Global Orphan Diseases Market Overview:
Rare diseases are a group of diseases that affect a small number of people. In general, disease affects less than 1-5 people per 10,000 general population is considered as rare disease. The increased focus of researchers and the FDA on therapies for rare diseases has led to a dramatic increase in the number of new therapeutic options for rare disease patients. Main driving factor for the rare disease market is rising rare diseases and its incidence cases and thereby the demand for orphan drugs are continue to rise. Growing occurrence of several types of rare cancers, blood related disorders, rare diseases related to central nervous systems are considered as prominent carter of the demand surge. Therefore, rare disease drugs are anticipated to receive huge demand and growth during the forecasted years.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Advances in Genomics As Well As the More Mainstream Use of Gene Sequencing
Market Growth Drivers:
Rising Prevalence of Rare Diseases Across the Globe and Increased Spending on Research and Development Activities by Major Players
Challenges:
Limited Healthcare Infrastructure and Resources Can Impact the Delivery and Management of Orphan Disease Treatments
Restraints:
Premium Pricing for Orphan Drugs is Likely to Hamper the Growth
Opportunities:
Adoption of New Life-Changing Therapies for Rare Disease Treatment and Regulatory Grants & Initiatives Concentrating on Unmet Needs
Competitive Landscape:
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are Bristo Myers Squibb (United States), Amgen Inc. (United States), AstraZeneca (United Kingdom), F. Hoffmann-La Roche Ltd (Switzerland), Novartis AG (Switzerland), Pfizer Inc. (United States), Sanofi (France), Merck KGaA (Germany), Eli Lilly and Company (United States), Johnson & Johnson (United States), AbbVie Inc. (United States) and Gilead Sciences, Inc. (United States). Analyst at AMA Research see United States Players to retain maximum share of Global Orphan Diseases market by 2030. Considering Market by Disease Type, the sub-segment i.e. Oncology will boost the Orphan Diseases market. Considering Market by Age Group, the sub-segment i.e. Children will boost the Orphan Diseases market. Considering Market by Treatment Type, the sub-segment i.e. Medication (Powder, Tablets/Capsules, Injectable) will boost the Orphan Diseases market.
Latest Market Insights:
In July 2021, AstraZeneca acquired Alexion Pharmaceuticals, Inc. (Alexion). The closing of the acquisition marks the Company’s entry into medicines for rare diseases and the beginning of a new chapter for AstraZeneca. AstraZeneca now has an enhanced scientific presence in immunology and, through Alexion’s innovative complement-biology platform and robust pipeline, will continue to pioneer the discovery and development of medicines for patients with rare diseases.
What Can be Explored with the Orphan Diseases Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Orphan Diseases Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Orphan Diseases
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Orphan Diseases market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Orphan Diseases market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes New Entrants/Investors, Analysts and Strategic Business Planners, Drug Manufacturers, Biotech Companies, Government Regulatory Bodies, Research Organizations and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.