Infinium Global Research Orphan Drugs Market | Page 3

Orphan Drugs Market: Trends and Forecasts up to 2024
Cardiovascular, Metabolic disorders, Endocrinology, Infectious diseases and other.
The product type segment included Biological and Non-bio logical products and
distributed over the channels like hospital pharmacy, retail pharmacy and others.
Economic incentives to encourage drug companies to develop and market
medicines for rare disease treatment is the key driving factor in the orphan drug
market. The rising occurrence of rare cancer cases, availability of orphan drugs at
hospital pharmacy and increasing hospitalization treatment for rare diseases are
expected to enhance the growth of orphan drug market over the forecast period.
On the other hand, the cost associate with production and R&D is more as compare
with other drugs that may hampering the market growth. Moreover, the rising
awareness of rare disease among population and increasing investments in R&D is
projected to create several opportunities in upcoming years.
North America dominates the market of orphan drugs owing to its highly developed
healthcare infrastructure and favorable government regulations. In North America
U.S. holds largest market share in this market due to economic incentives and rising
awareness about orphan drug. Moreover, the increasing investments to treat and
diagnose the rare disease also to facilitate the growth in the orphan drug market.
Segment Covered
The report on global orphan drugs market covers segments such as, disease type,
product types and distribution channel. On the basis of disease type the global
orphan drugs market is categorized into oncology, gastrointestinal, pulmonary,
hematology, neurology, infectious diseases and others. On the basis of product
types the global orphan drugs market is categorized into biologic and non-biologic.
On the basis of distribution channel the global orphan drugs market is categorized
into hospital pharmacies, specialty pharmacies and retail pharmacies.
Geographic Coverage
The countries covered in the North America region include the U.S., Canada, and
Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and
among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are
included in the European region. The U.S. drives the growth in the North America
region as it is the largest market in the region. The Asia-pacific region offers a
substantial potential for the market growth owing to rapid growth in markets such
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