Report Overview

Canadian Orphan Disease Drugs stood at around USD XX billion in 2019 and is projected to reach USD XX billion by 2028, exhibiting a CAGR of XX% during the forecast period.

In Canada, Rare Diseases are defined as life-threatening, debilitating or serious, and chronic conditions affecting a small number of patients, many of which predominantly affect children, as these diseases are often genetically based and appear at birth or in early childhood. One in 12 Canadians has a rare disorder. Approximately, 3 million Canadians and their families face a devastating disease that severely impacts their lives. The designation Orphan Drug does not currently exist in Canada. There is currently no regulatory framework for the authorization of an Orphan Drug. Health Canada proposed an Orphan Drug Regulatory Framework in 2012, but it was not enacted and, in October 2017, the federal government deleted all references to the framework from the Ministry of Healths website without notice or consultation. Orphan Drugs therefore follow the same regulatory approval process as other drugs in Canada. The ongoing clinical trials and robust pipeline products in stem cell andgene therapy will contribute tremendously to the growth of the market.



Market Drivers

The demand for the orphan drugs has increased significantly owing to surge in prevalence of rare diseases. In addition, the rise in awareness among the populace regarding rare diseases, increase in R&D investment, and drug development drive the market growth. The increasing prevalence of chronic disorders can be an essential factor enabling the growth of the market. Similarly, the growing incidence of genetic disorders will fuel demand for the market. The growing investment in R&D activities by major market players will have a positive impact on the Orphan Drugs market growth during the forecast period.