Interferons Global Market 2024 - Top Companies, Industry Analysis, Growth Statistics And Outlook By 2033

The Business Research Company recently released a comprehensive report on the Global Interferons Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The interferons market size has grown steadily in recent years. It will grow from $9.17 billion in 2023 to $9.54 billion in 2024 at a compound annual growth rate (CAGR) of 4.0%. The growth in the historic period can be attributed to viral infections, antiviral therapies, cancer treatment, autoimmune diseases.

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.

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Market Drivers and Trends:

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.

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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Major Key Players of the Market:

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

Interferons Market 2024 Key Insights:

• The interferons market size will grow to $11.98 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%.
• Elevated Incidence Of Cancer Propels Growth In The Interferon Market
• Rising Adoption Of Interferon Biosimilars
• North America was the largest region in the interferons market in 2023

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