Covid-19 Impact on Orphan Drugs Market Size 2020, Global Share, SWOT Analysis, Growth, Top Company Revenue, Regional Statistics

Covid-19 Impact on Orphan Drugs Market Size 2020, Global Share, SWOT Analysis, Growth, Top Company Revenue, Regional Statistics

“Orphan Drugs Market”
Market Research Future (MRFR) collected data on several factors including implications of COVID 19 Impact on Orphan Drugs Market and demographic challenges, showed how it could move forward in the coming years.

Orphan Drugs Market Analysis

Global orphan drugs market is growing at a rapid pace. The market growth attributes to the growing prevalence of rare but serious, life-threatening disorders, such as human papillomavirus (HPV) and HPV16-positive cervical cancer. HPV is a viral infection that causes skin/ mucous membrane growths (warts) and different types of cancer. Also, increasing numbers of geriatric populaces contribute to market growth significantly. 

Moreover, the reimbursement recommendations and rebates to encourage the production of ODs escalate the market growth to furthered height. According to Market Research Future (MRFR), the valuation of global orphan drugs market is estimated to reach USD 2, 23,646.51 MN by 2023, growing at 11.50% CAGR throughout the review period (2018 – 2023).

Get a FREE Sample with Complete TOC By Considering the COVID-19 impact on Global Market @ https://www.marketresearchfuture.com/sample_request/2312

HTA Reforms and the demand for breakthrough diagnostics and treatment procedures act as a significant driving force behind the growth of the market. Besides, government initiatives that aim to spread awareness and development programs of orphan drugs positively impact market growth. Additionally, the introduction of various orphan products and therapeutics to respond to rare pediatric diseases influences the market growth.

Conversely, the high production cost of ODs is a major factor expected to impede the growth of the market. Also, the regulatory restriction on profitability hampers the market growth to a great deal. Nevertheless, the availability of cutting-edge technologies and growing access to medication would support the market increase throughout the forecast period. 

Orphan Drugs Market – Segments

The report is segmented into five dynamics;

By Drug TypeBiologics and Non-Biologics.

By SaleGenerics and Prescribed.

By DrugRevlimid, Rituxan, Opdivo, Keytruda, Imbruvica, Soliris, Jakaf, Pomalyst, Darzalex, Spinraza, Adcetris, and others.

By Therapy ClassOncology, Blood, Central Nervous Systems, Endocrine, Cardiovascular, Respiratory, and others.

By Regions: Americas, Europe, Asia-Pacific, Middle East & Africa, and Rest-of-the-World. 

Orphan Drugs Market  – Regional Analysis

North America dominates the global orphan drugs market. In 2017, the region accounted for 39.98% of the overall market share. The largest market share attributes to the increasing prevalence of rare diseases and disorders, such as HPV. According to the US Centers for Disease Control & Prevention, HPV causes around 34,000 cases of cancer in the country each year.

Among these, cervical cancer is the most common HPV-associated cancer in American women. HPV16-positive cervical cancer is the next major cause responsible for approximately 50% of cancer cases. Additionally, the vast development of technology drives market growth, improving screening, and manufacturing techniques. Also, the increasing production of prophylactic vaccination against HPV infections fosters the growth of the regional market.

Europe stands second in the global orphan drugs market. The market growth is majorly driven by the presence of many well-established industry players and well-developed healthcare systems. Besides, the massive funding for drug discoveries and developments push the regional market growth. Moreover, the reimbursement recommendations for ODs (reimbursement – T2R) issued by the four well-established European HTA bodies (France, Germany, UK, and Scotland) boost the orphan drugs market in Europe.

The orphan drugs market is brisk in the Asia Pacific region. Factors such as the vast technological advances and rising numbers of healthcare facilities foster regional market growth. The region demonstrates high growth potential for orphan drugs due to the increasing prevalence of diseases such as endocrinology, cardiovascular, lymphatic systems, and respiratory disorders. Moreover, the growing number of pharmaceutical companies with their strong export, favorable pricing, and clinical pipeline contribute to the regional market growth hugely. 

Global Orphan Drugs Market – Competitive Landscape

Highly competitive, the orphan drugs market appears to be well-established with the presence of several notable players. To gain a larger competitive share, industry players adopt strategic initiatives such as mergers & acquisitions, collaborations, expansion, and new technologies/product launches. 

Orphan Drugs Market Major Players 

Players active in the global orphan drugs market include Bayer, Amryt Pharma PLC, Alexion Pharmaceuticals Inc., AbbVie, Inc., GlaxoSmithKline PLC, and Vertex Pharmaceuticals, Inc., among others. 

Orphan Drugs Industry/Innovation/Related News:

July 01, 2020 — ISA Pharmaceuticals B V (the Netherlands), an immunotherapy company, announced receiving the FDA orphan-drug designation for its drug ISA101b in the US. ISA develops treatments for various cancers and infectious diseases. ISA101b is intended for the treatment of Human Papilloma Virus type 16 (HPV16)-positive cervical cancer.

June 18, 2020 — TFF Pharmaceuticals, Inc. (the US), a clinical-stage biopharmaceutical company, announced receiving the FDA orphan-drug designation for its Tacrolimus Inhalation Powder. The company is involved in the development and commercializing innovative drug products based on its patented Thin Film Freezing (TFF) technology platform. Tacrolimus Inhalation Powder is an immunosuppressive drug used in prophylaxis of lung allograft rejection. The FDA’s orphan drug designation is an important milestone in TFF’s development plan for Tacrolimus Inhalation Powder to prevent rejection of solid organ transplants.

Obtain Premium Research Report Details, Considering the impact of COVID-19 @ https://www.marketresearchfuture.com/reports/orphan-drugs-market-2312

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

NOTE: Our team of researchers are studying Covid-19 and its impact on various industry verticals and wherever required we will be considering covid-19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: www.marketresearchfuture.com/reports/orphan-drugs-market-2312