The global interferon beta 1B drugs market is anticipated to grow at a considerable CAGR of 3.1% during the forecast period (2022-2028). Interference beta 1B is the recombinant human interferon drug used for the treatment of multiple sclerosis by slowing the progression of relapsing multiple sclerosis. This drug does not cure multiple sclerosis, however, reduces the symptoms including electric shock sensation due to certain neck movements, lack of coordination between the limbs, numbness or weakness in limbs in the morning that typically occurs on one side of the body. The major factor attributing to the growth of the global interferon beta 1B drugs market is the rising prevalence of multiple sclerosis across the globe. According to the report published by the National Library of Medicine (NIH) in December 2020, around 2.8 million people are estimated to have multiple sclerosis globally. The prevalence of multiple sclerosis is around 35.9 in every 100,000 population and is estimated to increase during the forecast years. Thus, boosting the demand for interferon beta 1B drugs for the treatment its treatment.
In addition, several developments for interferon beta 1B are also contributing significantly to the growth of the market. For instance, in April 2020, the Russian Ministry of Health announced the expansion of the list of drugs that are recommended for the treatment of COVID-19 in adults. The newly added drugs include chloroquine, azithromycin, nadroparin, tocilizumab, and recombinant interferon beta 1B. Furthermore, according to the results of a clinical study published by the Journal of Medical Virology in March 2021, interferon beta 1B drugs were found to be efficient in the treatment of COVID-19 patients in their inflammatory phase. The results of the study showed that after the use of interferon beta 1B drugs, the rate of mortality and admission to ICU reduced, and also reduced the requirement for oxygen support in patients.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By the Route of Administration
- By End-user
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape– Bayer AG, Novartis International AG, Teva Pharmaceuticals Industries Ltd., Viatris Inc., and Apotex Inc., among others.
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Global Interferon Beta 1B Drugs Market Report by Segment
By the Route of Administration
- Subcutaneous
- Intramuscular
- Intravenous
By End-user
- Hospitals
- Clinics
- Others
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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