Epidermal Growth Factors (EGF) Market is Anticipated to Witness High Growth Owing to Rising Application in Wound Healing


 The epidermal growth factors (EGF) market has been gaining widespread importance in the healthcare sector over the past few years. EGF are signaling proteins that help mediate cell growth, proliferation, and differentiation. They play a pivotal role in wound healing by stimulating cell migration and proliferation at wound sites. Consisting of 53 amino acid residues, EGF helps enhance epithelialization and healing of various types of wounds like pressure ulcers, diabetic foot ulcers, skin graft donor sites, and partial thickness burns. Their application for wound healing has been shown to reduce healing time significantly. With the rapid growth of the wound care industry worldwide, the global EGF market is estimated to be valued at US$ 1,349.6 Mn in 2024 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030.


Key Takeaways
Key players operating in the epidermal growth factors (EGF) market are Radiant Inc., Pavay, BIO-FD&C Co. Ltd., BIOEFFECT, LipoTrue, S.L., and Ytkangdaer. These players are focusing on expanding their geographical presence and offering innovative product formulations to strengthen their market position.

The wide applications of EGF in wound healing presents lucrative opportunities for market players. With rising investments in advanced wound care products, the wound healing segment is expected to be a key growth driver for the EGF market.

The increasing focus of major market players on emerging economies of Asia Pacific and Latin America for business expansions will further accelerate the global expansion of the epidermal growth factors market over the forecast period.

Market drivers: Growing geriatric population prone to chronic wounds is a major market driver. According to estimates, over 85% of chronic wounds occur among the geriatric population. Moreover, rising prevalence of diabetes which is one of the leading causes of chronic wounds such as diabetic foot ulcers, continue to provide impetus to the uptake of EGF-based products for wound healing.

Market restrain: High costs associated with EGF-based wound healing products might hamper market growth to some extent. Biologics are generally more expensive than conventional treatments which could restrict market penetration, especially in developing regions. However, strategic pricing policies adopted by key players is helping overcome this restraint.

Segment Analysis
The epidermal growth factors (EGF) market is dominated by the cosmetics segment. EGF helps stimulate the production of collagen and elastin in the skin which helps reduce the appearance of wrinkles and fine lines. Being a primary driver of skin renewal and repair, EGF sees widespread application in anti-aging cosmetic products. The aging population across regions is increasingly opting for beauty and anti-aging cosmetics incorporated with EGF to achieve younger looking skin. This makes the cosmetics sub-segment the largest revenue generator in the global EGF market.

Global Analysis
The North America region currently dominates the epidermal growth factors market and is expected to continue its dominance through 2030. The high per capita disposable incomes and well-established cosmetic industry support the use of premium bioactive ingredients like EGF in anti-aging products. On the other hand, the Asia Pacific region is projected to see the fastest growth during the forecast period. Increasing consumer spending on personal care products along with a rising geriatric population base is promoting the incorporation of EGF in cosmetic formulations. Additionally, the proliferating number of local manufacturers in countries such as China and India will aid the regional market expansion. Key players are focusing their attention on these high growth markets through facility expansion and product launches tailored to regional demand.

Comments

Post a Comment

Popular posts from this blog

Unveiling Health Secrets: Exploring the Potential of Blood-Based Biomarkers

Image
  The human body is a complex and intricate system, often harboring subtle signs of its inner workings. One of the most promising avenues for unlocking these secrets lies within our bloodstream – a treasure trove of information encoded in the form of blood-based biomarkers. These biomarkers, measurable indicators present in the blood, hold the potential to revolutionize healthcare by providing early detection, accurate diagnosis, and personalized treatment approaches. Blood-based biomarkers encompass a wide range of molecules – from proteins and nucleic acids to metabolites and even circulating cells. Researchers have been diligently working to identify specific biomarkers associated with various diseases and conditions. For instance, elevated levels of certain proteins might point to cardiovascular diseases, while specific genetic material could indicate the presence of cancer. By analyzing these biomarkers, clinicians gain valuable insights into an individual's health status, en...
Read more

Revolutionizing Biology: Advancements in Single Cell Analysis Techniques

Image
  Single cell analysis has emerged as a groundbreaking technology that is revolutionizing the field of biology. Traditionally, biological studies were conducted on populations of cells, averaging out the heterogeneity present within them. However, the advent of single cell analysis has enabled scientists to delve into the complexity of individual cells, uncovering a wealth of previously inaccessible information. Advancements in single cell analysis techniques have paved the way for a deeper understanding of cellular heterogeneity, gene expression, and cellular behavior. One of the most remarkable techniques is single-cell RNA sequencing (scRNA-seq), which allows scientists to measure gene expression in individual cells. This breakthrough has led to the identification of rare cell types, understanding of cellular communication networks, and the discovery of novel biomarkers. Moreover, single cell imaging techniques, such as single cell fluorescence microscopy, have enabled research...
Read more

Medical Robots Market Poised to Grow Owing to Improving Healthcare Infrastructure

Image
 The Medical Robots Market is anticipated to witness robust growth due to rising healthcare spending across the globe. Medical robots are used to perform minimal invasive surgeries with greater accuracy and flexibility. Growing preference for Robot-Assisted Surgery (RAS) over conventional open surgeries due to benefits such as shorter recovery time and minimum operative scars has been augmenting demand for medical robots. Key functions include guiding and positioning surgical accessories like guide tubes in radiology and guiding catheter and wires in cardiology. With rising chronic disease prevalence associated with aging populations, the need for more surgical procedures is surging which requires precise action minimally invasive robotic systems can provide. The Global Medical Robots Market is estimated to be valued at US$ 11.47 Bn in 2024 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030. Key Takeaways: Key players operating in the Medical Robo...
Read more