Interleukin-1 Market Is Anticipated To Grow At A Healthy CAGR From 2019 To 2030.
Market Industry Reports (MIR) has published a new report titled “Interleukin-1 (IL-1) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global Interleukin-1 (IL-1) market is estimated to be over US$ 780.0 million by 2019. It is anticipated to grow at a healthy CAGR from 2019 to 2030.
Growing prevalence of certain types of chronic inflammation-mediated diseases such as arthritis, joint diseases, and diabetes, has been one of the prominent factors contributing to the growth of the global Interleukin-1 (IL-1) market. Moreover, rising interest & understanding of aspects associated with IL-1, has considerably complimented the growth of IL-1 market. Strong product pipeline of Interleukin-1 (IL-1) drugs such as APX002 and Belnacasan (VX-765, also HMR3480) by Creative-Biolabs and Vertex Pharmaceuticals respectively, is expected to further propel the growth of the market. However, serious allergic reactions which may result from intake of these drugs may hinder the growth of this market to a certain extent.
In U.S., it is estimated that, an average patient suffering from chronic inflammatory conditions, spends approximately US$ 38,000 on additional expenditures every year. Growing incidences of arthritis or other forms of rheumatic diseases is anticipated to significantly contribute to the global Interleukin-1 (IL-1) drugs market during the forecast period. In the U.S., the prevalence of doctor-diagnosed arthritis is anticipated to multiply significantly in the coming years. For instance, by 2040, it is estimated that 78.4 million adults aged above 18 years, will be diagnosed with doctor-diagnosed arthritis. Increasing incidences of these disorders are anticipated to significantly contribute to the growing demand for Interleukin-1 (IL-1) drugs during the forecast period.
However, intake of these drugs, without professional guidance may result in serious side effects and allergic reactions, which in turn can hamper the growth of the global Interleukin-1 (IL-1) market to a certain extent. For instance, consumption of Canakinumab (Brand Name: Ilaris), manufactured by Novartis AG, can cause serious side effects, which can further increase the chances of serious infections.
Browse key industry insights spread across 170 pages with market data tables & figures & charts from the report, Interleukin-1 (IL-1) Market by Type (Anakinra, Rilonacept, Canakinumab, and Gintuit), and Application (Arthritis and Inflammatory Diseases) – Market Size & Forecast, 2019-2030 in detail along with the table of contents:https://www.marketindustryreports.com/interleukin-1-market/215
Interleukin-1 approved products such as Kineret (Anakinra), Arcalyst (Rilonacept) and Ilaris (Canakinumab) among others, have witnessed significant worldwide sales for treating conditions such as inflammatory disorders and rheumatoid arthritis.For instance, Ilaris, which is used for disorders like Cryopyrin-associated periodic syndromes, Tumor necrosis factor receptor-associated periodic syndrome and Gouty arthritis among others, generated a significant revenue in the year 2018, with sales values reaching a staggering US$ 262 million in U.S. alone. Similarly, in countries other than U.S., the drug accounted for a net sales of US$ 292 million in 2018.
The prominent players operating in the global Interleukin-1 (IL-1) market are Swedish Orphan Biovitrum AB, Regeneron Pharmaceuticals, Inc., Novartis AG, Vertex Pharmaceuticals Incorporated, XBiotech, Creative Biolabs and other prominent players