Discover Global Orphan Drug Market Upcoming Trends, Growth Drivers and Challenges | Top Key Players - Bayer, Amryt Pharma Plc., Bristol-Myers Squibb Company, Novartis AG, Celgene Corporation, F. Hoffmann-La Roche AG, and Pfizer Inc

Summary:

A new market study, titled “Worldwide Orphan Drug Market Research Report, Analysis, Overview, Trends 2018” has been featured on WiseGuyReports.

Introduction

The orphan drug market is projected to grow at a CAGR of 10.94% to reach US$285.799 billion in 2023 from US$153.275 billion in 2017. During the forecast period, prescription sales in the orphan drug sector are projected to grow at twice the rate of the overall prescription market. However, various government authorities encourage to develop and market orphan drugs. The cost incurred during the research and development of orphan drugs is higher when compared with non-orphan drugs. The orphan drug market is classified into various segments by disease types, indication, and geographical regions. In the orphan drugs disease type segment, oncologic diseases occupied a significant share of the market and the segment is predicted to maintain the attained growth trend during the forecast period. This is due to the growing prevalence of different forms of rare cancers, such as leukemia, myeloma, angiosarcoma, and others prevalent in the patient population.

By Disease Type
The global orphan drug market is segmented into various types of diseases orphan drug manufacturing companies’ target, namely oncologic diseases, metabolic diseases, hematologic and immunologic diseases, infectious diseases, neurologic diseases, and other RARE Diseases. The Oncologic segment of the orphan drug market was the most dominant sector due to a large number of rare cancer form cases found in patients. Oncology segment is expected to maintain the trend and will be the key segment during the period of the next five years.

By Product Type
The global orphan drug market is segmented into two segments on basis of the origin of their components, biological or non-biological. The global orphan drug market is offering products that are driven by biological or non-biological sources. Biological products are costlier as extraction and purification take large investments and also sometimes source may be rare which adds on to the cost.

By Geography
The global orphan drug market is expanding globally to cure rare diseases and thus expected to grow in all regions. North America is estimated to have a significant market share due to the high number of research and development going on in the region coupled with high medical cost and skilled labor force available in the region.

Competitive Insights
The orphan drug market is competitive owing to the presence of well-diversified global players. Various pioneer companies in the orphan drug market are Bayer, Amryt Pharma Plc., Bristol-Myers Squibb Company, Novartis AG, Celgene Corporation, F. Hoffmann-La Roche AG, and Pfizer Inc. among others.

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Segmentation
The orphan drug market has been analyzed through the following segments:
• By Disease Type
o Oncologic Disease
o Metabolic Disease
o Hematologic and Immunologic Disease
o Infectious Disease
o Neurologic Disease
o Others
• By Product Type
o Biological Products
o Non-biological Products
• By Geography
o North America
o USA
o Canada
o Others
o South America
o Brazil
o Others
o Europe
o Germany
o France
o United Kingdom
o Others
o Middle East and Africa
o Saudi Arabia
o Israel
o Others
o Asia Pacific
o China
o Japan
o South Korea
o India
o Others
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Table of Contents

1. INTRODUCTION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
5. ORPHAN DRUG MARKET BY DISEASE TYPE
6. ORPHAN DRUG MARKET BY PRODUCT TYPE
6. ORPHAN DRUG MARKET BY PRODUCT TYPE
8. COMPETITIVE INTELLIGENCE
9. COMPANY PROFILES

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This release was published on openPR.