Orphan Drugs Market to Expand at a CAGR of 12.10% During 2017 – 2025

The global orphan drugs market is expected to witness the emergence of several new players over the coming years. The tremendous development of with the field of drug development has been the key reason behind the emergence of these new players. Currently, the market for orphan drugs consists of a wide pool of competitive market vendors who have learnt, evolved, and developed as experts of drug manufacturing through years of experience. Furthermore, these leading market players have been focusing on building an agile and nimble framework for the manufacture of orphan drugs. In order to do this, these vendors have recruited skilled researchers, scientists, and professionals who are trained in the domain of drug development.

It is anticipated that the strongholds of the leading players in the global market for orphan drugs would pose as a threat to the growth of the smaller players. It is projected that the small- and medium-sized market players would rely on the incentives provided by the government to sustain themselves. The new entrants are expected to start from the basics by producing elementary drugs and then advancing on to producing more complex orphan drugs. The key players in the global market for orphan drugs include Celgene Corporation, Novartis AG, Pfizer Inc., GlaxoSmithKline plc, Alexion Pharmaceuticals Inc., and Johnson & Johnson. These leading market players have attained expertise in the manufacture of orphan drugs and are expected to further elevate their manufacturing gradient.

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A report published by Transparency Market Research (TMR) builds a foundation to gauge the success rate of the global market for orphan drugs over the coming years. The report predicts that the global market for orphan drugs would expand at starry CAGR of 12.10% over the period between 2017 and 2025. Furthermore, the global market is expected to accumulate a net value of US$318.5 bn by 2025-end.

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