Interferons are a class of proteins produced by the immune system (white blood cells, fibroblasts, or T-cells) as a response against viral infections, bacteria, tumor cells, and other pathogens. These glycoproteins are also known as cytokines and often called first line defenders against microbial infections. These proteins fight against infections by activating an immune response, generating immunologic cells such as natural killer cells, microphages, and T-cells. Interferons have proven to be advanced and effective treatment for chronic diseases such as cancer, hepatitis, multiple sclerosis, and others. Interferons do not kill the cancer cells directly, instead these slow down their growth, later resulting in boosting the immune system response. Interferons are classified into two types; type 1 interferon consists of alfa interferon, and beta interferon which are produced by white blood cells and fibroblasts. Type 2 interferon consists of gamma interferon produced by T-cells. With recombinant DNA technology in place, large amount of interferons are manufactured and used as drugs to treat various types of chronic diseases. Interferon drugs are popular as advanced therapy to treat cancer, hepatitis, multiple sclerosis, and others diseases. These recombinant interferons are administered subcutaneously or intramuscularly to patients. Various recombinant alpha, beta, and gamma interferons are available under the following brand names: Roferon (Alpha-2a), Intron-A (Alpha-2b), Wellferon (Alpha-n1), Alferon-N (Alpha-n3), Infergen (Alpha-con-1), Avonex (Beta-1a), Betaseron (Beta-1b), and Acimmune (Gamma-1b).
The global interferon drugs market is projected to grow at a rapid pace in the next few years because of advanced method of treatment. Increase in incidence of chronic diseases such as hepatitis-B, hepatitis-C, cancer, multiple sclerosis, and others drives the global interferon drugs market. Currently, over 15 human interferons are available in the market and the number is expected to rise in the next few years. Increase in investments in R&D, rise in funding, and technological advancements are the other factors contributing to the growth of the global interferon drugs market. However, patent expiration of interferon drugs acts as a major restraint of the market. Interferon drugs are expensive, which makes these unaffordable for patients. High pricing is a major concern affecting the availability of the drugs to patients. In developing economies, certain advanced treatments are not covered by the government which makes interferon treatment less accessible for the patient population. These factors hamper the growth of the global interferon drugs market. High cost of R&D also restrains the global market.
The global interferon drugs market can be segmented based on application, drug type, distribution channel, and region. In terms of application, the market can be classified into hepatitis B, hepatitis C, multiple sclerosis, leukemia, renal cell carcinoma, and others. Based on drug type, the global interferon drugs market can be categorized into interferon alpha, interferon beta, and interferon gamma. In terms of distribution channel, the market can be divided into hospital pharmacies, online pharmacies, and retail pharmacies.
In terms of region, the global interferon drugs market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America dominates the global market owing to increase in health care investments, technological advancements, surge in awareness about this advanced treatment among patients, and rise in the need of modern treatments for chronic diseases. Increase in R&D investments is also one of the factors attributed to North America’s dominance of the global market. The interferon drugs market in Asia Pacific is expected to witness strong growth during the forecast period. This is attributed to rise in patient population, government initiatives to increase health care expenditure, acceptance of interferon therapy, and others.
Leading players operating in the global interferon drugs market include F. Hoffmann La-Roche Ltd., Merck & Co., Inc. and Biogen, Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.