Orphan Drugs Market Worldwide Premier CAGR of 11.56% with Expected to Reach USD at a 142.85 Bn – Outlet Till 2023
Global Orphan Drugs Market - Synopsis
Orphan drugs are generally used for treating rare disorders and diseases that affect a small percentage of the population. There are approximately 30 million in Europe, 30 million people in the US, and 350 million people worldwide who suffer from 7,000 types of rare diseases.
Disorders among which four-fifths of the rare diseases are genetic and 50 % of the crowd affected being children. Only 5 % of the rare diseases had approved drug treatment with 326 new drugs being approved by FDA and brought to the market.
Get Prime Sample Report at https://www.marketresearchfuture.com/sample_request/2312
Global Orphans Drug Market Segmentation
Globally, the market for orphan drugs has been segmented on the basis of application, pharmacological class, source, technology, and region.
The market has been segmented into enzyme replacement, protein replacement, and gene chromosome expression based on pharmacological class.
The market has been segmented into oncology, blood-related disorders, neurology, nephrology, and infectious diseases based on applications. Among these, oncology is predicted to dominate the market owing to the increasing drug approvals for treating rare cancers.
The market has been segmented into Transgenic, DNA recombination, and gene expression based on technology.
The market has also been segmented into biological orphan drug and non-biological orphan drug based on source. Among these, biological orphan drug leads the market in terms of revenue and is predicted to maintain its dominance over the assessment period owing to the high efficacy of biologic products for treating diseases.
Future Drivers and Constraints Affecting the Market
Growing investment in R&D, unmet requirement for rare diseases, economic, legislative, and tax benefits offered by the government, high ROI, development of latest technologies like hybridoma, gene mapping, and DNA recombinant, extensive exclusivity, and faster uptake and low marketing cost are some of the major factors driving the market over the forecast period.
There has been a growing demand for drugs for rare diseases such as Yellow Fever, Von Willebrand Disease, Aarskog Syndrome, Waardenburg Syndrome, diabetic macular edema, Abetalipoproteinemia, Autism spectrum disorder (ASD), Yellow Nail syndrome, Asperger syndrome, Von Hippel-Lindau Disease, and others which is contributing towards the growth of the market. Moreover, FDA free waivers, R&D grants by the government, favorable reimbursement policy along with premium pricing owing to the low competition also contribute the market growth.
Global Orphan Drugs Market - Competition Analysis
The key players operating the market for orphan drugs are Alexion Pharmaceuticals Inc., Bayer AG, Sanofi, Celgene Corporation, Novartis AG, Biogen Idec Limited, Hoffmann- La Roche, Takeda Pharmaceuticals Company Limited, Bristol-Myers Squibb, Vertex Pharmaceuticals Inc. Johnson & Johnson, and others.
Meanwhile, high cost of development, extensive post-market surveillance, costly clinical trials, monopolized and unitary market, concern over safety, competition from biosimilars and generics are some of the restraining factors inhibiting the growth of the market over the forecast period. Moreover, active distribution and commercialization can be hindered by differential availability of developing and developed countries, owing to socio-economic factors.
Global Orphan Drugs Market - Industry News
The FDA has granted orphan drug designation to Surface Oncology's lead investigational candidate SRF231 which is a potential treatment for patients suffering from multiple myeloma. The SRF231 is a human monoclonal antibody therapeutic targeting CD47, a protein overexpressed on cancer cells to prevent them from being eliminated and engulfed by macrophage-mediated phagocytosis.
Browse Complete 84 Pages Premium Research Report Enabled with 121 Respective Tables and Figures at https://www.marketresearchfuture.com/reports/orphan-drugs-market-2312
North America to Dominate the Market
Geographically, the market for orphan drugs has been spanned across regions such as North America, Europe, Asia Pacific, Middle East and Africa.
North America has been estimated to hold the largest market share owing to well-established healthcare infrastructure, favorable regulations for drug approval for rare diseases, initiatives by non-governmental and governmental agencies to increase awareness related to use of orphan drugs, and drug exclusivity status received by orphan drugs. Moreover, US contributes substantially to the market which calls for strong R&D for development of orphan drugs.
Market Research Future (MRFR), enable customers to unravel the complexity of various industries through Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Market Research Future
Office No. 528, Amanora Chambers
Magarpatta Road, Hadapsar,
Pune - 411028
Phone: +1 646 845 9312
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Orphan Drugs Market Worldwide Premier CAGR of 11.56% with Expected to Reach USD at a 142.85 Bn – Outlet Till 2023 here
News-ID: 1376321 • Views: 193
More Releases from Market Research Future
Feed Acidulants Market: Top Suppliers, Business Development Market and Forecast …
Feed Acidulants Market-Overview The escalation in animal feed demand due to increased livestock rearing is estimated to boost the feed acidulants market. The agriculture reports are made by Market Research Future, which includes market choices for advance. A promising CAGR is estimated to promote the global market in the coming period. The raised intake of animal-based products is predicted to add momentum to the feed acidulants industry share in the forthcoming period.
Consumption of Organically Grown Crops to Benefit Global Biorational Pesticides …
Biorational pesticides are materials which causes minimal to zero harm to humans, animals, and the surrounding environment. These pesticides can contain organisms or formulations derived from biological entities. The global biorational pesticides market report by Market Research Future (MRFR) contains insights on growth enablers, opportunities, restraints, and challenges to be faced by the industry for the period of 2018 to 2023 (forecast period). The outbreak of the COVID-19 virus and
Bicycle Apparels and Accessories Market To Benefit From Healthy Lifestyle Adopti …
Bicycle Apparels & Accessories Market-Overview Increased engagement in outdoor activities and increased knowledge of the benefits of these activities on a child's health have driven the global cycling apparels and accessories market in recent years. According to Market Research Future, the market will gain a CAGR of 5.05% and reach a value of USD 9,529.1 million by 2027. The global bicycle apparels and accessories market grew due to increased participation in outdoor
Are Wireless Phone Chargers the Perfect Alternatives to their Wired Counterparts …
Introduction to Wireless Phone Charging Wireless phone charging is currently all the rage worldwide, given its ability to deliver energy from a single power source to the phone without requiring wires or any connections. The charging station gives out energy, on the other hand, a receiver (in this case, the phone) takes in the energy to charge the battery. To charge phones, wireless charging is one of the most convenient, safe
More Releases for Orphan
FDA grants orphan drug status to Vicore
US Food and Drug Administration has awarded Vicore Pharmaceuticals with orphan Drug designation for the treatment of Idiopathic Pulmonary Fibrosis (IPF). FDA’s Orphan Drug Designation program provides certain incentives for companies developing therapeutics to treat rare diseases or conditions, defined as those affecting less than 200,000 individuals in the U.S. A drug candidate and its sponsor must meet several key criteria in order to qualify for, and obtain, orphan drug
Orphan Drugs for Cancer Pipeline Analysis
A huge market opportunity is offered by small patient population which suffers from rare or orphan diseases. Among the category of new orphan drugs, Oncology account for the largest disease group in recent years. It has been observed that majority of the orphan drugs in the clinical stages are for rare cancer disease drugs, and are in the late stages of the pipeline. Some of the drugs are being developed
US Orphan Drug Pipeline Analysis
In recent years, the pharmaceutical industry has been experiencing a paradigm shift. While a large pool of patients was considered as a major source of revenue for pharma companies in the past, the focus is now gradually shifting to small sections of patients suffering from rare disease. In US, this pool of patients is gradually growing and orphan drugs are becoming an extremely attractive business proposition for the pharmaceuticals industry.
Europe Orphan Drugs Pipeline Analysis
“Europe Orphan Drugs Pipeline Analysis” by PNS Pharma gives comprehensive insight on the various drug profiles under Orphan Drugs status in Europe. Research report covers all the ongoing drug development in various phases. Each drug profiles include detailed information like: Originator, Owner, Collaborator, Technology Provider, Licensee, Development Phase, Development Indications, Mechanism of Action, Chemical Formula, Country of Development and detailed analysis on the development process. The information for particular drug
Global Orphan Drug Pipeline Analysis
In recent years, the pharmaceutical industry has been experiencing a paradigm shift. While a large pool of patients was considered as a major source of revenue for pharma companies in the past, the focus is now gradually shifting to small sections of patients suffering from rare disease. In US & Europe, this pool of patients is gradually growing and orphan drugs are becoming an extremely attractive business proposition for the
Global Orphan Drug Clinical Pipeline Insight 2022
“Global Orphan Drug Clinical Pipeline Insight 2022” report gives comprehensive insight on various clinical and non-clinical aspects associated with ongoing clinical trials of 808 orphan designated drugs across the globe. The in-depth clinical insight presented in the report helps the reader to analyze and identify the various stakeholders involved in the clinical development and commercialization of orphan designated drugs in the global market. Currently there are more than 300 orphan