Global Orphan Drugs Market 2024-2028
Global Orphan Drugs Market 2024-2028
The orphan drugs market is forecasted to grow by USD 146.1 bn during 2023-2028, accelerating at a CAGR of 11.62% during the forecast period. The report on the orphan drugs market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by robust pipeline and recent drug approvals, rising incidence of rare diseases, and availability of incentives for orphan drug development.
Technavio's orphan drugs market is segmented as below:
- By Distribution Channel
- Hospital Pharmacy
- Specialty pharmacy
- Retail pharmacy
- Others
- By Product
- Biologics
- Non-biologics
- By Geographical Landscape
- North America
- Europe
- Asia
- Rest of World (ROW)
This study identifies the strategic focus on alliances, partnerships, and mergers and acquisitions as one of the prime reasons driving the orphan drugs market growth during the next few years. Also, emergence of combination therapies and novel targets and rising demand for genetic tests and protein biomarkers will lead to sizable demand in the market.
The report on the orphan drugs market covers the following areas:
- Orphan drugs market sizing
- Orphan drugs market forecast
- Orphan drugs market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading orphan drugs market vendors that include AbbVie Inc., Alnylam Pharmaceuticals Inc., Astellas Pharma Inc., AstraZeneca Plc, bluebird bio Inc., Bristol Myers Squibb Co., CSL Ltd., F. Hoffmann La Roche Ltd., Gilead Sciences Inc., GlaxoSmithKline Plc, Ipsen Pharma, Johnson and Johnson Services Inc., Merck and Co. Inc., Novartis AG, Novo Nordisk AS, Pfizer Inc., Ractigen Therapeutics, Sanofi SA, Takeda Pharmaceutical Co. Ltd., and Vertex Pharmaceuticals Inc.. Also, the orphan drugs market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.