Over the years, there has been a significant increase in the prevalence of rare diseases such as inherited genetic disorders, rare types of cancer, tropical infectious diseases, and neurodegenerative diseases. Although some rare diseases are inherited, others are a product of harmful environmental factors. Orphan drugs are specifically used to treat rare diseases and an orphan subset of non-orphan diseases. Thus, the high incidence of rare diseases, will increase the requirement of orphan drugs and thus drive market growth during the forecast period.
Looking for more information on this market? Request a free sample report
As per Technavio, the emergence of combination therapies and novel targets will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Orphan Drugs Market: Emergence of Combination Therapies and Novel Targets
There has been significant progress in the development of orphan drugs, owing to recent advances in various areas such as immunotherapies and CGT. These advances have been made in target selection, and combination therapy approaches for effectively reversing immunosuppressive mechanisms, thereby enhancing the durability of the therapeutics. Thus, the emergence of combination therapies and novel targets will be one of the key orphan drugs market trends during the forecast period.
“Apart from the emergence of combination therapies and novel targets, other factors such as the rising demand for genetic tests and protein biomarkers, and strategic partnerships and M&A activities will have a significant impact on the growth of the orphan drugs market value during the forecast period,” says a senior analyst at Technavio.
Global Orphan drugs Market: Segmentation Analysis
This market research report segments the global orphan drugs market by product (biologics, and non-biologics), and geographic regions (North America, Europe, Asia, and ROW).
The North American region led the orphan drugs market in 2018, followed by Europe, Asia, and ROW, respectively. The growth of the orphan drugs market share in North America can be attributed to several factors such as the new drug approvals, growing diagnosis of rare diseases, availability of reimbursement schemes, and the strong presence of key vendors in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at email@example.com.