World Orphan Drug Market

Date: 2016-08
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Orphan drugs are type of pharmaceutical drugs that are used in the treatment of rare genetic diseases or rare medical conditions. The global pharmaceutical drugs market was valued at approximately $962.1 billion in 2012, which is the parent market for orphan drugs. Receiving approvals for commercialization of orphan drugs is quite easy in developed countries such as U.S. and European countries due to favorable government policies. The major driving factor for this market is increase in investment from pharmaceutical companies that are suffering from loss in terms of revenue from their conventional products.

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