Orphan Drugs Strategic Business Report 2024-2030: Biologics, Oncology & Hospital Pharmacies - The Pulsating Segments Of Global Market

(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Jan. 22, 2025 (GLOBE NEWSWIRE) -- The "Orphan Drugs - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Orphan Drugs was estimated at US$179.5 Billion in 2023 and is projected to reach US$394.7 Billion by 2030, growing at a CAGR of 11.9% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
Orphan drugs are becoming a significant focus in the pharmaceutical industry, driven largely by the need to address rare diseases that affect a small percentage of the population but have historically been neglected due to limited market potential. These drugs are specifically developed to treat, prevent, or diagnose rare medical conditions, often called orphan or rare diseases, which affect fewer than 200,000 individuals per year in the United States.

The growing awareness of rare diseases, coupled with advocacy efforts from patient groups and non-profit organizations, has put pressure on pharmaceutical companies to focus on developing treatments for these underserved conditions. Government incentives, such as market exclusivity, tax credits, and accelerated approvals, have played a crucial role in encouraging pharmaceutical companies to invest in orphan drug development.

The growth in the orphan drugs market is driven by several factors, including government incentives such as extended market exclusivity, grants, and reduced fees that make orphan drug development financially viable for pharmaceutical companies. Advances in biotechnology and genomics have also enabled the development of targeted therapies for rare diseases, increasing the number of potential treatments. The increasing prevalence and diagnosis rates of rare diseases, partly due to improved medical knowledge and awareness, are also contributing to the expansion of the orphan drugs market.

Additionally, favorable regulatory frameworks and expedited approval processes from agencies like the FDA and EMA are helping bring orphan drugs to market faster. The role of patient advocacy groups, which actively raise funds, participate in research, and advocate for rare disease patients, is another major growth driver, as they contribute to an environment that supports innovation in orphan drug development.
How Is Innovation Shaping the Orphan Drugs Market?
Technological and scientific advancements have significantly boosted the development of orphan drugs, particularly through advances in genomics, personalized medicine, and biotechnology. Innovations such as CRISPR gene editing, targeted therapies, and monoclonal antibodies have revolutionized the ability to understand the underlying genetic and molecular causes of rare diseases, making it possible to create more effective and targeted treatments.

Additionally, the increasing use of biomarkers for precise diagnosis and drug matching is paving the way for personalized orphan drug therapies that are tailored to the individual genetic makeup of patients. This has not only increased the efficacy of treatments but also minimized side effects, making therapies more acceptable for patients suffering from chronic, rare conditions.
How Are Changes in Healthcare Dynamics and Patient Needs Influencing Orphan Drugs?
Changing dynamics in healthcare and the evolving needs of patients are influencing the orphan drugs market in multiple ways. There is a rising recognition of the significant unmet medical needs faced by patients suffering from rare diseases, leading to an increasing number of regulatory frameworks aimed at fast-tracking the approval process for these treatments.

As a result, regulatory bodies like the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA) are increasingly adopting measures to support quicker access to orphan drugs. Moreover, patient advocacy groups have played a key role in driving policy changes and raising awareness, which has, in turn, encouraged more clinical trials and funding in the orphan drug space. This growing awareness is also empowering patients to seek specialized care and treatments, leading to increased diagnosis rates for rare diseases and thus expanding the potential market for orphan drugs.
Key Insights:

• Market Growth: Understand the significant growth trajectory of the Biologic Drugs segment, which is expected to reach US$286.3 Billion by 2030 with a CAGR of a 12.7%. The Non-biologic Drugs segment is also set to grow at 10.0% CAGR over the analysis period.
• Regional Analysis: Gain insights into the U.S. market, estimated at $72.3 Billion in 2023, and China, forecasted to grow at an impressive 13.1% CAGR to reach $30.2 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Report Features:

• Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
• In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
• Company Profiles: Coverage of major players in the Global Orphan Drugs Market such as AbbVie Inc., Actelion Pharmaceuticals Ltd., Alexion Pharmaceuticals Inc., Amgen Inc., AstraZeneca Plc. and more.
• Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Key Attributes:

Report Attribute	Details
No. of Pages	409
Forecast Period	2023 - 2030
Estimated Market Value (USD) in 2023	$179.5 Billion
Forecasted Market Value (USD) by 2030	$394.7 Billion
Compound Annual Growth Rate	11.9%
Regions Covered	Global

Key Topics Covered:
MARKET OVERVIEW

• Orphan Drugs: A Beacon of Hope for Patients with Rare Diseases
• Sluggish Growth of Orphan Drugs Market: A Side-Effect of COVID-19
• Competitive Landscape
• Orphan Drugs - Global Key Competitors Percentage Market Share in 2024 (E)
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
• Global Market Overview and Analysis
• Global Orphan Drugs Market to Continue Exhibiting Signs of Robust Health
• Top 10 Orphan Drugs Worldwide
• Biologics, Oncology & Hospital Pharmacies: Pulsating Segments of Global Orphan Drugs Market
• North America Clinches Commanding Share of Global Orphan Drugs Market
• Recent Market Activity
• Influencer/Product/Technology Insights

MARKET TRENDS & DRIVERS

• Increasing Prevalence of Rare Diseases to Drive the Global Orphan Drugs Market
• Estimated Prevalence of Select Rare Diseases (Per 100000 Population): 2023
• The Rise of Biopharmaceutical Industry and Growth of Orphan Drugs
• List of U.S. FDA Approved Orphan Drugs (2022-2024)
• List of Orphan Drugs Approved in Europe between 2022 and 2024
• Advancements in Genetic and Molecular Research Transforms the Rare Disease Treatment
• Oncology's Dominance in the Orphan Drug Landscape: Expanding Horizons in Rare and Common Cancer Treatments
• Total Number of New Cancer Cases by Type: 2022
• High Cost Associated with Orphan Drug Development - A Key Challenge
• Serious Focus on R&D Activity to Propel Market Demand
• Breakdown of Global R&D Pipeline Value: Orphan Drugs & Non-Orphan Drugs (2022-2026)
• Top Orphan Drug Companies: Percentage Share of Orphan Drugs Sales as a Percentage of Total Sales for Leading Drug Companies (2023)
• Select Recent Advancements
• Favorable Government Policies Drive Market Growth
• Technologies & Strategies to Stay Ahead of Orphan Drug Development Game
• Incentives & Guidelines Injecting Adrenaline into Orphan Drug Development Efforts
• Uptrend in Healthcare Expenditure Creates Substantial Opportunities
• World Healthcare Expenditure (In US$ Trillion) for the Years 2017, 2019, 2021 & 2023

FOCUS ON SELECT PLAYERS: Some of the 111 companies featured in this Global Orphan Drugs market include

• AbbVie Inc.
• Actelion Pharmaceuticals Ltd.
• Alexion Pharmaceuticals Inc.
• Amgen Inc.
• AstraZeneca Plc.
• Bayer AG
• Biogen Inc.
• BioMarin Pharmaceutical Inc.
• Boehringer Ingelheim GmbH
• Bristol-Myers Squibb Company
• Celgene Corp.
• CEL-SCI Corporation
• Concordia International Corp.
• Eli Lilly and Company
• F. Hoffmann-La Roche Ltd.
• Genzyme Corp.,
• Johnson & Johnson
• Merck & Co. Inc.
• Merck Serono SA
• Novartis AG
• Pfizer Inc.
• Recordati S.p.A.
• Sanofi SA
• Shire Plc.
• Vertex Pharmaceuticals

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