Market Research Future adds new report of “Global Orphan Drugs Market Research Report - Forecast to 2022” it contains Company information, geographical data and Table of Content
Hoffmann- La Roche, Celgene Corporation, Alexion Pharmaceuticals, Inc., Novartis AG, Takeda Pharmaceuticals Company Limited, Biogen Idec Limited, and Eli Lilly, Bristol-Myers Squibb, Vertex pharmaceuticals, Inc. Bayer AG, Sanofi, and Johnson & Johnson.
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Global orphan drugs market has been segmented On the basis of pharmacological class, applications, technology, source and region.
Global orphan drugs (Global orphan drugs) are drugs used for the treatment of rare diseases and disorders that affects a small percentage of the population.
There are approximately 7,000 different types of rare diseases and disorders and an estimated 30 million people in the United States, 30 million in Europe and 350 million people worldwide suffer from rare disease. Four fifth of rare diseases are genetic in origin, with 50% of the people affected being children. The distribution of rare diseases is skewed with four fifth cases accounted by some 350 rare diseases. Only 5% of rare diseases have approved drug treatment with only 326 new drugs being approved by the FDA and brought to market.
In 2015, orphan drug sales were of the order of 93 billion. Orphan drugs, represented 35% of the industry’s new drug approvals. The $93 billion (2015) global orphan drug market, is projected to reach $200 billion in 2022, reflecting a compound annual growth rate (CAGR) of 11.56%. The revenues of biological orphan drug market and non-biological drug market will be 142.85 billion and 57.14 billion respectively in 2022.
The major driving factor for the growth are unmet needs for rare diseases and the growing investment in research and development, legislative, economic and tax benefits provided by governments, high return on investment, development of new technologies such as DNA recombinant, hybridoma and gene mapping, faster uptake and low marketing cost and extensive exclusivity.
However constraints such as high cost of development followed by costly clinical trials and extensive post market surveillance, monopolized and unitary market, competition from generics and biosimilars, and concern over the safety are threats which have to be managed. Active commercialization and distribution can be hindered by the differential availability of developed and developing countries due to social and economic factors.
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Regional Analysis of Global orphan drugs Market:
Globally North America is the largest market for Global orphan drugs. Europe is the second-largest market for Global orphan drugs. The near future market for orphan drugs will be dominated by the developed regions with developing regions providing a supporting role only. However the developing regions market particularly Asia Pacific will be the fastest growing and is likely to be the key to the future.
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