·
Immunotherapy
·
Others
By Drug Type
By Distribution Channel
Regional Analysis:
North America Continues to Remain Strong Until 2027
Backed by Governments Support
North America dominated the global orphan drugs market in 2019 by generating a revenue of 151.00 Billion. The region continues to remain strong throughput the forecast period between 2019 and 2027. The rising support from governments regarding research and development (R&D) of orphan drugs is driving the market in North America. This region is likely to witness the highest number of FDA approvals for the orphan drug development, encouraging
companies to develop new orphan drugs. Further to this, the
increasing emphasis on the implementation of orphan drugs act in North America
is likely to create growth opportunities in the market. Besides North America,
Europe is also anticipated to witness considerable growth owing to the
incentivization of orphan drug manufacturing. Asia Pacific is expected to
exhibit a considerable CAGR during the forecast period. This is ascribable to
the increasing prevalence of rare diseases.
This Report Aims To Provide:
An analysis, both qualitative and quantitative, of the
dynamics, trends, and projections for the years 2023 to 2030.
The use of analysis tools like SWOT analysis and Porter's
five force analysis helps to explain how capable buyers and suppliers are of
making decisions that will strengthen their companies bottom lines.
The current market opportunities are identified through a
thorough analysis of market segmentation.
Ask For Customization: https://www.fortunebusinessinsights.com/enquiry/ask-for-customization/100088
Questions Answered in the Orphan Drugs Market Research
Report
Related Reports:
Veterinary
Anesthesia Equipment Market
Viral
Clearance Market
U.S.
Bone Void Fillers Market
Sepsis
Diagnostics Market
Viral
Vaccines Market
About us:
Fortune Business Insights™ provides accurate data and
innovative enterprise analytics to help organizations of all sizes make better
decisions. We tailor novel solutions for our clients to help them meet a
variety of unique business challenges. Our aim is to provide a detailed
overview of the markets in which they operate to provide holistic market intelligence.
Address:
Fortune Business Insights Pvt .
9th Floor, Icon Tower, Burner –
Pune-411045,
India, Maharashtra.
Telephone:
USA: +1 424 253 0390
UK: +44 2071 939123
Asia Pacific: +91 744 740 1245
The Wall