The global interferons market is set to reach a valuation of USD 9.4 Billion in 2022, and further expand at a CAGR of 3.9% in the forecast period from 2022 to 2032. The global market is anticipated to reach USD 13.8 Billion by the end of 2032.
| Attribute | Key Statistics |
|---|---|
| Global Interferons Market Estimated Size (2021E) | USD 9.1 Billion |
| Projected Market Valuation (2032F) | USD 13.8 Billion |
| Value-based CAGR (2022 to 2032) | 3.9% |
| Collective Value Share: Top 5 Countries (2021E) | 58.2% |
The interferons industry held approximately 5.0% of the global immunotherapy drugs market in 2021, which is worth USD 181.8 Billion.
The interferon market is expected to grow steadily as the prevalence of multiple sclerosis (MS) is increasing worldwide. According to the Multiple Sclerosis Trust (MST) data published in 2020, an estimated 2,500,000 individuals worldwide suffer from multiple sclerosis.
The organization further states that the number of women diagnosed with multiple sclerosis is increasing by 2 to 3 people every year. The prevalence of multiple sclerosis varies in various parts of the world.
According to MST, equatorial regions of Asia, Africa, and America have a low prevalence of multiple sclerosis, while Canada and Scotland have a high prevalence. These trends are projected to continue throughout the forecast period owing to a combination of environmental and genetic factors, thereby pushing demand for interferon-beta solutions.
The ongoing development of novel interferon beta is another vital factor that is expected to aid growth. Biogen Inc., for instance, obtained FDA approval in February 2021 for a novel intramuscular (IM) injectable route of administration for PLEGRIDY, which is a drug used to treat relapse forms of multiple sclerosis.
Relapsing multiple sclerosis patients receiving PLEGRIDY intramuscularly, are set to benefit from the drug's well-known efficacy and safety, as well as the potential of significantly reduced injection site hypersensitivity.
Such fast-track approvals by government organizations are likely to enhance the product offerings of key players and push sales of interferons in the market during the forecast period of 2022 to 2032.
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Interferon-beta is a naturally occurring protein that regulates the body's antiviral responses. The rising number of approvals of interferon-beta by organizations such as the Medicines and Healthcare Products Regulatory Agency (MHRA) and the Health Research Authority (HRA) is anticipated to spur growth. SNG001, for instance, is an interferon-beta-1a inhalation formulation that is nebulized directly into the lungs.
In addition, the increasing prevalence of various chronic diseases such as hepatitis B, hepatitis C, cancer, and multiple sclerosis in both developed and developing countries is expected to augment the market. More than fifteen human interferons are already available in the market and the number is expected to rise in the upcoming decade.
Owing to the aforementioned factors, the global interferons market is set to grow at a CAGR of 3.9% from 2022 to 2032.
As therapy with biologics is expensive, it is imposing significant financial pressure on the healthcare system globally. The increasing prevalence of cancer, hepatitis, and multiple sclerosis is creating a new opportunity for key players to assess biosimilar clinical applications.
On account of this, several pharmaceutical companies are developing interferon biosimilar medications to compete with or replace the original products, as well as more expensive brands. Increasing investments in Research and Development and ongoing advancements in technology are some of the other factors contributing to growth in the global interferons market.
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The development process of interferons is more expensive than chemically-derived small molecules. Also, it involves higher operating costs and requires a larger capital investment. It is attributed to the need for premium-quality manufacturing techniques as biological medications are more complicated than small molecules.
Companies must submit in-depth information to prove the safety and effectiveness of biologics in pre-clinical and clinical studies in order to get approvals. Consequently, biologics licensing is a high cost incurring and time-consuming process, which may hamper growth.
Due to significant Research and Development costs and a lengthy testing and manufacturing process, marketed pharmaceuticals would be priced far higher than actual manufacturing costs. Therefore, demand for interferons may decline during the forecast period from 2022 to 2032.
High Prevalence of Cancer to Push Growth in the USA
The USA rules the North American interferons market and it generated a share of about 92.8% in 2021. The rising prevalence of cancer and hepatitis in the USA is one of the most significant factors that would foster growth in the country.
As per the Centers for Disease Control and Prevention (CDC), nearly 1,752,735 new cancer cases were reported in the USA in 2019 and about 599,589 people died of the disease in the same year. Thus, rising government support to healthcare facilities in terms of funding is expected to propel Research and Development activities in the USA for the launch of unique interferons.
Rapid Acceptance of Human Interferons to Augment Growth
The United Kingdom is set to exhibit a CAGR of nearly 3.9% in the Europe interferons market during the forecast period. Government initiatives to increase healthcare expenditure and acceptance of interferon therapy in the country are likely to boost the market during the evaluation period from 2022 to 2032.
Ongoing Trials to Develop Interferon Biosimilar Medications to Aid Growth
China held nearly 43.4% share in the East Asia interferons market in 2021 and is projected to grow at a CAGR of 4.0% during the forecast period. Growth is attributed to the increasing number of HCV cases in the country, which have been identified as a result of ongoing trials on various pharmacological candidates, including interferons.
Growing healthcare expenditure and rapid development of medical infrastructure are likely to propel market expansion in China over the next few years.
Manufacturers Are Developing Nebulized Products for TB Screening
India generated around 45.3% of the share in the South Asia interferons market in 2021 and is projected to showcase a CAGR of 4.1% during the forecast period. Growth is primarily attributed to surging awareness of the availability of advanced treatment options, including interferons among patients.
The ongoing development of relatively low-cost interferon-gamma release assays for latent tuberculosis infection screening is expected to drive the Indian market. These assays are set to be widely adopted in low- and middle-income parts of India.
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Interferon-Beta to Gain Impetus with Usage in Multiple Sclerosis Treatment
By product, the interferon beta segment held a share of around 47.2% in 2021 in the global interferons market. Interferon beta therapy is widely adopted for indications and management of multiple sclerosis, which would propel its demand. Also, such therapies have proven to be effective in the management of the disease.
Patients of Multiple Sclerosis to Opt for Orally Administered Drugs
Based on indication, the multiple sclerosis segment held nearly 35.0% of the global interferons market share in 2021 and is expected to remain at the forefront throughout the forthcoming years. Rapid advancements in novel orally administered drugs approved for the treatment of multiple sclerosis are set to create new growth opportunities for key players in the market.
Hospital Pharmacies to Push Demand for Biologics
In terms of end use, the hospital pharmacies segment generated around 43.5% of the global interferons market share in 2021. Hospital pharmacies are considered to be the most lucrative segment in terms of dispensing prescribed medications and consumables to patients.
Several medicinal administrations require the presence of a trained physician. Therefore, a hospital setting is expected to gain traction in terms of sales and adoption of medicinal compounds by consumers.
Key players in the global interferons market are focusing on collaborations, geographic expansions, and improvement of their product offerings to gain a competitive edge. These strategies will help market players to enhance product portfolios and strengthen their presence worldwide.
Given below are a few examples of key industry developments by renowned manufacturers:
| Attribute | Details |
|---|---|
| Estimated Market Size (2021) | USD 9.1 Billion |
| Projected Market Valuation (2032) | USD 13.8 Billion |
| Value-based CAGR (2022 to 2032) | 3.9% |
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America; Latin America; Europe; South Asia; East Asia; Oceania; and the Middle East & Africa |
| Key Countries Covered | USA, Canada, Brazil, Mexico, Argentina, Germany, Italy, France, United Kingdom, Spain, BENELUX, Russia, China, Japan, South Korea, India, Thailand, Malaysia, Indonesia, Australia, New Zealand, GCC countries, Turkey, South Africa, and North Africa. |
| Key Market Segments Covered | Product, Indication, End User, and Region |
| Key Companies Profiled | Roche; Merck & Co.; Bristol-Myers Squibb; Biogen Inc.; Bayer AG; Zydus Cadila; Novartis AG; Pfizer Inc.; Biosidus; Synairgen; Nanogen; Amega Biotech; Rhein Minapharm Biogenetics; PROBIOMED; Schering-Plough Corporation; 3Sbio; F. Hoffmann La-Roche Ltd. |
The global interferons market was worth USD 9.1 Billion in 2021 and is set to expand 1.5X over the next ten years.
The interferons market is expected to reach USD 13.8 Billion by the end of 2032 and register a 3.9% CAGR from 2022 to 2032.
The increasing focus of companies on the development of novel interferon beta and ongoing Research and Development investments are some of the key trends shaping the interferons industry.
The USA, Germany, the United Kingdom, China, and Japan are the top 5 countries expected to drive demand for interferons.
The USA accounted for nearly 92.8% of the North American interferons market in 2021.
The Europe interferons market is expected to register growth at a CAGR of 3.7% over the next ten years.
The USA, Germany, and Japan are key producers of interferon products.
Roche, Merck & Co., Bristol-Myers Squibb, Biogen Inc., Bayer AG, Zydus Cadila, Novartis AG, Pfizer Inc., Biosidus, Synairgen, Nanogen, and Amega Biotech are the key companies in the interferons market.
1. Executive Summary 2. Market Overview 3. Key Market Trends 4. Key Success Factors 5. Market Background 6. Global Market Demand (in Value or Size in USD Billion) Analysis 2017 to 2021 and Forecast, 2022 to 2032 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Product 7.1. Interferon Gamma 7.2. Interferon Beta 7.3. Interferon Alpha 8. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Indication 8.1. Multiple Sclerosis 8.2. Polycythemia Vera 8.3. Hepatitis C 8.4. Melanoma 8.5. Chronic Granulomatous Disease (CGD) 8.6. Other Indications 9. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by End User 9.1. Hospital Pharmacies 9.2. Retail Pharmacies 9.3. Specialty Clinics 9.4. Online Pharmacies 10. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, by Region 10.1. North America 10.2. Latin America 10.3. Europe 10.4. East Asia 10.5. South Asia 10.6. Oceania 10.7. Middle East and Africa 11. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 12. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032 13. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032 14. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032 15. South Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032 16. Oceania Market 2017 to 2021 and Forecast 2022 to 2032 17. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032 18. Market Structure Analysis 19. Competition Analysis 19.1. F. Hoffmann-La Roche Ltd 19.2. Merck KGaA 19.3. Bayer AG 19.4. Biogen 19.5. GenSci 19.6. Sinovac 19.7. BioLegend 19.8. Invitrogen 19.9. OriGene 19.10. Biorbyt 19.11. Qilu Pharmaceutical 19.12. Shijiazhuang Pharmaceutical 19.13. Amgen Inc 19.14. Johnson & Johnson 19.15. Kyowa Hakko Kirin 19.16. Bristol-Myers Squibb 19.17. Zydus Cadila 19.18. Novartis AG 19.19. Pfizer Inc 19.20. Amega Biotech 19.21. 3Sbio 19.22. Biosidus 19.23. Nanogen 20. Assumptions and Acronyms Used 21. Research Methodology
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Interferons Market
