Annual “EvaluatePharma® Orphan Drug Report 2018” sees orphan drugs capture a fifth of worldwide prescription sales by 2024, with sales growing to $262bn
London, UK, Boston, US and Tokyo, Japan – 29 May 2018 – Continuing unmet medical need is set to fuel the growth of the worldwide orphan drug market, with sales predicted to grow at over 11% a year to $262bn by 2024, according to EvaluatePharma’s fifth Orphan Drug Report.
But while there is strong demand for new treatments, the price that orphan drug developers can command for their products could be coming under pressure. This year’s report shows that the year-on-year price increases orphan drugs can command have fallen. However, the mean cost per patient per year still managed to hit $147,308 in 2017, more than four times the $30,708 mean cost for non-orphan drugs.
“While the overall 2024 revenue forecast for orphan drugs shows growth at double the rate of non-orphan drugs, if you just look at the forecasts for orphan and non-orphan drugs currently in R&D, they show similar CAGRs of about +132%,” said Karen Pomeranz, PhD, managing analyst and report author. “It’s possible that increased pricing pressure is contributing to this equilibrium. However, there are likely other factors at play as well, such as the expected levels of penetration and prescribing, and differences in the number of products expected to launch in each segment.”
EvaluatePharma Orphan Drug Report 2018 Highlights:
The “EvaluatePharma Orphan Drug Report 2018”, is based on commercial intelligence and consensus forecasts from EvaluatePharma®. The report can be downloaded at www.evaluategroup.com/OrphanDrug2018
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