Orphan Drug Market Booming Thanks To More R&D, Competition and Innovation

Orphan drugs show significant potential to assuage symptoms and decrease disease progression

January 25, 2021

Orphan drugs are used to treat orphan and rare diseases. The orphan drug industry is booming, with increasing focus from pharmaceuticals industry focused on mitigating the toll that rare diseases have on the world’s population every year, according to the BCC Research report, Drug Development in Rare Diseases: Focus on Clinical Trials and the Regulatory Landscape.

Factors boosting the market for orphan drugs include: legal frameworks such as tax credits and R&D grants; human genetic code sequencing; competition from generic drugs; competitive pricing; better manufacturing processes; and joint ventures and licensing agreements.

Report Highlights

• Although many factors are boosting the orphan drug industry, there are several challenges to industry growth: lack of trained professionals, regulatory challenges, vulnerable target groups and more.
• While Celgene is expected to be the leading company in 2025 with an estimated 73% of its total prescription sales coming from orphan drugs, the company’s market share is expected to decline by almost 40% by 2025.
• Oncology, blood, central nervous system and respiratory were the leading therapeutic categories for orphan drugs in 2019.

Read the full report here: https://www.bccresearch.com/market-research/pharmaceuticals/rare-diseases-drug-development-market.html

Drug Development in Rare Diseases: Focus on Clinical Trials and the Regulatory Landscape( PHM243A )
Publish Date: Jan 2021    

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