Unmet Medical Needs & Diverse Applications Drive the Global Growth Factors (Blood and Tissue) Market, According to New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) June 16, 2014 -- Follow us on LinkedIn – Fuelled by the growing importance of accurate and cost-effective therapeutic solutions for the treatment of complex diseases, the market for growth factors (blood and tissue) is expected to witness significant gains in the coming years. In a world where there are no approved treatments for a wide range of diseases, growth factor (blood and tissue) based drugs are emerging as promising and cost-effective therapeutic solutions to address the unmet medical needs of the world’s burgeoning population. Growth factors hold promising applications in chemotherapy-associated anemia, wound healing, and prevention of neurodegenerative diseases. Growth factors also find use as potential therapeutic agents for critical conditions such as granulocytopenia, leukemia, aplastic anemia, bone marrow transplantation, and myelodysplastic syndrome. The development of therapies based on growth factors is expected to address critical medical issues that currently lack effective treatments such as Parkinson’s disease and Alzheimer’s disease. Despite the opportunities for growth, patent expiries of major biologic drugs, influx of biosimilars and safety and efficacy issues of erythrocyte stimulating agents (ESAs) will challenge growth in the market.
As stated by the new market research report on Growth Factors (Blood and Tissue), the United States represents the largest market worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 23% over the analysis period. Rising incidence of diseases such as chronic kidney disease and the ensuing increase in dialysis patient population is expected to enhance demand for growth factor-based drugs. Growth will also be driven by increased focus on biotechnology research, increased spending on healthcare services, and governmental funding for healthcare infrastructure development.
Blood growth factors, comprising Erythropoietins, Colony stimulating factors, Interferons, and Interleukins, are gaining popularity led by the emergence of several new therapeutic applications, such as the use of colony stimulating factors in neutropenia prevention and treatment. In the coming years, the market for Interferons is expected to benefit from the rising demand for specialized treatment for hepatitis B, hepatitis C, leukemia, sclerosis, renal cell carcinoma, and other diseases. Sustained R&D efforts in this space and growing awareness about interferon treatment will benefit growth in the market. However, patent expiry of interferon drugs, and high cost of interferon-based therapeutics and research operations will act as deterrents to growth. Tissue growth factors show promising potential in wound healing, treatment of neurodegenerative diseases, and growth of musculoskeletal tissues. Interferons will be a strong area of focus worldwide due to its growing importance in the treatment of Hepatitis B and Hepatitis C infections.
Major players covered in the report include Alseres Pharmaceuticals Inc., Amgen Inc., Bayer HealthCare Pharmaceuticals Inc., F. Hoffmann-La Roche Ltd, Johnson & Johnson, Merck Serono International S.A., FibroGen Inc., Sanofi, Scil Proteins GmbH, Biogen Idec Inc., PeproTech Inc., BioMimetic Therapeutics Inc., and Sangamo BioSciences Inc., among others.
The research report titled “Growth Factors (Blood and Tissue): A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of growth drivers, market trends, issues, segmental analysis, mergers, acquisitions, and other strategic industry activities of major companies. The report provides market estimates and projections for all major geographic markets, including the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, and the Rest of Europe), Asia-Pacific, and the Rest of World.
For more details about this comprehensive market research report, please visit: http://www.strategyr.com/Growth_Factors_Blood_And_Tissue_Market_Report.asp.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Telephone: 408-528-9966
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Raghu Gopal, Global Industry Analysts Inc, +1 408-528-9966, [email protected]
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