London, 31 October 2014 – TechNavio, a tech-focused research firm, has published a new report on the Global Fabry Disease Market, which indicates that the market is expected to grow at a CAGR of 18.08 percent from 2014-2018.
Special provisions for orphan drugs is one of the major drivers in this market. Special incentives in the form of funding, guidance and market exclusivity offer an attractive opportunity to vendors to conduct research in this area.
The Global Fabry Disease Market is also expected to grow in emerging nations because of an increase in legislative changes, which are geared towards promoting research for rare or orphan diseases in these countries.
“Emerging economies are increasingly becoming aware of the importance of orphan drug designations and are working on the development of regulatory protocols required to award these designations,” says Faisal Ghaus, Vice President of TechNavio.
Additionally regions like Taiwan and Korea have already implemented regulations regarding orphan drug designation, whereas countries like New Zealand and India are still working on this. These areas are also working on providing incentives such as reimbursements to pharmaceutical manufacturers to encourage research in this area.
TechNavio currently has more than 3000 market research reports on a huge range of topics, including:
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