LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global short bowel syndrome market to grow at a CAGR of close to 26% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the global short bowel syndrome (SBS) market for 2017-2021. The report also GLP-2, growth hormone, and glutamine as the three major segments based on drug class, of which the GLP-2 segment accounted for 48% of the market share in 2016.
“The emerging markets have immense growth potential and present a huge opportunity for drug manufacturers to expand their businesses. The regulatory approval process for drugs is lenient in the emerging countries such as India, Bangladesh, and China. This allows for the easy entry of global and regional vendors in these markets,” says Sapna Jha, a lead analyst at Technavio for cardiovascular and metabolic disorders research.
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Technavio analysts highlight the following three market drivers that are contributing to the growth of the global SBS market:
- Special drug designations
- Increase in patient assistance programs
- Shorter development timelines
Special drug designations
The R&D expenses are high for such novel molecules and hence, a special designation such as orphan drug status encourage the vendors to conduct such R&D, which otherwise would make the molecule economically unviable. Considering the patient pool for a rare disease is largely limited in most of the indications, the vendors find it difficult to recover the costs associated with the drug from discovery to launch status. However, the special designations such as fast track approval and orphan drug status provide the necessary stimulants to the drug makers, thereby, driving the market growth.
These designations carry benefits such as an extension of patent exclusivity period to address the need for an orphan drug, tax credits of up to 50% of R&D costs, and orphan drug’s sponsors are exempted from paying the US FDA application fees. These benefits will reduce the burden from vendors and encourage them to develop products for a rare disease.
Increase in patient assistance programs
Patient assistance programs by government and non-governmental organizations (NGOs) and major vendors propel the growth of the global SBS market.
“Individuals who cannot afford costly treatments are provided with financial assistance by state and federal agencies such as Social Security, Medicare, and Medicaid in the US,” says Sapna.
The Shire has introduced patient assistance program, OnePath, which aids with people who started treatment with GATTEX. This program will provide help to adults with SBS who are dependent on parenteral support. Since vendors also provide such programs, individuals show an inclination toward buying branded therapies, thereby increasing the market growth.
Shorter development timelines
The shorter development timelines are anticipated to have a positive impact on the market for orphan drugs during the forecast period. The clinical trials of orphan drugs are significantly shorter than those of non-orphan drugs owing to the special status. The average time required to launch an orphan drug from Phase II is 3.9 years, compared with 5.42 years for the non-orphan drugs. The clinical trials involving orphan diseases include fewer individuals than those for non-orphan diseases, which also adds to the shorter and faster development process. Also, orphan drugs not only present the benefit of shorter development timelines but also face comparatively fewer regulatory hurdles.
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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