Interferons Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Interferons Market Analysis

The interferons market is expected to register a CAGR of 5.7% over the forecast period.

• COVID-19 had a significant impact on the interferon market owing to the use of interferons for treating COVID-19 infection. For instance, a study published in September 2021 in the Journal of Medical Virology stated that interferon-alpha, in combination with ribavirin and polyethylene glycol molecule, has shown significant anti-viral properties without adverse reactions for treating COVID-19. The clinical trial studies regarding the development of interferons also contributed to the market growth during the later phase of the pandemic. For instance, in November 2021, BetterLife Pharma Inc. subsidiary, Altum Pharmaceuticals Inc., and Pontificia Universidad Católica de Chile successfully completed the Phase 1 portion of Phase 1-2 randomized placebo-controlled trial (IN2COVID) in COVID-19 patients with better life's proprietary inhaled interferon alpha-2b product, AP-003. Therefore, the research studies on COVID-19 patients to assess the interferon intervention compensated for the market growth in the later phase of the pandemic. Currently, the market is gaining attention with innovative product launches for new COVID-19 variants and is expected to register a stable growth rate during the forecast period.
• In addition, the increasing prevalence of diseases such as hepatitis, multiple sclerosis, and cancers and the high target affinity and specificity of interferons are actively affecting the growth of the studied market.
• The interferon drugs market is projected to grow at a rapid pace in the forecast years due to the rising prevalence of chronic diseases such as hepatitis B, hepatitis C, cancer, and multiple sclerosis. For instance, according to data published by the American Academy of Pediatrics, in March 2022, more than 1 million people in the United States have long-term hepatitis B infections, and people who are infected with hepatitis B as a baby have a 90% chance of developing serious, chronic conditions like liver cancer in their lifetime. With the use of interferons as combination therapies and the advent of New Drug Delivery Systems (NDDS), the combination of Interferons with other drugs can be greatly enhanced and used in the treatment of hepatitis C, hepatitis B, cancer, and multiple sclerosis (MS). Therefore, the high burden of hepatitis B is expected to increase the demand for interferon for treating it, therefore driving the growth of the market.
• Similarly, according to data published by the World Health Organization (WHO) in July 2021, an estimated 58 million people have chronic hepatitis C virus infection, and about 1.5 million new infections occur annually. According to the same source, the hepatitis C virus is a blood-borne pathogen, and the most common form of infection is exposure to small amounts of blood. Further, as per the April 2022 report of the WHO, 11 countries in the WHO European Region and one country in the WHO Region of the Americas have reported a total of 169 cases of acute hepatitis of unknown origin as of 21st April 2022, which raises concern about the disease and hence, the demand for interferons is expected to increase, thereby fuelling growth in the market.
• The high burden of multiple sclerosis (MS) is expected to create an opportunity for the development of interferon-beta, which is expected to propel market growth. For instance, according to data published by Multiple Sclerosis Trust (MST), in September 2021, approximately 2,500,000 people in the world had multiple sclerosis (MS). Various market players are engaged in strategic initiatives such as product launches, approvals, and partnerships that are also contributing to market growth. For instance, in February 2021, Biogen Inc. received the United States FDA approval for a new intramuscular (IM) injection route of administration for PLEGRIDY (peginterferon beta-1a) for the treatment of relapsing forms of multiple sclerosis (MS). Thus, innovative launches to create more treatment options for MS market players are anticipated to propel market growth.
• Therefore, owing to the aforementioned factors, such as the high prevalence of chronic diseases like hepatitis and cancer along with product approvals, the studied market is anticipated to witness growth over the analysis period. However, the high research and development costs are likely to impede market growth.

Interferons Market Trends

Leukemia Segment is Expected to Hold a Significant Market Share Over The Forecast Period

Interferons Industry Segmentation

Interferons are segmented as a class of proteins generated and released by the host cells against the presence of pathogenic microbes like bacteria, viruses, fungi, and tumor cells. Interferon proteins belong to a class of glycoproteins, namely cytokines, and are generally considered to be the first line of defense against any microbial infections.

The interferons market is segmented by product type (interferon alpha, interferon beta, interferon gamma), application (hepatitis B, hepatitis C, melanoma, leukemia, multiple sclerosis, renal cell carcinoma), and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally.

The report offers the value (in USD) for the above segments.