Category

Orphan Drug Market Size, Share, Opportunities, COVID 19 Impact, And Trends By Disease Type (Oncologic Disease, Metabolic Disease, Hematologic And Immunologic Disease, Infectious Disease, Neurologic Disease, Others), By Product Type (Biological Products, Non-biological Products), And By Geography - Forecasts From 2019 To 2024

Published: May 2021 | Report Code:  KSI061611333 | Pages:  130

The orphan drug market is projected to grow at a CAGR of 10.94% to reach US$285.799 billion in 2023 from US$153.275 billion in 2017. During the forecast period, prescription sales in the orphan drug sector are projected to grow at twice the rate of the overall prescription market. However, various government authorities encourage to develop and market orphan drugs. The cost incurred during the research and development of orphan drugs is higher when compared with non-orphan drugs. The orphan drug market is classified into various segments by disease types, indication, and geographical regions. In the orphan drugs disease type segment, oncologic diseases occupied a significant share of the market and the segment is predicted to maintain the attained growth trend during the forecast period. This is due to the growing prevalence of different forms of rare cancers, such as leukemia, myeloma, angiosarcoma, and others prevalent in the patient population.

By Disease Type

The global orphan drug market is segmented into various types of diseases orphan drug manufacturing companies’ target, namely oncologic diseases, metabolic diseases, hematologic and immunologic diseases, infectious diseases, neurologic diseases, and other RARE Diseases. The Oncologic segment of the orphan drug market was the most dominant sector due to a large number of rare cancer form cases found in patients. Oncology segment is expected to maintain the trend and will be the key segment during the period of the next five years.

By Product Type

The global orphan drug market is segmented into two segments on basis of the origin of their components, biological or non-biological. The global orphan drug market is offering products that are driven by biological or non-biological sources. Biological products are costlier as extraction and purification take large investments and also sometimes source may be rare which adds on to the cost.

By Geography

The global orphan drug market is expanding globally to cure rare diseases and thus expected to grow in all regions. North America is estimated to have a significant market share due to the high number of research and development going on in the region coupled with high medical cost and skilled labor force available in the region.

Competitive Insights

The orphan drug market is competitive owing to the presence of well-diversified global players. Various pioneer companies in the orphan drug market are Bayer, Amryt Pharma Plc., Bristol-Myers Squibb Company, Novartis AG, Celgene Corporation, F. Hoffmann-La Roche AG, and Pfizer Inc. among others.

Segmentation

The orphan drug market has been analyzed through the following segments:

By Disease Type

Oncologic Disease

Metabolic Disease

Hematologic and Immunologic Disease

Infectious Disease

Neurologic Disease

Others

 

By Product Type

Biological Products

Non-biological Products

 

By Geography

North America

USA

Canada

Others

 

South America

Brazil

Others

 

Europe

Germany

France

United Kingdom

Others

 

Middle East and Africa

Saudi Arabia

Israel

Others

 

Asia Pacific

China

Japan

South Korea

India

 

Others


Frequently Asked Questions (FAQs)

Q1. What are the growth prospects for the orphan drug market?
A1. The orphan drug market is projected to grow at a CAGR of 10.94% over the forecast period.
 
Q2. What will be the orphan drug market size by 2023?
A2. The orphan drug market is projected to reach a market size of US$285.799 billion by 2023.
 
Q3. What is the size of global orphan drug market?
A3. Orphan Drug market was valued at US$153.275 billion in 2017. 
 
Q4. How is the orphan drug market segmented?
A4. The global orphan drug market has been segmented by disease type, product type, and geography.
 
Q5. Which region holds the largest market share in the orphan drug market?
A5. North America is estimated to have a significant share in the orphan drug market due to the high number of research and development going on in the region coupled with the high medical costs and skilled labor force available in the region.

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