Allied Market Research's report provided an estimation of the global orphan drugs market size estimated at $1,40,000.0 million in 2020 and is predicted to gain $4,35,686.3 million by 2030, exhibiting a CAGR of 11.8% during the forecast timeframe. The report offers a comprehensive outline of the leading investment pockets, the most successful strategies, the market dynamics, the market size and projections, the competitive analysis, and the forecast timeframe. This market report is an invaluable ... moreAllied Market Research's report provided an estimation of the global orphan drugs market size estimated at $1,40,000.0 million in 2020 and is predicted to gain $4,35,686.3 million by 2030, exhibiting a CAGR of 11.8% during the forecast timeframe. The report offers a comprehensive outline of the leading investment pockets, the most successful strategies, the market dynamics, the market size and projections, the competitive analysis, and the forecast timeframe. This market report is an invaluable resource for the leading players, new market entrants, and stakeholders in strategic planning and strengthening their competitive edge.
Recent Developments in the Orphan Drugs Market
High prices of orphan drugs are one of the major trends in the Orphan Drugs Market and are expected to increase further due to factors such as ageing population and increased R&D expenses. Around 40% of the Orphan Drugs cost more than $100,000 annually. However, growing awareness and the potential benefits regarding to orphan drugs coupled with the recent orphan drug approvals also acts as key trend and driver in the orphan drugs industry. Further, as per the recent trend in sales of orphan drugs from companies such as Johnson & Johnson’s multiple myeloma drug Darzalex and AstraZeneca’s Lynparza & Calquence, oncology will occupy most market share currently and in the coming years. These drugs together have generated an estimated revenue of around USD 25 Billion in 2022.
The report provides an in-depth assessment of the global orphan drugs market segmented on the basis of disease type, and region. It is presented in both tabular and graphical form, allowing investors and industry-leading players to gain insight into the most lucrative and rapidly expanding segments.
By disease type, the oncologic diseases segment held the major share in 2020, contributing to more than one-third of the global orphan drugs market. However, the metabolic diseases segment would showcase the fastest CAGR of 13.8% throughout the forecast timeframe.
The global orphan drugs market is divided into several geographical regions, including North America, Europe, Asia-Pacific (APAC), and LAMEA. The North America region accounted for the largest share in 2020, holding more than one-third of the global orphan drugs market. On the other hand, the Asia-Pacific region is projected to witness the fastest CAGR of 12.6% throughout the forecast timeframe.
The global orphan drugs market report has recognized several prominent players in the industry, including the following: Sanofi S.A., F. Hoffmann-La Roche Ltd., Novartis International AG, Amgen Inc., Bristol Myers Squibb, AbbVie Inc., Johnson & Johnson, GlaxoSmithKline plc., Pfizer Inc., and Amryt Pharma PLC. The industry players have also adopted various strategies, inclusive of collaborations, technological developments, expansions, and joint alliances to strengthen their position in the industry. This report provides an overview of the performance and growth of the leading players in the market.
