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Global Orphan Drugs Market Report: 2016 Edition

03-23-2017 02:07 PM CET | Health & Medicine

Press release from: MarketResearchReports.Biz

A rare disease is the one that occurs uncommonly or rarely in the general population.

However, there exists no clear definition for categorizing “rare diseases” and is usually defined on the basis of the prevalence, and some other factors including the severity of disease and availability of treatment options. Rare diseases are often serious, chronic and progressive. Orphan drugs are medicinal products intended for the diagnosis, prevention or treatment of rare diseases. These drugs are referred to be “orphan” as under normal conditions because these drugs are not cost effective to be developed by the pharmaceuticals industry, intended for a small number of patients suffering from rare conditions.

Increasing sales of prescription drugs, substantial benefits for new entrants in rare disease drug market, increased spending on medicines, rising healthcare expenditure and improving economic conditions of nations are some of the significant factors driving growth of the Orphan drugs market. However, the growth of the market is hindered by certain challenges including tougher regulatory approvals, limitation on charging higher prices and no approved drugs for several rare diseases including Polychethemia Vera (PV).

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The global orphan drugs market is expected to see numerous developments including approval of several Ultra-Rare drugs, increasing scope of Gene therapy, development of drugs for rare blood disease, higher success prospects for Hematology compared to Solid Tumors, attractive pricing option for orphan drug competitors and striking opportunities in developing orphan drugs.

The report, “Global Orphan Drugs Market” analyzes the current prevailing condition of the market along with its future scope of development. The global market along with specific market of the U.S., Canada, Europe and Japan, is being discussed in the report. The major trends, growth drivers as well as issues being faced by the industry are being presented in this report. The major players in the industry are being profiled, along with their key financials and strategies for growth.

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