(PharmaNewsWire.Com, May 29, 2017 ) As per the syndicated report published by Market Data Forecast Europe Orphan Drugs Market which is estimated to be USD 30.72 billion in 2016 is poised to reach USD 44.43 billion by 2021, at a CAGR of 7.66% from 2016 to 2021. It can attributed to the factors such as increasing healthcare expenditure, favourable government initiatives, growing prevalence of chronic diseases, and small timeline required for Orphan Drug Market Size development. However, factors such as high initial investment, clinical study impediments, and regulatory obstacles are hindering the growth of the market.
To give a brief idea Orphan drugs are medical products which are utilized for the treatment of ailments or conditions which concern a very small percentage of the population. Diseases that have low occurrence rates are no less important than ones that have a higher frequency.
Orphan drugs are a comparatively niche segment because they are utilized for the treatment of rare diseases. For an ailment that has low frequency, finding the right equilibrium between cost and profit can be a tightrope walk. The total number of illnesses considered as orphan stands at about 7,000 currently, with just about 250 new diseases being added to this list yearly.
Europe Orphan Drugs Market is segmented based on type, therapeutics as mentioned below for attaining a more granular perspective of the market. In the report each sub segment is provided with Market Size Estimations and Y-o-Y Forecasts.
Europe is an amalgamation of major economies like Germany, Spain, Italy, U.K. and France among others to name a few. The report justifies this by offering country wise data for the EU5 countries while taking some other predominant economies into consideration as well (Rest of Europe).
Presently, the market for orphan drugs represents only about 6% of the complete pharmaceutical market. An extremely conducive environment currently prevails for the growth of the orphan drugs market, thereby encouraging the entry of more companies into the market. The major companies dominating the Global Orphan Drugs market are Novartis, GlaxoSmithKline, Roche, Alexion, Sanofi, Bristol Myers Squibb, Pfizer, Vertex, Celgene, and Merck.
The Orphan Drugs market study offers the following deliverables:
Regional and country-level analysis that provides an innate perspective of European region and the aforementioned countries Meticulously identifying the key areas of market growth by providing market size forecasts and y-o-y estimations at a Segment-level analysis Explanations of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics Study of macro and micro environmental factors that affect the European market presented in the form of PESTLE and Porters Five Forces Analyses Company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and analyst overview of the key market players operating in the region Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies Expertly devised Market Outlook - Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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