Orphan drugs are specific
pharmaceutical agents which are developed for treatment of orphan or rare
diseases. Orphan disease, according to laws of various countries, may include
medical conditions which have low prevalence, i.e. affects less than 200,000
persons (U.S.), or 50,000 (Japan). Expiring patents of blockbuster drugs,
drying pipelines, stringent regulations across the globe, has encouraged the
pharmaceutical industries to shift the focus to a new business model that
includes niche busters or orphan drugs.
Currently, around 7,000 diseases are
recognized as orphan and around 250 new diseases are added to the list every
year. Orphan drug laws introduced and implemented in countries such as the
U.S., Japan, Singapore, Australia, and the European Union, have stimulated the
orphan drug market and shifted the focus of pharmaceutical companies towards
incentives on developing orphan drugs. The orphan drugs market currently forms
around six percent of the total pharmaceutical market. However, this market is
expected to register double digit growth to outshine the mainstream drugs
market in the near future.
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Orphan drugs market will be driven
by the R&D benefits or grants availed, FDA fee waiver benefits, and shorter
development timelines along with favorable reimbursement, prolonged
exclusivity, premium pricing and fewer hurdles for getting approval of the
drug. However, the market confronts the challenge of locating or recruiting
patient for trials. Nevertheless, the orphan drug market is expected to
maintain a competitive edge over the traditional drug model.
Some of the major players in the
orphan drug market include Pfizer, Genentech, Abbott Laboratories, Amgen, Inc.,
Sanofi Aventis, Janssen Biotech, Inc. among others.
This research report analyzes this
market depending on its market segments, major geographies, and current market
trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Europe
- Rest of the World
This report provides comprehensive
analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
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This report is a complete study of current
trends in the market, industry growth drivers, and restraints. It provides
market projections for the coming years. It includes analysis of recent
developments in technology, Porter’s five force model analysis and detailed
profiles of top industry players. The report also includes a review of micro
and macro factors essential for the existing market players and new entrants
along with detailed value chain analysis.
Reasons for Buying this Report
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- It provides a technological growth map over time to understand the industry growth rate
- It provides a seven-year forecast assessed on the basis of how the market is predicted to grow
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