Orphan Drugs Market | Discover Top Trends and Drivers
Trends, Drivers and Vendor Forecasts for 2021-2025
The orphan drugs market and it is expected to grow by $ 138.70 bn, accelerating at a CAGR of almost 15% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers to enable growth projections and insights. This analytical examination of the market will enable businesses to plan and set the path for future growth prospects.
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Orphan Drugs Market: Market Segments and Key Trends
The research report provides a detailed analysis of all the segments, key trends, and challenges that are likely to influence growth. The market is segmented by Product (Biologics and Non-biologics) and Geography (North America, Europe, Asia, and ROW). 41% of the market growth will originate from North America during the forecast period. However, delay in diagnosis is one of the challenges that will need to be overcome to drive growth.
Orphan Drugs Market: Leading Factors to Drive Market Growth
The rising incidence of rare diseases is one of the primary factors driving the growth of the orphan drugs market. The report provides a detailed study of all the factors that are likely to boost the market. An understanding of the key drivers will enable clients to leverage growth opportunities to their advantage with a view to short-term and long-term business goals.
Orphan Drugs Market: Competitive Landscape
The market is fragmented. The research report provides insights into the top market player and their product portfolio along with pipeline analysis of upcoming developments and growth opportunities. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. AbbVie Inc., Alnylam Pharmaceuticals Inc., bluebird bio Inc., Bristol-Myers Squibb Co., CSL Ltd., F. Hoffmann-La Roche Ltd., Johnson & Johnson, Novartis AG, Pfizer Inc., and Takeda Pharmaceutical Co. Ltd. are some of the major market participants.
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Orphan Drugs Market: Key Highlights of the Report for 2021-2025
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Orphan Drugs Market Size to Grow by $ 138.70 bn through 2021-2025 | Forecast and Trend Analysis
Technavio has been monitoring the orphan drugs market and it is expected to grow by $ 138.70 bn, accelerating at a CAGR of almost 15% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report
Orphan Drugs Market: Emerging Trends to Impact Market Growth
Emergence of combination therapies and novel targets to emerge as a key trend in the industrial orphan drugs market. This report provides a detailed analysis of all the trends that are likely to influence the growth of individual segments within the market as well as the overall market in focus. This analysis will enable clients to assess their play in the market and plan for growth opportunities.
Orphan Drugs Market: Vendor Analysis
The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. AbbVie Inc., Alnylam Pharmaceuticals Inc., bluebird bio Inc., Bristol-Myers Squibb Co., CSL Ltd., F. Hoffmann-La Roche Ltd., Johnson & Johnson, Novartis AG, Pfizer Inc., and Takeda Pharmaceutical Co. Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
Technavio custom reports provide market insights at the global and regional level along with a pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.
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Technavio has been monitoring the global orphan drugs market and it is expected to grow by USD 138.70 billion accelerating at a CAGR of almost 15% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking. View Free Sample Report
Orphan Drugs Market: Segmentation by Product
During 2020, the biologics segment accounted for the major share of the Orphan Drugs Market. The high target affinity and specificity toward specific human antigenic targets of biologics, the presence of advanced drug development technology platforms, and the rise in approval of new biologics are expected to boost the growth of the market segment.
Recent potential advances in therapeutics such as immunotherapies and cell and gene therapies are enabling progress in the development of improved orphan drugs. Most of the development is focused on targeted and combination therapies as they are proven to have a higher efficacy rate. The majority of vendors are formulating advanced combination therapies that can reverse the immunosuppressive mechanism. Immune checkpoint inhibitors (ICI) have demonstrated proven efficacy in a variety of oncology indications. The efficacy and durability of such drugs will have a positive influence on market growth.
Orphan Drugs Market: Segmentation by Geography
The US is one of the key markets for orphan drugs in North America. 41% of the market growth will originate from North America during the forecast period. The US is one of the key markets for orphan drugs in North America. However, market growth in this region will be slower than the growth of the market in Asia and ROW which are garnering greater attention in the pharmacology sector.
Orphan Drugs Market: Vendor Analysis
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. AbbVie Inc., Alnylam Pharmaceuticals Inc. and bluebird bio Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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