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Human Epidermal Growth Factor Market: Major Trends Reshaping the Future of the Industry
Human Epidermal Growth Factor
What Will the Human Epidermal Growth Factor Industry Market Size Be by 2025?
The market size for the human epidermal growth factor has experienced vigorous growth in the recent past. It is projected to escalate from $2.18 billion in 2024 to $2.39 billion in 2025, with a compound annual growth rate (CAGR) of 9.3%. Factors such as the rising aging population susceptible to skin conditions, accelerated government backing and funding for biopharmaceutical advances, the growing occurrence of diabetes significantly increasing chronic wound cases, collaborative efforts between pharmaceutical enterprises and research institutes, and the escalating consumer inclination for non-invasive skincare interventions can be attributed to the growth during the historic period.
What's the Long-Term Growth Forecast for the Human Epidermal Growth Factor Market Size Through 2029?
In the upcoming years, the human epidermal growth factor market is anticipated to witness substantial growth and is predicted to expand to $3.37 billion by 2029 with an estimated compound annual growth rate (CAGR) of 9.0%. Numerous factors contribute to this projected expansion during the forecast period, including an escalating demand for regenerative medicine and treatments involving wound healing, a surge in cases of chronic skin diseases and injuries, an increase in awareness of anti-aging and skincare products with hegf content, amplified investment in biotechnological research and advancement, and an uptrend in the embrace of tailored medicine and aimed therapies. The forecast period will also be marked by significant trends such as the progress in recombinant dna technology, enhancement in protein engineering promoting hegf stability and efficiency, technological amalgamation of nanotechnology, breakthroughs in bioprocessing methods, and progress in cell culture technology.
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What Are the Key Growth Drivers Fueling the Human Epidermal Growth Factor Market Expansion?
The anticipated surge in the adoption of personalized medicine is likely to stimulate the expansion of the human epidermal growth factor market in the future. Personalized medicine offers a medical solution tailored to an individual's genetic makeup, lifestyle, and environment, which improves the precision and effectiveness of treatment. The growth of personalized medicine is attributed to technological advancements in genomics, which facilitate quick, affordable, and accurate detection of personalized genetic profiles for custom treatments. HER2 contributes to personalized medicine by helping doctors categorize tumors based on HER2 protein over*expression, which assists in choosing targeted therapies for better treatment results and minimizing needless side effects. For example, the Personalized Medicine Coalition, a professional membership organization based in the U.S, disclosed that in 2022, around 34% of all approved therapies comprised of 12 new personalized medicines, indicating a substantial rise compared to past years. Hence, the surge in the utilization of personalized medicine is propelling the human epidermal growth factor market's expansion. Due to the Need for Advanced Wound Healing Therapies, Rising Clinical Trials Fuel Market Growth
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What Are the Key Trends Driving Human Epidermal Growth Factor Market Growth?
Leading firms in the human epidermal growth factor market are directing their efforts towards innovating technological enhancements such as an AI-driven immunohistochemistry (IHC) scoring solution, aiming to enhance the accuracy, efficiency, and repeatability of biomarker identification and cancer diagnosis. An AI-boosted IHC scoring solution is essentially a technology employing AI systems to automatically scrutinize and calculate protein expression in tissue samples stained via IHC, increasing diagnostic precision, reliability, and speed in diagnostic pathology. For example, in September 2023, Ibex Medical Analytics, a firm based in Israel, introduced Ibex Breast HER2, promoting preciseness and uniformity of HER2 biomarker scoring in breast cancer, particularly in complex HER2-low cases, facilitating improved treatment routes and elevated patient results. Its primary advantages include extremely accurate, repeatable, and effective HER2 IHC scoring, assisting pathologists in forming confident, impartial choices for targeted therapy selection.
How Is the Human Epidermal Growth Factor Market Segmented?
The human epidermal growth factor market covered in this report is segmented -
1) By Product Type: Recombinant Human Epidermal Growth Factor, Natural Human Epidermal Growth Factor
2) By Formulation: Injectable Form, Topical Form, Oral Form
3) By Distribution Channel: Direct Sales, Online Pharmacies, Retail Pharmaceis, Hospital Pharmacies, Specialty Clinics
4) By Application: Dermatology, Oncology, Opthalmology, Wound Healing, Cosmetic Procedures
5) By End-User: Hospitals, Clincs, Research Institutes, Other End Users
Subsegments:
1) By Recombinant Human Epidermal Growth Factor: Injectable solutions, Oncology therapeutics, Eye drops, Wound healing agents
2) By Natural Human Epidermal Growth Factor: Plasma-derived products, Colostrum-based products, Amniotic fluid-derived products, Salivary-derived formulations
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Which Companies Are Leading the Charge in Human Epidermal Growth Factor Market Innovation?
Major companies operating in the human epidermal growth factor market are Pfizer Inc., Johnson & Johnson Services Inc, F. Hoffmann-La Roche AG, Merck & Co. Inc., Bayer AG, AstraZeneca plc, Novartis AG, GlaxoSmithKline Plc, Amgen Inc., Lonza Group AG, STEMCELL Technologies, Abcam plc., BioLegend Inc., Bharat Biotech International Limited, RayBiotech Inc., Enzo Life Sciences Inc., Neocutis S.A, Proteintech Group Inc., Creative BioMart Co. Ltd., Abbkine Scientific Co. Ltd.
Which Regions Are Leading the Global Human Epidermal Growth Factor Market in Revenue?
North America was the largest region in the human epidermal growth factor market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the human epidermal growth factor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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