The global hepatocyte growth factors (HGFs) market is slated
to grow on the basis of an exponential rise in the number of liver
illnesses. Furthermore, rise in the number of surgical operations
is fueling the demand for HGFs. These growth factors help in wound
healing on a painless and speedy note.
WILMINGTON, Del., July 29,
2024 /PRNewswire/ -- The hepatocyte
growth factors (HGFs) market is slated to attain a
valuation of US$ 141 million by 2034.
As of 2023, the market was valued at US$ 70.3 million, and is expected to
advance at a CAGR of 6.5% in the coming
decade.
Hepatocyte growth factors (HGFs) are amongst the potent mitogens
for hepatocytes and various other cells that include keratinocytes
and melanocytes apart from epithelial and endothelial cells. HGFs
are also ligands for receptors encoded by c-met proto-oncogene.
After an injury to liver, mesenchymal stem cells initially
induce the fibroblast growth factor 2 followed by an
overexpression of HGF through induction by FGF-2. The HGF plays a
protective role with regards to increasing the regenerative
capacity of the hepatocytes.
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Growth factors are essential components owing to diverse
applications such as bioprocessing, cell culture, and regenerative
medicine. These growth factors are necessary in order to stimulate
and regulate cellular activities, thereby ascertaining viability
and optimal growth of the cells that are used in production of
biopharmaceuticals.
Strategic collaborations between pharmaceutical companies and
research institutions are also driving the market forward. These
partnerships are fostering innovation and accelerating the
development of novel HGF-based therapies. Regulatory agencies are
increasingly recognizing the potential of HGFs, streamlining
approval processes and providing incentives for the development of
regenerative medicines.
However, the market faces challenges, including high development
costs and stringent regulatory requirements. Ensuring the safety
and efficacy of HGF-based therapies remains a critical concern,
necessitating rigorous clinical trials and comprehensive safety
assessments.
Hepatocyte Growth Factors (HGFs) Market Report
Scope:
Report
Coverage
|
Details
|
Forecast
Period
|
2024-2034
|
Base
Year
|
2020-2022
|
Size in 2023
|
US$ 70.3 Mn
|
Forecast (Value) in
2034
|
US$ 141.0 Mn
|
Growth Rate
(CAGR)
|
6.5 %
|
No. of
Pages
|
141
Pages
|
Segments
covered
|
By Battery Type, By
Application, By Voltage Type, By Component, By End-user
|
Key Takeaways from the Market Study
- The hepatocyte growth factors (HGFs) market is expected to be
valued at US$ 74.9 million in
2024.
- From 2024 to 2034, the market for hepatocyte growth factors
will expand 1.8x.
- By type, phase III (ongoing) HGF trials are being undertaken by
prominent healthcare and pharmaceutical companies.
- A majority of HGF-based treatments will be directed towards
oncology, given the rising prevalence of liver cancer.
- Pharmaceutical and biotechnology companies are likely to make
maximum use of HGFs for their research.
Key Market Drivers and Trends
- The hepatocyte growth factors (HGFs) Market is experiencing
substantial growth, driven by the increasing incidence of liver
diseases, advancements in biotechnology, and a growing focus on
regenerative medicine.
- HGFs play a crucial role in liver regeneration and repair,
making them a key component in the treatment of liver cirrhosis,
hepatitis, and liver cancer. The impact of these factors is
profound, as they offer new therapeutic avenues for patients with
limited treatment options.
- There is a notable trend towards developing recombinant HGFs
and gene therapy approaches to enhance liver regeneration and
improve patient outcomes. Technological advancements, such as
CRISPR-Cas9 and other gene editing tools, are revolutionizing the
field by enabling precise manipulation of genetic material to
promote hepatocyte growth and function.
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Regions Profiled
- North America is an
important destination for hepatocyte growth factors' market
players. This is attributed to the U.S. being home to several
pharmaceutical companies, biotech forms, and research institutions
that invest heavily in the R&D activities. Such entities are
known for using hepatocyte growth factors (HGFs) on an extensive
note for their experiments.
- Asia Pacific's notable
hepatocyte growth factors (HGFs) market growth is ascribed to
Japan housing advanced healthcare
infrastructure and a matured biopharmaceutical industry.
China is also witnessing an
extensive research and development in this regard.
Key Segments Covered
Type
- Phase III (Ongoing)
- Phase II (Approved)
- Phase II (Ongoing)
- Phase I
- Preclinical
Application
- Oncology
- Cardiovascular
- Central Nervous System
- Hematological Disorders
End User
- Pharmaceutical and Biotechnology Companies
- CMOs & CDMOs
- Research Centers & Academic Institutes
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East &
Africa
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