Global Market Study on Growth Factors - ‘Reinforcing’ the Life Sciences Research


Growth Factors  Market
  • Published On : Jul-2019 |
  • Pages : 220 Pages |
  • Format : PPT PDF Excel Word

Adoption of growth factors by pharmaceutical and biotechnology companies, research centers and academic institutes, and contract research organizations has grown significantly in recent years. The steady rise has been bolstered by the notable rise in the need for conducting research, pre-clinical and clinical trials for the development of novel drugs and treatments for a growing number of health issues. Burgeoning investments in life science research continue to uplift the market value of growth factors owing to their extensive application in this field.

global growth factors market winning imperatives

In line with the growing appreciation for the attributes of growth factors, that has been observed in several recently conducted research studies, Persistence Market Research (PMR) attempts to analyze the market attractiveness of growth factors, for the period of forthcoming years. PMR, in its latest publication on the growth factors market, unfolds the vital aspects of this industry, with a key focus on determinants that are shaping the developments in the industry.

Growth Factors Market - Set for an Upward Ride

The latest study by PMR assessed the journey of the growth factors market till now, and indicated an absolute $ opportunity of US$ 87.6 Mn in 2019 over 2018, and US$1,327.1 Mn between 2019 and 2029. The study states that increasing adoption of growth factors in the cell culture-based research and in stem-cell biology applications is likely to set the stage for higher gains in the market through 2029.

Top Growth Influencers - Growth Factors Market

Increasing Funding for Life Science Research Underpinning Gains

Increasing awareness about the role of growth factors and cytokines in life science-based research continues to favor revenue potential of the market. With a growing number of government, private, and commercial organizations offering bulk funding for life science-based research for the development of novel drugs to combat illness and economic burden, the market is escalating at a steady pace. Furthermore, the substantial rise in the demand for growth factors in tissue regeneration and regenerative medicines is also likely to pace up the lucrativeness of the global growth factors market

Stem Cell Biology – A Mine of Opportunities for Investors

Rising focus of pharmaceutical companies and research centers on stem cell research has been driving the adoption of growth factors for their wide applications for culture expansion and for driving differentiation into specific cell types. Rapidly expanding stem cell research continues to fuel the adoption of stem cell treatment, thereby creating a dire need for cytokines and growth factors to support the clinical development of cellular therapies. Moreover, in several countries, for instance, in the US, NIH and other government organizations offer funding for various stem-cell based research initiatives, which in turn is creating lucrative avenues for the market players.

Widening Applicability in Wound Healing and Skin Regeneration

Surging adoption of various growth factors, such as transforming growth factors, platelet-derived growth factors, vascular endothelial growth factors, transforming growth factors, and fibroblast growth factors, for wound healing process and skin regeneration is reinforcing market potential. Growing end user awareness about the topical administration of growth factors as a key strategy to augment wound healing is underpinning gains. A substantial growth in research in the field of wound healing and skin regeneration is highly likely to accelerate progress of the growth factors market.

Laser Sharp Focus on Oncological Research – A Prominent Trend

With the connection of growth factor families and oncogenes leading to better understanding of the carcinogenesis and paving way for new targets for chemotherapy, they have increasingly become an integral part of the cancer research. A recent upsurge in the awareness about the role of growth factors, such as vascular epithelial growth factors, epidermal growth factors, fibroblast growth factors, platelet-derived growth factors in cancer research and diagnosis is creating fresh avenues for vendors.

Lucrativeness of Application in Regenerative Medicine Remains Intact

Increasing significance of growth factors in the skeletal, vascular and hematopoietic, neural, pancreatic, periodontal, and mucosal tissue regeneration is adding value to the attractive market potential. High demand for growth factors, such as bone morphogenetic factors and platelet-derived growth factors for applications in diabetic neuropathic ulcers and periodontal defects, tissue regeneration at sites of tibia fracture and nonunion is uplifting opportunities for stakeholders.

global growth factors market

Winning Imperatives

Foraying in East Asia & South Asia for Gains   
Rising R&D investments in countries, such as China, South Korea, and India have shifted the focus of stakeholders on Asia Pacific as a lucrative market from higher revenues point of view. Shifting focus of companies on pharmaceutical manufacturing companies and research institutes in Asia Pacific to expand footprint and reinforce standpoint is likely to drive gains in the growth factors market. Mergers and acquisitions, and collaborations with pharmaceutical and biotechnology companies are the key strategies leveraged by vendors to uplift the revenue gains in various geographies.

Broadening Product Offerings

Leading players in growth factors market are increasingly focusing on developing innovative product services that are tailored to specific research requirements to retain their share in the industry. Strengthening product profile via bulk R&D investments and formation of new product lines is garnering notable attention as a key gains-oriented strategy. They are also investing in innovative marketing and growth strategies to ensure reach beyond any geographical barriers.

Competitive Landscape

  • In October 2018, Thermo Fisher Scientific acquired Becton Dickinson and Company's Advanced Bioprocessing's complementary cell-culture media products and robust technical services program into the company’s leading bioproduction portfolio. This enabled Thermo Fisher Scientific’s biopharmaceutical customers bring novel and innovative drugs to market faster.
  • In July 2018, GenScript Biotech Corporation announced $75 million investment to establish a modern biologics discovery, development, clinical & commercial manufacturing center in China. The manufacturing center will start operating by next year.

The top six companies, such as Thermo Fisher Scientific, Lonza Group AG, Merck KGaA, GE Healthcare, F.Hoffmann-La Roche Ltd, and Abcam plc. are collectively accounting for ~68% revenue share in the the growth factors market. In view of the ascending nature of growth factors market, several companies are eying entry in the industry. Market big shots are emphasizing on acquisition and partnerships with the regional players and suppliers to expand their foothold in the growth factors market. Increased focus of leading players on R&D activities, in light of increasing applications of growth factors in various clinical and research fields is likely to bolster the progress of the market in the forthcoming years.

global growth factors market segmentation

Analyst Viewpoint

The increasing requirement of growth factors for proliferating pre-clinical and clinical trials, coupled with rising R&D efforts in life science field are likely to set the pace for the progress of growth factors market. In view of the burgeoning use of growth factors in biologics, cancer research and tissue regeneration, the market is envisaged to register 8% CAGR during 2019-2029. As growth factors don’t have any alternatives, their demand will continue to pick pace and will overshadow the high pricing aspect. Market players that are smartly collaborating with end users, such as research centers and academic institutes, pharmaceutical and biotechnological companies and contract research organizations are highly likely to make higher gains in the forthcoming years.

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Growing Demand for Growth Factors and Cytokines in Stem Cell Biology Expected to Drive the Growth Factors Market

Cytokines and growth factors are applied to stem cells for culture expansion or to drive differentiation into specific cell types. Stem cell research continues to expand, and stem cell treatment is gaining adoption over time. Therefore, cytokines and growth factors are gaining demand for supporting the clinical development of cellular therapies.

Growth factors are used for speeding up stem cell growth. Growth factors play an important role in the induced pluripotent stem cells differentiation into progenitor cells, which are used in various cell biology processes. Moreover, increasing funding for stem cell research is expected to propel the global growth factors market. In the U.S., NIH and other government organizations provide funding for various stem cell-based research initiatives.

Important Role of Growth Factor in Wound Healing and Skin Regeneration Favors the Growth of the Growth Factors Market

Various growth factors, such as epidermal growth factors, transforming growth factors, fibroblast growth factors, vascular endothelial growth factors, platelet-derived growth factors, and transforming growth factors, play an important role in the wound healing process and skin regeneration.

The deficiency of growth factors has been seen in chronic pressure ulcers, chronic dermal ulcers, and acute wounds. Currently, the topical administration of growth factors is a popular strategy to promote wound healing.

At each stage of healing, a different set of specific cytokines and growth factors are required, due to which researchers are focusing on the development of new products to overcome the limitation of single growth factor-based products. Growing research in the field of wound healing and skin regeneration is expected to favor the growth of the global growth factors market.

Increasing Research and Development in the Field of Oncology to boost the Market

Cytokines and growth factors are an important part of cancer research. Growth factors, such as vascular epithelial growth factors, epidermal growth factor, fibroblast growth factor, and platelet-derived growth factor, play an important role in cancer research and diagnosis. Moreover, cell culture has helped most to the oncology research as cancer cells are more responsive to culture in vitro environment. 

Increasing research & development activities and funding in the field of oncology are among factors expected to boost the demand for growth factors. For instance, the National Cancer Institute (NCI), along with other institutes, invests in major research initiatives to facilitate and support research on the specific issues of importance for cancer research enterprises.

Competitive Landscape

The competition section of the report features profiles of the key players operating in the growth factors market based on their product line, market shares, development, and market expansion strategies. Examples of some of the key players featured in this report are

  • Thermo Fisher Scientific
  • Merck KGaA 
  • Hoffmann-La Roche Ltd.
  • Abcam PLC.
  • Lonza Group Ltd.
  • Meridian Bioscience Inc.
  • General Electric Company
  • GenScript Biotech Corp 
  • Randox Laboratories Ltd.
  • Applied Biological Materials (ABM) Inc.

Definition

Growth factors are signaling molecules that control cell activities and stimulate cellular growth & cellular differentiation. Growth factors affect various physiological processes such as angiogenesis, proliferation, apoptosis, morphogenesis, immunological or hematopoietic response, and wound healing, as well as help maintain tissue homeostasis in adult organisms. Growth factors can be classified as various families, superfamilies, and groups according to their structural and functional characteristics.

About the Report

PMR has conducted a research study on the growth factors market for the historical period 2014 to 2018, and the forecast period 2019 to 2029. The growth factors market report offers a comprehensive evaluation of the business opportunities prevailing in the growth factors market, along with insights on the growth factors market current trends and opportunities. The report elaborates the macroeconomic factors that influence the dynamics of growth factors market and its futuristic potential. The growth factors market report also includes market dynamics such as the drivers and restraints of the market.

Segmentation

The report offers a comprehensive taxonomy of the growth factors market based on product type, application, and end user. Based on the product type, the growth factors market has been segmented into Transforming Growth Beta Factor (TGF-beta), Epidermal Growth Factors (EGFs), Platelet-Derived Growth Factors (PDGFs), Fibroblast Growth Factors (FGFs), Insulin-Like Growth Factors (IGFs), Vascular Endothelial Growth Factors (VEGFs), Hepatocyte Growth Factors (HGFs), Tumor Necrosis Factors (TNFs), Interleukin (ILs), and others. The Interleukin (ILs) segment is expected to hold a large revenue share in the growth factors market.

Growth factors are used in various applications such as hematology, oncology, cardiovascular disease & diabetes, dermatology, wound healing, cell culture, and others. Based on application, the cell culture segment is expected to witness a significant revenue share in the growth factors market. Based on the end user, the growth factors market has been segmented into pharmaceutical &biotechnology companies, research centers & academic institutes, and contract research organizations. The growth factors market has been analyzed across various regions, namely North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East and Africa.

Additional Questions Answered

Some of the additional questions addressed in this report on the growth factors market-

  • What is the revenue potential of the growth factors market across different regions?
  • Who are the key competitors and what are their portfolios in the growth factors market?
  • What are major challenges influencing the growth of the growth factors market?
  • What is the cost of various growth factors in different regions?

Research Methodology

The growth factors market has been estimated based on the supply-demand approach. A triangulation methodology has been adopted to derive the market size, and the market potential is estimated through a modelling approach. Various growth factors demand has been has estimated from various end users. Information about the demand for growth factors s further validated through primary research (by conducting surveys and interviews) and secondary research (including company websites, annual reports, and resourceful databases). With this approach, the report on the growth factors market projects the industry attractiveness of every major segment over the forecast period.

A latest research performed and published by Persistence Market Research (PMR) analyzes the historical and current scenario of ‘Global Growth Factors Market’ to accurately assess the futuristic development of the industry. It presents in-depth information pertaining to drivers, restraints, and key trends that are influencing the lucrativeness of the growth factors market to identify the opportunistic growth potential for partakers. The report also highlights information about how existing trends will shape the dynamics of the growth factors market during the study period, 2019-2029.

The report offers incisive insights about the various aspects and nuances of the growth factors market to aid the market enthusiasts take winning decisions. PMR’s report also sheds light on the vital trends that are highly likely to influence the lucrative potential of the growth factors market during the projection period. The study includes a key indicator assessment to highlight the different key development prospects of the growth factors market and forecast statistics pertaining to the progress of the market in terms of value and volume.

The report provides far-reaching information about the segmentation of the growth factors market along with actionable insights on competitive landscape. The report also exhibits company profiles of the brands that are operating in the growth factors market, wherein, various development and winning strategies formulated and leveraged by the market goliaths have been mentioned in a comprehensive way.

Growth Factors Market - Segmentation

PMR’s study examines the growth factors market on the basis of product, application, end user, and region. The report underlines the market dynamics and rapidly changing trends related to the various segments, and how they are influencing the dynamics of the growth factors market.

Product

Application

End User

Region

Transforming Growth Factor (TGF)

  • Activin
  • Bone Morphogenetic Proteins (BMPs)
  • TGF-beta Proteins

Hematology

Pharmaceutical and Biotechnology Companies

North America

Epidermal Growth Factors (EGFs)

Oncology

Research Centers & Academic Institutes

Latin America

Platelet-Derived Growth Factors (PDGFs)

Cardiovascular disease & Diabetes

Contract Research Organizations

Europe

Fibroblast Growth Factors (FGFs)

Dermatology

South Asia

Insulin-like Growth Factors (IGFs)

Wound Healing

East Asia

Vascular Endothelial Growth Factors (VEGFs)

Cell Culture

Oceania

Hepatocyte Growth Factors (HGFs)

Others

Middle East & Africa

Tumor necrosis factors (TNFs)

Interleukins 

Others

What are the Key Questions Answered in PMR’s Report on Growth Factors Market?

The report offers exclusive information about the growth factors market on the basis of detailed research on the macro and microeconomic determinants that are playing a vital role in shaping the progress of the growth factors market. The information mentioned in the report answers to the salient queries for the players operating in the market as well as the brands that are eying entry into the growth factors market, to assist them strategize winning moves.

  • What are the winning strategies of big shots in the growth factors market?
  • Which end user of the growth factors will account for highest market revenues in 2021?
  • How market goliaths are successfully marching ahead and achieving gains in the growth factors market?
  • What will be the Y-o-Y value of growth factors market between 2018 and 2019?
  • Which product of growth factors market witnessed highest demand in 2018?
  • What rate of ROI can growth factors’ vendors can expect from application in pharmaceutical and biotechnology companies in the next couple of years?

Research Methodology – Growth Factors Market

The research methodology employed by the PMR analysts for making growth factors market report includes a comprehensive research that is based on primary as well as secondary resources. By analyzing the market-validated data and information collected and verified by pertinent resources, analysts have mentioned actionable insights and authentic forecast of the growth factors market.

During the primary research phase, analysts conducted interviews of C-level executives, regional managers, raw material suppliers, vice presidents, sales and marketing managers, brand manager, and industry players as well as investors. Based on the information accumulated through the interviews of pertinent resources, analysts have underlined the development outlook of growth factors market.

For secondary research, PMR analysts performed a comprehensive study of multiple annual report publications, research publications, industry association publications, case studies, white papers, and company website to obtain deep understanding of the growth factors market.

Company Profiles

  • Thermo Fisher Scientific
  • Merck KGaA
  • Hoffmann-La Roche Ltd.
  • Abcam PLC.
  • Lonza Group Ltd.
  • Meridian Bioscience Inc.
  • General Electric Company
  • GenScript Biotech Corp
  • Randox Laboratories Ltd.
  • Applied Biological Materials (abm) Inc.
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