Orphan Drugs market through 2022–2032, the market is projected to develop at a 4.6% CAGR. The market for orphan pharmaceuticals was estimated to be worth US$ 165.4 billion in 2021 and is expected to reach US$ 267.6 billion by 2032, growing at a compound annual growth rate (CAGR) of 4.6%.
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Since the introduction of artificial intelligence and Internet of Things-integrated medical devices a decade ago, the healthcare sector has grown dramatically. Technological progress has yielded tremendous opportunities for diagnostics and therapies in the medical field.
The research provides large data sets that verify important trends influencing the market’s growth for orphan drugs. It provides insights into the tactics used by the major companies to emerge and tackle issues that will impede the market’s expansion for orphan drugs. With our in-depth analysis and knowledge of the historical, present, and projected state of the industry, the Orphan Drugs market report will assist in identifying the issues and help small and medium-sized businesses as well as large ones sail through the challenges.
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Key takeaways from the Orphan Drugs Market:
- The orphan drug market is expected to experience steady growth, reaching an estimated value of US$267.6 billion by 2032. This represents a compound annual growth rate (CAGR) of 4.6% from a 2021 baseline of US$165.4 billion.
- This growth indicates a rising demand for orphan drugs, which treat rare diseases with limited therapeutic options.
- The report suggests a potential for a moderately expanding market for orphan drugs over the next decade.
Key Players:
- AbbVie Inc.
- Pfizer Inc.
- Merck & Co. Inc.
- Amgen Inc.
- Biogen Inc.
- Bristol-Myers Squibb Company
- Sanofi S.A.
- F. Hoffmann-La Roche AG
- Teva Pharmaceutical Industries Ltd.
- Novartis AG
- Takeda Pharmaceutical Company Limited.
Orphan Drugs Market: Segmentation
By Therapy Area:
- Oncology
- Haematology
- Neurology
- Endocrinology
- Cardiovascular
- Others
By Drug Type:
- Biologics
- Non Biologics
By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Stores
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- The Middle East and Africa (MEA)
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With an extensive SWOT analysis, the FMI’s study presents the strengths, weaknesses, growth prospects and challenges of each player. The report also includes important data including the sales strategy, pricing strategy, and marketing strategy adopted by these players in the Orphan Drugs market.
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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