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Interferons Global Market is Booming Across the Globe and Witness Huge Growth By Key Players To 2033 | The Business Research Company
Interferons Global Market
The interferons market size is expected to see steadily grown in the next few years. It will grow to $11.98 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to immunotherapy advancements, precision medicine, viral outbreak preparedness, drug combinations, gene therapy. Major trends in the forecast period include expanding applications, biopharmaceutical innovation, interferon combinations, personalized medicine.
Market Overview -
Interferons refer to a natural substance that supports the body's immune system in the battle against illness, including cancer. White blood cells and other cells in the body produce interferons, but they can also be produced in a lab for use in treating various disorders.
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Elevated Incidence Of Cancer Propels Growth In The Interferon Market
The rise in cancer is expected to boost the growth of the interferon market going forward. Cancer is a group of diseases characterized by the development of abnormal cells that divide uncontrollably and have the ability to spread to other parts of the body. Interferons are used in the treatment of various types of cancer, including melanoma, Kaposi's sarcoma, and certain leukemias. They are often included in combination therapies, helping to boost the body's immune response against cancer cells. For instance, in January 2022, according to a report published by the American Cancer Society, a US-based health organization, in the US, 609,360 cancer deaths and 1.9 million new cancer cases are anticipated in 2022. There are expected to be 10,470 pediatric cancer cases in 2022. Additionally, 5,480 teenagers are anticipated to have cancer diagnoses in 2022. Therefore, the rise in cancer is driving the growth of the interferon market.
Competitive Landscape -
Major companies operating in the interferons market include Roche Holding AG, Merck & Co. Inc., Bristol-Myers Squibb Company, Biogen Inc., Bayer AG, Zydus Cadila Health Care Limited, Novartis AG, Pfizer Inc., Biosidus S.A., Nanogen Biopharmaceutical Co. Ltd., Amega Biotech Inc., Rhein Minapharm Biogenetics S.A.E., PROBIOMED S.A. de C.V., Schering-Plough Corporation, 3SBio Inc., AbbVie Inc., Celgene Corporation, Eli Lilly and Company, F. Hoffmann-La Roche Ltd., Genentech Inc., GlaxoSmithKline plc, Johnson & Johnson, Novo Nordisk A/S, Sanofi S.A., Shire plc, Takeda Pharmaceutical Company Limited, Teva Pharmaceutical Industries Ltd., Biocad, Cipla Limited, Dr. Reddy's Laboratories Ltd., Hetero Drugs Limited
Rising Adoption Of Interferon Biosimilars
Biologics therapy is expensive and it places a substantial financial burden on the healthcare system. The increasing prevalence of diseases such as hepatitis, MS, and cancers in the world presented an opportunity to evaluate the clinical applications of biosimilars and has stimulated some of the local pharmaceutical companies to produce interferon biosimilar medications to compete (or replace) the original expensive brands. IFNs were initially investigated for their potential as antivirals, however, they are now commonly used in anti-HBV (hepatitis B virus) and anti-HCV (hepatitis C virus) therapy. The therapeutic potential of interferon biosimilars for hepatitis and cancer, coupled with the ongoing studies on interferon biosimilars to have prophylactic or therapeutic effectiveness in SARS (severe acute respiratory syndrome), influenza, or another virus pandemic, is contributing to the increasing adoption of interferon biosimilars over expensive biologics.
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Key Segments -
The interferons market covered in this report is segmented -
1) By Type: Inteferon Alpha, Inteferon Beta, Inteferon Gamma
2) By Application: Hepatitis B, Hepatitis C, Melanoma, Leukemia, Multiple Sclerosis, Renal Cell Carcinoma
3) By Distribution Channel: Hospital Pharmacies, Online Pharmacies, Retail Pharmacies, Other Distribution Channels
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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