PUBLISHER: IMARC | PRODUCT CODE: 1467655
PUBLISHER: IMARC | PRODUCT CODE: 1467655
The global orphan drugs market size reached US$ 214.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 541.3 Billion by 2032, exhibiting a growth rate (CAGR) of 10.5% during 2024-2032.
Orphan drugs refer to pharmaceutical products used for the diagnosis, prevention and treatment of rare medical disorders. These drugs are manufactured to meet a specific public health requirement and usually have a limited market as they are produced for a small group of patients. They are effective against numerous oncological, metabolic, hematologic, immunologic, infectious and neurological diseases. Medical ailments, such as lymphoma, leukemia, cystic fibrosis, glioma, pancreatic cancer, ovarian cancer, multiple myeloma and renal cell carcinoma, are often life-threatening, chronic, progressive, degenerative and disabling and require specific treatment alternatives that are effective for their particular symptoms.
The increasing prevalence of cancer and other rare genetic disorders is one of the key factors driving the growth of the market. Pharmaceutical manufacturers are developing innovative orphan drugs to provide personalized therapy to patients. The market is also being driven by increasing awareness among the masses regarding the benefits of orphan drugs. The emergence of new pharmaceutical drug manufacturers and the implementation of favorable government policies to inhibit the spread of contagious diseases are also contributing to the market growth. Additionally, various product innovations, such as the development of biological orphan drugs, are acting as other growth-inducing factors. These drugs can treat diseases, such as cancer, and reverse the damage caused to the stem cells, which is facilitating their overall demand significantly. Other factors, including improvements in the healthcare infrastructure, along with extensive research and development (R&D) activities, are expected to drive the market further.
IMARC Group provides an analysis of the key trends in each sub-segment of the global orphan drugs market report, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on drug type, disease type, phase, top selling drugs and distribution channel.
Biological
Non-Biological
Oncology
Hematology
Neurology
Cardiovascular
Others
Phase I
Phase II
Phase III
Phase IV
Revlimid
Rituxan
Copaxone
Opdivo
Keytruda
Imbruvica
Avonex
Sensipar
Soliris
Others
Hospital Pharmacies
Retail Pharmacies
Online Stores
Others
North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The report has also analysed the competitive landscape of the market with some of the key players being AbbVie Inc., Alexion Pharmaceuticals Inc., Amgen Inc., Biogen Inc., Bristol-Myers Squibb Company, F. Hoffmann-La Roche AG (Roche Holding AG), Jazz Pharmaceuticals Plc, Johnson & Johnson, Merck & Co. Inc., Novartis AG, Pfizer Inc., Sanofi S.A., Takeda Pharmaceutical Company Limited and Teva Pharmaceutical Industries Ltd.