Orphan Drugs Market
Industry
- Automobile and Transportation
- Chemicals and Materials
- Consumer Goods
- Energy and Power
- Electronics and Semiconductor
- Food and Beverages
- Machinery and Equipment
- Pharma and Healthcare
- Service and Software
- Others
- Packaging
- ICT
- Technology
- Medical Devices and Consumables
- Agriculture
- Medical Care
- Aerospace and Defense
Orphan Drugs Market Size, Share & Analysis By Drug Type (Biologicals, Non-biologicals), By Therapy (Oncology, Hematology, Neurology, Endocrinology, Cardiovascular, Respiratory, Immunotherapy), By Distribution Channels (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Others), By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa), and Growth Forecast To 2032
Report ID: RV120228 | Published: Mar 2024 | Historical Period: 2018-2022 | Pages: 178 | Price: $3260| Industry: Pharma and Healthcare
Orphan Drugs Market Overview 2024:
The orphan drugs market is expected to register a rapid revenue CAGR of 11% during the forecast period. Factors such as rising incidence of orphan diseases, high unmet medical needs, and growing public awareness are expected to boost global market growth between 2024 and 2032.
Orphan diseases or rare diseases are medical conditions that affect a relatively limited patient pool. Though each rare disease may only affect a small bunch of people, collectively, it affects millions of people worldwide.
Orphan drugs are medications that are specifically designed to diagnose, prevent, or treat rare diseases. These drugs are characterized by a high degree of innovation and specialization, targeting diseases that have few treatment options available.
However, as orphan diseases affect a small number of patients, it is challenging for pharmaceutical and biotechnology companies to recover from the high costs of drug development and clinical trials. Limited patient populations also pose challenges for conducting robust clinical trials and obtaining sufficient data for regulatory approval.
Graphical Overview:
Key Takeaways:
Rapid Advancements in Biotechnology and Genomics
Rapid advancements in genomics, RNA interference, and personalized medicine have facilitated the identification and development of orphan drugs. This is a key factor expected to drive global market growth during the forecast period. Moreover, rising investments in R&D activities and increasing collaborations among companies and institutions to develop advanced drugs are other factors expected to boost orphan market growth over the forecast period.
High Development Costs and Regulatory Hurdles:
Developing orphan drugs can be costly as it needs specialized expertise and the availability of patients for clinical trials is limited. This can be a limiting factor hampering overall market growth during the forecast period. Other factors such as low awareness about organ drugs and limited infrastructure in many developing economies, and regulatory hurdles can also restrain market growth going ahead.
Market Opportunities:
Market players in the orphan drugs market have several opportunities to capitalize on. Pharma companies can invest in R&D activities to develop innovative treatments and establish a competitive advantage in niche markets. They can collaborate with academic institutes, research organizations, and patient advocacy groups to provide access to valuable resources, and patient networks, accelerate drug development, and enhance market access.
Therapy Outlook:
Based on therapy, the global market is segmented into oncology, hematology, neurology, endocrinology, cardiovascular, respiratory, and immunotherapy. Among these, the oncology segment is expected to account for a significantly larger revenue share during the forecast period. This growth can be significantly driven by factors such as emergence of rare types of cancer, rapid advancements in oncology, rising need for developing powerful drugs, and increasing investments in developing targeted therapies and enhancing patient advocacy.
Distribution Channel Outlook:
The global market is segmented into hospital pharmacies, retail pharmacies, online pharmacies, and others on the basis of distribution channels. The hospital segment is expected to register a rapid revenue CAGR over the forecast period owing to increasing incidence of rare diseases and hospital admissions, limited distribution channels, and rising availability of orphan drugs in hospital pharmacies due to complex administration and regulatory requirements.
Regional Outlook:
Among the regions, North America is expected to account for the largest revenue share in the global market between 2024 and 2032 owing to presence of regulatory authorities, availability of better regulatory incentives, high unmet medical needs, and growing awareness about early diagnosis and treatment. Other factors such as rapid advancements in biotechnology, genomics, and personalized medicine, presence of leading companies, and rising investments in R&D activities to cater to rising medical needs are expected to drive North America market growth during the forecast period.
Report Coverage:
| Report Details | Outcome |
| Base Year for Estimation | 2023 |
| Historical Data | 2018-2022 |
| Forecast Period | 2024-2032 |
| Segments Covered: | Drug Type, Therapy, Distribution Channel, and Region |
| By Drug Type | Biologicals, Non-biologicals |
| By Therapy | Oncology, Hematology, Neurology, Endocrinology, Cardiovascular, Respiratory, Immunotherapy |
| By Distribution Channel | Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, Others |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Country Scope | United States, Canada, Germany, France, UK, Italy, Russia, China, Japan, South Korea, Southeast Asia, India, Mexico, Brazil, Saudi Arabia, UAE, Turkey |
| Qualitative Info | •Value Chain Analysis •Pricing Analysis •Regional Outlook •Market Trends •Market Share Analysis •Competition Analysis •Technological Advancements |
| Key Players | Sanofi S.A, Bristol-Myers Squibb Company, Pfizer Inc., GlaxoSmithKline Plc (GSK), F. Hoffmann-La Roche Ltd., Johnson & Johnson, Novartis International Ag (Sandoz), AbbVie Inc., Amgen Inc., Amryt Pharma Plc. |
| Customization Scope | 10 Hours of Free Customization and Expert Consultation |
Competitive Landscape:
The global orphan drugs market is extremely competitive, comprising several regional and global level key players. Leading key players are focused on adopting various strategic alliances like mergers and acquisitions, partnerships, joint ventures, collaborations, and product launches to maintain their global position and enhance their product offerings. They are also focused on innovation, and scalability, and are adapting to evolving technology trends and consumer needs.
Some Leading Market Companies Listed in the Report:
- Sanofi S.A
- Bristol-Myers Squibb Company
- Pfizer Inc.
- GlaxoSmithKline Plc (GSK)
- Hoffmann-La Roche Ltd.
- Johnson & Johnson
- Novartis International Ag
- AbbVie Inc.
- Amgen Inc.
- Amryt Pharma Plc.
Orphan Drugs Industry Recent Developments:
- In February 2023, Sanofi announced that it received US FDA approval for ALTUVIIIO, a new class of factor VIII therapy designed for hemophilia A.
- In February 2023, GSK announced that the USFDA has approved ODD (Orphan Drug Designation) to belimumab for treating systemic sclerosis.
The global orphan drugs market has been segmented based on drug type, therapy, distribution channel, and region:
By Drug Type:
- Biologicals
- Non-biologicals
By Therapy:
- Oncology
- Hematology
- Neurology
- Endocrinology
- Cardiovascular
- Respiratory
- Immunotherapy
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- Others
By Region:
- North America
- United States
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Russia
- Nordic Countries
- Asia Pacific
- China
- Japan
- South Korea
- Southeast Asia
- India
- Australia
- Rest of Asia
- Latin America
- Mexico
- Brazil
- Rest of Latin America
- Middle East & Africa
- Turkey
- Saudi Arabia
- UAE
- Rest of MEA
Frequently Asked Questions!
- Sanofi S.A
- Bristol-Myers Squibb Company
- Pfizer Inc.
- GlaxoSmithKline Plc (GSK)
- Hoffmann-La Roche Ltd.
- Johnson & Johnson
- Novartis International Ag
- AbbVie Inc.
- Amgen Inc.
- Amryt Pharma Plc.
To Learn More About This Report
Our Clients
