NEWARK, Del, Sept. 06, 2023 (GLOBE NEWSWIRE) -- In 2023, the placental growth factors market is expected to be worth US$ 34.9 million. The market is expected to reach US$ 64.6 million by 2033, expanding at a 6.3% CAGR throughout the forecast period. The placental growth factors market is a segment of the healthcare industry focused on assessing, diagnosing, and treating pre-eclampsia or placental-related complications and disorders. Placental growth factors are proteins that are produced by the placenta during pregnancy and play a vital role in the development and maintenance of a healthy pregnancy. These factors include vascular endothelial growth factor (VEGF), placental growth factor (PlGF), and others.
The market for placental growth factors has been growing steadily due to various factors. One key driver is the increasing awareness of the importance of maternal and fetal health. There is a growing emphasis on prenatal care and the early detection of pregnancy-related complications, which has led to an increased demand for placental growth factor testing as a diagnostic tool.
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The rising incidence of pregnancy-related complications, such as preeclampsia, gestational diabetes, and intrauterine growth restriction, has also contributed to the growth of the placental growth factors market. Placental growth factors play a crucial role in assessing and managing these complications, making them essential biomarkers in obstetric care.
Advancements in diagnostic technologies have further fueled the market growth. Improved immunoassays, molecular diagnostics, and imaging techniques enable accurate measurement and assessment of placental growth factors, enhancing the diagnosis and monitoring of placental health.
Government initiatives and support for maternal and child healthcare have also played a significant role in driving market growth. Governments worldwide are implementing programs to improve prenatal care, reduce maternal and infant mortality rates, and promote the early detection of pregnancy-related complications. This support fosters research and development in the field of placental growth factors and encourages the adoption of these tests in clinical practice.
Key Takeaways from the Placental Growth Factors Market:
- The placental growth factors industry in the United States is predicted to reach US$ 24.1 million by 2033, increasing at a 6.0% CAGR.
- The placental growth factors industry in the United Kingdom is estimated to reach a market value of US$ 2.8 million, expanding at a CAGR of 5.7% by 2033.
- During the forecast period, the placental growth factors industry in China is expected to reach a market value of US$ 5.6 million, securing a 7.0% CAGR.
- The placental growth factors industry in Japan is predicted to reach US$ 2.4 million by 2033, increasing at a 5.2% CAGR.
- South Korea's placental growth factors industry is predicted to achieve a market value of US$ 1.0 million, rising at a 6.7% CAGR during the forecast period.
- With value share of 57.0%, ophthalmology segment dominated the placental growth factors industry in 2022.
- With value share of 51.2%, the pharmaceutical and biotechnology companies dominated the placental growth factors industry in 2022.
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Key Players in the Placental Growth Factors Market:
- Alteogen Inc.
- Chengdu Kanghong Pharmaceuticals Group Co Ltd
- Clearside BioMedical, Inc.
- Formycon AG
- Regeneron Pharmaceuticals Inc
- ThromboGenics NV
- Luye Pharma Group Ltd
- Alvotech SA
- Amgen Inc
- Celltrion Inc
- Cinnagen Co
- GlycoNex Inc
The main corporations are investing extensively in research and development initiatives in order to develop inventive and creative products with improved reliability, efficacy, and cost. In order to meet changing consumer expectations, they are also concentrating on growing their product line and bolstering their distribution strategies.
Industry-wide, tactical alliances and partnerships with other businesses are more frequent, enabling parties to capitalize on one another's advantages and increase their market power.
Leading companies employ mergers and consolidation to expand into new markets and improve their market share. In emerging markets, particularly in China and India, the sector is rapidly growing.
To boost their presence in these regions, major companies are expanding their distribution networks and building regional manufacturing sites. They are also concentrating on offering cost-effective solutions to customers in these markets in order to get a competitive advantage.
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Key Developments in the Placental Growth Factors Market:
In March 2023, the suprachoroidal space (SCS®) is being revolutionized by Clearside Biomedical, Inc., a biopharmaceutical firm. Its results for the fourth quarter and year ending December 31, 2022, were released along with a corporate update.
Segmentation Analysis of the Placental Growth Factors Market
By Therapy Areas:
- Ophthalmology
- Metabolic Disorder
- Oncology
- Others
By End User:
- Pharmaceutical and Biotechnology Companies
- Research Centers & Academic Institutes
- CMO and CDMO
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East & Africa
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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