The Orphan Drugs Market in the Middle East & Africa was worth USD 12.74 billion in 2022 and estimated to be growing at a CAGR of 7.216%, to reach USD 18.05 billion by 2027.
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 more dangerous here than in the other areas of the world. Indeed, such ailments account for most rare diseases in the Middle East and are liable for the large 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 anticipated.
Increasing demand for quality drugs with the latest technology to cure rare diseases is a crucial driving factor for the market. Growing incidences of chronic and other diseases due to changes in the food habits and adoption of a sedentary lifestyle are accelerating the growth rate of the orphan drugs market in the Middle East & Africa. Also, these drugs are manufactured with a specific technique under the guidance of skilled people, which promotes better results, escalating the demand of the market. Implementing different policies by the government favoring the common people is also propelling the growth of the market in the Middle East & Africa. The rise in the prevalence to promote effective treatment procedures is magnifying the demand of the market. The growing focus on developing new products innovatively is also making the shares of the market expand enormously.
However, fluctuations in the availability of different raw materials used to manufacture specific drugs are slightly hampering the market's growth rate. High manufacturing cost remains a challenging factor for the market developers as orphan drugs are explicitly manufactured. In addition, the lack of specific knowledge over the production process of orphan drugs in rural areas impedes the market's growth rate. The government is also taking strict actions while approving drugs in concern towards people’s safety, which restricts the demand of the Middle East & Africa orphan drugs market.
This research report on the MEA orphan drugs market is segmented and sub-segmented into the following categories:
Regionally, South Africa to lead the MEA orphan drugs market during the forecast period. The improved healthcare facilities majorly drive the orphan drugs market in South Africa; observation on rare illnesses and orphan drugs are likely to anticipate the market growth. In addition, increasing stipulation for manufacturing quality drugs with the latest technologies for curing rare diseases is to accelerate the market growth of the orphan drugs market during the analysis period.
KEY MARKET PLAYERS:
Companies like Novartis, GlaxoSmithKline, Roche, Alexion, Sanofi, Bristol Myers Squibb, Pfizer, Vertex, Celgene, and Merck are leading the Orphan Drugs Market in Middle East & Africa.
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