Orphan Drugs Market Industry Share, Statistics, Opportunity by 2030
The global orphan drugs market size was valued at USD 151.00 billion in 2019 and is projected to reach USD 340.84 billion by 2027, exhibiting a CAGR of 10.5% during the forecast period.
Fortune Business Insights latest research report, titled “Orphan
Drugs Market: Global Industry Trends, Share, Size, Growth,
Opportunity, and Forecast 2023-2030,” provides a thorough analysis of the
market dynamics, segmentation, growth opportunities, trends, and competitive
landscape to comprehend the present and foreseeable market conditions. The
study provides a variety of market forecasts that take into account factors
such as revenue size, production, CAGR, consumption, growth opportunities,
industry trends and technologies, and other essential elements. The report
provides a comprehensive analysis of the next trends and developments in the
Orphan Drugs Market while highlighting the key driving and restraining forces
in this market. The Orphan Drugs Market industry assessment includes the key
market trends with respect to the current situation and anticipated
advancements.
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Market Overview:
Here, we examine the current state of the market, including
its size, growth trends, segmentation, industry structure, and competitive
landscape. Statistical data, graphs, and charts may be included to support our
findings.
In other words, we will provide a comprehensive overview of
the market, including its size, growth trends, segmentation, industry
structure, and competitive landscape. We will also include statistical data,
graphs, and charts to support our findings.
Major Key Players Are:
- Amgen
Inc. (Thousand Oaks, U.S.)
- Bayer
AG (Leverkusen, Germany)
- F.
Hoffmann-La Roche Ltd (Basel, Switzerland)
- Alexion
Pharmaceuticals Inc. (Boston, U.S.)
- Novo
Nordisk A/S (Bagsværd, Denmark)
- Novartis
AG (Basel, Switzerland)
- Bristol-Myers
Squibb Company (New York, U.S.)
- AstraZeneca
(Cambridge, U.K.)
- DAIICHI
SANKYO COMPANY, LIMITED (Tokyo, Japan)
- GlaxoSmithKline
plc (Brentford, U.K.)
Key Highlights:
- The
global orphan drugs market was valued at USD 156.97 billion in 2022.
- It
is projected to grow to USD 170.49 billion in 2023 and reach USD 368.43
billion by 2030, with a CAGR of 11.6% during the forecast period.
- Orphan
drugs are developed to treat rare diseases with no or unsatisfactory
treatments available.
- There
are 4,000 to 5,000 rare diseases globally, affecting 25-30 million people
in Europe.
- Orphan
drugs are used for diagnosis, prevention, and treatment of rare disorders,
with oncology being a significant segment.
- Immunomodulators
are in demand due to rising infectious diseases and high medication costs.
- COVID-19
impacted the market positively with increased regulatory approvals during
the pandemic.
- Strong
product launches are driving market growth, with blockbuster drugs
emerging.
- Increasing
R&D initiatives are boosting the development of orphan drugs.
- Growing
patient population with rare diseases is propelling market development.
- High
costs associated with orphan drugs limit their adoption.
- Market
segments include therapy areas, drug types, and distribution channels.
- North
America dominates the market, while Asia Pacific is expected to have the
highest growth.
- Key
players include Bristol-Myers Squibb and F. Hoffmann-La Roche.
- Notable
industry developments, including acquisitions and FDA approvals, are
shaping the market.
What are the key dynamic factors that are detailed in the
report?
Key Market Dynamics: The Orphan Drugs Market research
report covers the most recent market trends, expansion patterns, and research
techniques. The production strategies and methodologies, development platforms,
and the product model themselves are the factors that directly influence the
market's growth, and even a minor adjustment can cause further changes to the
report as a whole. The research study goes into great detail to explain each of
these factors.
Market Outlook: On a regional and international
level, the report discusses some of the key factors, such as R&D, new
product launches, M&A, agreements, partnerships, joint ventures,
collaborations, and growth of the key industry participants.
Major Features: The report analyzes costs, capacity,
production, revenue, consumption, import/export, supply/demand, gross, market
share, CAGR, and gross margin. It also studies key influencing factors and
market inclinations.
Analytical Tools: The Orphan Drugs Market report
contains information that has been thoroughly researched and evaluated about
the major players and the scope of their markets using a variety of analytical
tools, such as SWOT analysis, Porter's five forces analysis, investment return
analysis, and feasibility study. These tools have been used to efficiently
study the growth of major industry participants.
Potential Customers: The report provides in-depth
information to users, service providers, suppliers, manufacturers,
stockholders, and individuals who are interested in evaluating or self-studying
this market.
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