Orphan Drugs are pharmaceutical products that treat a rare medical condition or disease. The development of orphan drugs has been financially incentivized through U.S. law via the Orphan Drug Act of 1983.
The Orphan Drugs market was worth XX Billion in 2018 and is forecasted to reach XX Billion by 2026, growing at a CAGR of XX% during the forecast period (2019-2026).
Incentives for developing orphan drugs, The financial incentives and overall rewards for the successful development of drugs for the treatment and diagnosis of rare diseases and conditions are significant, and as such companies are motivated to design commercially viable end-products to obtain such benefits. The high initial investments result in higher per patient treatment cost, acting as one of the significant barriers to market entry for the orphan drugs market.
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