Recombinant Human Epidermal Growth Factor (EGF) is a 61-amino acid mitogenic polypeptide that plays an important role in various cellular functions such as cell proliferation, migration, adhesion and survival. It promotes wound healing through neovascularization and re-epithelialization. The growth factor increases the synthesis of collagen which supports the healing of wounds.
Recombinant Human (EGF) Market Share is extensively used for wound healing in conditions like slow healing wounds, wounds where surgical intervention has taken place etc. It enhances regeneration of epidermis and promotes closure of wounds. This makes recombinant human EGF highly beneficial for healing chronic wounds which take a long time to heal. With increasing incidence of chronic wounds such as diabetic ulcers, venous ulcers and pressure ulcers, the demand for recombinant human EGF is expected to grow at a substantial rate over the forecast period.
The Global recombinant human EGF Market is estimated to be valued at US$ 31.44 Bn in 2024 and is expected to exhibit a CAGR of 5.5% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the recombinant human EGF market are Microchip Technology, Inc., SK Hynix, Inc., NXP Semiconductors, Samsung Electronics Co., Ltd., Intel Corporation, Infineon Technologies AG, Cypress Semiconductor Corporation and Renesas Electronics Corporation. These players are focusing on expanding their product portfolios and investing in R&D activities to strengthen their positions in the market.
The recombinant human (egf) market share rising prevalence of chronic wounds due to increasing incidence of diabetes and vascular diseases has boosted the demand for recombinant human EGF. As chronic wounds remain untreated for a long time, recombinant EGF plays a vital role in enhancing the healing process. According to the Wound Healing Society, about 8.2 million people in the US suffer from chronic wounds each year.
Technological advancements have enabled large-scale production of recombinant human EGF through cell culture systems with higher yield and purity. Development of new drug delivery systems such as hydrogels and films for localized and sustained delivery of EGF is further supporting the market growth.
Market Trends
Increasing collaboration between academic research institutes and market players - Research institutes are entering into partnerships with recombinant EGF manufacturers to conduct clinical trials and develop advanced formulations. This will help address unmet needs and drive innovation.
Growing demand for combination therapies - Using recombinant EGF along with other growth factors such as PDGF and FGF works synergistically to accelerate wound healing. Market players are developing combination therapy products to tap the potential.
Market Opportunities
Application in scar-free wound healing - Scar-free wound healing is a major unmet need globally. Ongoing research to develop EGF formulations for scar-free healing will open new avenues.
Focus on developing tissue-engineered skin substitutes - Tissue-engineered skin can permanently replace lost or damaged skin without scarring. Combining EGF with skin substitutes can provide an ideal wound healing solution.
Impact of COVID-19 on Recombinant Human (EGF) Market Growth
The Recombinant Human (EGF) Companies in COVID-19 pandemic has impacted the growth of the recombinant human (EGF) market. During the initial lockdown periods in 2020, manufacturing activities and supply chain operations were disrupted globally. This led to a decline in production and shortage of supply. As hospitals were overwhelmed treating COVID patients, demand for recombinant human EGF from medical applications reduced temporarily. However, with the pandemic intensifying the focus on health and Medicine, funding for research on treatment of chronic diseases increased. Post COVID, as vaccination drives progressed worldwide and economies reopened gradually, the market is recovering. Production and supply chain functions resumed with protective measures. Demand from pharmaceutical companies is rising again as clinical trials and new drug development works picked up pace. Government support for healthcare sectors and focus on pandemic preparedness is also driving growth in the long run. The market is expected to bounce back, aided by investments in healthcare infrastructure and R&D funding during the forecast period from 2024 to 2031.
Geographical Regions with Highest Concentration of Recombinant Human (EGF) Market Value
North America region holds the largest share of the global recombinant human (EGF) market in terms of value. This is attributed to presence of major players, advanced research facilities, healthcare expenditure and early adoption of new technologies. The United States accounts for the major demand from the region. Following North America, Europe is the second largest market concentrated in countries like Germany, United Kingdom and France.
Asia Pacific region is growing at a fast pace led by China and India. Increasing disposable incomes, expanding patient population and investments in biotech sectors are factors fueling the market in Asia Pacific which is emerging as the fastest growing geographical region.
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