The recombinant human epidermal growth factor (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 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Recombinant human epidermal growth factor (EGF) is a 6.5 kDa protein originally isolated from the submaxillary glands of male mice. Recombinant human EGF is widely used in the cultivation of various cell lines, specifically epithelial cells. It stimulates the proliferation of epithelial cells and plays an important role in wound healing. Recombinant human EGF is commercially available as a sterile lyophilized powder or in solutions for cell culture applications.

Market Dynamics:
The growth of the recombinant human EGF market is majorly driven by increasing demand for recombinant human EGF in wound healing and cell culture applications. Recombinant human EGF promotes wound healing by stimulating re-epithelialization and angiogenesis. It is used in the treatment of various chronic and acute wounds such as diabetic foot ulcers, venous leg ulcers, and pressure ulcers. Increasing prevalence of diseases requiring wound care and surgical procedures is expected to boost the demand for recombinant human EGF over the forecast period. Recombinant human EGF is also widely used in cell culture media to enhance cell growth and proliferation. Growing cell culture industry for the production of biopharmaceuticals is another factor fueling the market growth. Additionally, advancements in recombinant DNA technology have improved the production of recombinant human EGF, thereby increasing its adoption.

SWOT Analysis
Strength:
- Recombinant Human (EGF) is highly effective as it replicates the mechanism of the naturally occurring human EGF protein. It promotes cell growth and proliferation which drives its high demand. Being produced through recombinant DNA technology makes it easily mass produced in a safe and regulated manner.

Weakness:
- High costs associated with RD and production of recombinant proteins make EGF an expensive product. Strict regulations regarding recombinant protein production also increases compliance costs.

Opportunity:
- Rising incidence of chronic diseases like cancer presents a huge market opportunity for EGF as it promotes wound healing. Growing biologics industry and increasing focus on regenerative medicines will further drive demand.

Threats:
- Availability of alternative wound healing products poses competition in the market. Stringent regulatory pathways for approval of new biologics acts as a barrier.

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 prevalence of chronic diseases. The market size for Recombinant Human (EGF) is projected to reach US$ 20,251.1 Mn by 2030 from US$ 10,251.1 Mn in 2023.

Regional analysis:

North America dominates the global Recombinant Human (EGF) market owing to high healthcare spending and increasing adoption of biologics in the region. The Asia Pacific market is expected to exhibit the fastest growth over the forecast period due to growing medical tourism, rising patient disposable incomes, and expanding biologics industry in the region.

Key players
Key players operating in the Recombinant Human (EGF) market are Thermo Fisher Scientific, FUJIFILM Irvine Scientific, Inc., ScienCell Research Laboratories, RD 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.