Orphan drugs are becoming increasingly familiar in the healthcare sector. As compared to non-orphan drugs, the market for the former is showing double growth.
By 2026, sales of orphan drugs will make up 20% of all prescription medication sales and over one-third of the total value of the world’s drug pipeline, says research by market research firm Evaluate.
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‘The top ten biggest orphans will be worth $64 billion globally in 2028, by which time orphans will comprise a fifth of all non-generic prescription drug sales ($1.5 trillion). Over a third of global drug sales at Johnson & Johnson and AstraZeneca in 2028 will come from orphans – mostly in oncology. Johnson & Johnson’s multiple myeloma drug Darzalex holds onto the top spot with $14.5 billion, and AstraZeneca’s Lynparza and Calquence come in fourth and fifth with combined sales of $11 billion,’ says the report by Evaluate.
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In 2022, the Food and Drug Administration (FDA) authorized 18 orphan medications, including much-awaited drugs. The growth of the orphan drugs sector may not be practical without reliable assistance from governing bodies. Orphan drugs are produced for treating rare diseases.
Orphan medications and rare illnesses are at the forefront of cutting-edge research and new developments. Orphan pharmaceuticals make up about half of all innovative treatments authorized by the Food and Drug Administration (FDA) in the United States.
Will orphans continue to rule? Maybe yes, indicate some of the current trends.