Acumen Research and Consulting, a global provider of market research studies, in a recently published report titled “Interferon Beta Drugs Market– Global Industry Analysis, Market Size, Opportunities And Forecast, 2020-2027”
LOS ANGELES, Feb. 05, 2021 (GLOBE NEWSWIRE) -- The Global Interferon Beta Drugs Market is expected to grow at a CAGR of around 3.9% from 2020 to 2027 and reach the market value of over US$ 4,827.6 Mn by 2027.
Interferon Beta or Interferon β or IFNβ is the current standard treatment for patients with multiple sclerosis. Moreover, it is also used for the treatment of hepatitis C in Japan but is not licensed for the treatment of HCV in most countries. IFN-β has also been tested in the clinical trials for recovery from ischemic stroke, subacute sclerosing panencephalitis, chronic inflammatory demyelinating polyradiculoneuropathy, progressive multifocal leukoencephalopathy due to JC virus, HTLV-associated myelopathy, and treatment of malignant glioma.
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Additionally, Interferon-β is an approved treatment for multiple sclerosis (MS), and antithyroid autoantibodies, and thyroid dysfunction. A longitudinal study of 156 patients with multiple sclerosis treated with IFN-β gone through a follow-up of 1 year did not demonstrate a significant increase in the frequency of thyroid dysfunction over time.
Segment Instance of Interferon Beta Drugs Market
The global interferon beta drugs market is segmented based on product type, source of administration, end-user, and geography. Based on product type, market segments include interferon beta-1A, Interferon Beta-1B, and peginterferon Beta-1A. By source of administration, the market is divided into intravenous, subcutaneous, and intramuscular. Additionally, the end-users of the interferon-beta drugs market include hospitals pharmacies, retail pharmacies, drug stores, and online pharmacies.
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In 2019, North America held the major share (%) in the interferon beta drugs market, and the region is also projected t maintain its dominance over the forecast period from 2020 to 2027. The approval of various types of IFN-β in the US is supporting the regional market value. The continuous efforts of major players for the development of advanced medication for the effective treatment of diseases are further contributing to the regional market with dominating share.
Some of the leading competitors are A S Biotech, Apple Pharmaceuticals, Bayer, Biogen Idec., Hoffmann-La Roche Ltd, Merck KGaA, Mili Healthcare, Novartis AG, Pfizer Inc, and Rewine Pharmaceutical among others. Interferon beta drugs companies have announced mergers and acquisitions, partnerships and collaborations, and new product development in order to uplift their position in the interferon beta drugs industry. Major players are also moving into new regions with advanced technologies for gaining a competitive advantage.
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Some of the key observations regarding the interferon beta drugs industry include:
According to interim results of a World Health Organization (WHO)
International open-label trial published in the New England Journal of Medicine, interferon beta-1a do not reduce mortality, hospitalization duration, or ventilation initiation, for coronavirus disease 2019 patients. As a part of the study, 11,266 patients from hospitals between March 22 to October 4, 2020, in 30 countries were randomly assigned to receive either remdesivir (n=2750), hydroxychloroquine (n=954), lopinavir (n=1411), interferon (n=2063), or no trial drug (n=4088).
Synairgen plc has announced a clinical trial agreement in January 2021 to include its inhaled interferon beta-1a treatment (SNG001) in the ACTIV-2/A5401 Phase II/III trial in patients with COVID-19 not yet requiring hospitalization. The trial is sponsored by the US National Institutes of Health (NIH) part, National Institute of Allergy and Infectious Diseases (NIAID).
The European Commission (EC) has approved a new intramuscular (IM) injection route of administration for Biogen’s Plegridy, particularly for the treatment of relapsing-remitting multiple sclerosis (RRMS). Moreover, Plegridy (peginterferon beta-1a) is a long-acting treatment for RRMS. The new route of administration is providing patients with the same efficacy and safety, as well as it has the potential to reduce the injection site reactions compared to SC administration.
In 2021, Faron Pharmaceuticals, a Clinical-stage biopharmaceutical company has announced that the US FDA has approved the phase 2 and 3 ‘HIBISCUS’ trial assessing its intravenous IFN beta-1a ‘Traumakine’ for the treatment of hospitalized patients with Covid-19. The company has said that based on the study, that Traumakine would be used before the current practice of corticosteroids, to prevent systemic inflammatory response syndrome (SIRS) and acute respiratory distress syndrome (ARDS), to improve the clinical condition and reduce patient death.
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