Release Date: 29-Jul-2014
“Global Orphan Cancer Drug Market & Clinical Pipeline Insight” Report Highlights:
The orphan drugs enjoy significant competitive advantages in the market owing to the market exclusivity period after the drug has been authorized. Through this clause, the manufacturer of orphan drugs is given a monopoly status in the market because according to the law, no other company is allowed to market the orphan drugs during the exclusivity period. Additionally, this monopolistic power is further strengthened with the fact that no other alternative health technology exists for many orphan drugs.
The segment which generated the largest amount of revenues in 2013 was orphan drugs for the oncology sector, which accounts for approximately 40%. A major reason for such a high level of concentration on oncology particularly is that the underlying genetic aberration of oncology generally helps in the process of identification of the disease. Oncology, as a therapeutic area has also transformed from evolution to customized or precision medicine in the pharmaceutical industry. Utilizing biomarkers to develop targeted treatments and therapies is an approach which is being increasingly used in recent years, which also further explains the reasons behind this therapeutic area’s majority share of orphan drug approvals.
With the oncology pipeline for orphan drugs being very promising, it is expected that over the next few years, many drugs are likely to be developed over a range of indications including the commonly diagnosed lung and colorectal cancer types. With the introduction of these products in the market, it is likely that there would be a significant improvement in the survival rates of the patients.
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