Orphan Drugs Market 2020 Business Analysis, and Regional Forecast to 2025 is latest research report on Global Orphan Drugs Market published by “Fortune Business Insights”. According to report the Global Orphan Drugs Market to grow at 11.4% CAGR and reach $294,037.8 Million value by 2025. Orphan Drugs Industry report anlayzes Market for Medical Wearable Devices by Therapy Area (Oncology, Blood, CNS, Endocrine, Cardiovascular, Respiratory, Immunomodulatory), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Sales) and Regional Forecast, 2018 – 2025.
Orphan Drugs Industry Key Players Analyzed in Report Are:
Amgen Inc, Bayer AG, F. Hoffmann-La Roche Ltd, Alexion Pharmaceuticals Inc, Novo Nordisk A/S, Novartis AG, Bristol-Myers Squibb Company, AstraZeneca plc, Daiichi Sankyo Company Limited, GlaxoSmithKline plc.
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Global Orphan Drugs Market Insights:
The global Orphan Drugs market size is predicted to grow $294,037.8 Million by 2025, exhibiting a CAGR of 11.4% during the forecast period. Higher prevalence of caner and Increasing pervasiveness of infectious diseases such as dengue and malaria contributing growth of the Orphan Drugs market according to a new Fortune Business Insights™ report, titled “Orphan Drugs Market Size, Share and Industry Analysis By Therapy Area (Oncology, Blood, CNS, Endocrine, Cardiovascular, Respiratory, Immunomodulatory), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Sales) and Regional Forecast, 2018 – 2025.
The orphan drug market is expected to witness higher demand for immunomodulatory, as they regularize or amplify the immune system. Rising prevalence of infectious diseases in developed as well as emerging nations and higher prices of medications are projected to fuel demand for immunomodulatory, enabling orphan drugs market growth during the forecast period.
The report comprehensively evaluates the factors that will be play an important role in the growth of the market. Orphan drugs are developed to treat extremely rare diseases such Tangier Disease, Liddle Syndrome, to name a few. They are called “orphan” because their market size is too small for the drugs to be developed on a commercial level. Since the number of people affected by rare diseases is very small, orphan drugs are developed at the request of a sponsor.
According to the European Organization for Rare Diseases, orphan drugs are produced for diagnosis, prevention, and treatment of rare disorders. The oncology therapy area holds higher global orphan drugs market share due to emergence of new cancer-related diseases. Additionally, FDA approvals to a series of cancer-related orphan drugs are expected to result into increased commercialization of orphan drugs, especially oncology therapy area, during the forecast period.
Orphan Drugs Market Segmentation:
The global Orphan Drugs industry is segmented on the basis of Therapy Area, Distribution Channel and Region.
Based on the Therapy Area, the Orphan Drugs market is segmented by Oncology, Blood, CNS, Endocrine, Cardiovascular, Respiratory, Immunomodulatory.
Based on the Distribution Channel, the Orphan Drugs market is segmented into Hospital Pharmacy, Retail Pharmacy, Online Sales.
On the basis of region market for Orphan Drugs segmented by North America, Europe, Asia-Pacifica, Africa and other regions.
Orphan Drugs Market Growth Factors:
Exponentially increasing incidence of cancer is boosting the major market players to develop oncology-related orphan drugs. Moreover, lucrative incentive policies by governments and approvals from FDA and EU regulations are paving way for the entry of new drugs into the global orphan drugs market. In healthcare space, drugs manufactured for smaller number of patients hold the higher cost as compared to drugs manufactured for larger number of patients, due to which oncology therapy area is projected to accelerate with a considerable pace during the forecast period.
Increasing pervasiveness of infectious diseases such as dengue and malaria will also grease the global orphan drugs market in the forecast period. Infectious diseases have the potential to compromise a patient’s immune system, thereby rendering her vulnerable to other diseases. As a result, the market is expected to see a surge in demand for immune-modulators that aid in regulating and keeping active the body’s immune system.
Report analyzes Global Market for Orphan Drugs by North America, South America, Asia-Pacific, Europe, Middle East and Africa.
North America generated a revenue of US$ 67,144.6 Mn in 2017, and is anticipated to emerge dominant in the global orphan drugs market during the forecast period. North America is expected to witness considerable growth on account of rising government spending on research and development of orphan drugs, extensively accelerated FDA approvals for newly developed drugs, and rising emphasis on implementation of orphan drugs act.
Moreover, incentivisation of orphan drug development as well as enforcement of new marketing authorizations for orphan drugs are anticipated to drive the orphan drug market in Europe. Orphan drug market growth in Asia Pacific region is likely to nurture at a considerable rate owing to higher prevalence of rare disorders followed by priority for execution of orphan drug legislations in Asian countries.
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