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Orphan Drugs Market

Market Insights on Orphan Drugs covering sales outlook, demand forecast & up-to-date key trends

Orphan Drugs Market: Global Industry Analysis and Opportunity Assessment 2022 - 2032

Orphan Drugs Market Overview

The global orphan drugs market has set a valuation of US$ 165.4 Bn in 2021, and further, is expected to expand at a CAGR of 4.6% to reach US$ 267.6 Bn by the year 2032.

“The rising prevalence of rare diseases, development of new technologies for an orphan drug and rise in the investment in research and development is expected to uplift the orphan drugs market growth.”

Orphan drugs are medicines and vaccines to diagnose, treat or prevent rare and life-threatening disorders or other medical conditions. The majority of uncommon diseases are inherited and persist throughout a person's lifetime, however, symptoms may not always be apparent.

The most uncommon disease symptoms can develop soon after birth or throughout childhood like cystic fibrosis, lysosomal storage disorder, familial adenomatous polyposis (FAP), infantile spinal muscular atrophy and patent ductus arteriosus (PDA).

However, some symptoms of rare diseases, such as acute myeloid leukaemia, renal cell carcinoma and glioma only manifest in adults. Orphan drugs are used as effective medicine to cure such rare diseases.

Attributes

Details

Orphan Drugs Market Value in 2021

US$ 165.4 Bn

Orphan Drugs Market Value in 2032

US$ 267.6 Bn

Orphan Drugs Market CAGR (2022-2032)

4.6%

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What Are The Major Drivers Boosting The Demand For Orphan Drugs Market?

The market for orphan drugs is driven by the development of research and development on rare diseases being done in collaboration with regulatory organizations and research institutes. A strong market expansion is being driven by rising demand for novel drug products and advanced technological treatments for various rare diseases.

Furthermore, the rise in the prevalence of cardiovascular diseases, hypertension, and diabetes is anticipated to accelerate the market expansion of orphan drugs. The sales of orphan drugs can improve by factors like favourable government and reimbursement policies and expansion of product pipeline by launching new drugs.

Which Region Shows Strong Growth Potential In The Orphan Drugs Market?

Among the major regions, North America is expected to hold the largest market share owing to the adoption of novel products, the high prevalence of rare disorders and the technology to treat rare diseases.

Europe is the second largest market for orphan drugs. The widespread acceptance of advanced rare disease therapies and the large patient population are positively impacting the market for orphan drugs.

Apart from this, East Asia and South Asia together are contributing a moderate market growth. This growth is attributed due to research and development as well as the rapidly evolving healthcare infrastructure.

Sabyasachi Ghosh
Principal Consultant
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Who Are The Key Players In The Orphan Drugs Market?

Some of the market players operating in the orphan drugs market are AbbVie Inc., Pfizer Inc., Merck & Co. Inc., Amgen Inc., Biogen Inc., Bristol-Myers Squibb Company, Sanofi S.A., F. Hoffmann-La Roche AG, Teva Pharmaceutical Industries Ltd., Novartis AG, and Takeda Pharmaceutical Company Limited.

Scope Of Report

Report Attributes

Details

Growth Rate

CAGR of 4.1% 2022-2032

Base Year for Estimation

2021

Historical Data

2012-2021

Forecast Period

2022-2032

Qualitative Units

Revenue in USD Billion, and CAGR from 2022-2032

Report Coverage

Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis

Segment Covered

  • Therapy Area
  • Drug Type
  • Distribution Channel
  • Region

Region Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa

Key Countries Profiled

  • U.S
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K
  • France
  • Spain
  • Italy
  • China
  • Japan
  • South Korea
  • Malaysia
  • Singapore
  • Australia
  • New Zealand
  • GCC
  • South Africa
  • Israel

Key Players

  • AbbVie Inc.
  • Pfizer Inc.
  • Merck & Co. Inc.
  • Amgen Inc.
  • Biogen Inc.
  • Bristol-Myers Squibb Company
  • Sanofi S.A.
  • F. Hoffmann-La Roche AG
  • Teva Pharmaceutical Industries Ltd.
  • Novartis AG
  • Takeda Pharmaceutical Company Limited.

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Key Segments Covered In The Orphan Drugs Industry Survey

By Therapy Area:

  • Oncology
  • Haematology
  • Neurology
  • Endocrinology
  • Cardiovascular
  • Others

By Drug Type:

  • Biologics
  • Non Biologics

By Distribution Channel:

  • Hospital Pharmacies
  • Retail Pharmacies
  • Online Stores
  • Others

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • The Middle East and Africa (MEA)

Frequently Asked Questions

The global orphan drugs market is anticipated to register a CAGR of 4.6% during the forecast period.

The orphan drugs market is projected to be about US$ 267.6 Bn by the end of year 2032.

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Sabyasachi Ghosh
Principal Consultant
LinkedIn
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