Orphan Drugs Market: Global Industry Outlook, Size (US$ 342.4 Billion), Share, Growth (CAGR of 12.3%), Top Companies Analysis, Research Report 2022-2027

According to IMARC Group's latest report, titled "Orphan Drugs Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", the global orphan drugs market size reached US$ 168.9 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 342.4 Billion by 2027, exhibiting a growth rate (CAGR) of 12.3% during 2022-2027.

Orphan Drugs Market Trends:

The primary factor driving the global orphan drugs market is the growing research and development (R&D) activities and the rising number of rare diseases lacking treatment. This is further influenced by the arrival of new pharmaceutical drug manufacturers, which has accelerated the introduction of new and effective orphan drugs in the market. Additionally, governments of various countries are encouraging pharmaceutical companies to formulate orphan drugs by providing incentives for drug development, which is acting as another factor propelling the market growth. Other aspects, such as improving access to healthcare, the surging prevalence of genetic disorders and cancer, and the adoption of rare disease therapeutics, are providing an impetus to the market growth.

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Year Considered to Estimate the Market Size:

Base Year of the Analysis: 2021
Historical Period: 2016-2021
Forecast Period: 2022-2027

Competitive Landscape With Key Players:

The competitive landscape of the orphan drugs market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• AbbVie Inc.
• Alexion Pharmaceuticals Inc.
• Amgen Inc.
• Biogen Inc.
• Bristol-Myers Squibb Company
• F. Hoffmann-La Roche AG (Roche Holding AG)
• Jazz Pharmaceuticals Plc
• Johnson & Johnson
• Merck & Co. Inc.
• Novartis AG
• Pfizer Inc.
• Sanofi S.A.
• Takeda Pharmaceutical Company Limited
• Teva Pharmaceutical Industries Ltd.

Industry Definition and Application:

Orphan drugs are medications used to treat diseases so rare that sponsors are reluctant to develop them under normal marketing conditions. They are manufactured to meet a specialized health requirement of the public and are used to diagnose and prevent rare and life-threatening diseases or medical disorders. The research on orphan drugs depends on government incentives, which is why they have a limited market and are manufactured for a small group of patients. The drugs are effective against umpteen oncological, immunologic, hematologic, infectious, metabolic, and neurological diseases. They are also used to treat leukemia, glioma, ovarian cancer, pancreatic cancer, lymphoma, cystic fibrosis, multiple renal cell carcinoma, and myeloma. 

Key Market Segmentation:

The report has segmented the global orphan drugs market based on drug type, disease type, phase, top selling drugs, distribution channel and region.

Breakup by Drug Type:

• Biological
• Non-Biological

Breakup by Disease Type:

• Oncology
• Hematology
• Neurology
• Cardiovascular
• Others

Breakup by Phase:

• Phase I
• Phase II
• Phase III
• Phase IV

Breakup by Top Selling Drugs:

• Revlimid
• Rituxan
• Copaxone
• Opdivo
• Keytruda
• Imbruvica
• Avonex
• Sensipar
• Soliris
• Others

Breakup by Distribution Channel:

• Hospital Pharmacies
• Retail Pharmacies
• Online Stores
• Others

Breakup by Region:

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

Ask Analyst for Customization and Explore Full Report With TOC & List of Figures: https://www.imarcgroup.com/request?type=report&id=2382&flag=C

Note: We are updating our reports, if you want the report with the latest primary and secondary data (2023-2028) including industry trends, market size and competitive landscape, etc. click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Key Highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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