Market Trends of Interferons Industry
Leukemia Segment is Expected to Hold a Significant Market Share Over The Forecast Period
- Interferon-alpha is most often used in treating chronic myeloid leukemia (CML). The segment is expected to show stable growth during the forecast period owing to the high burden of leukemia and rising product approvals and launches by market players.
- According to the American Cancer Society (ACS) 2022 report, 1.9 million new cancer cases were diagnosed in the United States in 2022. Out of the cancer cases, leukemia was reported with 60,650 new cases, and lymphoma with 89,010 new cases in the United States in 2022. Also, as per ACS 2021 facts, approximately every 3 minutes, one person in the United States is diagnosed with leukemia, lymphoma, or myeloma.
- Furthermore, according to the Leukemia Foundation 2022 update, 19,403 new Australians were diagnosed with a blood cancer such as leukemia, lymphoma, and myeloma in 2022. This was equivalent to 53 people daily or one person every 27 minutes. The same source stated that 135,000 individuals were living with blood cancer in Australia in 2022, and more than 275,000 Australians are expected to be living with blood cancer by 2035. Thus, the high burden of leukemia worldwide is expected to propel the segment growth during the forecast period.
- Additionally, the strategic initiatives by market players, such as product approvals and launches, as well as partnerships, are also contributing to the segment growth during the forecast period. For instance, in November 2021, PharmaEssentia Corporation, a global biopharmaceutical innovator based in Taiwan, received U.S. FDA approval for BESREMi (ropeginterferon alfa-2b-njft) for the treatment of adults with polycythemia vera (PV). It is a rare blood cancer that can proceed to cause myelofibrosis and other malignancies, such as acute myeloid leukemia, if left untreated. The approvals of advanced interferons for the treatment of leukemia are projected to expand the segment's growth.
- Therefore, owing to the high burden of leukemia, the company's research and development for developing an innovative product are anticipated to propel the segment's growth during the forecast period.
Understand The Key Trends Shaping This Market
Download PDF
North America is Expected to Hold a Significant Market Share Over the Forecast Period
- North America is expected to hold a significant share of the interferon market due to the high burden of cancer coupled with developed medical and healthcare establishments and the availability of products in the region.
- According to the ACS 2022 report, melanoma of the skin reported 99,780 new cases in 2022 in the United States. Also, in 2022, 79,000 new cases of renal cancer were diagnosed in the United States. Most kidney cancers are renal cell carcinomas. Hence, the high burden of melanoma and renal cell carcinoma in the region is expected to propel the market growth during the forecast period.
- Furthermore, the data published in the Viral Hepatitis National Strategic Plan: 2021-2025 report for the United States, updated in January 2021, stated that people who have underlying medical disorders, such as those who have chronic liver diseases like hepatitis B and C, may be more susceptible to developing severe illnesses from COVID-19. Therefore, the demand for the interferons market will significantly be higher in the North American region as the patient population is increasing compared to other countries.
- In addition, the presence of key market players, coupled with growing awareness programs and the introduction of the latest products in the region, is responsible for bolstering the market's growth in the United States. Moreover, in January 2022, Synairgen plc, the respiratory company developing SNG001 (inhaled interferon-beta or IFN-beta) for the treatment of COVID-19 as potentially the first host-targeted, broad-spectrum antiviral treatment delivered directly into the lungs, partnered with global experts in strategic engagement and commercialization, Ashfield Engage. Also, in November 2021, Synairgen completed the enrolment of 610 patients in its Phase 3 SPRINTER trial (SG018). SNG001 has also recently graduated to the Phase 3 part of the US National Institute of Health's ACTIV-2 trial. Thus, such clinical trial developments for interferon in the region are expected to boost the growth of the market in the region over the forecast period.
Get Analysis on Important Geographic Markets
Download PDF
