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).
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