Global Orphan Drugs Market Research Report 2023: Market to Reach $415.2 Billion by the End of 2028 - Premium Pricing of Orphan Drugs and Increasing Collaborations/Licensing Agreements Bolsters Growth

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Jan 17, 2024, 14:15 ET

DUBLIN, Jan. 17, 2024 /PRNewswire/ -- The "Global Markets for Orphan Drugs" report has been added to ResearchAndMarkets.com's offering.

The global orphan drugs market was valued at an estimated $233.9 billion in 2023. This market is projected to reach $415.2 billion by the end of 2028, growing at a CAGR of 12.2% during the forecast period. Growth factors include the increased involvement of pharmaceutical companies in developing orphan drugs, the growing number of new approvals and the increased global availability of these drugs.

Orphan drugs have paved the way for the treatment of the many unmet clinical and therapeutic needs of patients with orphan and rare diseases such as Gaucher's disease, Pompe disease, cystic fibrosis, Hunter syndrome, tuberous sclerosis complex and chronic myelogenous leukemia. These developments have spurred pharmaceutical and biotech companies such as Roche, Novartis, GlaxoSmithKline, Johnson & Johnson, Bristol-Myers Squibb, Merck & Co., and Pfizer to invest in and develop orphan and rare disease therapies and drugs.

In contrast to developing drugs for prevalent disorders, creating medications for orphan diseases can be more difficult. Pharmaceutical companies face several fundamental challenges when developing orphan drugs such as a lack of standard comparator drugs, a lack of clear understanding of pathophysiology or natural history, a lack of scientific evidence, and a lack of validated preclinical models.

The small patient pool presents challenges that frequently lead to inadequate patient participation and impact the evaluation of clinical trial outcomes in patients with rare diseases. These patients frequently exhibit a great deal of variability in their clinical presentation and histories, with factors such as age, disease severity, and progression influencing reported outcomes.

The orphan drug market has emerged as a niche business of the pharmaceutical industry. This market's primary growth factors include incentives for orphan drug sponsors, tax breaks, market exclusivity, grants programs for clinical studies, funds for the development of orphan products, and multiple indication approvals. The sequencing of the human genetic code, which created a better understanding of human metabolism and the role of genetics in the manifestation of disease, also played a significant role in the development of the orphan drug market.

By region, North America dominates the global orphan drug market due to growth factors such as advanced healthcare infrastructure and the U.S. Food and Drug Administration (FDA)-sponsored grant programs for the development of potential therapeutic compounds through its Office of Orphan Products Development (OOPD). The European market, with its well-established orphan drug legal framework, is also expanding. Growth factors include multiple post-market safety and efficacy clinical trials and the commission of potential orphan drugs through patient networks such as the European Organization for Rare Diseases (EURORDIS).

The Asia-Pacific pharmaceutical market offers potential as countries such as Japan, Taiwan, and South Korea have implemented legal legislations akin to the U.S. Orphan Drug Act. The main growth factors in this emerging regional market are patient awareness programs, global connectivity through rare disease patient organizations and the availability of orphan drugs through joint collaborations.

Report Includes

33 data tables and 46 additional tables
Overview and an up-to-date analysis of the global markets for orphan drugs (ODs) for rare diseases treatment
Analyses of the global market trends, with historical market revenue data (sales figures) from 2021 to 2022, estimates for 2023, forecasts for 2024, and projections of compound annual growth rates (CAGRs) through 2028
Highlights of the current and future market potential of orphan drugs, along with a detailed analysis of the market drivers, restraints, and opportunities
Estimate of the actual market size and revenue forecast for the global orphan drugs market, and its corresponding market share analysis based on the product type, therapeutic area, and region
Analysis of market growth opportunities with a holistic review of Porter's five forces model and PESTLE analyses considering the micro
and macroeconomic factors prevailing in the marketplace
Discussion of sustainability trends and factors in the orphan drugs market, with emphasis on consumer attitudes, ESG score analysis, future of ESG, case study, and the ESG practices followed
Analyses of the novel therapeutic applications of orphan drugs in rare and orphan diseases as well as examination of the regulatory framework, patents, and recent innovations in the industry
Review of the current status and trends in clinical trials for the development of drugs in rare diseases among the three registries from the U.S., EU and Japan
Discussion of successful orphan medicinal products, rising influence of pharmacogenomics in the ODs market, information on specific rare diseases for which orphan drugs exist
Assessment of the most promising therapeutic areas in the industry and leading orphan drugs in these areas
Overview of the industry structure for orphan drugs, pricing and reimbursement policies, COVID-19 impact, and market share analysis of the leading manufacturers of orphan drugs along with their SWOT analyses
Company profiles of major players within the industry, including AstraZeneca Plc, Eisai Co. Ltd., Bristol Myers Squibb and Pfizer Inc.

Company Profiles

Abbvie Inc.
Astellas Pharma Inc.
Astrazeneca Plc
Bristol Myers Squibb
Eisai Co. Ltd.
Eli Lilly And Co.
F. Hoffmann-La Roche Ltd.
Merck & Co. Inc.
Novartis Ag
Pfizer Inc.
Sanofi S.A.
Takeda Pharmaceutical Co. Ltd.

Key Topics Covered:

Chapter 1 Introduction

Study Goals and Objectives
Reasons for Doing This Study
Scope of Report
What's New in this Update?
Methodology
Information Sources
Geographic Breakdown
Segmentation Breakdown

Chapter 2 Summary and Highlights

Market Outlook
Market Summary

Chapter 3 Market Overview

Market and Technology Background
Global Definitions of Rare Diseases by Country/Region
U.S.
EU
Taiwan
Japan
Australia
Singapore
South Korea
Switzerland
Brazil

Chapter 4 Market Dynamics

Overview
Drivers
Favorable Orphan Drug Act and Similar Legislation
Technological Advances in Genomics
Lack of Competition from Generic Drugs
Patent Extensions
Premium Pricing of Orphan Drugs
Innovations in Manufacturing Technologies
Increasing Collaborations and Licensing Agreements
Restraints
Lack of Trained Professionals
Vulnerable Target Groups
Regulatory Challenges
Opportunities
Huge Product Pipeline of New Orphan Drugs
Regulatory Landscape
U.S.
Europe
Japan
Taiwan
South Korea

Chapter 5 Global Market for Orphan Drugs by Product Type

Biological Orphan Drugs
Non-biological Orphan Drugs

Chapter 6 Global Market for Orphan Drugs by Therapeutic Application

Oncology
Blood Disorders
Central Nervous System
Respiratory System
Immunomodulators
Cardiovascular Therapies
Endocrine System
Musculoskeletal System
Others

Chapter 7 Global Market for Orphan Drugs by Region

Global Market Share Analysis
North America
Europe
Asia-Pacific
Rest of the World (RoW)

Chapter 8 ESG Outlook in the Orphan Drugs Market

Introduction to ESG
Importance of ESG in the Orphan Drug Industry
ESG Pillars in the Orphan Drugs Industry
ESG Ratings and Metrics: Understanding the Data
ESG practices in the Orphan Drug Industry
Concluding Remarks

Chapter 9 Orphan Drugs Exclusivity and Pricing Policies

Reimbursed Price of ODs: Current Strategies and Potential Improvements
Comprehensive Value Assessment
Early Dialogues
Innovative Reimbursement Approaches
Societal Participation in Producing ODs

Chapter 10 Clinical Trials on Drugs for Rare Diseases

List of Clinical Trials on Drugs for Rare Diseases

Chapter 11 Competitive Landscape

Top 10 Selling Orphan Drugs Globally
Market Share Analysis

For more information about this report visit https://www.researchandmarkets.com/r/b9mb4o

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