Wilmington, Delaware, United States, Transparency Market Research Inc.: The global interferon market is expected to witness strong growth during the forecast period between 2021 and 2031.
Wilmington, Delaware, United States, Transparency Market Research Inc.: The global interferon market is expected to witness strong growth during the forecast period between 2021 and 2031.
Interferons are a group of proteins produced by the immune system as a response against tumor cells, viral infections, and other pathogens.
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Interferons help to fight against infections by triggering an immune response with the help of immunologic cells such as T-cells, microphages, and natural killer cells.
Interferons do not destroy cancer cells, but reduce the pace of their growth and later improve the immune system response, inside the human body. Some of the disorders that are cured using interferons include hepatitis and multiple sclerosis.
Some of the commonly-used interferons include Cinnovex, Actimmune, Pegasys, and Betaseron.
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Interferon Market - Trends and Opportunities
- Rising prevalence of chronic diseases such as diabetes, hepatitis B, and hepatitis C is the key growth driver for the global interferon market.
- In addition to this, interferons have shown an ability to reproduce virus genomes and protect body cells from viral infections. This aspect of them is expected to fuel product demand in the coming years.
- Interferons have also been deployed in antiviral activities such as cell growth inhibition, immunoregulatory activities, and anti-angiogenic activities, which has helped in the growth of the overall interferon market.
- Government initiatives and measures such as funding to market players to conduct research and development activities to produce improved quality of products could bolster the interferon market, in the upcoming years.
- Innovations to products could help increase interferon demand at different healthcare infrastructure facilities, globally.
- Interferon beta drugs product segment is expected to contribute the most to the overall interferon market owing to increased product demand for multiple sclerosis treatment, globally.
- The hospital end-use segment is expected to contribute the most to the overall interferon market due to the increased product deployment to cure different disorders.
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Interferon Market - Competitive Landscape
- The global interferon market has very few players, many of whom are expected to engage in different growth strategies such as novel product launches in a bid to remain competitive in the overall market.
- Leading players in the global interferon market are expected to focus on research and development activities in a bid to produce improved quality of products, which would meet the customer requirements and increase the customer base.
- Prominent players could also establish R&D centers in different parts of the world which would function exclusively to produce improved quality of products.
- The smaller players in the global interferon market will seek investments from governments and private investors, which would help them in their long-term growth.
- Some of the established players in the global interferon market include Biogen Inc., Merck & Co Inc., Bayer AG, Zydus, and Amerga Biotech.
In April 2021, Zydus was given emergency use approval by the Drugs Controllers General of India for the use of ‘Pegylated Interferon alpha-2B’ for treating COVID-19 patients.
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Interferon Market - Regional Assessment
- The global interferon market is classified into five regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
- North America is expected to be the leader in the global interferon market owing to factors such as rise in healthcare investments and the increase in awareness about advanced treatment among patients in countries such as the U.S and Canada.
- Asia Pacific is expected to provide lucrative growth opportunities for the global interferon market owing to increasing adoption of interferon therapy in countries such as India and Japan and growth in the patient population in these countries.
- Europe is expected to witness substantial growth in the interferon market in the upcoming years owing to the presence of several well-established players in countries such as UK and Germany.
- Other regions of the world such as Latin America and Middle East and Africa are expected to witness moderate growth in the interferon market.
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