According to EvaluatePharma’s 2013 Orphan Drug Report, the orphan drug market is set to reach $127 billion by 2018, and will account for nearly 16% of total prescription drug sales. The predicted growth rate is double that of the overall prescription drug market (excluding generics).
The analysis demonstrates that orphan drugs offer a greater return on investment than non-orphan drugs – with orphan drugs that have been filed for regulatory review or in phase III trials providing a 1.7 times greater return on investment than non-orphan drugs.
Here are 5 key facts about the orphan drug market, as highlighted by the report:
- In 2012, orphan drugs sales increased 7.1% from the previous year, compared to a 2.1% decline in overall prescription drug sales (excluding generics)
- Novartis will remain as the world’s #1 orphan drug company in 2018
- Kyprolis, for multiple myeloma, was the most promising new orphan drug in 2012 (see where it came in the Top 8 best-selling orphan drugs approved and launched during 2012)
- In 2012, the number of orphan drug designations in the US fell by 7%, compared to a 44% increase in Europe
- 43 new drugs were approved by the FDA in 2012 – and 15 of these were orphan drugs
Do you agree with the report’s findings?
This infographic shows some more important facts about orphan drugs and rare diseases.
If you want to know more about innovation and strategy in the orphan drug market, you might be interested in attending the World Orphan Drug Congress Asia, 18-19 June 2013, Singapore, or the 4th World Orphan Drug Congress Europe, in Geneva on the 14th November 2013.