Orphan
Therapeutics 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
Therapeutics Market 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 Therapeutics 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 Therapeutics Market.
Big pharmaceutical companies are expected to focus on improving their market
position during the forecast period.
Global Orphan Therapeutics 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 Therapeutics 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 Therapeutics 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 Therapeutics 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 Therapeutics 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