Orphan Drugs

Orphan Drugs

Global Orphan Drugs Market to Reach US$394.7 Billion by 2030

The global market for Orphan Drugs estimated at US$179.5 Billion in the year 2023, is expected to reach US$394.7 Billion by 2030, growing at a CAGR of 11.9% over the analysis period 2023-2030. Biologic Drugs, one of the segments analyzed in the report, is expected to record a 12.7% CAGR and reach US$286.3 Billion by the end of the analysis period. Growth in the Non-biologic Drugs segment is estimated at 10.0% CAGR over the analysis period.

The U.S. Market is Estimated at US$72.3 Billion While China is Forecast to Grow at 13.1% CAGR

The Orphan Drugs market in the U.S. is estimated at US$72.3 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$30.2 Billion by the year 2030 trailing a CAGR of 13.1% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 10.7% and 10.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 12.0% CAGR.

Global Orphan Drugs Market - Key Trends & Drivers Summarized

Why Are Orphan Drugs Becoming Increasingly Important in Healthcare?

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.

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.

The Growth in the Orphan Drugs Market Is Driven by Several Factors.

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.

Select Competitors (Total 111 Featured) -

• 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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