Orphan Drugs Market Overview:
Global Orphan Drugs Market was valued at $106 billion in 2015 and is expected to garner $169 billion by 2022, registering a CAGR of 6.8% during the forecast period 2016 - 2022. Orphan drug can be defined as a pharmaceutical agent specifically designed to treat rare (orphaned) diseases. These diseases differ from usual diseases as their prevalence rate is very low and hence appeal to a very small patient population. Therefore, as compared to non-orphan drugs, these drugs do not guarantee feasible returns on investment. However, various government authorities encourage to develop and market such drugs. Cost associated with the development of these drugs is higher when compared with non-orphan drugs. The different indications for which orphan drugs are used include lymphoma, leukemia, cystic fibrosis, and others
The demand for orphan drugs has increased significantly owing to surge in prevalence of rare diseases. In addition, the rise in awareness among the populace regarding rare diseases and increase in R&D investment and drug development drive the market growth.
Orphan Drugs Market Segmentation
The orphan drugs market is segmented based on disease type, indication, and geography. Based on disease type, the market is divided into oncologic diseases, metabolic diseases, hematologic and immunologic diseases, infectious diseases, neurologic diseases, and other rare diseases. In the orphan drugs disease type segment, oncologic diseases occupied dominant share in 2015, and the segment is expected to maintain this trend during the forecast period. This is due to the array of different forms of rare cancers, such as leukemia, myeloma, angiosarcoma, and others prevalent in the patient population.
Drivers, Restraints, and opportunities
The impact of the driving factors is expected to overcome the effect of restraints. Moreover, growth in novel indications for known orphan drugs and untapped emerging economies are expected to provide new market opportunities to orphan drug manufacturers in the near future.
Drivers and Restraints
Global Orphan Drugs Market: Key Product Segment
North America accounted for the largest market share in the orphan drugs market in 2015, and is expected to retain its dominance throughout the forecast period.
Global Orphan Drugs Market, By Region, 2015 (%)
The key players operating in the global orphan drug market include AbbVie Inc., Aegerion Pharmaceuticals, Inc., Bristol-Myers Squibb Company, Celgene Corporation, F. Hoffmann-La Roche Ltd., GlaxoSmithKline plc, Johnson & Johnson, Novartis AG, Pfizer Inc. and Sanofi.
India Orphan Drugs Market, 2014-2022 ($Million)
Other prominent players in the value chain include Bayer HealthCare Pharmaceuticals Inc., Vertex Pharmaceuticals, Merck & Co., Inc., Alexion Pharmaceuticals, Inc., Boehringer Ingelheim GmbH, Amgen Inc., Biogen Idec, Actelion Pharmaceuticals Ltd, AstraZeneca plc, and Janssen Biotech, Inc.
Orphan Drugs Market Key Benefits:
- The study provides an in-depth analysis of the global orphan drugs market, with current trends and future estimations to elucidate the imminent investment pockets.
- A quantitative analysis from 2014 to 2022 to enable the stakeholders to capitalize on prevailing market opportunities is discussed.
- Key market players are profiled and their strategies are analyzed thoroughly, which helps understand competitive outlook of the market.
- Porters Five Forces model interprets the bargaining power of suppliers & buyers, threat of new entrants & substitutes, and competition among the key players.
Orphan Drugs Market Key Segments:
By Disease Type
- Oncologic Diseases
- Metabolic Diseases
- Hematologic and Immunologic Diseases
- Infectious Diseases
- Neurologic Diseases
- Other Rare Diseases
- Non-Hodgkin Lymphoma
- Acute Myeloid Leukemia
- Cystic Fibrosis
- Pancreatic Cancer
- Ovarian Cancer
- Multiple Myeloma
- Duchenne Muscular Dystrophy
- Graft vs Host Disease
- Renal Cell Carcinoma
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA