The recombinant human epidermal growth factor (EGF) finds widespread application in cell culture applications, resulting in increased demand. EGF is a small polypeptide growth factor that helps in cell growth, proliferation, and differentiation by binding to its receptor EGFR. Due to its ability to stimulate cell proliferation, EGF has emerged as an important biologic in biomedical research and therapeutics.
The global recombinant human EGF market is estimated to be valued at US$ 10,251.1 Mn in 2023 and is expected to exhibit a CAGR of 9.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing application of recombinant human EGF in the pharmaceutical industry has been a major trend shaping the market growth over the recent years. EGF is used in cell culture to help stimulate cell growth and division by binding to EGFR on the cell surface. It finds widespread use as a supplement in cell culture media to enhance cell growth, viability, and expansion for various biologics manufacturing applications. The increasing demand for biopharmaceuticals and rising biologics manufacturing has fuelled the need for EGF as an important cell culture supplement. Advanced therapies such as stem cell therapy, gene therapy and regenerative medicine have provided a significant boost to the EGF market.
SWOT Analysis
Strength: Recombinant human EGF poses several advantages over naturally extracted EGF like consistency in quality, stability and ability to produce on a large scale. It helps grow and maintain various cell types in cellular and tissue culture systems.
Weakness: Commercial production of rhEGF requires specialized expertise and infrastructure which increases the cost of production. Regulatory hurdles related to biosimilars also limit its widespread adoption.
Opportunity: Rising stem cell research and tissue engineering provide numerous opportunities for use of rhEGF in development of novel therapeutics. Increasing biopharmaceutical R&D investment especially in Asia Pacific region will drive its demand.
Threats: Alternative growth factors can substitute rhEGF for certain applications. Stringent quality standards and regulations around biosimilars remain a challenge.
Key Takeaways
The global recombinant human (EGF) market is expected to witness high growth over the forecast period of 2023 to 2030 supported by rising stem cell research and tissue engineering applications.
Regional analysis: North America dominated the market in 2023 with over 35% share owing to presence of major players and strong biopharmaceutical industry in the US and Canada. Asia Pacific is expected to witness fastest growth over forecast period led by China, Japan and India where governments are increasingly promoting life sciences sector.
Key players operating in the recombinant human (EGF) market are Thermo Fisher Scientific, FUJIFILM Irvine Scientific, Inc., ScienCell Research Laboratories, R&D Systems, Abcam PLC, Cell Sciences, Inc., Eurofins DiscoverX, PeproTech, Inc., RayBiotech, Inc., Prospec-Tany TechnoGene Ltd., Miltenyi Biotec, Tonbo Biosciences, BioLegend, Inc., EnQuire BioReagents, STEMCELL Technologies Inc., Cell Guidance Systems Ltd., Creative BioMart, Sino Biological Inc., and BioVision, Inc. Recombinant human EGF has applications in cell culture, tissue engineering, regenerative medicine and growing conditions for stem cells which is driving these companies to continuously invest in R&D to develop new grades and applications of rhEGF.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
