The market for interferon beta drugs is expected to grow at a CAGR of around 3.9% from 2020 to 2027 and expected to reach the market value of around US$ 4,827.6 Mn by 2027.
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). The 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.
The rising prevalence of multiple sclerosis (MS) across the globe is driving the market growth. It’s a disabling disease of the brain and spinal cord (central nervous system), where the immune system attacks on 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. As 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 2020 to 2027.
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 into major stress to develop the vaccine or effective treatment for the people. The major manufacturers in the healthcare sector have 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.
North America is leading the interferon beta drugs market with maximum revenue share
In 2019, the region is gaining potential growth owing to the presence of major players and authorized organization (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, the plegridy can be taken a shot just under the in 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.
Key Market Players
The players 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.
Market By Product Type
Market By Source of Administration
Market By End User
Market By Geography
Middle East & Africa
The market for interferon beta drugs is expected to reach a market value of around US$ 4,827.6 Mn by 2027.
The interferon beta drugs market is expected to grow at a CAGR of around 3.9% from 2020 to 2027.
Intravenous, Subcutaneous, and Intramuscular are the segments by source of administration in the interferon beta drugs market
Interferon Beta-1A, Interferon Beta-1B, and Peginterferon Beta-1A are the segments by product type in the interferon beta drugs market
The rising prevalence of the multiple sclerosis (MS) across the globe, increasing number of chain smokers, and obese people, and potential factors associated with the interferon beta drugs like, it can slow down the worsening of disease and simultaneously decrease the symptoms are some of the factors driving the market growth.
A S Biotech, Apple Pharmaceuticals, Bayer, Biogen Idec., Hoffmann-La Roche Ltd, Merck KGaA, Mili Healthcare, Novartis AG, Pfizer Inc, and Rewine Pharmaceutical are the prominent players in the interferon beta drugs market.
North America held the highest market share in the interferon beta drugs market