The global orphan drugs market is likely to grow at double-digit CAGR to surpass US$ 300 Bn in revenues by the end of 2025. High return on investment on Phase III orphan drugs is likely to provide an impetus to the demand for orphan drugs. These insights are according to a new research report added to the repository of Market Research Reports Search Engine (MRRSE). The report titled “Orphan Drugs Market – Global Industry Analysis, Size, Share, Volume, Growth, Trends, and Forecast 2017 – 2025” offers comprehensive insights and analysis on the global orphan drugs market for the period 2017-2025.
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The report offers key insights on the drivers, restraints, opportunities, and threats that are likely to provide an impetus to the global demand for orphan drugs. Each factor is discussed in detail to give readers comprehensive insights on the impact of the developments in this market. Detailed segment-wise analysis is offered to readers to help them in better understanding of the lucrative, moderate, and sluggish categories in this market.
Globally, over 300 million people suffer from rare diseases which has led to increased focus on R&D so that effective treatment options can be developed. Governments around the world are encouraging R&D in the orphan drug segment through tax waivers and funding, which has further contributed to the growth of this segment. According to the report, these factors are likely to impact the growth of the market positively during the forecast period.
On the basis of disease indication, oncology is a key segment in terms of revenues. This segment is likely to remain attractive during the forecast period and offer growth opportunities to pharmaceutical companies. By product type, biologic products are likely to remain lucrative, as these higher efficacy has been a positive factor for their development.
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North America, led by the U.S. remains the most important region for the growth of the global orphan drugs market. The region is important in terms of both revenues and research and development on orphan drugs. Acquisitions and collaborations with leading universities around the globe remains a key strategy for manufacturers in the orphan drugs market. It is highly likely that many companies will look to consolidate their position in emerging markets, considering the available opportunities.
Some of the leading companies profiled in the report include Pfizer Inc., Alexion Pharmaceuticals Inc., GlaxoSmithKline plc, Celgene Corporation, Novartis AG, , and Johnson & Johnson.
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