Global Orphan Drugs Market to Reach USD 3,199.3 Million by 2028; Increasing Prevalence of Rare Diseases among Global Population Driving the Orphan Drugs Market, States Vantage Market Research

WASHINGTON, Nov. 17, 2021 (GLOBE NEWSWIRE) -- The global orphan drugs market size is expected to reach USD 3,199 Million by 2028, exhibiting a CAGR of 7.4% during the forecast period. Increasing prevalence of rare diseases among the global population is the major factor for use of orphan drugs. Another reason for the market to grow is increasing investment in R&D. This is the major factors for rise in orphan drug marker to flourish in coming years, states Vantage Market Research, in a report, titled “Orphan Drugs Market by Disease Type (Oncologic Diseases, Metabolic Diseases, Hematologic & Immunologic Diseases, Infectious Diseases, Neurologic Diseases, Other Rare Diseases) by Indication (Non-Hodgkin Lymphoma, Acute Myeloid Leukemia, Cystic Fibrosis, Glioma, Pancreatic Cancer, Ovarian Cancer, Multiple Myeloma, Duchenne Muscular Dystrophy, Graft vs Host Disease, Renal Cell Carcinoma, Others) , by Region (North America, Europe, Asia Pacific, Latin America and Middle East & Africa): Global Market Assessment, 2021 – 2028.” 

The COVID-19 outbreak has affected various industries worldwide. The Orphan Drugs market had a positive impact. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop swift spread of COVID-19. These actions led to severe impact on the global economy impairing various industries. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data-points:

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1. Impact Assessment of COVID-19 Pandemic
   1. North America
   2. Europe
   3. Asia Pacific
   4. Latin America
   5. Middle East & Africa
2. Quarterly Market Revenue Forecast by Region 2020 & 2021
3. Key Strategies Undertaken by Companies to Tackle COVID-19
4. Long Term Dynamics
5. Short Term Dynamics

The report on Orphan Drugs Market highlights:

• Assessment of the market
• Premium Insights
• Competitive Landscape
• COVID Impact Analysis
• Historic Data, Estimates and Forecast
• Company Profiles
• Global and Regional Dynamics
  

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Market Overview:

Increasing Prevalence of Rare Diseases among the Global Population to Drive the Market

An orphan drug is a pharmaceutical agent developed to treat medical conditions, because they are so rare. The conditions are referred to as orphan diseases. These drugs are not developed by the pharmaceutical industry for economic reasons but which respond to public health need. The need for treatment due to rare diseases was the need to develop orphan diseases, due to this there are requirements for these drugs with special permissions to manufacture from government bodies. This factor is driving the growth for orphan drugs market globally.

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Increasing Investment in R&D Initiatives to Fuel the Market Growth

Increasing urbanization and unhealthy lifestyle among major global population is triggering rare disease among them. To fight against this huge R&D investments is required which is provided by key players in pharmaceutical industry. Government funding also helps for R&D initiatives, public universities and research institution help provide necessary laboratory equipment and tools for research. This is one of the factors driving the market to grow.

Regional Analysis:

There is Rising Investment in Orphan Drugs Market in North America

North America is believed to increase rapidly in terms of CAGR in coming years. This is attributed to the rising patients prone to rare diseases in this region. The main cause for this disease to trigger in this region is the unhealthy lifestyle and stress lifestyle. Government organisation such as NGO are investing huge amount of funds for developing this region to reduce the patients caused by this disease.

List of Prominent Players in the Orphan Drugs Market:

Recent Developments in the Industry:

1. October 2019, Bristol Myers Squibb spent a monstrous $74 billion to acquire Celgene, a leader in the orphan drug space. The same year, Roche picked up Spark Therapeutics, a biotech with a focus on gene therapies for rare and genetic disease, for $4.8 billion.

2. February 2019, Medpace, for instance, has been working and supporting clients in the orphan drug development space for over two decades. Approximately 95% of the company’s clients are small to medium-sized biotech companies and Bio-Pharmaceutical companies, and a sizable amount of its business is in orphan drug development.

This market titled “Orphan Drugs Market” will cover exclusive information in terms of Geographic Segmentation, Regional Analysis, Forecast, Quantitative Date – Units, Key Market Trends, and various others as mentioned below:

Table of Content –

1. Chapter No. 1: Introduction
   1. Report Scope
   2. Objectives of the Study
   3. USP & Key Offerings
   4. Target Audience
   5. Vantage Market Research Report Guidance/Walk-through
2. Chapter No. 2: Premium Insights
   1. Market Snapshot
   2. Top Investment Pockets
      1. Market Attractiveness Analysis, By Disease Type
      2. Market Attractiveness Analysis, By Indication
      3. Market Attractiveness Analysis, By North America
   3. Insights from Primary Respondents
3. Chapter No. 3: Key Market Dynamics
   1. Introduction
   2. Market Drivers
   3. Market Restraints
   4. Market Opportunities
   5. Porter’s Five Forces Analysis
   6. PEST Analysis
   7. Regulatory Landscape
   8. Technology Landscape

TOC continued…

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