The Business Research Company’s Orphan Drugs Global Market Report 2021: COVID-19 Growth And Change To 2030
LONDON, GREATER LONDON , UK, August 3, 2021 /EINPresswire.com/ — According to the new market research report ‘Orphan Drugs Global Market Report 2021: COVID-19 Growth And Change To 2030’ published by The Business Research Company, the orphan drugs market is expected to grow from $135.2 billion in 2020 to $141.91 billion in 2021 at a compound annual growth rate (CAGR) of 5%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The orphan drugs market is expected to reach $183.27 billion in 2025 at a CAGR of 7%. The rising prevalence of rare diseases is a key factor driving the growth of the orphan drugs market.
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The orphan drugs market consists of sales of orphan drugs and related services that are used to treat rare diseases. An orphan drug is a pharmaceutical drug developed to treat patients suffering from rare diseases and would not make profit if developed commercially.
Trends In The Global Orphan Drugs Market
Approval of biological orphan drugs for multiple indication act as a key trend driving the growth of the orphan drugs market. The biological drugs are used for treating rare diseases such as cancer with fewer side effects that have a high prevalence rate in the developed world.
Global Orphan Drugs Market Segments:
The global orphan drugs market is segmented –
By Therapy Area: Oncology, Blood, Central Nervous System, Endocrine, Cardiovascular, Respiratory, Immunomodulatory
By Distribution Channel: Hospital Pharmacy, Retail Pharmacy, Online Sales
By Drug Type: Biological, Non-Biological
By Disease Type: Oncology, Hematology, Neurology, Cardiovascular, Others
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Orphan Drugs Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides orphan drugs global market overviews, analyzes and forecasts market size and growth for the global orphan drugs market, orphan drugs global market share, orphan drugs global market players, orphan drugs global market segments and geographies, orphan drugs global market’s leading competitors’ revenues, profiles and market shares. The orphan drugs global market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Read Orphan Drugs Global Market Report 2021 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Orphan Drugs Market Organizations Covered: Bristol-Myers Squibb Company, Celgene Corporation, F. Hoffmann-La Roche Ltd, Amgen, Biogen, Bayer, Novartis AG, GlaxoSmithKline plc, Johnson & Johnson, AbbVie Inc.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Interested to know more about The Business Research Company?
The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets. Here is a list of reports from The Business Research Company similar to the Orphan Drugs Global Market Report 2021:
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Source: EIN Presswire