(PharmaNewsWire.Com, December 15, 2017 ) The Middle East and Africa Orphan Drugs Market was worth $10.20 billion in 2016 and estimated to be growing at a CAGR of 7.26%, to reach $14.46 billion by 2021. An orphan drug is a medicinal agent that has been created exclusively to treat an exceptional medical condition, the ailment itself being denoted to as an orphan disease
An orphan disease affects a tiny percentage of the populace. Most of the rare illnesses are genetic, and thus are existent throughout the individual's entire life, even if the symptoms do not appear straightaway.
The growth of the Middle East and Africa Orphan Drugs Market is mainly driven by factors such as extended market exclusivity, rise in cognizance for prompt diagnosis, and improving healthcare infrastructure in this region. Moreover, government enticements in the form of endowments, tax credits, and fees waivers are the other major factors boosting the growth of the market. However, factors such as costly procedures & high initial investment, and regulatory obstacles are hindering the growth of the market in this region.
The Middle East and Africa Orphan Drugs market is segmented based on Type and Therapeutic. The market for Orphan Drugs, on the basis of Type is segmented into Biological and Non Biological. Non Biological Orphan Drugs lead the market, on the basis of type with more than 60% of the market share. On the basis of Therapeutic, the Orphan Drugs market is segmented into Haematology, Neurology, Oncology, and Others. On the basis of Therapeutics, Neurology accounts for almost 40% of the entire market share.
The market has been geographically segmented into Middle East and Africa. In terms of market share, South Africa leads the market in this region. The population of this region is categorized by large family size, older maternal and paternal age. Hence, the danger of genetic syndromes may be higher here than in other regions of the world. Indeed, such ailments account for the majority of rare diseases in the Middle East and are liable for the heavy share of infant mortality, morbidity, and handicaps in Arab countries. As healthcare facilities improve in this region, as a natural consequence of economic progress, focus on rare ailments and orphan drugs is to be anticipated.
Presently, the market for orphan drugs represents only about 6% of the complete pharmaceutical market. An extremely conducive environment currently prevails for the growth of the orphan drugs market, thereby encouraging the entry of more companies into the market. The major companies dominating the Orphan Drugs market in this region are Novartis, GlaxoSmithKline, Roche, Alexion, Sanofi, Bristol Myers Squibb, Pfizer, Vertex, Celgene, and Merck.
Market Segmentation: Type • Introduction • Biological • Non Biological • Y-o-Y Growth Analysis, By Type
Scope of the report: • Global, Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped • Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis • Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development • A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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