Orphan drugs market size was valued at $140.00 billion in 2020 and is projected to reach $435.68 billion by 2030 registering a CAGR of 11.8% from 2021 to 2030. Orphan drugs are specialized pharmaceutical agents administered for the treatment of rare (orphan) diseases. These diseases have a very low prevalence rate; thus, pharmaceutical companies do not readily invest in these drugs as the returns on investment in orphan drugs are risky as compared to non-orphan drugs. Moreover, multiple clinical trials for drug testing cannot be voluntarily performed due to the small patient population. However, orphan drugs have shown tremendous potential in diagnosis and treatment of cancer; this trend is expected to continue throughout the forecast period.
๐๐ข๐ฌ๐ญ ๐จ๐ ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ :
ABBVIE INC., AMGEN INC., AMRYT PHARMA PLC., BRISTOL-MYERS SQUIBB COMPANY, F. HOFFMANN-LA ROCHE LTD., GLAXOSMITHKLINE PLC (GSK), JOHNSON & JOHNSON (JANSSEN GLOBAL SERVICES, LLC), NOVARTIS INTERNATIONAL AG (SANDOZ), PFIZER
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๐๐ผ๐๐ถ๐ฑ-๐ญ๐ต ๐ฆ๐ฐ๐ฒ๐ป๐ฎ๐ฟ๐ถ๐ผ:
COVID-19 is a large family of viruses that causes illness ranging from common cold to more severe respiratory diseases. The global orphan drugs market also declined in 2020 due to factors such as a decline in screening services, reduced access to specialists, treatment interruption, limited operations in most industries, inadequate funding to research & academic institutes, temporary closure of major academic institutes, and disrupted supply chain and challenges. However, the market is anticipated to witness recovery in 2021, and show stable growth for orphan drugs market in the coming future.
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The global orphan drugs market is segmented on the basis of disease type, and region. By disease type, it is categorized into oncological diseases, metabolic diseases, hematologic & immunologic diseases, infectious diseases, neurological diseases, and other rare diseases that include transplantation diseases, gastrointestinal diseases, dermatologic diseases, perinatal & congenital abnormalities, and others.
Oncological diseases segment is again divided into acute myeloid leukemia (AML), pancreatic cancer, ovarian cancer, multiple myeloma, renal cell carcinoma, and others. In addition, metabolic diseases segment is further classified into hunter syndrome, Fabry disease, Gaucher disease, hypoparathyroidism, and others. Furthermore, hematologic & immunologic diseases segment is segmented into hereditary angioedema (HAE), hemophilia, and others. Moreover, neurological diseases segment is further segmented into Duchenne muscular dystrophy (DMD), Alzheimer’s disease, Huntington’s disease, and others. The oncological diseases segment was the major shareholder in 2020, owing to increase in prevalence of oncological diseases, rise in cancer awareness among population, early screening of cancer and availability of oncological orphan drugs for treatment of cancer.
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๐จ๐ซ ๐๐ฎ๐ซ๐๐ก๐๐ฌ๐ ๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ https://www.alliedmarketresearch.com/purchase-enquiry/204
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- Based on disease type, the oncological diseases segment held the largest share in the global orphan drugs market in 2020.
- Based on region, North America is expected to experience growth at the highest rate, registering a CAGR of 11.0% during the orphan drugs market forecast period.
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