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Orphan Drugs Market Outlook to 2026 | Growth and Analysis by Top Vendors like Biogen Idec Limited, Eli Lilly and company, Bristol-Myers Squibb, Vertex pharmaceuticals, Bayer AG, Sanofi, Johnson & Johnson

11-15-2018 02:16 PM CET | Health & Medicine

Press release from: Polaris Market Research & Consulting

Orphan Drugs Market

Orphan Drugs Market

Orphan disease, also known as a rare disease, affects a small percentage of the population. In some parts of the world, an orphan disease is a rare disease whose rarity means there's a lack of a market enormous enough to gain provision and assets for discovering treatments for that diseases, except by the government granting economically advantageous conditions to creating and selling such treatments.

Orphan Drugs is medicine, vaccine, or in-vivo diagnostic mediator that is anticipated to diagnose, treat, and prevent an unusual disease or medical condition including chronic diseases. Most of the orphan diseases are genetic and thus are present through the individuals’ entire lifespan, and the indications may not immediately act. It is projected that approximately five to eight thousand rare diseases are present currently, and approximately 30 Million people are suffering from rare diseases in the European Union that is around 8% of total European population. Moreover, according to the National Organization for Rare Disorders (NORD), ratio of orphan disease occurrence is 1 in 10 people with more than 350 million people worldwide, and approximately 50% of the people affected by this disease are children.

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The symptoms of most of the orphan diseases may appear at birth or in childhood, for diseases such as cystic fibrosis, infantile spinal muscular atrophy, familial adenomatous polyposis (FAP), patent ductus arteriosus (PDA), and lysosomal storage disorder. However, some of the disease indications appear during middle age, this type of disease includes acute myeloid leukaemia, glioma, and renal cell carcinoma. The determined number of orphan diseases has notorious genetic origins. While, some diseases are the result of bacterial and viral infections due to degenerative causes.

Collaboration of Regulatory Organizations with Research Institutes to Propel the Global Market Growth

The Global Orphan Drugs market is majorly driven by growing number of people suffering orphan disease. Moreover, regulatory bodies are collaborating with research institutes and promoting research & development structure on the orphan disease, further propelling the growth in orphan drugs market. For instance, The European Union seventh frame work program for research and technical development is anticipated to bolster the research into these diseases. In addition, National Organization for Rare Disease (NORD) is authorized to provide the technical and scientific information for orphan diseases to patients, families, and public. These patient support programs offer information regarding disease-specific medication as well as treatment.

However, high initial investment and high treatment cost might hinder growth in global orphan drugs market. Moreover, the regulatory framework and standards vary from country to country, making it difficult for key players to operate on a worldwide level.

Global Orphan Drugs Market Taxonomy:

The global orphan drugs market is segmented on the basis of disease type, product type, distribution channel, and geography.

Key players in Global Orphan Drugs Market:

Hoffmann- La Roche
Celgene Corporation
Alexion Pharmaceuticals, Inc.
Novartis AG
Takeda Pharmaceuticals Company Limited
Biogen Idec Limited
Eli Lilly and company
Bristol-Myers Squibb
Vertex pharmaceuticals, Inc.
Bayer AG
Sanofi
Johnson & Johnson

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About Polaris Market Research:

Polaris Market Research is a global market research and consulting company. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises.

Contact us:

Mr. Neel
Corporate Sales, USA
Polaris Market Research
Phone: 1-646-568-9980
Email: neel@polarismarketresearch.com
Web: https://www.polarismarketresearch.com/

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