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Orphan Drugs Market to Surpass US$ 125,016.1 Mn by 2025, Pfizer’s Strong Distribution Network to Enable it Establish a Stronghold Worldwide, states Fortune Business Insights

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Pune, June 03, 2020 (GLOBE NEWSWIRE) — The rising prevalence for chronic diseases is a major factor expected to drive the global orphan drugs market during the forecast period. Fortune Business Insights in a recent report, titled “Orphan Drugs Market Size, Share and Global Trend by Therapy Area (Oncology, Haematology, Neurology, Endocrinology, Cardiovascular, Respiratory, Immunotherapy), Drug Type (Biologics, Non-Biologics), Distribution Channel (Hospital Pharmacy, Retail Pharmacy, Online Sales) and Geography Forecast till 2025” published the above information. In the base year i.e. 2017, the global market was accounted for US$ 125,016.1 Mn and is estimated to reach US$ 294,037.8 Mn by forecast year i.e. 2025. Furthermore, the global market is anticipated to exhibit a CAGR of 11.4 % throughout the forecast years.The demand for oncology orphan drugs is increasing mainly on account of rising prevalence of cancer. Also, increasing number of FDA approvals for oncology orphan drugs is expected to drive the oncology therapy segment. Increased EU approvals are likely to pave way for the entry of novel orphan drugs during the forecast period. The oncology area is facing tremendous pressure as majority of patients are diagnosed with cancer every year. Moreover, different types of rare cancers have been discovered over the past few years, which calls for an immediate need to implement the administration of complex orphan drugs. Fortune Business Insights in the report predicts that this segment covered a share of 49.8% in the global orphan drugs market. The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
To get the short-term and long-term impact of COVID-19 on this Market.Please visit: https://www.fortunebusinessinsights.com/industry-reports/orphan-drugs-market-100088
“The demand for specific orphan drugs is likely to increase as patients are becoming aware about the prevalent rare diseseses,” stated a lead analyst at Fortune Business Insights. “As a result of this, demand for orphan drugs is expected to increase in hospital pharmacies across the world,” he added.  Rising R&D investments for drug development is another factor encouraging growth in the global orphan drugs market. Governments across the globe are developing a framework for drug development and discovery. This is expected to give significant impetus to the market in the forecast years.The demand for orphan drugs is likely to increase owing to increasing prevalence of metabolic and cardiovascular disorders. The rising penetration of mobile devices is likely to increase the online sales of orphan drugs. Consequently, several online retail stores are planning to adopt business strategies to increase their customer base.North America dominated the global orphan drugs market in 2017. It was valued at US$ 67,144.6 Mn in the year. The region will remain strong throughout the forecast period between 2017 and 2025. The rising support from governments regarding research and development (R&D) of orphan drugs is driving the market in North America. This region is likely to witness the highest number of FDA approvals for the orphan drug development, encouraging companies to develop new orphan drugs.In addition to this, the increasing emphasis on the implementation of orphan drugs act in North America is likely to create growth opportunities in the market. Besides North America, Europe is also anticipated to witness considerable growth owing to the incentivization of orphan drug manufacturing. Asia Pacific is expected to exhibit a considerable CAGR during the forecast period. This is ascribable to the increasing prevalence of rare diseases.Amgen Inc.Bayer AGF. Hoffmann-La Roche Ltd.Alexion Pharmaceuticals Inc.Novo Nordisk A/SNovartis AGBristol-Myers Squibb CompanyAstraZeneca plc.Daiichi Sankyo Company LimitedGlaxoSmithKline plc.IntroductionResearch ScopeMarket SegmentationResearch MethodologyDefinitions and AssumptionsExecutive SummaryMarket DynamicsMarket DriversMarket RestraintsMarket OpportunitiesMarket TrendsKey InsightsPrevalence of major orphan disease, by key countriesPipeline review for orphan drugsTechnological DevelopmentsHealthcare spending for key countries – 2017Global Orphan Drugs Market Analysis, Insights and Forecast, 2014-2025Key Findings / SummaryMarket Analysis, Insights and Forecast – By Therapy AreaOncologyHematologyNeurologyEndocrinologyCardiovascularRespiratoryImmunotherapyOthersMarket Analysis, Insights and Forecast – By Drug TypeBiologicsNon-BiologicsMarket Analysis, Insights and Forecast – By Distribution ChannelsHospital PharmacyRetail PharmacyOnline SalesOthersMarket Analysis, Insights and Forecast – By GeographyNorth AmericaEuropeAsia PacificRest of the WorldTOC Continued….!!!

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About Us:Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We, therefore, offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.Contact Us:Fortune Business Insights™ Pvt. Ltd.
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