DUBLIN--(BUSINESS WIRE)--The "Interferons Global Market Report 2020-30: COVID-19 Implications and Growth" report has been added to ResearchAndMarkets.com's offering.
This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider interferons market, and compares it with other markets.
The global interferons market is expected to grow from $6.9 billion in 2019 to about $7.5 billion in 2020 due to an increase in demand for the use of interferons along with antiretrovirals and anti-malerial drugs in the treatment of COVID-19 patients. The market is expected to stabilize and reach $8.1 billion at a CAGR of 4% through 2023. North America was the largest region in the interferons market in 2019.
The pandemic outbreak of coronavirus (COVID-19) is expected to drive the growth of interferons market. This is because of the ongoing trials on various drug candidates including interferons as potential therapeutic options for COVID-19 treatment. Interferon-beta (IFN-beta) is a naturally occurring protein that controls the body's antiviral responses. The drug regulators including the Medicines and Healthcare products Regulatory Agency (MHRA) and Health Research Authority (HRA) have approved the initiation of trials evaluating interferons. For example, SNG001 which is an inhalation formulation of interferon-beta-1a that is delivered to the lungs directly via nebulization.
Global interferon drugs market is projected to grow at a rapid pace in the next few years due to the increasing incidence of chronic diseases such as hepatitis-B, hepatitis-C, cancer and multiple sclerosis, the use of interferons in combinational therapies, and advent of novel drug delivery systems. The use of interferons in combinational therapies, and advent of novel drug delivery systems is expected to drive the market for interferons. Interferons are also being tested for their use in the treatment of COVID-19.
The development of interferons involves high R&D costs. The development of interferons is costlier than developing small molecules which are chemically synthesized, involves high operating costs, and requires a greater capital investment. This is because biologic drugs are more complex than small molecules and involve complex manufacturing processes. Additionally, manufacturers have to submit more data to demonstrate the efficacy and safety of these biologics in pre-clinical and clinical studies for successful registration. This makes the registration of biologics a costly and time-consuming process which is restraining the market growth. Due to the high R&D costs, and lengthy testing and manufacturing process, the marketed drugs would be priced much higher than the actual manufacturing costs, and this factor is likely to challenge the market growth.
Biologics therapy is expensive and it places a substantial financial burden on the healthcare system. Increasing prevalence of diseases such as hepatitis, MS, and cancers in the world presented an opportunity to evaluate the clinical applications of biosimilars and have stimulated some of the local pharmaceutical companies to produce interferon biosimilar medications to compete (or replace) the original expensive brands. IFNs were initially investigated for their potential as antivirals, however, they are now commonly used in anti-HBV (hepatitis B virus) and anti-HCV (hepatitis C virus) therapy. The therapeutic potential of interferon biosimilars for hepatitis and cancer, coupled with the ongoing studies on interferon biosimilars to have prophylactic or therapeutic effectiveness in SARS (severe acute respiratory syndrome), influenza or another virus pandemic, is contributing to the increasing adoption of interferon biosimilars over expensive biologics.
Major players in the interferons market are Roche, Merck, Bristol-Myers Squibb, Biogen Inc, Bayer AG, Zydus Cadila, Novartis AG, Pfizer Inc, Biosidus, and Nanogen.
Report Scope
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the COVID-19 virus and forecasting its growth.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The interferons market section of the report gives context. It compares the interferons market with other segments of the interferons market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, interferons indicators comparison.
Companies Mentioned
- 3SBio
- Amega Biotech
- Bayer AG
- Biogen Inc.
- Biosidus
- Bristol-Myers Squibb
- Merck
- Nanogen
- Novartis AG
- Pfizer Inc.
- PROBIOMED
- Rhein Minapharm Biogenetics
- Roche
- Schering-Plough Corporation
- Zydus Cadila
For more information about this report visit https://www.researchandmarkets.com/r/5sslxe.
