New York, July 05, 2022 (GLOBE NEWSWIRE) -- Growing significance of genomics and proteomics has been contributing to the growth of the global vascular endothelial growth factor (VEGF) market. The market was valued at US$ 195.4 Mn at the end of 2021 and is projected to expand at a CAGR of 10.7% over the forecast period (2022-2032), according to Persistence Market Research.
Tumor cells, keratinocytes, platelets, renal mesangial cells, and macrophages are among the cells that produce VEGF. VEGF's effects are not restricted to the vascular system; it also plays a part in typical functional roles, such as bone formation, hematopoiesis, wound healing, and development, all of which will provide profitable potential for the market to grow at a higher rate over the coming years.
Increasing incidence of coronary artery diseases has led to the development of epicardial injections. Hence, patients with coronary artery disease can benefit from therapeutic angiogenesis while undergoing surgical revascularization.
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Epicardial injection administration of VEGF-A mRNA into the cardiac muscle for transient protein expression of VEGF-A presented superiority as compared to the approach of gene therapy with plasmid DNA for enhancing myocardial perfusion, reducing infarct size and improving overall clinical outcomes. Developing focus on the application of VEGF in wound healing and increasing investments in research are anticipated to fuel market growth going forward.
- In a recent study, the growth and migration of encapsulated rVEGF- microparticles and rVEGF121 in HUVEC cells demonstrated that rVEGF121 and rVEGF-encapsulated microparticles expedite wound closure faster than controls, confirming the stimulatory effect of rVEGF and encapsulated particles.
Through the use of a suitable sustained delivery mechanism, this approach can be used effectively for therapeutic applications. As a result, it can be employed for wound closure and as a proangiogenic therapeutic, pending additional in vivo proof.
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Moreover, novel techniques are emerging to understand the applications of VEGF protein in chronic disease therapeutics. Key players have employed several research approaches to understand the commercial potential of viable therapeutic applications of VEGF protein.
Key Takeaways from Market Study
- By VEGF type, the human vascular endothelial growth factor held 60.1% market value share in 2021.
- By expression host, the E. coli expression system segment dominated the market with more than 40% share in 2021.
- By application, cell culture accounted for more than 25% revenue share in 2021.
- More than 61% of the global market share was held by pharmaceutical and biotechnology companies in 2021.
- By region, North America is the leading market with a share of 43.3% in 2021.
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“VEGF adoption in drug development and increasing demand for VEGF therapy are expected to propel market growth,” says an analyst of Persistence Market Research.
Market Competition
Prominent players such as SQZ Biotechnologies, besides others, are aiming at collaborations and partnerships to strengthen their market presence as well as to introduce new products in their already existing product portfolios.
- In February 2022, SQZ Biotechnologies collaborated with STEMCELL Technologies for the first non-clinical studies of its point-of-care (POC) manufacturing system.
- In June 2021, Bio-Rad Laboratories, Inc. announced a partnership with Seegene, Inc. for the clinical development and commercialization of infectious disease molecular diagnostic products.
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What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the vascular endothelial growth factor market in its latest study, presenting a historical demand assessment of 2012 – 2021 and projections for 2022 – 2032.
The research study is based on VEGF type (human, mouse, rat, rabbit, and others), expression hosts (CHO, E.coli, HEK, NSO, insect cells, and others), application (cell culture, cell-based therapy, drug development, gene therapy, rare disease treatment, wound healing research, combination therapies, hematology research, osteogenesis, anti-angiogenic therapy), and end user (pharmaceutical & biotechnology companies, academic institutes, CMOs & CDMOs, and other end users {research centers & laboratories and hospital-attached laboratories (HALs)}), across seven key regions of the world.
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