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Research Reports

The global Growth Factors Market is estimated to grow irresistibly in the forecast period. With the increasing involvement of consumers in decision-making, digital innovation is witnessing a greater demand. Also, the use of data analytics and interoperable data is asking for public-private collaborations concerning organic and inorganic development. This would, in turn, pave the way for more cordial relationships between the end-users and the manufacturers/key players.

As per Persistence Market Research’s latest revised industry analysis, the global growth factors market was valued at over US$ 1.7 Bn in 2020, and is expected to exhibit a CAGR of close to 7% over the forecast period (2021-2031).

According to the World Health Organization (WHO), cancer caused around 9.9 million deaths worldwide in 2020. In addition, around 19.2 million people across the world were suffering from cancer. Also, increasing occurrence of autoimmune disorders is anticipated to drive demand for growth factors.

Rising prevalence of autoimmune diseases and cancer and the benefits of cytokine and growth factors therapy in the treatment of these diseases are expected to complement market growth over the coming years.

Growing research in the field of wound healing and skin regeneration is also expected to favor expansion of the global growth factors market. However, high cost associated with GMP grade growth factors is estimated to hamper market growth.

Acquisitions, collaborations, and partnership agreements are rife in this landscape:

  • PPD, Inc., a leading clinical research organization, was acquired by Thermo Fisher Scientific in April 2021, expanding the company’s service offerings to pharma and biotech customers.
  • Merck and BioMed X Institute extended their collaboration to continue novel oncology and autoimmunity research in 2021.
  • In 2021, Lonza and ValenzaBio entered into a manufacturing agreement to rapidly advance VB421, an anti-IGF-1R antibody for autoimmune diseases.

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Company Profiles:

  • Thermo Fisher Scientific
  • Lonza Group AG
  • Merck KGaA
  • General Electronics Company
  • F. Hoffmann-La Roche Ltd
  • Applied Biological Materials (abm), Inc.
  • Abcam plc.
  • Cell Signaling Technology, Inc.
  • Meridian Bioscience Inc.
  • Sartorius CellGenix GmbH
  • Bio-Techne.
  • Proteintech Group, Inc.
  • Miltenyi Biotec
  • Creative Bioarray
  • Akron Biotech
  • Sino Biological Inc.
  • Repligen corporation
  • PeproTech Inc.
  • Others

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Key Takeaways from Market Study

“Rising prevalence of cancer, preference toward use of regenerative medicines, and new product launches & approvals are expected to drive market growth over the coming years,” says an analyst of Persistence Market Research.

Demand-side Drivers:

Market Opportunities:

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Market Competition

New product approvals, launches, collaborations, agreements, and partnerships have emerged as the main growth strategy implemented by leading players. By focusing on these strategies, key market players are strengthening their existing product portfolios to expand their geographic footprints.

What Does the Report Cover?

Persistence Market Research offers a unique perspective and actionable insights on the growth factors market in its latest study, presenting a historical demand assessment of 2016 – 2020 and projections for 2021 – 2031.

The research study is based on the product (transforming growth factors (TGF), epidermal growth factors (EGFs), platelet-derived growth factors (PDGFs), fibroblast growth factors (FGFs), insulin-like growth factors (IGFs), vascular endothelial growth factors (VEGFs), hepatocyte growth factors (HGFs), tumour necrosis factors (TNFs), interleukins, and others), grade (GMP grade and NON-GMP grade), application (oncology research, haematology research, wound healing research, dermatology research, cardiovascular disease & diabetes, cell therapy and ex vivo manufacturing, and others), and end user (pharmaceutical and biotechnology companies, research centres & academic institutes, and CMOs & CDMOs), across seven key regions of the world.

About Us: Persistence Market Research

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