Epidermal Growth Factors (EGF) Market Analysis
Epidermal Growth Factors (EGF) Market - Global Industry Insights, Trends, Size, Share, Outlook and Opportunity Analysis, 2018-2026
Epidermal growth factors (EGF) is a protein that helps in stimulation of cell growth, cell proliferation, and cell differentiation by binding to its respective receptors known as epidermal growth factor receptors. These receptors are found in several human tissues such as parotid gland and sub- mandibular gland. The epidermal growth factors are changing the scenario of the anti-aging skin and hair care products. The EGF products are designed in ways that regenerate the damaged skin and promote growth of healthy cells by cell differentiation and cell proliferation that results in clearer skin and youthful complexion. The epidermal growth factors that are commercially available are highly purified and refined using standard chromatographic techniques so as to retain the importance of the commercial product to match the human skin regeneration Use of epidermal growth factors has modernized the anti- aging therapies in the beauty and skin care market and are exhibiting a consistent rise in their demand. A highly trusted bacterium in biotechnology, E. coli is the basic source for protein production required in modern medicine.
Increasing inclination of the populace towards minimally invasive procedures for skin enhancement is fueling growth of the global epidermal growth factors market
The American Society of Plastic Surgeons (ASPS) released a report stating that around 15.9 million minimally invasive cosmetic procedures were performed in the U.S. during 2014-2015. These numbers provide a strong evidence to support the growth in the cosmetic industry and thereby suggesting high growth possibilities of global epidermal growth factors market.
The global epidermal growth factors market is segmented on the basis of product type, application, end user, and geographical regions.
On the basis of product type,
On the basis of application,
Based on end user,
Based on geographical regions, the global epidermal growth factors market is segmented as North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America is expected to account for major market share in the global epidermal growth factors market due to high capital investments in formulation of modern medicines. For instance, according to a CNBC report in 2017, certain companies in the U.S. are making human skin in labs to curb testing of the products on animals that involve major investments in the R&D. Europe and Asia Pacific with upcoming technologies in cosmetic industry are expected to show a rise in the sales and production of epidermal growth factors over the forecast period. For example, South Korea cosmetics industry is rapidly accelerating not only domestically but also internationally due to product launch that combines the trends of luxury and quality at affordable prices.
Aspiration of large population for better looking and healthy skin is acting as a primary driver for the global epidermal growth factors market growth
The primary driver of the global epidermal growth factors market is the increasing preference of people towards healthy, toned, and glowing skin. According to a report released by The Private Clinic, London, 2015, over 51,000 people in the U.K. opted for cosmetic surgery. Moreover, increasing population of metrosexuals further creates a favorable environment for growth of the market. Apart from this, mid-age population as well as younger population with acne problems striving for younger looking and healthy skin are also potential factors that could fuel the global epidermal growth factors market growth.
However, minimal research that has been carried out in the field and no strong evidences to prove the effectiveness of the treatment could hinder growth of the global epidermal growth factors market.
The key players operating in the global epidermal growth factors market include, Radiant Inc., Pavay, BIO-FD&C Co. Ltd., BIOEFFECT, LipoTrue, S.L., and Ytkangdaer.
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