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Orphan Drugs Market (Disease Type - Oncology, Gastrointestinal, Pulmonary, Hematology, Neurology, Infectious Diseases, Others; Product Types - Biologic, Non-biologic; Distribution Channel - Hospital Pharmacies, Specialty Pharmacies and Retail Pharmacies; Region - North America, Europe, Asia-Pacific, and RoW): Global Industry Analysis, Trends, Size, Share and Forecasts to 2024

  • Published : August, 2018

  • Rep Id : HC0374

  • Category : Healthcare & Medical Devices

  • Status : Published

This report provides exclusive insights into the COVID-19 impact on the Orphan Drugs Market. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Orphan Drugs Market. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Orphan Drugs Market. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.

A recent report published by Infinium Global Research on orphan drugs market provides in-depth analysis of segments and sub-segments in global as well as regional orphan drugs market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional orphan drugs market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global orphan drugs market. According to the report the global orphan drugs market is projected to grow at a CAGR of 6.5% over the forecast period of 2018-2024.

 

Market Insight

Orphan drugs are medicinal products intended for diagnosis, prevention or treatment of life-threatening or very serious diseases or disorders that are rare. A disease or disorder is defined as rare in Europe when it affects less than 1 in 2,000 citizens. These drugs are called orphan as pharmaceutical companies have a small interest in developing and marketing these drugs as these are intended for only a small number of patients. For drug companies, the extremely high cost of bringing a medicinal product to market would not be recovered by the anticipated sales of such medicines. As a result, the potential market for new drug treatment is also small and the drug companies industry would actually incur a financial loss.

 

These drugs are used to treat the population suffering from the very serious, but rare diseases for which no treatment available. There are around 25 to 30 million people are affected by these diseases in Europe. The awareness about the orphan drug is growing rapidly across the world that further leads to the growing adoption of orphan drug act in Japan, Australia, Europe and other countries to stimulate research and development in the orphan drug.

 

The orphan drugs market segmented as diseases indication, product type, and distribution channels. The segment dieses type is further divided into sub-segment including oncology, gastrointestinal, pulmonary, neurology, hematology, cardiovascular, metabolic disorders, endocrinology, infectious diseases, and others. The product type segment included biological and non-bio logical products and distributed over the channels like hospital pharmacy, retail pharmacy, and others.

 

Economic incentives to encourage drug companies to develop and market medicines for rare disease treatment is the key driving factor in the orphan drugs market. The rising occurrence of rare cancer cases, availability of orphan drugs at the hospital pharmacy and increasing hospitalization treatment for rare diseases are expected to enhance the growth of orphan drugs market over the forecast period. On the other hand, the cost associated with production and R&D is more as compared with other drugs that may be hampering the market growth. Moreover, the rising awareness of the rare disease among the population and increasing investments in R&D is projected to create several opportunities in upcoming years.

 

North America dominates the market of orphan drugs owing to its highly developed healthcare infrastructure and favorable government regulations. In the North, America U.S. holds the largest market share in this market due to economic incentives and raising awareness about the orphan drug. Moreover, the increasing investments to treat and diagnose the rare disease also to facilitate the growth in the orphan drugs market.

 

Segment Covered

The report on global orphan drugs market covers segments such as disease type, product types and distribution channel. On the basis of disease type the global orphan drugs market is categorized into oncology, gastrointestinal, pulmonary, hematology, neurology, infectious diseases, and others. On the basis of product types the global orphan drugs market is categorized into biologic and non-biologic. On the basis of distribution channel the global orphan drugs market is categorized into hospital pharmacies, specialty pharmacies, and retail pharmacies.

 

Geographic Coverage

The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. 


Global Orphan Drugs Market


The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-Pacific region offers substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience a growth at a CAGR of x.x% over the period of 2018-2024.

 

Companies Profiled:

The report provides profiles of the companies in the global orphan drugs market such as Novartis AG, Pfizer Inc., Alexion Pharmaceuticals, Eisai Co. Ltd., Bayer AG, Biogen Inc, Eli Lilly and Company, AstraZeneca plc., GlaxoSmithKline and Johnson & Johnson.

 

Report Highlights:

The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global orphan drugs market. Moreover, IGR-Growth Matrix analysis given in the report brings insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of orphan drugs market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the orphan drugs market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the orphan drugs market to understand the present and future trends in this market and formulate their strategies accordingly.


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