The Orphan Drugs Market Size is valued at 174.59 Billion in 2022 and is predicted to reach 521.10 Billion by the year 2031 at a 13.26 % CAGR during the forecast period for 2023-2031.
Orphan drugs market are recognized as the potential therapeutic market because diseases which are covered under the market are life-threatening diseases to treat disease which are very rare. More often rare diseases are genetic and present throughout a person’s entire life, even though symptoms may not immediately appear.
The prevalence of patients suffering from rare disorders is less, for instance, According to the survey carried out by QuintilesIMS Institute, only 6,084 rare diseases were reported in the US in 2016, because of this many pharmaceutical industries do not entertain the manufacturing of orphan drugs. Thus, less adoption rate of these drugs restrains the market. However, the various financial and legal incentive provided by the governments and technological advancement expected to fuel the growth of market near the future.
Market Segmentation
The Global Orphan Drugs market is segmented on the basis of drug type, top selling drug and therapy area. Based on the drug type, the market is divided into biological, non-biological. On the basis of top selling drug, the market is segmented into revlimid, rituxan, copaxone, opdivo, keytruda, imbruvica, avonex, sensipar, soliris and other top selling drugs. based on the therapeutic area, the market is divided into oncology, blood, central nervous system, endocrine, cardiovascular, respiratory, immunomodulatory and other disease types. Based on region, the market is studied across North America, Asia-Pacific, Europe, and LAMEA. Among that Europe held the largest share of the market, followed by America and Asia Pacific. On the other hand, North America is expected to dominate the market during the analysis of forecast period.
Competitive Landscape
Some Major Key Players In The Orphan Drugs Market:
- Bristol-Myers Squibb Company,
- Celgene Corporation,
- Hoffmann-La Roche Ltd,
- Amgen,
- Biogen,
- Bayer,
- Novartis AG, plc,
- Johnson & Johnson,
- AbbVie Inc,
- Eli Lilly and Company,
- Alexion, Pharmaceuticals,
- Shire,
- Novo Nordisk,
- AstraZeneca,
- Eisai,
- Daiichi Sankyo,
- Merck,
- Teva, Pharmaceutical Industries,
- Actelion Pharmaceuticals Ltd.,
- Aegerion Pharmaceuticals
Orphan Drugs Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2022 |
USD 174.59 Billion |
|
Revenue Forecast In 2031 |
USD 521.10 Billion |
|
Growth Rate CAGR |
CAGR of 13.26 % from 2023 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Billion and CAGR from 2023 to 2031 |
|
Historic Year |
2019 to 2022 |
|
Forecast Year |
2023-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Drug Type, By Top Selling Drugs, By Therapy Area |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Bristol-Myers Squibb Company, Celgene Corporation, F. Hoffmann-La Roche Ltd, Amgen, Biogen, Bayer, Novartis AG, GlaxoSmithKline plc, Johnson & Johnson, AbbVie Inc, Eli Lilly and Company, Alexion, Pharmaceuticals, Shire, Novo Nordisk, AstraZeneca, Eisai, Daiichi Sankyo, Merck, Teva, Pharmaceutical Industries, Actelion Pharmaceuticals Ltd., Aegerion Pharmaceuticals Players among others. |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
