The Global Market for Orphan Drugs is Projected to Reach US$225 Billion by 2024
Increased Government Support, Product Launches, and Huge Unmet Needs Drive the Global Orphan Drugs Market, According to a New Report by Global Industry Analysts, Inc. GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size, and demand forecasts on the global Orphan Drugs market. The global market for Orphan Drugs is projected to reach US$225 billion by 2024 , driven by various regulatory and government initiatives to increase R&D, new product launches, and huge unmet needs. The global Orphan drugs market is exhibiting h ealthy growth prospects, driven by favourable acts, regulations, financial incentives, and marketing exclusivities. Backed by increased government support, pharma companies are beginning to consider orphan drugs as potential contributors to company revenues, and are plunging into the development of drugs for rare diseases. The low number of orphan drugs approved (just around 500-600) compared to the 7000 d...