Platelet-derived Growth Factors (PDGFs) Market to Reach US$ 478 Million by 2034 | Exclusive Report by Transparency Market Research, Inc.

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Jul 23, 2024, 10:01 ET

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

Hospitals
Clinics
Others

Region

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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