Orphan Drugs Market Growing at a CAGR of 10.20% During 2017 to 2021, Says a New Report at ReportsnReports.com
PUNE, India, April 17, 2017 /PRNewswire/ --
One trend in orphan drugs market is repurposing of non-orphan drugs to orphan drugs. The orphan drugs market has witnessed many successful repositioning of drugs from non-orphan label to orphan label. Since the implementation of the orphan drug legislation in the United States, more than 69 drugs which were first approved by US FDA for the treatment of rare diseases were not entirely new and had been repurposed from the non-orphan label to the orphan label.
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Today, most of the pharmaceutical and biotechnological companies have adopted the strategy of drug repurposing in order to save time and money. Repurposing of an already approved drug for a different indication helps to mitigate the risk of drug failure as the drug has undergone the pharmacovigilance regulatory requirement and post-marketing survey. This reduces the risk of heavy financial loss to the manufacturer. In addition, the drug repurposing strategy also helps manufacturers to extend their product life cycle by getting orphan drug status, and also prevents their product from generic competition.
Global Orphan Drugs Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the present scenario and the growth prospects of the global orphan drugs market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The following companies as the key players in the global orphan drugs market: AbbVie, Celgene, F. Hoffmann La Roche, and Novartis. Other prominent vendors in the market are: Amgen, Actelion, Alexion Pharmaceuticals, Bayer, Biogen, Bristol-Myers Squibb, Eli Lilly, Johnson & Johnson, Novo Nordisk, Pfizer, Sanofi, Shire, and Teva pharmaceutical. Order a copy of Global Orphan Drugs Market 2017-2021 research report at http://www.reportsnreports.com/purchase.aspx?name=949159.
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