Interferon Beta Drugs Market Size was valued at USD 4.5 Billion in 2023. The interferon beta drugs market industry is projected to grow from USD 4.6 Billion in 2024 to USD 6.2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.30% during the forecast period (2024 - 2032). The market for interferon beta drugs is being driven by market drivers, including the rise in the number of MS patients and the amount of research being done to develop treatments for the disease.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Interferon beta drug demand is forecast to grow worldwide, largely due to an increase in the number of cases of chronic diseases, including leukemia, multiple sclerosis, hepatitis C and B, and cancer. To bring state-of-the-art medications to the market, many large companies are boosting their R&D projects. According to American Cancer Society projections, the number of cases of multiple myeloma in the US is expected to be as follows by 2021: It is also predicted that 19,320 (15,600 in women and 3,700 in women) additional cases will be identified. Besides that, an increase in the number of old population worldwide is expected to fuel the growth of the interferon beta drugs industry. Adults who are at least 60 years old constitute more than 10% of the world population now, and they are expected to reach 20% in the next 26 years. The population of the seniors population is now increasing. The older population is more likely to develop infections than the younger people since their immune systems are weaker. The elderly are more susceptible to an array of infectious diseases, which lead to immune system failure. Eventually, the elderly will require more diagnostic tests regarding infectious diseases. Over the forecast period, it is expected that the interferon beta-based therapies market will grow thanks to the large number of elderly people, which would result in the rise of global demand.
The development and discovery of new approaches to the treatment of interferon beta drugs have significantly expanded the global market. The study on interferon beta-2b experiment was conducted to determine its efficacy in low-grade lymphomatoid granulomatosis, which was revealed in The Lancet Haematology on the 12th of April 2023, which is a widely respected source of knowledge on clinical, public health, and global health areas. Another interesting factor stated in the report was that low-grade disease could be addressed by an immunotherapy-based treatment, unlike chemotherapy and corticosteroid, which had no impact on disease progression. The market for interferon beta drugs may grow all over the world, and more developed countries could be affected by multiple sclerosis and its variants. According to a June 2022 PubMed article, a free online search engine that provides biomedical data, approximately 10% to 15% of MS patients are diagnosed with primary progressive multiple sclerosis (PPMS). Within the borders of the United States, it was estimated that somewhere between 100,000 and 150,000 adults were battling Parkinson's disease by the year 2021. Thus, driving the interferon beta drugs market revenue.
The Interferon Beta Drugs Market segmentation, based on product type, includes Interferon Beta-1A, Interferon Beta-1B, and Peginterferon Beta-1A. In 2023, the Interferon Beta-1A segment dominated the market due to the growing number of product approvals in this market. Adults suffering from different types of multiple sclerosis are treated with intramuscular injections of interferon beta-1a. MS is a neurological illness that causes abnormal nerve function, resulting in weakness, numbness, lack of coordination in the muscles, vision, speech, and bladder control issues.
The Interferon Beta Drugs Market segmentation, based on route of administration, includes Intramuscular, Subcutaneous, and Intravenous. The intramuscular category generated the most income in 2023, which was propelled by elements including enhanced medication delivery technologies and growing knowledge of the effectiveness of intramuscular injection. Furthermore, this development can be attributed to the ease of use and possible reduced cost of intramuscular injections in comparison to alternative administration methods.
Figure 1: Interferon Beta Drugs Market, by Route of Administration, 2023 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Interferon Beta Drugs Market segmentation, based on distribution channel, includes Hospitals Pharmacies, Retail Pharmacies, and Online Pharmacies. The hospitals pharmacies category generated the most income in 2023. The top players' ongoing efforts to offer innovative medications for effective sickness treatment have an impact on market share. Certain medications also need to be administered with the assistance of a trained medical expert. It follows that a hospital setting will likely see an increase in pharmaceutical chemical sales and customer acceptance.
By region, the study provides the market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North American interferon beta drugs market area will dominate this market due to the growth of interferon beta drugs research and development in the field. The rising frequency of cancer and hepatitis in North America is also a major factor boosting the country's growth. Additionally, throughout the projection period, it is expected that the approval of interferon beta drugs, the existence of major competitors, and the rising incidence of multiple sclerosis in the area would propel a considerable expansion in the local interferon beta drugs market.
Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, and South Korea.
Figure 2: INTERFERON BETA DRUGS MARKET SHARE BY REGION 2023 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe interferon beta drugs market accounts for the second-largest market share. The growth in this region is ascribed to the growing number of HCV cases that have been detected due to ongoing research on different pharmacological candidates, such as interferons. Additionally, over the coming years, interferon beta drugs market expansion in Europe is probably going to be driven by rising healthcare spending and the quick development of medical infrastructure. Further, the German interferon beta drugs market held the largest market share, and the UK interferon beta drugs market was the fastest growing market in the European region.
The Asia-Pacific Interferon Beta Drugs Market is expected to grow at the fastest CAGR from 2024 to 2032. Growth is mostly attributable to patients' growing awareness of the availability of cutting-edge therapy choices, such as interferons. The Asia Pacific market is anticipated to be driven by the further development of interferon-gamma release assays that are reasonably priced and useful for screening for latent tuberculosis infection. Moreover, China’s interferon beta drugs market held the largest market share, and the Indian interferon beta drugs market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the interferon beta drugs market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, interferon beta drugs industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global interferon beta drugs industry to benefit clients and increase the market sector. In recent years, the interferon beta drugs industry has offered some of the most significant advantages to medicine. Major players in the interferon beta drugs market are attempting to increase market demand by investing in research and development operations, including A S Biotech, Novartis AG, Apple Pharmaceuticals, Hoffmann-La Roche Ltd, Bayer, Merck KGaA, Mili Healthcare, Biogen Idec., Pfizer Inc, and Rewine Pharmaceutical.
The healthcare firm Novartis AG, also known as Novartis, is dedicated to the research, development, production, and distribution of pharmaceutical products, both brand-name and generic, as well as eye care items. Among other illnesses it treats are cancer, heart disease, skin disorders, neurological problems, ophthalmic and respiratory disorders, hematologic diseases, solid tumors, immune system problems, and infections. Novartis's BioMedical Research branch carries out research in a number of disease areas.
The company Pfizer Inc. (Pfizer) finds, develops, produces, and markets biopharmaceuticals. The company provides products to treat a range of ailments, including women's health, cancer, inflammatory illnesses, immune system problems, cardiovascular, metabolic, and pain disorders. Active pharmaceutical ingredients (APIs), biosimilars, sterile injectable medications, and contract manufacturing services are also offered. Pfizer distributes its goods via pharmacies, government organizations, individual provider offices, hospitals, clinics, and distributors.
December 2022: The international pharmaceutical business Takeda Pharmaceutical Business Limited, situated in Japan, has declared that modakafusp, an investigational novel drug (IND), has demonstrated early promise in treating bone marrow cancer multiple myeloma. A fusion protein called modakafusp targets cells expressing CD38, a surface marker seen on myeloma cells and other immune cells, to release interferon, a pro-inflammatory hormone also used to treat viral infections and other malignancies.
June 2022: The goal of the global strategic partnership and license agreement between Astellas Pharma Inc., a multinational pharmaceutical corporation with headquarters in Japan, and Sutro Biopharma, Inc., a publicly traded biotechnology company, is to find and develop novel immunostimulatory antibody-drug conjugates (iADCs).
December 2021: To enhance digital health for customized therapy in neuroscience, Biogen and TheraPanacea inked a new collaboration agreement.
January 2021: The COVID-19 patients who do not yet need to be hospitalized will be included in the ACTIV-2/A5401 Phase II/III trial utilizing Synairgen plc's inhaled interferon beta-1a therapy (SNG001), according to a clinical trial agreement. One of the National Institutes of Health's (NIH) funding sources is the National Institute of Allergy and Infectious Diseases (NIAID).
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 4.5 Billion |
| Market Size 2024 | USD 4.6 Billion |
| Market Size 2032 | USD 6.2 Billion |
| Compound Annual Growth Rate (CAGR) | 4.30% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2019-2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, Route of Administration, Distribution Channel, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea |
| Key Companies Profiled | A S Biotech, Novartis AG, Apple Pharmaceuticals, Hoffmann-La Roche Ltd, Bayer, Merck KGaA, Mili Healthcare, Biogen Idec., Pfizer Inc., and Rewine Pharmaceutical. |
| Key Market Opportunities | ·        Increasing emphasis on the development of innovative medications |
| Key Market Dynamics | ·        Rising multiple sclerosis prevalence ·        Increasing need for combined treatments |
Frequently Asked Questions (FAQ) :
The Interferon Beta Drugs Market size was valued at USD 4.5 Billion in 2023.
The global market is projected to grow at a CAGR of 4.30% during the forecast period, 2024-2032.
North America had the largest share in the global market.
The key players in the market are A S Biotech, Novartis AG, Apple Pharmaceuticals, Hoffmann-La Roche Ltd, Bayer, Merck KGaA, Mili Healthcare, Biogen Idec., Pfizer Inc, and Rewine Pharmaceutical, among others.
The Interferon Beta-1A category dominated the market in 2023.
The hospital pharmacies category had the largest share in the global market.
Assistant Manager He holds an experience of about 7+ years in market research and business consulting, working under the spectrum of life sciences and healthcare domains. rahul conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. his expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc. in addition to the above, his other responsibility includes strategic tracking of high growth markets & advising clients on the potential areas of focus they could direct their business initiatives
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
