A polypeptide known as human epidermal growth factor (EGF) binds to the receptor EGFR, which triggers a series of reactions that activate gene pathways responsible for promoting cell growth and proliferation. This polypeptide can be expressed in both prokaryotic and eukaryotic biological systems, such as bacteria and plants. Recombinant human EGF (rhEGF) is particularly useful for treating acute and chronic wounds, such as diabetic foot ulcers, Stevens-Johnson syndrome, bedsores, scalds, and others. Additionally, the cosmetics industry also utilizes rhEGF to enhance skin texture, reduce scarring, and decrease hyperpigmentation. Furthermore, rhEGF can be incorporated into synthetic culture mediums that are used in bioengineering to produce prosthetic organs. Additionally, the growth and repair processes of epidermal cells in the eye can be stimulated using rhEGF, making it a promising treatment option for eye damage.
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Impact of the COVID-19 Pandemic:
On December 31, 2019, the initial reports of the coronavirus (COVID-19) outbreak emerged from Wuhan, China. Later, on March 11, 2020, the World Health Organization announced that COVID-19 had reached pandemic levels.
As per the World Health Organization’s Coronavirus (COVID-19) Weekly Epidemiological Update, the number of reported COVID-19 cases globally reached 180,492,131, with 3,916,771 deaths as of June 27, 2021.
Impact of COVID-19 on Demand and Supply of Recombinant Human EGF
The pandemic caused by COVID-19 and the resulting lockdowns worldwide have had significant financial effects on businesses in all industries, including the biotechnology sector, which has been particularly affected.
The biotechnology industry’s entire supply chain has been impacted by the COVID-19 pandemic, largely as a result of strict lockdown measures in various regions. This has resulted in a reduction in non-essential medical procedures, such as cataract and eye laser surgeries. According to the National Centre for Biotechnology Information (NCBI), a tertiary-care ophthalmology institute in Tamil Nadu, India, experienced a 96.6% decrease in outpatient department treatment (OPD) visits in 2020 compared to 2019, as a result of the national lockdown and subsequent movement restrictions.
It is anticipated that the global recombinant human EGF Market will experience restricted growth throughout the projected period due to the effects of the COVID-19 pandemic. This is because the use of recombinant human EGF in the treatment of eye damage is closely linked to ophthalmology procedures, which have declined during the pandemic.
The anticipated growth of the market during the forecast period is primarily attributed to the increasing amount of research conducted in the recombinant technology field.
During the forecast period, the market for recombinant human EGF is anticipated to grow due to an increase in cases of various wounds, such as chronic wounds, acute wounds, and corneal damage. According to a May 2020 report by Ecronicon, foot ulcers have a global prevalence of 4–10%, and around 17.2 million hospital visits each year are related to wound treatment.
Furthermore, market growth is anticipated to be supported by the rising number of research and development initiatives aimed at exploring the various applications of recombinant human EGF. An example of such efforts is demonstrated in a study published by the NCBI (National Center for Biotechnology Information) in July 2020, where the Ocean University of China and Luoyang Normal University developed a new nanoparticle delivery system for administering recombinant human EGF to the site of the wound. This innovative system enhances the bioavailability of EGF at the wound site and promotes sustained release, thereby improving its effectiveness.
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Restraints
The growth of the market for recombinant human EGF may encounter obstacles due to the high expenses and discrepancies in the effectiveness of various forms of the protein. A research study published by MDPI in April 2019 suggests that the full range of potential applications for EGF has not yet been realized in commercially available products, primarily because the production cost of recombinant human epidermal growth factor remains prohibitively high. Furthermore, an article published by the Analytical & Pharmaceutical Research Journal in 2017 indicates that certain isoforms of recombinant human EGF have limited bioavailability and stability. The same source also highlights that using structurally different forms of recombinant human EGF to treat diabetic ulcer wounds has yielded varying degrees of efficacy and inconsistent results.
Regional Analysis
The global market for recombinant human EGF is categorized by geographical region, which includes North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa.
Due to the increasing prevalence of diabetes, North America is projected to maintain its leading position in the global market for recombinant human EGF during the projected duration. As an example, the Centers for Disease Control and Prevention’s 2020 National Diabetes Statistics Report indicates that approximately 34.2 million people in the United States have diabetes, while 34.5% of the country’s population is prediabetic. The use of recombinant human EGF for treating diabetic foot ulcers is widespread, and this is expected to contribute to the growth of the recombinant human EGF market.
Prominent players
Prominent players, including ScienCell Research Laboratories, RayBiotech, Inc., STEMCELL Technologies, Inc., R&D Systems, Sino Biological, Inc. PeproTech, Inc., FUJIFILM Irvine Scientific, Inc., Prospec-Tany TechnoGene Ltd., Thermo Fisher Scientific, Creative BioMart, Abcam PLC, BioVision, Inc., Cell Sciences, Inc., Miltenyi Biotec, Eurofins DiscoverX, Tonbo Biosciences, EnQuire BioReagents, Cell Guidance Systems Ltd., and BioLegend, Inc. are operating in the global recombinant human EGF market.
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Table of Contents with Major Points:
Executive Summary
- Introduction
- Key Findings
- Recommendations
- Definitions and Assumptions
Executive Summary
Market Overview
- Definition of Recombinant Human EGF Market
- Market Dynamics
- Drivers
- Restraints
- Opportunities
- Trends and Developments
Key Insights
- Key Emerging Trends
- Key Developments Mergers and Acquisition
- New Product Launches and Collaboration
- Partnership and Joint Venture
- Latest Technological Advancements
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
Qualitative Insights Impact of COVID-19 on Global Recombinant Human EGF Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
Conclusion
Appendix
- Data Sources
- Abbreviations
- Disclaimer
TOC Continued…!
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