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By 2020, orphan drugs are expected to account for 19 percent of the total share of prescription drug sales excluding generics, reaching $176 billion in annual sales, according to EvaluatePharma’s Orphan Drug Report 2014.
By 2020, orphan drugs are expected to account for 19 percent of the total share of prescription drug sales excluding generics, reaching $176 billion in annual sales, according to EvaluatePharma’s Orphan Drug Report 2014. At 11 percent, this growth is set to be more than double the 5 percent growth rate of the overall prescription market, excluding generics.
In 2014, the average orphan drug cost per patient per year was $137,782, compared to an average of $20,875 for a non-orphan drug. Evaluate’s Head of Research Anthony Raeside, commented: “Orphan drugs are no longer a niche segment of the market and are projected to account for 19 percent of the prescription drug market by 2020. Although orphan populations are by definition the smallest, they represent big per-patient outlays, and insurers will be looking carefully at new tools to arrest cost growth as more and more orphan drugs launch.”
Some of the report’s findings include:
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