Orphan Drugs Market Revenue Opportunies By Key Vendors - Acorda Therapeutics, Actelion Pharmaceuticals Ltd., Amgen, Alexion Pharmaceuticals, Baxter international, Bayer healthcare pharmaceuticals, Biomarin Pharmaceuticals, Novartis, F.Hoffmann-La Roche AG

The drugs which are developed for treatment of rare diseases and conditions are referred to as orphan drugs. The rare diseases such as Tourette syndrome, Huntington’s disease, muscular dystrophy, myoclonus, and ALS (Lou Gehrig’s disease) are some of those diseases for treatment of which adequate drugs have not been developed, and hence these diseases are treated by orphan drugs. Orphan drugs are developed by the pharmaceutical companies for public health need, and the sales generated by this drugs are very minimal when compared to normal drugs.

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Developing novel indications for designated orphan drugs is expected to drive the orphan drugs market

There are around 5,000 rare diseases listed globally and 80% of those are to genetic origins. The probability of getting infected by these diseases in adults is 50%.The need for the development of orphan drugs which will treat such diseases and proactive initiatives undertaken by government and regulatory authorities are the major factors driving the orphan drugs market. For instance, the authorities of U.S. FDA for orphan drug development department are providing the incentives to healthcare and biotechnology industries in order to enhance their research and development in orphan drugs. There are few drugs that have been withdrawn from the market due to certain risk developed over prolong administration of these drugs.

Numerous collaborative research programs across North America and Europe is owing to growth of orphan drugs market

Regional segmentation of orphan drugs market by Coherent Market Insights comprises of North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America dominates the market globally due to factors such as established regulatory and reimbursement framework and incentives given by U.S. Food and Drug Administration (FDA) for research and development in orphan drugs sector. The various collaborative research programs across United States and Europe provides research data on rare diseases to manufacturers, patients and health experts which gives timely medical care, thus boost the orphan drug market.

The increasing prevalence of rare cancer in patients owing to oncological diseases segment to dominate in the orphan drugs market

The global orphan drugs market is segmented on the basis of disease, by product type and by region

On the basis of disease type,

Hematologic and Immunologic diseases

Infectious diseases
Metabolic diseases
Neurologic diseases
Oncologic diseases
Other orphan diseases

On the basis of product type,

Biological orphan drugs
Non-biological orphan drugs

Orphan Drugs Market Keyplayers:

Key players operating the orphan drugs market are Acorda Therapeutics, Actelion Pharmaceuticals Ltd., Amgen, Alexion Pharmaceuticals, Baxter international, Bayer healthcare pharmaceuticals, Biomarin Pharmaceuticals, Novartis, F.Hoffmann-La Roche AG, Johnson and Johnson and many others. The increase in investments, and some initiatives taken by government helping the orphan drug manufacturers.

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This release was published on openPR.