Hepatocyte Growth Factors (HGFs) Market to Reach USD 141 Million by 2034: Rising Liver Illnesses and Surgical Procedures Driving Demand - Transparency Market Research, Inc.

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Jul 29, 2024, 05:38 ET

The global hepatocyte growth factors (HGFs) market is slated to grow on the basis of an exponential rise in the number of liver illnesses. Furthermore, rise in the number of surgical operations is fueling the demand for HGFs. These growth factors help in wound healing on a painless and speedy note.

WILMINGTON, Del., July 29, 2024 /PRNewswire/ -- The hepatocyte growth factors (HGFs) market is slated to attain a valuation of US$ 141 million by 2034. As of 2023, the market was valued at US$ 70.3 million, and is expected to advance at a CAGR of 6.5% in the coming decade.

Hepatocyte growth factors (HGFs) are amongst the potent mitogens for hepatocytes and various other cells that include keratinocytes and melanocytes apart from epithelial and endothelial cells. HGFs are also ligands for receptors encoded by c-met proto-oncogene.

After an injury to liver, mesenchymal stem cells initially induce the fibroblast growth factor 2 followed by an overexpression of HGF through induction by FGF-2. The HGF plays a protective role with regards to increasing the regenerative capacity of the hepatocytes.

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Growth factors are essential components owing to diverse applications such as bioprocessing, cell culture, and regenerative medicine. These growth factors are necessary in order to stimulate and regulate cellular activities, thereby ascertaining viability and optimal growth of the cells that are used in production of biopharmaceuticals.

Strategic collaborations between pharmaceutical companies and research institutions are also driving the market forward. These partnerships are fostering innovation and accelerating the development of novel HGF-based therapies. Regulatory agencies are increasingly recognizing the potential of HGFs, streamlining approval processes and providing incentives for the development of regenerative medicines.

However, the market faces challenges, including high development costs and stringent regulatory requirements. Ensuring the safety and efficacy of HGF-based therapies remains a critical concern, necessitating rigorous clinical trials and comprehensive safety assessments.

Hepatocyte Growth Factors (HGFs) Market Report Scope:

Report Coverage	Details
Forecast Period	2024-2034
Base Year	2020-2022
Size in 2023	US$ 70.3 Mn
Forecast (Value) in 2034	US$ 141.0 Mn
Growth Rate (CAGR)	6.5 %
No. of Pages	141 Pages
Segments covered	By Battery Type, By Application, By Voltage Type, By Component, By End-user

Key Takeaways from the Market Study

The hepatocyte growth factors (HGFs) market is expected to be valued at US$ 74.9 million in 2024.
From 2024 to 2034, the market for hepatocyte growth factors will expand 1.8x.
By type, phase III (ongoing) HGF trials are being undertaken by prominent healthcare and pharmaceutical companies.
A majority of HGF-based treatments will be directed towards oncology, given the rising prevalence of liver cancer.
Pharmaceutical and biotechnology companies are likely to make maximum use of HGFs for their research.

Key Market Drivers and Trends

The hepatocyte growth factors (HGFs) Market is experiencing substantial growth, driven by the increasing incidence of liver diseases, advancements in biotechnology, and a growing focus on regenerative medicine.
HGFs play a crucial role in liver regeneration and repair, making them a key component in the treatment of liver cirrhosis, hepatitis, and liver cancer. The impact of these factors is profound, as they offer new therapeutic avenues for patients with limited treatment options.
There is a notable trend towards developing recombinant HGFs and gene therapy approaches to enhance liver regeneration and improve patient outcomes. Technological advancements, such as CRISPR-Cas9 and other gene editing tools, are revolutionizing the field by enabling precise manipulation of genetic material to promote hepatocyte growth and function.

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Regions Profiled

North America is an important destination for hepatocyte growth factors' market players. This is attributed to the U.S. being home to several pharmaceutical companies, biotech forms, and research institutions that invest heavily in the R&D activities. Such entities are known for using hepatocyte growth factors (HGFs) on an extensive note for their experiments.
Asia Pacific's notable hepatocyte growth factors (HGFs) market growth is ascribed to Japan housing advanced healthcare infrastructure and a matured biopharmaceutical industry. China is also witnessing an extensive research and development in this regard.

Key Segments Covered

Type

Phase III (Ongoing)
Phase II (Approved)
Phase II (Ongoing)
Phase I
Preclinical

Application

Oncology
Cardiovascular
Central Nervous System
Hematological Disorders

End User

Pharmaceutical and Biotechnology Companies
CMOs & CDMOs
Research Centers & Academic Institutes

Region

North America
Europe
Asia Pacific
Latin America
Middle East & Africa

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