Chicago, IL -- (SBWire) -- 02/20/2017 --According to the new market research report, "Orphan Drugs Market, by Indication Types (Oncology, Ophthalmology, Hematology, Cardiovascular, Neurology, and Others) - Global Revenue, Trends, Growth, Share, Size and Forecast to 2022", published by Scalar Market Research, the global orphan drugs market is expected to grow at a steady CAGR of 11.43% from 2016 to 2022. At the estimated growth rate, the orphan drugs market is expected to grow from USD 111.87 billion in 2016 and become worth USD 214.14 billion by 2022.
The global orphan drugs market report offers in-depth analysis of the market size (revenue), market share, major market segments, different geographic regions, key players, premium insights, technology trends and forecast to 2022. It also focuses on the key drivers and opportunities in this market.
Browse Report Summary: https://www.scalarmarketresearch.com/market-reports/orphan-drugs-market
Buyers can expect to receive 10% customization on this report.
Key findings of the report:
1. The growing government support to the manufacturers of the orphan drugs from both the developed and the developing countries is expected to be one of the key driving factors for the global orphan drugs market.
2. The increased tax concession and the dedicated programs to develop and revolutionize the orphan drugs production is also expected to be one of the major growth drivers for the orphan drugs market on the global scale.
The rapid rise in the instances of various diseases such as some rare forms of cancers along with the rapid technological advancements is also attributed to be the vital driving factors for the growth of the orphan drugs market during the forecast period.
Oncology expected to dominate the therapeutic area segment of the global market
According to the report, the oncology treatments are expected to hold the largest share in the global orphan drugs market during the forecast period. The metabolic disease segment, on the other hand, is expected to grow at the fastest rate during the next few years. The rising instances of rare forms of cancer and other diseases and the rising demand from around the world are expected to be some of the significant growth drivers for the market.
North America expected to become the largest market for orphan drugs
According to the report, the North America segment is expected to be the largest geographic segment of the global market, based on the overall market share, followed by Europe and Asia-Pacific. The Rest of the World segment, on the other hand, is expected to grow at the fastest CAGR during the forecast period. This growth is attributed to the changing government policies and the rising demand for the orphan drugs from these regions.
Key Benefits of the Report:
1. The report presents an in-depth analysis of the orphan drugs market while focusing on the existing and future trends to highlight the key growth areas and investment pockets of the market
2. The report provides valuable insights into the key technological and market trends expected to impact the orphan drugs market during the forecast period
The report provides clear understanding of the roles of the key players and stakeholders involved in the market growth during the forecast period
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The orphan drugs market report provides analysis of the key players, including:
1. Abbott Laboratories
2. AbbVie, Inc.
3. Amgen
4. Bayer HealthCare AG
5. Genentech Inc.
6. Janssen Biotech, Inc.
7. Pfizer, Inc.
8. Sanofi S.A.
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Orphan Drugs Market Expected to Reach 214.14 Billion by 2022
The increasing number of cases of the rare forms of cancers coupled with the innovations in biotechnology are also driving the growth of the orphan drugs market.