Asia becomes a promising market for Orphan Drugs in Asia-Pacific region during forecast period

Asia-Pacific Orphan Drugs research report, published by Market Data Forecast estimates that the market is growing with a CAGR of 8.92% to reach USD 42.35 billion by 2021, from USD 27.36 billion in 2016.

Orphan Drugs Market are medical products which are used for the healing of ailments or conditions which includes a very small percentage of the population. Diseases which have low occurrence rates are no less important than ones that have a higher frequency. Hence orphan drugs market has maintained a sustainable growth in the market.

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Currently, orphan drugs constitute only 6% of the complete pharmaceuticals market over the globe. Asia is becoming a favorable market for the growth of orphan drugs. Singapore established the Orphan Drug exemption to the Medicines Act in 1991 and Japan approved its Orphan Drug Regulation in 1993, permitting market exclusiveness for new orphan drugs for 10 years.
The report also presents detailed analysis of multitude of factors affecting the Orphan Drugs bearing either positive or negative outcomes. Some of those factors are
• Increasing healthcare expenditure.
• Supporting government policies.
• Prevalence of chronic diseases.

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For detailed understanding orphan drugs market is differentiated on basis of type, and therapeutics. Each sub segment is accompanied with Market Size Estimations and Y-o-Y Forecasts as well.

The Asia-Pacific Orphan Drugs market is segmented based on Type and Therapeutic. The market for Orphan Drugs, on the basis of Type is segmented into Biological and Non Biological. Non Biological Orphan Drugs lead the market, on the basis of type with more than 60% of the market share. On the basis of Therapeutic, the Orphan Drugs market is segmented into Hematology, Neurology, Oncology, and Others. On the basis of Therapeutics, Neurology accounts for almost 40% of the entire market share.

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The Asia-Pacific region is geographically segmented into China, India, Japan, South Korea, and Australia. Asia is a growing market for orphan drugs. With increasing population and cases of chronic diseases, Asian market growth seems promising in forecast period
The major companies dominating the Orphan Drugs market in this region are Novartis, GlaxoSmithKline, Roche, Alexion, Sanofi, Bristol Myers Squibb, Pfizer, Vertex, Celgene, and Merck.

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The Asia-Pacific Orphan Drugs Market report offers wide-range of scope:

• Regional and country-level analysis that provides an individual perspective of Asia-Pacific region and the aforementioned countries
• Know more about key areas of industry growth via detailed Segment-level analysis on basis of type, and therapeutics along with market size forecasts and y-o-y estimations
• Detailed explanation of major drivers, restraints, opportunities, and challenges (DROC) that affect the market and impact the ever-shifting market dynamics
• Strategic Analyses containing PESTLE and Porter’s Five Forces Analyses which are obtained by studying the macro & micro environmental factors that affect the market demographics
• Comprehensive listing of key market players along with Company overview, product portfolios, financials (subjected to availability), SWOT analysis and analyst overview
• Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
• Market Outlook - Investment opportunities devised by stand in experts to provide both individuals and organizations a strong financial foothold in the market.

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Market Data Forecast is a firm working in the areas of market research and business intelligence. We have rich experience in research across major industry segments like Healthcare, Agriculture, Food & Beverages etc. and we cater to the needs of both individual and corporate clients. Our research services contribute to key business areas like business process improvement, key decision making and developing appropriate corporate strategy. We are truly committed to our clients and other stakeholders for providing customized research services of the highest quality all the while being an organization that’s trusted for its integrity, respected for its accountability, and admired for its excellence, by both clients and competitors alike.

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