Rockville, Feb. 27, 2023 (GLOBE NEWSWIRE) -- As per this new industry analysis by Fact.MR, a market research and competitive intelligence provider, the valuation of the global beta interferon market stands at US$ 3.6 billion in 2023, with the market predicted to expand at a CAGR of 3% from 2023 to 2033.
Beta interferon therapy has been the first line of treatment for multiple sclerosis (MS), a persistent neurodegenerative condition brought on by the body's autoimmune attack on the sheath that covers nerves. Myelin is the name of this component, and demyelinating disorders are conditions that result in the degeneration of the myelin sheath.
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Several key players in the beta interferon market are developing advanced drugs to treat MS and earn more revenue. Also, the rising prevalence of cancer and infectious disorders such as hepatitis is boosting the sales of beta interferon drugs.
North America currently dominates the global market due to the presence of key market players and the rising cases of cancer. Demand for beta interferon drugs is rising in Europe due to the rapidly developing biopharma industry and the availability of well-established healthcare systems.
Key Takeaways from Market Study
- The global beta interferon market is projected to reach a value of US$ 4.8 billion by 2033.
- Germany’s market for beta interferon is predicted to expand at a CAGR of 2.5% during the forecast period.
- Demand for beta interferon drugs in China is estimated to rise at a CAGR of 5% over the next 10 years.
- Sales of beta interferon drugs in Japan are predicted to increase at a CAGR of 2% from 2023 to 2033.
Competitive Landscape
Key players in the beta interferon market are focusing on producing advanced drugs to meet end users' needs and earn more profits. Also, they are adopting organic and inorganic marketing tactics such as partnerships, mergers, and regional expansion by enhancing local supply, changing pricing trends, etc.
Fact.MR, a market research and competitive intelligence provider, reveals key marketing strategies of leading companies in the beta interferon market in its latest report.
- Based on its most recent interactions with the United States Food and Drug Administration, in September 2022, Eiger BioPharmaceuticals, Inc. gave an update on the status of its intended request for an emergency-use approval of peginterferon lambda for the treatment of individuals with mild-to-moderate coronavirus.
Key Companies Profiled
- Xiamen Amoytop Biotech Co
- Changchun Institute of Biological Products
- Hainan Unipul Pharmaceutical
- Kawin
- Kexing Biopharm
- Merck
- Roche
- Sinopharm
- SP (Brinny) Company
- Bristol-Myers Squibb
- Biogen Inc.
- Bayer AG
- Zydus Cadila
- Novartis AG
- Pfizer Inc.
- Tri-Prime Gene
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Winning Strategy
Leading market players are implementing various marketing tactics, including mergers, acquisitions, collaborations, and new product launches to maintain their market position and increase sales of beta interferon drugs.
- Rebif® (interferon beta-1a) is an effective medication for relapse multiple sclerosis (RMS) that has a solid safety record and demonstrated efficacy.
Key Segments of Beta Interferon Industry Research
- By Type:
- Interferon Beta-1A
- Interferon Beta-1B
- Peginterferon Beta-1A
- By Route of Administration:
- Intramuscular
- Subcutaneous
- Intravenous
- By Distribution Channel:
- Hospital Pharmacies
- Retail Pharmacies
- Online Pharmacies
- By Disease:
- Multiple Sclerosis
- Hepatitis C
- Cancer
- By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- MEA
Key Questions Covered in the Beta Interferon Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will sales in the global Beta Interferon Market grow until 2033?
- Which are the factors hampering the Beta Interferon market?
- Which region will spearhead the growth in the global industry during 2023-2033?
- Which are the factors driving sales in the Beta Interferon Market during the forecast period?
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global beta interferon market, presenting historical demand data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study divulges essential insights into the market on the basis of type (interferon beta-1A, interferon beta-1B, peginterferon beta-1A), route of administration (intramuscular, subcutaneous, intravenous), distribution channel (hospital pharmacies, retail pharmacies, online pharmacies), and disease (multiple sclerosis, hepatitis C, cancer), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
Check out more related studies published by Fact.MR Research:
Recombinant Human Interferon Protein Market: The global market for recombinant human interferon protein is expected to witness steady growth over the forecast period due to rise of molecular biology in most of the disease applications. The growth of the market is related to the rising number of cancer cases, which is mostly observed in cases of growth defect.
Intravenous Equipment Market: The global intravenous equipment market is valued at US$ 12.3 billion and is forecasted to expand at a CAGR of 5.6% to reach US$ 16.1 billion by 2027. Sales of securement devices are anticipated to increase faster at a CAGR of 6.6% during the next five years as governments across nations are promoting the use of these devices.
Subcutaneous Biologics Market: Subcutaneous biologics are the most advanced therapeutics used for the treatment of several diseases like cancer, diabetes, multiple sclerosis, psoriasis and many more. Subcutaneous biologics are injected/infused so as the proteins are not digested or inactivated early.
Subcutaneous Injection Ports Market: Subcutaneous injection ports have witnessed significant momentum, owing to their key benefits such as reducing the number of needle sticks required in blood samples, nutrition, fluids, and medication. Subcutaneous injection ports have also witnessed increased acceptance among healthcare professionals as they ebb the irritation in blood vessels caused by some medicines.
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