TechNavio recognizes the following companies as the key players in Global Orphan Drugs Market: Novartis AG, F. Hoffmann-La Roche Ltd., Celgene Corp., Pfizer Inc., and Sanofi S.A.
Commenting on the report, an analyst from TechNavio’s team said: “There has been increase in awareness about the potential benefits of orphan drugs among patients, surgeons, and hospitals. Public awareness about the use of orphan drugs is rapidly growing as a result of increasing social and public exposure and more advocacy groups and awareness campaigns. For instance, in 2010, the US FDA created the Rare Disease Program within the Office of New Drugs with the specific focus of developing the policies and procedures for the review of new drug applications for orphan drug products and to ensure access to appropriate training for US FDA reviewers. Similarly in 2012, the US FDA hosted the first ever US FDA Rare Disease Patient Advocacy Day to enhance the rare disease patient advocacy community’s awareness of the US FDA’s roles and responsibilities in the development of products for rare diseases. Thus, with the increasing awareness of orphan drugs, the market is expected to witness positive growth in the near future.”
According to the report, one of the main drivers in this market is the shorter development timelines. The clinical trials of orphan drugs for rare diseases involve fewer patients, which contributes to a shorter development process.
Further, the report states that one of the main challenges is the high cost of drug development. The rise in the cost of drug development often tends to discourage pharmaceutical innovators from developing orphan drugs.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/report/global-orphan-drugs-market-2014-2018
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/healthcare-chemicals-food-retail
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TechNavio Announces the Publication of its Research Report – Global Orphan Drugs Market 2014-2018
