Orphan Disease Market research,Share, Trends, Regional Analysis and Segmentation by Key Companies 2030
Orphan Disease Market Overview
Orphan diseases are also referred to as rare diseases. Despite the low market interest, treatment demand continues to grow for orphan diseases. Orphan diseases represent a very small percentage of the global population. However, prevalence rate has increased considerably in recent years. Most orphan diseases are genetic and may remain in patient throughout their life. While many orphan diseases are low-risk and do not threaten life, some may have severe impact on the health. Approximately 7000 different rare diseases are listed, however, no exact figure is available.
The market for orphan diseases is growing swiftly. Rising level of awareness and increased funding is reflecting favourably on the market. According to a study conducted by market research future, the global Orphan Disease Market Research is projected to demonstrate a compound annual growth rate (CAGR) of 10.7% during the forecast period (2022-2030). The market size is expected to surpass USD 328.5 Bn by the year 2030.
Demand for orphan drugs has grown substantially in recent years. Many governments all around the world are financially incentivising drugs through regulations. A data released by National Organization for Rare Disorders (NORD), reveals that in 2018, nearly 30 Mn Americans suffer from 7,000 rare diseases. More and more initiatives are taken towards improving orphan disease care. This is notable for advanced countries such as the U.S., Japan and EU countries. Over the past couple years, orphan drug sales have doubled
Orphan Disease Market Segmentation
MRFR’s report includes a detailed segmental analysis of the market based on disease, treatment and end user.
On the basis of disease, the market has been segmented into genetic disorders, cancer, cardiovascular diseases, respiratory disorders, autoimmune disorders, neurological disorders, blood disorders, eye disorders, digestive disorders, growth disorder and others. On the basis of treatment, the market has been segmented into drug therapy, cell therapy, gene therapy and others. Based on end user, the market has been segmented into research laboratory, hospital and clinics and others.
Orphan Disease Market Regional Analysis
Depending on geographic region, Orphan Disease Market Report is segmented into four key regions: Americas, Europe, Asia-Pacific, and Middle East & Africa. Considering the global scenario of the market, North America comprise largest market share in Orphan diseases. Moreover the European market is also growing continuously and slowly catching up with the American market in the near future. On the other hand, Asia-Pacific market is expected to grow at the fastest pace in the Orphan diseases segment during the forecasted period. Rest of the World is likely to have a limited but steady growth in the market.
Competitive Landscape
Some of the top-notch companies operating in the global orphan diseases market include F. Hoffmann-La Roche Ltd (Switzerland), Vertex Pharmaceuticals Incorporated (US), CELGENE CORPORATION (US), Merck & Co., Inc (US), Novartis AG (Switzerland), Bristol-Myers Squibb Company (US), AbbVie Inc. (US), Sanofi (French), Alexion (US), GlaxoSmithKline plc. (UK) and Pfizer Inc. (US).
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