Global Orphan Drugs Market - Overview
The global orphan drugs market Trends is expected to exhibit a robust 11.6% CAGR over the forecast period, according to the latest research report from Market Research Future (MRFR). The global orphan drugs market is mainly driven by the growing research into rare diseases and the growing government support to research and development into making orphan drugs. The global orphan drugs market is profiled in great detail in the research report, providing readers with a comprehensive overview of the market through its historical growth trajectory, present conditions, and future growth prospects. The historical stats of the orphan drugs market are detailed in the report, in order to provide readers with a complete overview of the market’s historical growth trajectory. The historical stats provided in the report also give analysts a solid platform to base future projections about the market. Based on this platform, future projections for the orphan drugs market’s growth trajectory over the forecast period are provided in the report. The leading players in the global orphan drugs market are also profiled in the report in order to give readers a comprehensive analysis of the leading players in the global orphan drugs market. The major drivers and restraints affecting the global orphan drugs market are also profiled in the report to provide readers a comprehensive overview of what’s making the market tick and what is holding the market back.
Orphan drugs are drugs made to counter rare diseases. The name orphan drugs comes from the fact that many drug makers have no interest in producing these drugs, due to the rarity of the diseases they treat. However, increasing government incentives to produce orphan drugs and the growing prevalence of rare diseases are likely to be major drivers for the global orphan drugs market. Increasing awareness about rare diseases is likely to be a major driver for the global orphan drugs market over the forecast period. On the other hand, high treatment costs and the regulatory restrictions on profitability from orphan drugs are likely to be the major restraints against the market.
The global orphan drugs market is segmented on the basis of drug type, sale, drug, therapy class, and region.
By drug type, the global orphan drugs market is segmented into biologics and non-biologics. The biologics segment holds the largest share in the global orphan drugs market. The segment accounted for USD 75,103.32 million in 2017.
By sale, the global orphan drugs market is segmented into generic and prescribed.
By drug, the global orphan drugs market is segmented into Revlimid, Rituxan, Opdivo, Keytruda, Imbruvica, Soliris, Jakaf, Pomalyst, Darzalex, Spinraza, and Adcetris.
By therapy class, the global orphan drugs market is segmented into oncology, hematology, central nervous system, endocrine, cardiovascular, and respiratory.
Global Orphan Drugs Market - Regional Analysis:
Depending on geographic region, Globally North America is the largest market for orphan drugs. Factors such as high product demand and the increasing government incentives are expected to promote market growth in the US region, which is considered to be the highest revenue-generating region in the Americas.
Europe is the second-largest market for Global orphan drugs. The future market for orphan drugs is anticipated to be dominated by the developed regions with developing regions act as a supporting pillar to its growth.
Asia Pacific will be the fastest growing regional market and is likely to be the key to the future. Middle East & Africa is expected to have limited but steady growth in the market.
Global Orphan Drugs Market - Company Analysis:
Other prominent players in the value chain include AstraZeneca plc, AbbVie Inc., Aegerion Pharmaceuticals, Inc., GlaxoSmithKline plc, Vertex Pharmaceuticals, Merck & Co., Inc., Boehringer Ingelheim GmbH, Amgen Inc., and Actelion Pharmaceuticals Ltd.
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