The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

North America held the largest orphan drugs market share in 2022.

The global orphan drugs market is expected to grow from $154.81 billion in 2022 to $170.77 billion in 2023 at a compound annual growth rate (CAGR) of 10.3%. The orphan drugs market is expected to grow from $293.6 billion in 2027 at a CAGR of 14.5%.

Major Driver In The Orphan Drugs Market ­– Rise In The Prevalence Of Rare Diseases
According to an article posted by the American Cancer Society, in the United States in January 2022, there are around 54,000 new cases of oropharyngeal or oral cancer per year. Oropharyngeal or mouth cancer kills 11,230 people each year. The average age of persons diagnosed with these tumours is 63, but they can strike at any age. Patients under the age of 55 account for slightly more than 20% (1 in 5) of all cases. As a result, the increased occurrence of rare diseases is propelling the orphan medication industry forward.

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Key Orphan Drugs Market Segments
1) By Therapy Area: Oncology, Blood, Central Nervous System, Endocrine, Cardiovascular, Respiratory, Immunomodulatory
2) By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Online Sales
3) By Drug Type: Biological, Non-Biological
4) By Disease Type: Oncology, Haematology, Neurology, Cardiovascular, Other Disease Types

Recent Orphan Drugs Market Trend – Approving Biological Orphan Drugs For Multiple Indication Act
Biological medications are used to cure rare diseases with fewer adverse effects, such as cancer, which has a significant occurrence rate in the developed world. For example, Cardax, Inc. stated that it has hired biological orphan drug expert Frederick D. Sancilio, Ph.D. to help establish the company’s biological orphan drug research programme. To increase revenue, firms are focusing on procuring biological orphan pharmaceuticals for commercial product development.

Orphan Drugs Market Prominent Players
Major players in the orphan drugs market are Bristol-Myers Squibb Company, Celgene Corporation, F. Hoffmann-La Roche Ltd., Amgen, Biogen, Bayer, Novartis AG, GlaxoSmithKline PLC., Johnson & Johnson, AbbVie Inc., Eli Lilly and Company, Alexion Pharmaceuticals, Shire, Novo Nordisk, AstraZeneca, Eisai, Daiichi Sankyo, Merck, Teva Pharmaceutical Industries, Actelion Pharmaceuticals Ltd., and Aegerion Pharmaceuticals.

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The Orphan Drugs Global Market Report 2023  provides a comprehensive overview on the orphan drugs market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the orphan drugs market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Orphan medications are those that are specifically created to treat a rare medical ailment. It could be defined as medicines that answer public health requirements but are not manufactured by the pharmaceutical industry due to cost restrictions. Because a chemical may be used to treat a prevalent ailment but was not created for another, more unusual indication, a medicine’s indications may also be referred to as “orphan.”

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