PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1606460
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1606460
Insulin-like growth factors market size was valued at USD 277.90 Million in 2023, expanding at a CAGR of 5.33% from 2024 to 2032.
Insulin-like growth factors (IGFs) are naturally occurring proteins with structural similarity to insulin, playing a crucial role in growth and development. Primarily produced in the liver, IGFs are essential for cellular growth, tissue development, and overall metabolism regulation. The two main types, IGF-1 and IGF-2, function by binding to specific receptors on cell surfaces, activating pathways that promote cell division, protein synthesis, and muscle growth. IGF-1 is crucial for postnatal growth and is involved in tissue repair and regeneration.
Insulin-like Growth Factors Market- Market Dynamics
Increasing demand for regenerative medicine to propel market growth
The regenerative medicine sector is expanding, with a projected growth rate of 20% annually. This is expected to boost the demand for IGF-1 due to its role in tissue repair and muscle regeneration. Besides, the growing prevalence of diabetes, age-related disorders, and the rising focus on pediatric endocrinology are other factors projected to boost the growth of the insulin-like growth factors market. However, treatments involving IGF-1 therapies can be costly, limiting accessibility and adoption, especially in low- to middle-income countries. Moreover, the advancements in genetic engineering and the ongoing research & development efforts focused on understanding the mechanisms of IGFs are projected to provide massive growth opportunities for the market. Furthermore, governments and private entities are boosting funding for rare disease research, which is boosting industry growth.
Insulin-like Growth Factors Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 5.33% over the forecast period (2024-2032)
Based on type segmentation, mechano growth factor is predicted to grow at the fastest rate during the forecast period.
Based on end-user segmentation, hospitals was the leading segment in 2023
On the basis of region, the North America insulin-like growth factors market was the leading revenue generator in 2023
The Global Insulin-like Growth Factors Market is segmented on the basis of Type, Application, End User, and Region.
The market is divided into three categories based on type: somatomedin C, mechano growth factor, and IGF 1. The mechano growth factor sector is estimated to dominate the market. This is primarily due to its ability to promote muscle protein production. Its strong mitogenic effect supports cell proliferation, aiding tissue regeneration, wound healing, and the development of muscles and organs.
The market is divided into five categories based on application: breast cancer, alzheimer's disease, muscular dystrophy, huntington disease, and others. The muscular dystrophy sector dominates the market and is likely to maintain its dominance during the forecast period. This growth is driven by the increasing need for effective treatments to counter muscle degeneration and the rising focus on regenerative medicine.
Insulin-like Growth Factors Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business.
A key driver in the insulin-like growth factor market is the increased demand for regenerative and therapeutic applications. Competitors prioritize strategies like expanding geographical reach and refining product portfolios to strengthen their market presence. Emphasis is placed on research and development for innovative products, allowing companies to meet evolving healthcare demands. Strategic partnerships, mergers, and acquisitions are also common, helping companies diversify and secure their competitive standing. Additionally, top players leverage regional expansion and customized solutions to enhance customer engagement, establishing themselves as leaders while mitigating competitive threats. This multi-faceted approach aligns with the industry's growth trajectory and customer needs.
In October 2024, Eton Pharmaceuticals entered into an agreement to acquire Increlex(R) (mecasermin injection) from Ipsen S.A., with the deal anticipated to close by year-end 2024. Increlex(R) is vital for treating severe IGF-1 deficiency, an ultra-rare condition, aligning with Eton's commitment to rare disease treatment.