LONDON, February 25 /PRNewswire/ --
The patent expiry of blockbuster molecules has resulted in large pharmaceutical companies confronting intense competition from generics. CEOs have had to rethink strategies and devise alternative approaches to maintain the growth of their organisation and satisfy stakeholders.
A focus on the market for niche blockbuster drugs represents a potential strategy that can be pursued by large pharmaceutical companies. For instance, there has been strong growth in the orphan diseases market, due to various incentives and benefits provided by governments. In the European Union (EU), the emphasis is on orphan diseases, as it is a promising, emergent market that offers the prospect of assured return on investment (ROI).
New analysis from Frost Sullivan (http://www.pharma.frost.com), European Orphan Diseases Market, finds that the market earned revenues of US$16.48 billion in 2008 and estimates this to reach US$27.09 billion in 2015. This study thoroughly examines the following markets: orphan diseases, Gaucher's Disease and Pulmonary Arterial Hypertension (PAH) markets in Europe.
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As leading pharmaceutical companies are facing increasing competition because of impending patent expiries of blockbuster drugs, a number of companies are pursuing merger and acquisition of small biotechnology companies.
The market is set to witness major consolidation due to mergers and acquisitions among big pharmaceuticals and small biotech companies, notes Frost Sullivan Programme Leader Shabeer Hussain. The lack of adequate investment to support the development of newer therapies and technologies has been a major challenge for small biotechnology companies, resulting in their tilt towards merging with larger companies.
The European orphan diseases market grapples with numerous challenges. Of these, the most serious are the lack of awareness, poor diagnosis and limited accessibility of orphan drugs.
There are diverse policies among EU member countries with regard to the accessibility of orphan drugs, remarks Hussain. This is retarding market expansion.
EU-wide harmonisation in the context of accessibility processes and price policies will reduce delays in the availability of orphan drugs. EU-wide co-ordination will also help in streamlining the regulatory process governing these drugs.
EU healthcare ministers should encourage frequent discussions with patients, patient support groups and industry representatives to ensure a transparent and rapid approval process for orphan drugs.
European Orphan Diseases Market is part of the Pharmaceuticals Biotechnology Growth Partnership Service programme, which also includes research in the following markets: European Vaccines Market, European Biosimilars Market and Drug Approval Process in Europe - An Outlook. All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants. Interviews with the press are available.
Frost Sullivan has expanded its flagship Global Congress on Corporate Growth - GIL Global - into several major cities around the world including London. For the first time ever in Europe, Frost Sullivan will be hosting the Growth, Innovation and Leadership Congress 'GIL 2009: Europe' on 19-20 May, at the Sofitel St James in London. GIL Global is the industry's only event designed to support senior executives in their efforts to achieve sustainable, top-line growth. To register, obtain a programme agenda, explore sponsorship opportunities, or attend as a member of the media for GIL 2009: Europe, please contact Katja Feick, Corporate Communications Europe, at firstname.lastname@example.org. One-on-One interviews with Frost Sullivan senior growth consultants are also being scheduled. For more information you can also visit www.frost.com/giluk
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Katja Feick of Frost Sullivan Corporate Communications - Europe, +49-(0)-69-7703343, email@example.com. Photo: http://www.newscom.com/cgi-bin/prnh/20081117/FSLOGO