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Biotech companies’ continued participation in the Global Orphan Drug Market Opportunity requires the development of new strategies rooted in the established knowledge of orphan developer experts.
Participation of big pharmaceutical companies in the ongoing clinical research of orphan drug are about to introduce a drastic change in overall scenario of the approach.
Global Orphan Drug Market of 150% growth is estimated by 2026
Earlier, the orphan drug segment was considered not so profitable and the global orphan drug market landscape was neglected by the multiple stake holders. The research and development activities related to orphan drugs were done by small size pharmaceutical firms and less than 25% by the big pharmaceutical companies.
The FDA & EMA structured regulatory and policy framework resulted in favorable economic environment for the entry of big pharmaceutical companies in the orphan drug segment and the development of global orphan drug market. Orphan drugs market has been then recognized as a promising therapeutic market as the diseases that are covered under the market are life-threatening diseases.
The number of clinical trials increased drastically in last 10 years to more than 500 for orphan drugs. Currently, more than 400 orphan designated drugs are commercially available in the marketed and close to 1000 drugs are undergoing clinical trials. The Global Orphan Drug Market Opportunity will be dominated by oncology Orphan Drug Development with ~35% Share and ~50% Market Share by the USA for a market value of US$ 300 Billion.
Specializing in rare disease, Boston Biotech Clinical Research works with biotech, pharmaceutical, device companies and investors to streamline the clinical trial process. Our experienced team helps each client reach their specific goals by customizing a clinical and regulatory road map of simplified programs and streamlined protocols to meet our clients’ requirements.