Genetic disorders market is forecast to grow at 13.6% CAGR: Ken Research
Posted on 22 February 2018 by KenResearch
Genetic disorders market is forecast to grow from $19.6 billion in 2016 to $47.7 billion in 2023, at a CAGR of 13.6%. This high level of growth will be driven largely by orphan drugs for the treatment of rare genetic disorders. Report titled “Global Genetic Disorders Drugs Market to 2023 - A Rapidly Growing Treatment Landscape Driven by Targeted Complement System Inhibitors and Enzyme Replacement Therapies to Treat PNH and Lysosomal Storage Disease” helps the reader to gain more insights in the area of genetic disorders covering aspects such as Symptoms, Diagnosis, Treatment, Key products, clinical trials, company analysis and future forecast.
As rare genetic disorders are often debilitating or fatal, with low prevalence, sponsors are willing to pay for some of the most expensive treatments in the pharmaceutical industry. This contributes to high sales revenue, despite small patient groups. Orphan drugs are able to generate high revenue because of developmental incentives such as marketing exclusivity, which allows for longer periods before generics and biosimilars can enter the market. Furthermore, other incentives such as tax credits and accelerated approval lower the developmental costs faced by pharmaceutical companies, reducing the inherent financial risks involved and increasing the likelihood of recouping developmental costs from product sales.
The genetic disorders market has a strong presence of specialized companies that focus on the development of treatments for genetic disorders, including Alexion, Sanofi, Shire and Vertex. Treating genetic disorders can be a desirable prospect, as many genetic disorders are underserved – with only symptomatic treatments – allowing for high prices. Furthermore, a range of lucrative incentives such as orphan drug status are available for pharmaceutical companies to develop treatments for rare diseases, including extended periods of market exclusivity and tax credits. There is evidence of more companies moving into this therapy area, and a resultant diversification of market share.
Key Topics Covered in the Report:
Genetic disorders market research report
Genetic disorders treatment market
Genetic disorders medicine market
Genetic disorder cases worldwide
Genetic disorder Drugs Market
G Protein-Coupled Receptor Modulators Market
Metabolic Enzyme Mediators Market
Key Pipeline Products in Genetic Disorders Market
Clinical Trials in Genetic disorder Drugs Market
Soliris (eculizumab) Alexion Market
Orkambi (lumacaftor/ivacaftor) Vertex Market
Pulmozyme (dornase alfa) Roche Market
Duchenne Muscular Dystrophy Treatment Market
Lysosomal Storage Disease Treatment Market
Paroxysmal Nocturnal Hemoglobinuria Treatment Market
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Ankur Gupta, Head Marketing & Communications