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Growth Factors Market Segmented By Transforming Growth Factor, Epidermal Growth Factors, Platelet-Derived Growth Factors, Fibroblast Growth Factors, Insulin-like Growth Factors, Vascular Endothelial Growth Factors, Hepatocyte Growth Factors, Tumor necrosis factors, Interleukins Product
Worldwide revenue from the growth factors market stands at US$ 1.96 Bn in 2022, with the global market estimated to expand at a CAGR of 6.9% to reach US$ 4.12 Bn by the end of 2033.
Growth Factors Market Size (2022)
US$ 1.96 Bn
Projected Market Value (2033)
US$ 4.12 Bn
Global Market Growth Rate (2023-2033)
Market Share of Top 5 Countries
As assessed by Persistence Market Research, Interleukins growth factors contributed the largest share of 21.4% among the product category in 2022. The growth factors market holds 2.6% of the global cytokines market valued at US$ 76.1 Bn in 2022.
The global growth factors market recorded a historic CAGR of 5.8% in the last 10 years from 2012 to 2022.
In the study of cancer, cytokines and growth factors are important. The study on the use of growth factors in cancer therapy has provided new targets for chemotherapy and expanded knowledge of the subject. Growth factors, including fibroblast growth factors, platelet-derived growth factors, vascular epithelial growth factors, and epidermal growth factors, play a significant role in the study of cancer.
The demand for growth factors in the global market is also expanding due to rising demand for growth factors in regenerative medicine and rising research and development spending in the field of cancer research.
Cell therapy is crucial for the regeneration of vascular and hematopoietic, neurological, skeletal, pancreatic, periodontal, and mucosal tissues. For diabetic neuropathic ulcers, periodontal abnormalities, and tissue regeneration at tibia fracture sites, platelet-derived growth factors and bone morphogenetic factors are in great demand.
In the upcoming years, the market expansion is anticipated to be significantly fuelled by rising demand for transforming growth factors in regenerative medicine.
“Market Consolidation on Growth factors in the Business Space & 19.2 Million People Affected by Cancer will grow market”
Growth factors are crucial for skin regeneration and wound healing. Acute wounds, chronic pressure ulcers, and chronic cutaneous ulcers have all been linked to a lack of growth factors. Growth factors have recently been discovered to be a promising wound-healing method when applied topically.
In order to get beyond the limitations of products based on single growth factors, researchers are concentrating on developing new products. Opportunities in the growth factors market are anticipated as skin regeneration and wound healing receive more attention from researchers.
A shift toward the rapidly developing Asia Pacific region and the small number of businesses that are only focused on GMP-grade products are two additional variables that are generating enormous prospects for growth factors makers.
The benefits of cytokine and growth factors therapy in the treatment of various disorders are anticipated to support market expansion in the upcoming years, along with the rising prevalence of autoimmune diseases and cancer.
Leading players' key growth strategies now centre on new product approvals, launches, collaborations, agreements, and partnerships. Key industry participants are concentrating on these tactics to strengthen their current product portfolios and broaden their regional reach.
Major businesses are concentrating on supplier and small-player partnerships, mergers, and acquisitions to expand their market presence. To increase their sales presence in the market, major businesses are implementing this method. Additionally, producers are concentrating on R&D initiatives as growth factors are applied in numerous therapeutic and scientific domains.
The World Health Organization (WHO) estimates that 9.9 million people will die from cancer worldwide in 2020. Additionally, 19.2 million people worldwide were afflicted with cancer. Additionally, it is projected that autoimmune illnesses, which are on the rise, will increase the need for growth factors.
“High Cost and Shortage of High Skilled Professionals”
The limited demand for growth factors is mostly a result of high costs and a shortage of professionals with the necessary skills. Researchers in the field of life sciences who have increasingly demanding requirements have driven the development of novel, expensive items.
The majority of researchers prefer to invest in less expensive products rather than expensive ones because of the uncertainty surrounding the results anticipated from sophisticated research operations, especially for research organisations with insufficient resources. Some growth factors are quite expensive, which is a constraint for most laboratories. Thus, the employment of growth factors in laboratory research is constrained by their high cost.
Another problem is the shortage of qualified professionals engaged in research and development. Low pay, inadequate laboratory training, and challenging tasks are the main contributors to the shortage of skilled experts. Managing research and development based on cell culture, growth factors, and biologics requires knowledgeable personnel.
As a result, the utilisation of the growth factors might be negatively impacted by a lack of qualified specialists and equipment and other accessories related to research laboratories, which in turn hampers the market's expansion.
Why is the Growth Factors Market Booming in the U.S.?
“Rising Government Measures to Support Research Activities.”
The U.S. is set to account for 38.8% share of the global market in 2023, and a similar trend is expected over the forecast period.
The demand for growth factors in the U.S. is anticipated to be driven by rising government measures to support research activities in the country and the rising need for growth factors and cytokines in stem cell biology.
Moreover, key players are focusing on R&D applications of growth factors in several clinical and scientific sectors.
Why is China Emerging as a Prominent Market for Growth Factors?
“Focusing on Developing Growth Factor-Based Medications”
China held the largest market share of 46.8% of the East Asia Market for growth factors in 2022. The market is projected to progress at a CAGR of 12.0%.
China has experienced an increase in COVID-19 cases after the outbreak of the infection. Growth factors are crucial in the immune response to combat COVID-19 infection. To combat the coronavirus outbreak, some of the bigger businesses in China are concentrating on the creation of growth factors-based medicines. Because of this, there is a developing market for growth factors-based medicines throughout China and the rest of East Asia.
Why is Germany Considered a Lucrative Market for Growth factors in Europe?
“Increasing Manufacturing Facilities”
In 2022, Germany dominates the European market with a current market share of 28.2%.
Healthcare spending per person is steadily rising worldwide. Spending on health and wellness has changed significantly as a result of people's willingness and ability to spend on these things.
Additionally, the supply of growth factors products is improved in the nation due to the presence of manufacturing facilities. Major companies are also expanding their product portfolios through mergers and acquisitions in order to take advantage of growth factors.
For instance, Sartorius AG purchased CellGenix in 2021 to expand its line of products for cell and gene therapies.
Which Growth Factors Product is Driving Market Growth?
In 2022, interleukins command the market in terms of product with a share of 21.4%. Interleukin growth factors demand is anticipated to increase as autoimmune illnesses become more common and interleukin growth factors are used for treatment more frequently.
Interleukins (IL) are a class of cytokines that were initially believed to be exclusively expressed by leukocytes, but were later shown to be produced by a wide range of different body cells. They are crucial for immune cell activation and differentiation, as well as for cell growth, maturation, migration, and adhesion. Also, interleukins produced in the lab are used in cancer treatment as biological response modifiers to enhance the immune system.
How is Cell Therapy and Ex Vivo Manufacturing Increasing Demand for Growth Factors?
In 2022, with 29.2% of market revenue, the cell therapy and ex vivo manufacturing categories are the most profitable. During the time of the study, this trend is anticipated to persist. Growth factors demand is on the rise, and the production of gene therapy and stem cell biology is using growth factors and cytokines more frequently.
Several companies are working to find new solutions and developing ex vivo gene therapy and cell therapy manufacturing techniques as the demand for cell and gene therapies rises. Ex vivo gene treatments have generated hope for curative treatment for B cell malignancies, and even tumours, in recent years. Somatic cell therapies have also been proven to be successful in treating haematological or immunologic reconstitution therapies, as well as metastatic prostate cancer, which is why this category has a large market share.
Which End User is Most Preferred for Growth Factors?
The pharmaceutical and biotechnology firms segment leads the way in terms of end users, holding more than 47.8% of the global market in 2022. Due to the maximal utilisation of growth factors for the creation of regenerative therapies and the increased emphasis on oncology research, pharmaceutical and biotechnology companies will present the profitable potential for market expansion.
High-tech firms have always preferred equity joint ventures as their primary form of collaboration, but gradually they have started to experiment with other types as well. Several patterns in the decisions businesses make about various forms of research collaboration, including R&D joint ventures, minority holdings, R&D agreements, and research contracts, for the pharmaceutical and biotechnology industries which will boost market for growth factors.
Why Does Non-GMP Production Witness Higher Demand in the Global Market?
In 2022, non-GMP commands the market in terms of grade with a share of 71.2% within the global market.
There are situations when data or pharmaceutical products are developed for use during laboratory or formulation operations that are not required to support a GMP activity hence, the use of non-GMP is more than GMP.
Non-GMP development services gives more speed and freedom. Producers may effectively execute non-GMP work then transition quickly to GMP manufacture by purposefully establishing good integration of all technologies in both the non-GMP and GMP facilities. In general, this integrated method reduces risks in the clinical manufacturing activities while also accelerating the total project timetable for the clinic.
Understanding how the demand for raw materials and registered starting materials (RSMs) changes and expands throughout the course of the development cycle is essential for developing a plan for their supply.
It can be challenging to locate feasible sources of regulatory starting materials (RSMs) and raw materials that are not produced under good manufacturing practises (GMP), hence non-GMP is frequently used.
Key players’ strategies for increasing their worldwide market presence include new product releases, business growth, approvals, partnerships, agreements, and collaborations, as well as expanded distribution methods including internet sales.
Similarly, the team at Persistence Market Research has tracked recent developments related to companies in the growth factors market, which are available in the full report.
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The global market for growth factors is valued at around US$ 1.96 Bn in 2022.
By 2033, the market for growth factors is anticipated to expand at a pace of 6.9% and reach US$ 4.12 Bn.
Demand for growth factors increased at 5.8% CAGR from 2012 to 2022.
With a combined market share of 63.2% in 2022, the U.S., Germany, U.K., China, and France accounted for the majority of demand for growth factors market.
The U.S. accounted for a 38.8% share of the global market in 2022.
Thermo Fisher Scientific, Lonza Group AG, and Merck KGaA are the top three manufacturers of the growth factors market.
China held a share of 46.8% in the East Asian market in 2022.
In 2022, Germany dominates the European market with a current market share of 28.2%.
India market is set to expand at a CAGR of close to 6.7% over the forecast duration.