Orphan Drugs Market Expected to Reach $435.68 Billion by 2030

Orphan drugs industry 2030

Orphan drugs market study provides an in-depth analysis along with the current trends and future estimations.

PORTLAND, OREGON, UNITED STATES, November 21, 2023 /EINPresswire.com/ — Orphan drugs market size was valued at $140.00 billion in 2020 and is projected to reach $435.68 billion by 2030 registering a CAGR of 11.8% from 2021 to 2030. Orphan drugs are specialized pharmaceutical agents administered for the treatment of rare (orphan) diseases. These diseases have a very low prevalence rate; thus, pharmaceutical companies do not readily invest in these drugs as the returns on investment in orphan drugs are risky as compared to non-orphan drugs. Moreover, multiple clinical trials for drug testing cannot be voluntarily performed due to the small patient population. However, orphan drugs have shown tremendous potential in diagnosis and treatment of cancer; this trend is expected to continue throughout the forecast period.

𝐋𝐢𝐬𝐭 𝐨𝐟 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 :
BRISTOL-MYERS SQUIBB COMPANY, SANOFI S.A, JOHNSON & JOHNSON (JANSSEN GLOBAL SERVICES, LLC), F. HOFFMANN-LA ROCHE LTD., AMGEN INC., NOVARTIS INTERNATIONAL AG (SANDOZ), PFIZER INC., AMRYT PHARMA PLC., GLAXOSMITHKLINE PLC (GSK), ABBVIE INC.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 https://www.alliedmarketresearch.com/request-sample/204

COVID-19 is a large family of viruses that causes illness ranging from common cold to more severe respiratory diseases. The global orphan drugs market also declined in 2020 due to factors such as a decline in screening services, reduced access to specialists, treatment interruption, limited operations in most industries, inadequate funding to research & academic institutes, temporary closure of major academic institutes, and disrupted supply chain and challenges. However, the market is anticipated to witness recovery in 2021, and show stable growth for orphan drugs market in the coming future.

The global orphan drugs market is segmented on the basis of disease type, and region. By disease type, it is categorized into oncological diseases, metabolic diseases, hematologic & immunologic diseases, infectious diseases, neurological diseases, and other rare diseases that include transplantation diseases, gastrointestinal diseases, dermatologic diseases, perinatal & congenital abnormalities, and others.

Oncological diseases segment is again divided into acute myeloid leukemia (AML), pancreatic cancer, ovarian cancer, multiple myeloma, renal cell carcinoma, and others. In addition, metabolic diseases segment is further classified into hunter syndrome, Fabry disease, Gaucher disease, hypoparathyroidism, and others. Furthermore, hematologic & immunologic diseases segment is segmented into hereditary angioedema (HAE), hemophilia, and others. Moreover, neurological diseases segment is further segmented into Duchenne muscular dystrophy (DMD), Alzheimer’s disease, Huntington’s disease, and others. The oncological diseases segment was the major shareholder in 2020, owing to increase in prevalence of oncological diseases, rise in cancer awareness among population, early screening of cancer and availability of oncological orphan drugs for treatment of cancer.

𝐅𝐨𝐫 𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐈𝐧𝐪𝐮𝐢𝐫𝐲 https://www.alliedmarketresearch.com/purchase-enquiry/204

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