Transforming Growth Factor Market
Global Market Study on Transforming Growth Factors: Oncology Research Application to Lead Market Growth
Transforming Growth Factor Market Segmented By Activin, Bone Morphogenetic Proteins, TGF-beta Proteins Product with GMP Grade and NON-GMP Grade
Global demand for transforming growth factors is slated to experience significant growth at 7.7% CAGR over the period of 2021 to 2031, from an estimated market value of around US$ 337 Mn in 2021. As per Persistence Market Research’s projections, the bone morphogenetic proteins (BMPs) segment holds a substantial share of over 43% at present.
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- GE Healthcare
- Thermo Fisher Scientific
- Lonza Group AG
- Merck KGaA
- F. Hoffmann-La Roche Ltd
- Abcam plc.
- Sartorius CellGenix GmbH
- Proteintech Group, Inc.
- PeproTech Inc.
- Cell Signaling Technology, Inc.
- Meridian Bioscience Inc.
- Applied Biological Materials (abm), Inc.
- Akron Biotech
- Leadgene Biomedical, Inc
Key Insights Covered in Transforming Growth Factor Industry Survey:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis By Key Players
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Demand for Transforming Growth Factors and How to Navigate
- Recommendation on Key Winning Strategies
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Sales Analysis of Transforming Growth Factors from 2016 to 2020 Vs Market Outlook for 2021 to 2031
The global transforming growth factor market expanded at 5.9% CAGR over the past 5 years.
Transforming growth factors play a critical role in enhancing granulation tissue formation, modulating inflammatory responses, and inducing angiogenesis. They are essential for successful matrix formation and remodelling processes in the normal wound healing process.
Growth factor deficiency has been seen in chronic pressure ulcers, chronic dermal ulcers, and acute wounds.
At each stage of healing, a different set of specific cytokines and growth factors are required; therefore, researchers are focusing on the development of new products to overcome the limitations of single growth factor-based products. Tremendous research in the area of skin regeneration and wound healing is projected to favour demand growth of transforming growth factors over the coming years.
The global market is expected to surge at a considerable CAGR of 7.7% over the next ten years.
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What Growth Avenues are on Offer for Transforming Growth Factor Manufacturers?
Limited number of companies with sole focus on GMP grade products acts as a strong growth opportunity for stakeholders across the value chain. In spite of having numerous large player and many smaller regional players, there are very limited companies that provide GMP-grade products and reagents. As such, this create opportunities for manufacturer to develop high quality GMP-grade biological products.
R&D spending on life sciences is high, and is projected to grow at a stable rate over the coming years. Companies are investing in providing tools and products to meet research requirements, and develop unique manufacturing processes to generate more products in one batch and generate more revenue.
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What’s Hindering Demand for Transforming Growth Factors?
Demand for transforming growth factors may get hampered due to high costs on research activities. Researchers in the life sciences domain demand complex specifications to develop novel products, which increases cost of the product. However, there is increasing shift towards premium products as they are of a higher quality than standard reagents and products.
With unexpected results from complex experiments, several researcher do not prefer to invest in such products due to limited budget and funding. Some transforming growth factors are very costly as well. This is a limiting factor for most laboratories to develop growth factors.
Why is the U.S. Such a Prominent Market for Transforming Growth Factors?
The U.S. is estimated to dominate the North American region with a total market share of 94% in 2021, and is projected to continue experiencing high growth throughout the forecast period.
Growth of this market is due to the emergence of academia as primary organisations for basic research activities. As companies focus on bringing products to the market with an aim to generate profits, most basic research is carried out in academia.
According to the National Science Foundation’s 2012 report, 61% of all applied research and 87% of development took place in the industry, 56% of the basic research conducted in the U.S. was carried out in academia.
Will Germany Remain a Lucrative Pocket for Suppliers of Transforming Growth Factors in Europe?
Germany dominates the European market for transforming growth factors with a share of 28% in 2021. Presence of research facilities for transforming growth factor leads to better treatment options in the country. Additionally, key market players are entering into research collaborations to develop effective solutions for transforming growth factors.
- For instance, in 2021, Merck and BioMed X Institute (Germany-based institute) extend a collaboration to continue novel research in oncology and autoimmunity
Will the Emerging Market of India Catch the Eye of Transforming Growth Factor Providers?
India holds 45.2% share in the South Asia market, and is projected the progress the fastest at a CAGR of 11.3%. Investments in R&D and technology, especially in life sciences, have shifted from North America and Europe to Asia Pacific.
Developing economies such as India have ample skilled labour and qualified manpower at affordable costs, thereby increasing the scope for attracting outsourcing of biotech projects. This is making India an emerging and attractive market for the future.
What is the Outlook for China Regarding Transforming Growth Factors?
In 2020, China led the East Asia market with 46% share, and is expected to expand at a CAGR of 13.6% from 2021 to 2031. Manufacturers are focusing on expansion, which will lead to superior accessibility of transforming growth factor products in China.
- For instance, in December 2020, GE Healthcare collaborated with TVM Capital Healthcare, a specialist healthcare private equity firm, to support and accelerate growth of transformational healthcare companies across selected emerging healthcare markets in Association of Southeast Asian Nations (ASEAN) and the Middle East and North Africa (MENA) regions.
Thus, manufacturers are focusing on entering into partnerships and collaborations to expand their service offerings, which is likely to augment market growth in China.
Which Transforming Growth Factor Product is Driving Market Growth?
By product, bone morphogenetic proteins (BMPs) will lead the market with a share of 44.6% by 2031. High demand for these products is due to growing demand for stem cell culture research.
BMPs are used in stem cell culture research. Human pluripotent stem cells hold great potential for novel therapeutic approaches to regenerate or replace functionally-impaired tissues.
Why is GMP Grade Transforming Growth Factors So Popular?
GMP grade is a fast-growing segment at a CAGR 10.4%. Superior quality growth factors are needed as they are directly administered into the blood stream. As such, manufacturing with GMP guidelines becomes a necessity.
GMP facilities include a research space, storage warehouse for raw material, support laboratory areas, and also research areas. Facilities should be designed and organized according to 'Good Manufacturing Practice' for biological research and manufacturing.
- In 2020, Bio-techne announced the release of GMP proteins to support cell and gene therapy manufacturing workflows.
Will Oncology Research Continue Driving Demand for Transforming Growth Factors?
Oncology research is set to dominate the market with 27.3% revenue share by 2031. High share of this segment is due to increasing focus on oncology research.
Rising research & development funding in the field of oncology is projected to drive demand for transforming growth factors. The National Cancer Institute has invested in initiatives such as the NCI Community Oncology Research Program (NCORP), NCI Genomic Data Commons (GDC), National Clinical Trials Network (NCTN), Cancer Moonshot, the RAS Initiative, and others.
Which End User is Most Prominent in the Transforming Growth Factor Products Space?
Based on end user, pharmaceutical and biotechnology companies lead the way with more than 47% market share in 2021. There is growing efficacy of treatment for chronic diseases with the help of transforming growth factors. Growing incidence of cardiovascular disease and diabetes worldwide and treating them in biotechnological ways will provide lucrative opportunities for market growth.
As per the World Health Organization (WHO)’s reported data in 2019, prevalence of diabetes has surged from 117 Mn in 2000 to 422 Mn in 2030, and the number is set to continue to rise rapidly.
What Impact Has COVID-19 Had on the Industry?
COVID-19 has had both, a negative and positive impact on the healthcare industry, depending upon the demand and need for certain healthcare products.
For life science research, the impact of COIVD-19 was prominent and it halted research activities. Prior to COVID-19, research and studies were ongoing. However, the pandemic curtailed the progress of most research and academic institutes doing clinical research. Many research institutes were redirected towards COVID-19 research.
What is the Impact of Market Consolidation on This Business Space?
Considering consolation activities in the global market, mergers and acquisitions have emerged as one of the key growth strategies by market players. Prominent players are strengthening their product ranges through acquisitions and reaching out to key as well as emerging markets.
- In March 2019, Thermo Fisher Scientific announced an agreement to acquire Brammer Bio, a world leader in viral technologies. The company bolstered its position in viral vector manufacturing through this acquisition.
- In 2020, Sartorius, successfully closed the acquisition of the selected life science businesses of Danaher Corporation.
Key players are focusing on expansion in emerging regions and new revised product manufacturing to strengthen their market presence.
- In 2021, Sartorius strengthened its product portfolio for cell and gene therapies by acquiring a majority stake in CellGenix.
- In April 2021, Abcam and MEDx extended their precision medicine strategic partnership.
Similarly, recent developments related to companies manufacturing transforming growth factor products have been tracked by the team at Persistence Market Research, which are available in the full report.
Report Scope as per Transforming Growth Factor Industry Analysis
Historical Data Available for
Key Regions Covered
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Available upon Request
Key Segments Covered in Transforming Growth Factor Industry Research
- Bone Morphogenetic Proteins (BMPs)
- TGF-beta Proteins
- GMP Grade
- NON-GMP Grade
- Oncology Research
- Haematology Research
- Wound Healing Research
- Dermatology Research
- Cardiovascular Disease & Diabetes
- Cell therapy and Ex vivo manufacturing
By End User
- Pharmaceutical and Biotechnology Companies
- Research Centres & Academic Institutes
- CMOs and CDMOs
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