interferons market is expected to grow at a CAGR of around 4% from 2022-2028.
According to a new report published by UnivDatos Markets Insights, the interferons market is expected to grow at a CAGR of around 4% from 2022-2028. The analysis has been segmented into Product (Interferon Gamma, Interferon Beta, and Interferon Alpha); Indication (Multiple Sclerosis, Polycythemia Vera, Hepatitis C, Melanoma, Chronic Granulomatous Disease (CGD), And Others); Distribution Channel (Hospital Pharmacies, Retail Pharmacies, Online Pharmacies, and Others); Region/Country.
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The interferons market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the interferons market. The interferons market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the interferons market at the global and regional levels.
Market Overview
Interferons are the protein molecules that are part of the defense system of the body and are produced by the white blood cells as a defensive response to the disease. Furthermore, the interferon can also be synthesized in the laboratory which can be used in the treatment of various diseases. The rising prevalence of viral diseases is one of the major factors that is contributing to the growth of the interferons market. For example, as per the WHO, the average EVD case fatality rate is around 50%. Case fatality rates have varied from 25% to 90% in past outbreaks. Additionally, the changing lifestyle preferences and an increasing number of diseases that compromises immunity of the body are also responsible for the growth of the interferons market.
Factors such as an increase in the number of cancer incidences coupled with the involvement of the major industrial players in the development of interferon drugs for various diseases are the key factors that are influencing the market growth of interferon drugs.
The Interferons Market is expected to grow at a steady rate of around 4% owing to the increasing number of viral diseases. Major companies in the market that offer interferons are Roche, Merck & Co., Bristol-Myers Squibb, Biogen Inc., Bayer AG, Zydus Cadila, Novartis AG, Pfizer Inc., Biosidus, and Synairgen.
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COVID-19 Impact
COVID-19 has a staggering effect on the global market. However, the market for interferons was not largely affected by the pandemic. This is mainly during the COVID-19 pandemic the scientists were engaged in finding the treatment for the disease. Consequently, the interferons were also tested to find the cure for the pandemic that results in the increasing market demand for the drug.
· Based on the product, the market has been categorized into interferon gamma, interferon beta, and interferon alpha. The interferon-beta category is to witness a higher CAGR during the forecast period owing to its efficacy in the treatment of various brain disorders such as hepatitis. Additionally, the interferon beta also helps to reduce the episodes of relapsing-remitting which is a symptom of multiple sclerosis.
· Based on the indication, the market has been categorized into multiple sclerosis, polycythemia vera, hepatitis c, melanoma, chronic granulomatous disease (CGD), and others. Among them, the melanoma segment is expected to have significant growth in the market. The rising prevalence of skin cancer and the improved results of interferon therapy are attributed to the significant market share of melanoma in the interferon market. For example, as per the Australian Institute of Health and Welfare, the estimated number of males and females diagnosed with melanoma is 17,756 in 2022.
· Based on the distribution channel, the market has been categorized into hospital pharmacies, retail pharmacies, online pharmacies, and others. Among these, hospital pharmacies to hold a significant share of the market in 2020. Hospital pharmacies represent one of the most lucrative options for patients for the consumables of drugs. Apart from this, several physicians require the presence of a trained physician and are therefore expected to drive segmental growth.
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Interferons Market Geographical Segmentation Includes:
· North America (United States, Canada, and Rest of North America)
· Europe (Germany, United Kingdom, Spain, Italy, France, and the Rest of Europe)
· Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific)
· Rest of the World
North America constitutes a significant Interferons market due to the increasing R&D activities and frequent product launches. For instance, in August 2021, AstraZeneca’s Saphnelo (anifrolumab-fnia) has been approved in the US for the treatment of adult patients with moderate to severe systemic lupus erythematosus (SLE) who are receiving standard therapy.
The major players targeting the market include
· Roche
· Merck & Co.
· Bristol-Myers Squibb
· Biogen Inc.
· Bayer AG
· Zydus Cadila
· Novartis AG
· Pfizer Inc.
· Biosidus
· Synairgen
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Interferons market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the interferons market?
• Which factors are influencing the interferons market over the forecast period?
• What are the global challenges, threats, and risks in the interferons market?
• Which factors are propelling and restraining the interferons market?
• What are the demanding global regions of the interferons market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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