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The Orphan Drugs Market is Segmented by Drug Type, Top Selling Drugs, Disease Type, and Geography
2018 - 2026
Fastest Growing Market:
The orphan drugs market is expected to register a CAGR of 11.5% over the forecast period. Factors that are responsible for the growth of this market include market exclusivity for orphan drug developers, the rising prevalence of rare diseases, and favorable government policies.
As per the scope of the report, orphan drugs can be defined as a molecule intended to treat a rare disease. The rare disease, as the name suggests, has a low prevalence rate and has been defined differently across geographical locations.
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Under the type of drug segmentation, the biological orphan drug may register the highest market share, and this segment expected to grow at a good pace, during the forecast period. This high market share is due to the higher cost of biological drugs compared to non-biological ones. The recent trend of approval of biological orphan drugs for multiple indications has resulted in growth and has been an encouraging factor for new and established market players to enter this market. Another reason is that biological drugs have been used for treating rare diseases for a long time. The most focused orphan disease, i.e., cancer, which has a higher prevalence rate in the developed world, has been effectively treated by biological drugs with fewer side effects.
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North America currently dominates the market for orphan drugs and is expected to continue its stronghold for a few more years. In the North American region, the United States holds the largest market share. One of the reasons for market growth is that in the United States, a drug designated orphan drug status receives seven years of marketing exclusivity upon FDA approval for a specific indication, tax credits, and user fee waiver. Since 2013, the new indication approvals have increased greatly. Hence, the United states orphan drugs market is expected to grow during the forecast period.
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The orphan drugs market is moderately competitive and consists of quite a few major players. In terms of market share, a few of the major players currently dominate the market. With the rising number of diseases and an increasing number of cases each year, a few smaller players are entering the market and holding a substantial share.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Market Exclusivity for Orphan Drug Developers
4.2.2 Rising Prevalence of Rare Diseases
4.2.3 Favorable Government Policies
4.3 Market Restraints
4.3.1 High Per Patient Treatment Cost
4.3.2 Limited Patient Pool for Clinical Trials and Product Marketing
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Drug Type
5.2 By Top Selling Drugs
5.2.11 Other Top Selling Drugs
5.3 By Disease Type
5.3.5 Other Disease Types
5.4.1 North America
18.104.22.168 United States
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
5.4.4 Middle-East and Africa
220.127.116.11 South Africa
18.104.22.168 Rest of Middle-East and Africa
5.4.5 South America
22.214.171.124 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Alexion Pharmaceuticals
6.1.2 Celgene Corporation
6.1.3 Novartis AG
6.1.4 Pfizer Inc.
6.1.5 F. Hoffmann-La Roche AG
6.1.6 The Takeda Pharmaceutical Company Limited
6.1.7 Amgen Inc.
6.1.8 Sanofi S.A
6.1.9 Johnson & Johnson
6.1.10 AstraZeneca plc
6.1.11 AbbVie Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments