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Orphan Drug Market to Reach $112 Billion in 2017: Bcc Research
Date:7/16/2013

Wellesley, MA (PRWEB) July 16, 2013

In the new report, GLOBAL MARKETS FOR ORPHAN DRUGS (PHM038D), from BCC Research (http://www.bccresearch.com), the global market for orphan drugs was valued at $82.6 billion in 2011 and nearly $86 billion in 2012. The report forecasts total market value to reach $112 billion in 2017, after increasing at a five-year compound annual growth rate (CAGR) of 5.4%.

Orphan drugs are drugs that treat orphan diseases. An orphan disease is a disease that does not receive significant investment, research, or attention from the medical and pharmaceutical industries. Orphan diseases are most often rare diseases and are defined by using a ratio of incidence to population in the U.S., the EU, Japan and other developed countries. An orphan disease can also be a tropical disease whose typical sufferers cannot afford access to pharmaceutical treatment options.

Orphan diseases did not receive much attention from the pharmaceutical industry until the U.S. passed the first Orphan Drug Act in 1983. Other countries quickly began following suit with versions of the Orphan Drug Act. Before governments began passing these acts, the pharmaceutical industry could not make a profit from orphan drugs because of the small market size. Government intervention opened a path to profitability for pharmaceutical companies and created an interest to develop orphan drugs.

BCC Research’s Report analyzes the market for orphan drugs by region, by biological and non-biological drug type, by active ingredient, and by area of medical application. The report reveals why orphan drugs for oncology are the largest category for both biological and non-biological drugs. The report includes a detailed analysis of all oth
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