Orphan diseases Market information, by Type of
Diseases (autoimmune disorders, genetic disorders, blood disorders, cancer,
growth disorder, cardiovascular diseases, neurological disorders, respiratory
disorders, digestive disorders, eye disorders and Others), by Type of Treatment
(gene therapy, cell therapy, drug therapy and others), by End user (hospital and
clinics, research laboratory and others) - Forecast to 2022
Orphan
diseases are also referred to as rare diseases. Despite the
low market interest, treatment demand continues to grow for orphan diseases.
Orphan diseases represent a very small percentage of the global population.
However, prevalence rate has increased considerably in recent years. Most
orphan diseases are genetic and may remain in patient throughout their life.
While many orphan diseases are low-risk and do not threaten life, some may have
severe impact on the health. Approximately 7000 different rare diseases are listed,
however, no exact figure is available.
The market for orphan diseases is growing swiftly.
Rising level of awareness and increased funding is reflecting favourably on the
market. According to a study conducted by market research future, the global orphan
diseases market is projected to demonstrate a compound annual growth rate
(CAGR) of 24.9% during the forecast period (2015-2022). The market size is
expected to surpass USD 500 Bn by the year 2022 up from USD 121.6 Bn.
Demand for orphan drugs has grown substantially in
recent years. Many governments all around the world are financially
incentivising drugs through regulations. A data released by National
Organization for Rare Disorders (NORD), reveals that in 2018, nearly 30 Mn
Americans suffer from 7,000 rare diseases. More and more initiatives are taken
towards improving orphan disease care. This is notable for advanced countries
such as the U.S., Japan and EU countries. Over the past couple years, orphan
drug sales have doubled.
Factors such as increased prevalence and rising
healthcare expenditure are making the market more attractive. Commercial
interest in orphan diseases drugs have improved in recent years. Advanced are
likely to display a higher enthusiasm. When it comes of research and development
smaller firms and start-ups are more active, however some of the bigger players
are also positioning themselves to enter the segment. In the comings,
collaborations, partnerships and M&A activities are expected to increase in
the global orphan diseases market. Big pharmaceutical companies are expected to
focus on improving their market position during the forecast period.
Global
Orphan Diseases Market: Segmental Overview
MRFR’s report includes a detailed segmental analysis of the market based
on disease, treatment and end user.
On the basis of disease, the market has been segmented into genetic
disorders, cancer, cardiovascular diseases, respiratory disorders, autoimmune
disorders, neurological disorders, blood disorders, eye disorders, digestive disorders,
growth disorder and others. On the basis of treatment, the market has been
segmented into drug therapy, cell therapy, gene therapy and others. Based on
end user, the market has been segmented into research laboratory, hospital and
clinics and others.
Global
Orphan Diseases Market: Regional Segmentation
The regions covered in the market include Asia Pacific (APAC), North
America, Europe, Latin America, and the Middle East & Africa (MEA).
Globally, North America represents the largest market for orphan diseases.
Widespread awareness, strong government support and presence of robust
healthcare system supports the market growth in the region. North America
orphan diseases market is expected to post a sound growth during the forecast
period. Europe also holds significant market potentials and second largest
contributor to the global market for orphan diseases in terms of revenue. North
America and Europe are followed by Asia Pacific (APAC). In fact, the APAC
orphan diseases market is likely to witness an impressive growth over the next
couple of years.
Competitive Landscape
Some of the top-notch companies operating in the
global orphan diseases market include F. Hoffmann-La Roche Ltd (Switzerland),
Vertex Pharmaceuticals Incorporated (US), CELGENE CORPORATION (US), Merck &
Co., Inc (US), Novartis AG (Switzerland), Bristol-Myers Squibb Company (US),
AbbVie Inc. (US), Sanofi (French), Alexion (US), GlaxoSmithKline plc. (UK) and
Pfizer Inc. (US).
No comments:
Post a Comment