The orphan drug market is predicted to generate $217 billion by 2024, i.e., 18% of the overall prescription sales. The orphan drug market is historically dominated by big pharmaceutical companies or biotech corporations; however, Small-Medium Businesses (SMBs) also attempt to form their presence felt.
With approximately 7,000 rare diseases and only about 10% having effective treatments, Orphan drugs for rare diseases offer pharmaceutical corporations the vast chance to handle the unmet medical wants.
The Orphan Drug Act giving the regulatory incentives, has conjointly acted as a catalyst and created the pharmaceutical companies to respond with targeted R&D efforts to bring new orphan medicine to the market. However, the model with successful launch and commercialized orphan drugs aren’t identical to non-rare diseases, requiring pharmaceutical companies to assume and act otherwise. In many ways, the commercialization of orphan drugs represents a selected case of the industry’s shift to specialty medicines and how pharmaceutical company corporations should respond otherwise to those new challenges.
Axtria brought its deep expertise in data-to-insights-to-operations and helped an SMB pharma organization develop a commercial data platform for a new product launch and its commercial success.
The impact generated for the client:
Robust commercial planning with continuous refinement
Reporting solutions for all user types
Daily tracking of patient onboarding and journey using Reporting solution
Proactive identification of risks/bottlenecks that can cause patient drop-out
HIPAA Compliant Patient/Caregiver Lead database
All critical system capabilities are enabled and ready to go much before the commercial launch
Read this illustration to know how Axtria engaged with an SMB Pharma and helped implement a commercial data platform enabled by Axtria DataMAx™.
Contact us at insights@axtria.com with any questions.