Epidermal Growth Factors (EGF) Market Structure by Size, Valuable Shares, Industry Research, Top Manufacturers, Demand & Forecast Till 2026
Epidermal growth factors (EGF) is a form of protein which promotes cell growth, cell differentiation, and cell proliferation by biochemical process which includes the binding of receptors known as epidermal growth factor receptors. These receptors are present in human tissues, especially in parotid gland and sub- mandibular gland. The epidermal growth factors are used in various anti-aging and hair care products as they regenerate the damaged skin and encourage healthy growth of the cell by cell proliferation and cell differentiation which led to clear skin and youthful complexion. Therefore, the usage of epidermal growth factors products are for advanced anti-aging and beauty therapies and are expected to gain traction in the near future. A highly trusted bacterium in biotechnology E. coli is the basic source for protein production required in modern medicine.
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Shifting Preferences Of Consumer Towards Minimally Invasive Procedures For The Skin Treatment Is Propelling The Market Growth Of 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 serve 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 based on product type, application, end-user, and geographical regions.
Based On Product Type
Based On Application
- EGF Cream
- EGF Lotion
- EGF Mask
Based On End-user
- Skin Clinics
- Dermatological Centers
Tailored Information as per niche requirement:
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By Regional segmentation, the study was conducted across regions such as North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America has the largest market share and this can be attributed to rising investments in the production of advanced 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 the Asia Pacific are expected to exhibit high growth on account of rising sales and production of epidermal growth factors over the forecast timeline. For instance, the South Korea cosmetics industry is rapidly increasing not only domestically but also internationally owing to product launches that include trends of luxury and quality at affordable prices.
Increasing Focus On Aesthetic Appeal And Healthy Skin Are Expected to Impact The Global Epidermal Growth Factors Market Growth Positively
Shifting preference of people towards healthy, glowing, and toned skin is the prime factor propelling the market growth. According to a report released by The Private Clinic, London, 2015, over 51,000 Britons opted for cosmetic surgery. Additionally, rising population of metrosexuals is further expected to provide growth opportunities for manufacturers in the market. Moreover, younger population, as well as mid-aged people, aspire for healthy and younger-looking skin and this is also expected to favor the market growth. On the contrary, minimal research which is carried out in the field and lack of evidence to prove the effectiveness of the treatment is expected to retrain the market growth.
The key players dominating 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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