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Orphan Drugs Market Growing CAGR of 11.6% with Renowned Players as Hoffmann- La Roche, Celgene Corporation, Alexion Pharmaceuticals and more. – Outlet Till 2023
Orphan Drugs Market
Global Orphan Drugs Market - Overview
The orphan drugs market is developing exponentially owing to the growing investment in research and development and unmet needs for rare diseases are the key factor driving the orphan drugs Market. The global market for orphan drugs is expected grow at a CAGR of 11.6% over the forecasted period.
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Currently, these orphan drugs are representing 35% of the total new drug approvals in the industry. The orphan drugs are disorders that affects a small percentage of the population. A pharmaceutical product aimed at rare diseases or disorders is known as an orphan drug. The major driving factor for the growth are extensive exclusivity, low marketing cost, legislative and tax benefits, government support leading to economic, and new technology development such as DNA recombinant, gene mapping, and hybridoma.
The limitation of distribution and commercialization channels are due to the differential availability of the product in the developed and developing countries due to social and economic factors.
Global Orphan Drugs Market - Key Players
Celgene Corporation (U.S.), F. Hoffmann- La Roche AG (Switerzland), Alexion Pharmaceuticals, Inc. (U.S.), Bayer AG (Germany), Takeda Pharmaceuticals Company Limited (Switerzland), Biogen Idec Limited (U.S.), Eli Lilly and Company (U.S.), Bristol-Myers Squibb Company (U.S.), Novartis AG (Switerzland), Vertex pharmaceuticals, Inc. (U.S.), Sanofi (France), Johnson & Johnson (U.S.), Aegerion Pharmaceuticals, Inc. (U.S.), Amgen Inc. (U.S.), GlaxoSmithKline plc (U.S.), Merck & Co., Inc. (U.S.), Boehringer Ingelheim GmbH (Germany), AstraZeneca plc (UK), and others are some of the prominent players at the forefront of competition in the global orphan drugs market and are profiled in MRFR Analysis.
Global Orphan Drugs Market - Company Analysis
This market is highly fragmented and is dominated by five major vendors including F. Hoffmann La Roche AG, Celgene Corporation, Bristol-Mayer Squibb Company, Novartis AG, and Pfizer Inc. as these are supposed to have extensive product portfolios. Factors such as the stringent rules and regulations, patent expiry of branded drugs, decreased R&D productivity, and high regulatory barriers are some significant challenges to the vendors during the forecast period.
Global Orphan Drugs Market - Industry Updates
Jan, 2017 Acucela Inc. received orphan drug FDA approval for emixustat for treatment of Stargardt disease. This approval is anticpated to be essential for the treatment of this genetic disease.
Nov, 2015 Ocata Therapeutics was acquired by Astellas Pharma to expand its product portfolio for treatment of retinal disorders such as age-related macular degeneration and Stargardt disease
June, 2015 Johns Hopkins University and Bayer Healthcare agreed to sign a five year collaboration agreement for developing treatment for diabetic macular edema, retinal vein occlusion, Stargardt's disease, geographic atrophy, and age-related macular degeneration
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Global Orphan Drugs Market - Regional Analysis
The global orphan drugs market is segmented into four major regions including Americas, Europe, Asia Pacific, and Middle East and Africa region.
Globally, the Americas region is considered to be the largest market for orphan drugs. Factors such as the increasing government incentives, and high product demand are expected to promote market growth in the US region, which is reflected to be the highest revenue-generating region in the Americas.
The European regions is the second-largest market for Global orphan drugs. The upcoming market for orphan drugs is predicted to be subjugated by the developed regions with developing regions acting as a support pillar for its growth.
Asia Pacific will be the fastest growing regional market and is likely to be the key to the future. Middle East & Africa is expected to have limited but steady growth in the market.
Major Table of Content:
1 Introduction
2 Research Methodology
3 Market Dynamics
4 Market Factor Analysis
5 Global Orphan Drugs Market, By Application
6 Global Orphan Drugs Market, By Pharmacological Class
7 Global Orphan Drugs Market, By Technology
8 Global Orphan Drugs Market, By Source
9 Global Orphan Drugs Market, By Regions
10 Company Landscape
11 Company Profile
12 Appendix
TOC Continued……
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