PDGFs, or platelet-derived growth factors, are essential for
tissue regeneration and repair. This set of proteins has enormous
potential for use in a variety of medical fields, such as
dermatology, orthopedic surgery, and wound healing. It also
stimulates cell growth and division.
WILMINGTON, Del., July 23, 2024 /PRNewswire/ -- The
platelet-derived growth factors (PDGFs) market was projected to
attain US$ 228.7 million in 2023. It
is likely to garner a 7% CAGR from 2024 to 2034, and by 2034, the
market is expected to attain US$ 478
million.
The platelet-derived growth factors market has experienced
notable growth over the past few decades, driven by advancements in
biotechnology and increased research in regenerative medicine.
Treatments for genetic disorders, tissue regeneration techniques,
and organ replacements are just some of the areas where RM and gene
therapy are already helping to shift healthcare in developed
countries like U.S. from symptomatic to curative treatments that
are less costly in the long term.
The ultimate goal is prevention, trying apparently to lower
costs in healthcare, and today, with the increasing role of RM and
gene therapy to fight rare diseases and NCDs like cancers,
precision medicine can now be applicable. PDGFs are significant
cell growth, proliferation, and angiogenesis factors and now have
an increasingly relative role as critical treatment criteria for a
range of medical conditions, from wound healing and cardiovascular
diseases to cancers.
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Advancements and Growth Trends:
The Platelet-derived Growth Factors (PDGFs) market has
experienced notable growth over the past few decades, driven by
advancements in biotechnology and increased research in
regenerative medicine. Treatments for genetic disorders, tissue
regeneration techniques, and organ replacements are just some of
the areas where RM and gene therapy are already helping to shift
healthcare in developed countries like U.S. from symptomatic to
curative treatments that are less costly in the long term. The
ultimate goal is prevention, trying apparently to lower costs in
healthcare, and today, with the increasing role of RM and gene
therapy to fight rare diseases and NCDs like cancers, precision
medicine can now be applicable. PDGFs are significant cell growth,
proliferation, and angiogenesis factors and now have an
increasingly relative role as critical treatment criteria for a
range of medical conditions, from wound healing and cardiovascular
diseases to cancers.
The PDGF market has been growing significantly over the past
decade due to increased awareness about PDGF-based therapies. The
growth in this market is buoyed upward by the rising incidences of
chronic diseases, the geriatric population susceptible to disease
states requiring PDGF intervention, for instance. For example,
diabetes prevalence has increased, causing both urgency and market
growth in developing better, effective wound-healing treatments.
Together, they will likely result in new therapeutic applications
and innovative products.
The increasing investment into research and development, along
with a rising number of clinical trials, in general, would also
lead to industry growth. Increasing market demand could essentially
result from growing healthcare infrastructures in emerging
economies and the general uptake of regenerative medicine
approaches. Healthcare spending around the world amounted to
$7.8 trillion in 2017. By 2020, it
had surged to $9 trillion as
governments raced to stem the first wave of the pandemic, according
to data collated by the World Health Organization.
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Key Findings of Market Report
- The orthopedic surgery section is expected to have a
significant share over the projection period, based on
application.
- To achieve favorable results, orthopedic surgeries—which
include operations like bone grafting, spine fusion, and joint
reconstruction—frequently require efficient tissue regeneration and
repair, which is why PDGFs are a priceless supplementary
treatment.
- To improve patient recovery and encourage bone healing,
orthopedic surgeons are increasingly using PDGF-based treatments
into their surgical regimens. Globally, the prevalence of
orthopedic problems such as degenerative disc diseases, fractures,
and osteoarthritis is increasing due to sedentary lifestyles and
aging populations.
Platelet-derived Growth Factors Market Report
Scope:
Report
Coverage
|
Details
|
Forecast
Period
|
2024-2034
|
Base
Year
|
2020-2022
|
Size in 2023
|
US$ 228.7 Mn
|
Forecast (Value) in
2034
|
US$ 478.0 Mn
|
Growth Rate
(CAGR)
|
7 %
|
No. of
Pages
|
213
Pages
|
Segments
covered
|
By Type, By
Application, By Region, By End-user
|
Market Trends For Platelet-derived Growth Factors
(PDGFs)
- The PDGF market has been growing significantly over the past
decade due to increased awareness about PDGF-based therapies. The
growth in this market is buoyed upward by the rising incidences of
chronic diseases, the geriatric population susceptible to disease
states requiring PDGF intervention, for instance.
- For example, diabetes prevalence has increased, causing both
urgency and market growth in developing better, effective
wound-healing treatments. Together, they will likely result in new
therapeutic applications and innovative products.
- The increasing investment into research and development, along
with a rising number of clinical trials, in general, would also
lead to industry growth. Increasing market demand could essentially
result from growing healthcare infrastructures in emerging
economies and the general uptake of regenerative medicine
approaches.
- Healthcare spending around the world amounted to $7.8 trillion in 2017. By 2020, it had surged to
$9 trillion as governments raced to
stem the first wave of the pandemic, according to data collated by
the World Health Organization.
Global Market for Platelet-derived Growth Factors (PDGFs):
Regional Outlook
- As per the most recent market prediction for platelet-derived
growth factors (PDGFs), North
America has a dominant position, with the United States emerging as the top country
in 2023. The United States has a
strong regulatory environment and a well-developed healthcare
system, which make it easier to research, approve, and market
innovative therapeutic interventions—including PDGF-based
therapies.
- Major market catalysts include the region's high level of
inventive research, which involves vibrant academic communities,
associations of biotechnology businesses, and globally recognized
pharmaceutical enterprises. In addition, the growing number of
chronic illnesses in the US, including diabetes and cardiovascular
disorders, highlights the urgent clinical need for remedies for
tissue regeneration and wound healing, areas in which PDGFs show
great therapeutic promise.
- An aging population, which is more prone to age-related
illnesses and injuries needing regenerative treatments, is another
factor driving this need.
Platelet-derived Growth Factors (PDGFs) Market: Key
Players
The market is highly concentrated, with only a few major
companies. The primary tactics employed by top market participants
are product portfolio expansion and mergers and acquisitions. The
following companies are well-known participants in the
platelet-derived growth factors (PDGFs) market:
- Thermo Fisher Scientific Inc. (PeproTech Inc.)
- Stryker
- Sigma-Aldrich (Merck KGaA)
- OriGene Technologies
- iXCells Biotechnologies
- Abbexa Ltd.
- Bio-Techne
- STEMCELL Technologies
- Neuromics
- GenScript Biotech Corporation
- Other Players
Key Developments
- In April 2024, Bio-Techne
Corporation, a worldwide life sciences firm that provides new
tools and bioactive reagents to the research as well as clinical
diagnostic communities, declared a key milestone in its dedication
to offering cutting-edge solutions to its clients. A strategic
distribution partnership between Bio-Techne and Thermo Fisher
Scientific, a top supplier of laboratory supplies and services in
Europe, will go into effect on
May 1, 2024.
- Thermo Fisher Scientific Inc., a global leader in supporting
research, completed the acquisition of PeproTech, a top
producer and developer of recombinant proteins, on December 30, 2021, for a cash transaction price
of around US$ 1.85 billion.
Global Platelet-derived Growth Factors (PDGFs) Market
Segmentation
Type
- PDGF-AA
- PDGF-BB
- PDGF-CC
- PDGF-DD
- PDGF-AB
Application
- Orthopedic Surgeries
- Cardiac Surgeries
- Cancer Treatment
- Wound Healing
- Others
End User
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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