The Global Interferon Beta Drugs Market Size accounted for USD 4.0 Billion in 2021 and is estimated to garner a market size of USD 5.5 Billion by 2030 rising at a CAGR of 3.9% from 2022 to 2030. Increasing multiple sclerosis is the primary factor boosting the interferon beta drugs market share during the projected timeframe. Rising R&D in MS drugs is a popular interferon beta drugs market trend that is driving the industry forward. The five major classes of interferon beta drugs that can be administered subcutaneously, intravenously, or intramuscularly are Avonex, Extavia, Betaseron, Plegridy, and Rebif.
Interferon Beta Drugs Market Report Key Highlights
The human body naturally forms three forms of interferons including alpha, beta, and gamma that control the activity of the immune system. Moreover, doctors use an artificial or manmade version of these interferons especially beta interferons to treat Multiple Sclerosis (MS). Interferon-beta (IFNβ) medications help to lessen the worsening of the disease and can also stabilize the course of the disease. Additionally, the medication can also slow down the process of having physical disability over time. These can be administered in the body with the procedures like intravenous, subcutaneous, and intramuscular.
Global Interferon Beta Drugs Market Dynamics
Interferon Beta Drugs Market Report Coverage
|Interferon Beta Drugs Market
|Interferon Beta Drugs Market Size 2021
|USD 4 Billion
|Interferon Beta Drugs Market Forecast 2030
|USD 5.5 Billion
|Interferon Beta Drugs Market CAGR During 2022 - 2030
|Interferon Beta Drugs Market Analysis Period
|2018 - 2030
|Interferon Beta Drugs Market Base Year
|Interferon Beta Drugs Market Forecast Data
|2022 - 2030
|By Product Type, By Source of Administration, By End-User, And By Geography
|North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
|Key Companies Profiled
|A S Biotech, Apple Pharmaceuticals, Bayer, Biogen Idec., Hoffmann-La Roche Ltd, Merck KGaA, Mili Healthcare, Novartis AG, Pfizer Inc, and Rewine Pharmaceutical.
|Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis
Interferon Beta Drugs Market Insights
The rising prevalence of multiple sclerosis (MS) across the globe is driving market growth. It’s a disabling disease of the brain and spinal cord (central nervous system), where the immune system attacks the protective sheath (myelin) that covers nerve fibers and causes communication problems between the brain and the rest of your body. According to several studies, some of the major factors responsible for developing MS include low vitamin D levels in the blood is a risk factor for the development of MS, smoking increases a person’s risk of developing MS, and obesity in childhood and adolescence, particularly in girls, increased the risk of later developing MS. In turn, an increasing number of chain smokers, and obese people are expected to support the demand for interferon beta drugs in the market. Additionally, the potential factors associated with the interferon beta drugs like, it can slow down the worsening of the disease and simultaneously decrease the symptoms, and can be used in combination therapies for the treatment of multiple sclerosis are further bolstering the market growth.
In contrast, the side effects of interferon-beta drugs such as fatigue, sweating, chills, muscle aches, and fever as well as redness, swelling, and pain during the initial treatment procedure are some of the factors likely to limit the growth over the forecast period from 2022 to 2030.
Covid-19 Impact on Interferon Beta Drugs Market
The global pandemic which has got its birth in China has badly affected people across the globe. Countries have announced nationwide lockdowns in order to combat the increasing number of cases of coronavirus. The pharmaceutical industry across the globe has seen major changes owing to the increasing burden of patients with coronavirus. The industry has come under major stress to develop vaccines or effective treatments for people. The major manufacturers in the healthcare sector have been involved in R&D for the development of vaccines. For instance, Synairgen plc has announced in January 2021 that the first patient has been dosed in the UK as a part of a global Phase III trial evaluating the inhaled formulation of interferon beta-1a (SNG001), for the treatment of hospitalized COVID-19 patients.
Interferon Beta Drugs Market Segmentation
The worldwide interferon beta drugs market is split based on product type, source of administration, end-user, and geography.
Interferon Beta Drugs Market By Product Type
According to our interferon beta drugs industry analysis, interferon beta-1A accounted for a significant market revenue in 2021. Interferon beta-1a intramuscular injection is used to treat adults with various forms of multiple sclerosis. MS; a disease in which the nerves do not function properly and people may experience weakness, numbness, loss of muscle coordination, and problems with vision, speech, and bladder control.
Interferon Beta Drugs Market By Source of Administration
By source of administration segment, intravenous acquired a considerable market share in 2021 and is likely to do so in the coming years. Subcutaneous would generate an impressive market share during the forecast timeframe from 2022 to 2030. However, intramuscular is expected to attain substantial market growth in the coming years.
Interferon Beta Drugs Market By End-User
The hospitals' pharmacies sub-segment earned the highest revenue in 2021 and will continue to do so in the future years, according to our interferon beta drugs market forecast. Retail pharmacies are also accounting for a significant share from 2022 to 2030. On the other hand, online pharmacies are likely to attain the fastest growth rate in the coming future.
Interferon Beta Drugs Market Regional Outlook
The Middle East & Africa (MEA)
North America is leading the interferon beta drugs market with maximum revenue share
In 2021, the region is gaining potential growth owing to the presence of major players and authorized organizations (FDA) in the region. The 5 types of interferon beta got approval in the US market by the FDA, which include Interferon Beta-1A (Avonex, Rebif), interferon beta-1b (Betaseron, Extavia), and peginterferon beta-1a (Plegridy). Avonex can be taken once a week as a shot into the muscle. The people who start taking it at an early stage of multiple sclerosis may be able to go longer before any physical disabilities begin or get worse. Rebif is taken three times a week as a shot under the skin. Betaseron and Extavia are taken as a shot that goes just under the skin every other day. Additionally, pleurisy can be taken a shot just under the skin every 2 weeks as it lasts longer in the body. The early presence of these interferon beta drugs in the region is primarily contributing to its dominating share in the market.
Interferon Beta Drugs Market Players
The interferon beta drugs companies profiled in the report include A S Biotech, Apple Pharmaceuticals, Bayer, Biogen Idec., Hoffmann-La Roche Ltd, Merck KGaA, Mili Healthcare, Novartis AG, Pfizer Inc, and Rewine Pharmaceutical among others.
The market size of interferon beta drugs market in 2021 was accounted to be USD 4 Billion.
The projected CAGR of interferon beta drugs market during the analysis period of 2022 to 2030 is 3.9%.
The prominent players of the global interferon beta drugs market are A S Biotech, Apple Pharmaceuticals, Bayer, Biogen Idec., Hoffmann-La Roche Ltd, Merck KGaA, Mili Healthcare, Novartis AG, Pfizer Inc, and Rewine Pharmaceutical.
North America held the dominating interferon beta drugs during the analysis period of 2022 to 2030.
Asia-Pacific region exhibited fastest growing CAGR for interferon beta drugs during the analysis period of 2022 to 2030.
Rising prevalence of multiple sclerosis, increasing research & development activities, and surging demand in combination therapies drives the growth of global interferon beta drugs market.
Based on product type, interferon beta-1A segment is expected to hold the maximum share interferon beta drugs market.