Orphan Drugs Market Demand 2022-2027, Global Size, Growth, Segmentation and Industry Analysis

SHERIDAN, WY, USA, August 18, 2022 /EINPresswire.com/ -- 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 are medications that are manufactured to meet a specific health requirement of the public. The products are used to prevent, diagnose, and treat rare and life-threatening diseases or medical disorders. Orphan drugs have a limited market, and their research is dependent on government incentives, which is why they are manufactured for a small group of patients. The drugs are effective against numerous hematologic, infectious, metabolic, oncological, immunologic, and neurological diseases. Apart from this, they also help treat leukemia, pancreatic cancer, lymphoma, cystic fibrosis, glioma, ovarian cancers, and multiple myeloma and renal cell carcinoma.

COVID-19 Impact Analysis:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Orphan Drugs Market Trends:

The increasing number of rare diseases lacking treatment and the rising prevalence of genetic disorders and cancer are primarily driving the market growth. This is further supported by the emergence of new pharmaceutical drug manufacturers who are developing innovate orphan drugs to provide personalized therapy to patients. Moreover, governments of various nations are providing incentives and implementing policies to inhibit the spread of contagious diseases, promote novel drug offerings, and increase clinical trials, which is boosting the market growth. Apart from this, the rising per capita income of consumers and the improving access to healthcare are some other factors accelerating the market growth.

Orphan Drugs Market 2022-2027 Competitive Analysis and Segmentation:

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.

Key Market Segmentation:

The report has segmented the global orphan drugs market on the basis of 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

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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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