Global Orphan Drugs Market Trends And Strategies Of Major Players In The Orphan Drugs Market 2021-2030
18 Nov, 2021
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The orphan drugs market consists of sales of orphan drugs and related services that are used to treat rare diseases. An orphan drug is a pharmaceutical drug developed to treat patients suffering from rare diseases and would not make profit if developed commercially. Global Orphan Drugs Market Size And Drivers: The global orphan drugs market is expected to grow from $135.2 billion in 2020 to $141.91 billion in 2021 at a compound annual growth rate (CAGR) of 5%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The orphan drugs market is expected to reach $183.27 billion in 2025 at a CAGR of 7%. The rising prevalence of rare diseases is a key factor driving the growth of the orphan drugs market. Request For A Sample For The Global Orphan Drugs Market Report:
Trends In The Global Orphan Drugs Market Approval of biological orphan drugs for multiple indication act as a key trend driving the growth of the orphan drugs market. The biological drugs are used for treating rare diseases such as cancer with fewer side effects that have a high prevalence rate in the developed world. For instance, in 2018, in order to launch the company’s biological orphan drug development program Cardax, Inc. announced that it has been engaged with biological orphan drug expert Frederick D. Sancilio, Ph.D. For the development of commercial products, the companies are focused on obtaining biological orphan drugs to increase their revenue. Global Orphan Drugs Market Segments:
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The global orphan drug market is further segmented –
By Therapy Area: Oncology, Blood, Central Nervous System, Endocrine, Cardiovascular, Respiratory, Immunomodulatory
By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Online Sales
By Drug Type: Biological, Non-Biological
By Disease Type: Oncology, Hematology, Neurology, Cardiovascular, Others
By Geography: The global orphan drugs market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Orphan Drugs Global Market Report 2021 is one of a series of new reports from that provides orphan drugs market overviews, analyzes and forecasts market size and growth for the global orphan drugs market, orphan drugs market share, orphan drugs market players, orphan drugs market segments and geographies, orphan drugs market’s leading competitors’ revenues, profiles and market shares. The orphan drugs market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.