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Recombinant Human Epidermal Growth Factor (EGF) Segment Fueling Growth of EGF Market

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Niranjan Mardakar
Recombinant Human Epidermal Growth Factor (EGF) Segment Fueling Growth of EGF Market

The global Recombinant Human Epidermal Growth Factor (EGF) Market is estimated to be valued at US$ 12246.47 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 Overview:

Recombinant Human Epidermal Growth Factor (EGF) is a protein involved in cellular growth, proliferation and differentiation. EGF promotes tissue regeneration and wound healing. It is used in cell culture to stimulate cell proliferation.

Market key trends:

One of the key trends in the EGF market is the increasing investment in research activities utilizing EGF in tissue engineering and regenerative medicines. EGF plays a vital role in wound healing by stimulating re-epithelialization and angiogenesis. Researchers are exploring the potential of EGF in accelerating wound healing, especially chronic wounds. EGF also shows promise in aiding nerve regeneration and repair. Biopharma companies are investing heavily in developing innovative therapies utilizing EGF's tissue regenerative properties to treat chronic and acute wounds, neurological disorders, and other degenerative conditions. This is expected to drive the demand for recombinant EGF, fueling the market growth over the forecast period.

Segment Analysis

The Global Recombinant Human EGF Market Size is segmented by application into scientific research, biopharmaceutical, and cosmetics. The scientific research segment currently dominates the market due to the extensive use of recombinant human EGF in various life science research such as cell culture, molecular and genetic research. Recombinant human EGF finds wide application in studying cell growth, proliferation and differentiation which has propelled the growth of this segment.

Key Takeaways

The global recombinant human (EGF) market is expected to witness high growth, exhibiting CAGR of 9.3% over the forecast period, due to increasing research activities in life sciences.

Regional analysis

North America dominates the global recombinant human (EGF) market currently due to heavy investments in biotechnology and life science research in the region. Asia Pacific is expected to be the fastest growing market owing to rising investments by governments and companies in research and development.

Key players

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.

Read Our More Blogs : https://www.rapidwebwire.com/recombinant-human-egf-market-size-share-analysis-2023-2030/

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