Interferons Market Application, Trends, Growth, Opportunities and Worldwide Forecast to 2032
[250 Pages Report] As per a latest industry analysis by Future Market Insights, the global interferons market was valued at around US$ 9.1 Bn in 2021 and is anticipated to exhibit a CAGR of 3.9% over the forecast period (2022-2032).
Attribute Key Statistics
Global Interferons Market Estimated Size (2021E) US$ 9.1 Bn
Projected Market Valuation (2032F) US$ 13.8 Bn
Value-based CAGR (2022-2032) 3.9%
Collective Value Share: Top 5 Countries (2021E) 58.2%
A group of proteins produced by white blood cells, fibroblasts, and T-cells in response to viral infections, bacteria, tumor cells, and other pathogens are known as interferons. These glycoproteins, also known as cytokines, are frequently referred to as the first line of defense against pathogens.
Interferons have proved to be a cutting-edge and successful treatment option for illnesses such as cancer, hepatitis, and multiple sclerosis. In November 2021, for instance, the FDA approved BESREMi for the treatment of adults living with polycythemia vera, which is a recent advancement in the interferons industry.
Polycythemia vera is a group of rare, chronic, and life-threatening blood cancers caused by a mutation in bone marrow stem cells, which further leads to an abundance of blood cells. When this happens, a person is at high risk of significant health problems such as blood clots, strokes, and heart attacks.
One of the other factors driving the global interferons market is rising focus of key players on the development of innovative interferon-beta medications. Key players are also focusing on expanding their presence with the help of promotions, improved distribution networks, and enhanced customer services related to their products for the betterment of the brand and products.
For instance, in March 2020, Bayer and Curadev signed a research collaboration and license agreement to develop a novel stimulator of interferon genes (STING) antagonists across indications. It is known to help activate the innate immune system in auto-inflammatory diseases. Such breakthroughs in the global market are projected to bode well for the interferons industry in the upcoming decade.
Key Takeaways: Interferons Market
By product, interferon beta is the leading segment with a market share of around 2% in 2021.
In terms of indication, the multiple sclerosis segment dominates the interferons market and held a share of around 0% in 2021.
Based on end user, hospital pharmacies are expected to lead the interferons market and it generated a share of nearly 5% in 2021.
North America is considered to be the leading region in the interferons market with a share of about 2% in 2021.
“Growing number of therapeutic interferon approvals and their surging commercial applications in several disease indications are expected to propel the global interferons market,” says an analyst of Future Market Insights.
Competitive Landscape: Interferons Market
Leading manufacturers such as Pfizer, Merck & Co., Zydus Cadila, and Novartis AG are focusing on collaborations and acquisitions to enhance their presence in the market and compete with their rivals during the forecast period. Below are some of the latest industry developments by key market participants:
In March 2022, Pfizer completed the acquisition of Arena Pharmaceuticals to expand its inflammation and immunology therapeutics segment.
In January 2022, Pfizer and Beam Therapeutics announced an exclusive collaboration to explore innovative In Vivo base editing projects for three targets in rare genetic illnesses of the liver, muscle, and central nervous system.
In January 2022, Merck & Co. completed the acquisition of Exelead and aims to invest more than € 500 million in technical scale-up. Merck’s Life Science business segment will be able to provide comprehensive end-to-end contract development and manufacturing organization (CDMO) services across the mRNA value chain as a result of the acquisition.
More Valuable Insights on Interferons Market:
Future Market Insights brings a comprehensive research report on projected revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2032. The global interferons market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader. The study provides compelling insights on the interferons market segments based on product (interferon gamma, interferon beta, and interferon alpha), indication (multiple sclerosis, polycythemia vera, hepatitis C, melanoma, chronic granulomatous disease (CGD), and other indications), and end user (hospital pharmacies, retail pharmacies, specialty clinics, and online pharmacies) across seven major regions.
Interferons Market Outlook by Category
Chronic Granulomatous Disease (CGD)
By End User:
For More Information : https://www.futuremarketinsights.com/reports/interferons-market
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.Article source: https://articlebiz.com