InsightAce Analytic Pvt. Ltd. announces the release of market assessment report on “Global Orphan Drug Market Assessment – Revenue (US$ Mn) Forecast Till 2020”
According to the latest research by InsightAce Analytic, the global market was valued at US$ XX Mn in 2020 and it is expected to reach US$ XX million in 2020, recording a promising CAGR of XX% during the period of 2022-2031.
As per the The FDA & EMA, orphan drug are the drugs being used to treat disease with number of cases in US are less than 0.2 Million and not more than 5 in 10,000 people across the EU. Orphan drugs market are recognised as the potential therapeutic market because diseases which are covered under the market are life-threatening diseases. Increasing the research & development and speeding up the clinical research activities by small and mid-size pharmaceutical companies are driving the growth of orphan drug market. For instance, currently, more than 400 orphan drugs are commercially available in the market and around 1000 drugs are undergoing clinical trials.
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On the other flip side, the prevalence of patients suffering from rare disorders is less, for instance, According to the survey carried out by QuintilesIMS Institute, only 6,084 rare diseases were reported in the US in 2016, because of this many pharmaceutical industries do not entertain the manufacturing of orphan drugs. Thus, less adoption rate of these drugs restrains the market. However, the various financial and legal incentive provided by the governments and technological advancement expected to fuel the growth of market near the future.
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Why should buy this report:
To receive a comprehensive analysis of the prospects for Global Orphan Drug Market
To receive industry overview and future trends Orphan Drug market
To analyze the Orphan Drug market drivers and challenges
To get information on Orphan Drug size value/revenue (US$ Mn) forecast till 2028
Major Investments, Mergers & Acquisition in Orphan Drug industry
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