Global Nerve Growth Factor (NGF) Market - Industry Trends and Forecast to 2030

Nerve Growth Factor (NGF) Market Analysis and Size

The nerve growth factor (NGF) market is expected to witness significant growth during the forecast period. Growing cases of Alzheimer’s disease, corneal ulcer, glaucoma, retinitis pigmentosa which causes tissue damage to the immune system drives the nerve growth factor market. The growth of the nerve growth factor (NGF) market is enhanced by the growing cases of neurological disorders and the rise in the R&D activities that many pharmaceutical companies conduct. COVID-19 also had a major impact on the market growth.

Data Bridge Market Research analyses a growth rate in the nerve growth factor (NGF) market in the forecast period 2023-2030. The expected CAGR of nerve growth factor (NGF) market is tend to be around 7.9% in the mentioned forecast period. The market was valued at USD 1.07 billion in 2022, and it would grow upto USD 1.98 billion by 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework. 

Report Scope and Market Segmentation

Global Nerve Growth Factor (NGF) Market Dynamics

Drivers

• Rising Usage in Ocular Disorders

Neurodegenerative disorders, particularly Parkinson and Alzheimer NGF help to cure from these disease. NGF helps to promote nerve cell regeneration or improve the nerves' function after a spinal cord injury. In ocular disorders, NGF is widely used in ocular. NGF regulates ocular surface homeostasis in several ways, including epithelial health, immune modulation, limbal stem cell proliferation, and tear production. Thus, NGF plays a major role in the betterment of the ocular disorder patients and thus is increasing the market growth.

• Increase in Elderly Population

As per the reports of the National Institute on Aging, about 524 million individuals, were above the age of 65 years in the year 2010. This number is anticipated to rise and reach upto 1.5 billion, which is around 16% of the global population, by 2050. In India, aged people (60 years and above) consist of 8.6% of the total population (India Census 2011), which is expected to reach 19% by 2050. According to the 2019 report, there were around 703 million persons aged 65 years or above in the world in 2019. The number of older persons is projected to double to 1.5 billion in 2050. This boost the market growth.

Opportunities

• Increase in Alzheimer’s Disease

Alzheimer disease is one of the most top cause of dementia. In the U.S., about 5.5 million people are affected, and the incidence is expected to rise high upto 24 million in the coming years worldwide. More than 6 million Americans of all age groups have Alzheimer's. An estimated 6.5 million Americans age 65 years and above are surviving with Alzheimer's in 2022. About 1 in 9 age 65 and older (10.7%) has Alzheimer's. Furthermore, Alzheimer's disease and dementia are found to be most common in Western Europe and least common in Sub-Saharan Africa This helps in demanding more of these growth factors thus boosts the market growth.

Restraints/Challenges

• Development of Adverse Complications

There are several complications that gets associated with the use of NGF and these could impede the growth of the global nerve growth factor (NGF) market during the forecast period. Excessively high levels of NGF have also been associated with cancer tumor growth, asthma, and the worsening of acquired immunodeficiency syndrome (AIDS). All these factors restrict the growth of the market.

This nerve growth factor (NGF) market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the nerve growth factor (NGF) market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Global Nerve Growth Factor (NGF) Market Scope

The nerve growth factor (NGF) market is segmented on the basis of type, indication, regulation, agents, route of administration,distribution channel and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Alpha-NGF
• Beta-NGF
• Gamma-NGF
• Others

Indication

• Neurodegenerative Disorders
• Spinal Cord Injuries
• Eye Disorders
• Epithelial Diseases
• Tissue Healing
• Others

Regulation

• Endocrine System (Neuro)
• Immune System
• Others

Agents

• Cenegermin
• Others

Route of Administration

• Oral
• Parenteral
• Others

End User

• Hospitals
• Homecare
• Specialty Clinics
• Others

Distribution Channel

• Hospital Pharmacy
• Online Pharmacy
• Retail Pharmacy

Nerve Growth Factor (NGF) Market Regional Analysis/Insights

The nerve growth factor (NGF) market is analyzed and market size insights and trends are provided by type, indication, regulation, agents, route of administration,distribution channel and end-user as referenced above.

The major countries covered in the nerve growth factor (NGF) market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America has been witnessing a positive growth for nerve growth factor (NGF) market throughout the forecasted period 2023-2030 because of the high incidence and occurrence rate of neurodegenerative diseases in the regions. As per the McGovern Institute for Brain Research at MIT, brain disorders contribute majorly to the global disease burden. Also, the increasing number of chronic diseases also boost the market growth. More than one million adults in the U.S. are diagnosed with chronic brain diseases and disorders.

Asia-Pacific dominates the market because of the increasing elderly population suffering from eye disorders, and increasing presence of generic manufacturers. The strategic collaborations between academic research institute and pharmaceutical giants to develop new drugs is most likely to contribute in the market growth.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data. 

Competitive Landscape and Global Nerve Growth Factor (NGF) Market Share Analysis

The nerve growth factor (NGF) market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to nerve growth factor (NGF) market 

Key players operating in the nerve growth factor (NGF) market include:

• Dompé farmaceutici S.p.A (Italy)
• Pfizer Inc. (U.S.)
• Regeneron Pharmaceuticals Inc (U.S.)
• Astellas Pharma Inc. (Japan)
• Merck KGaA (Germany)
• Sanofi (France)
• Promega Corporation (U.S.)
• Alomone Labs (Israel)
• Bio-Rad Laboratories, Inc. (U.S.)
• Prospec-Tany Technogene Ltd. (Israel)
• CUSABIO TECHNOLOGY LLC (U.S.)
• Biocare Medical, LLC (U.S.)
• Lilly (U.S.)
• Teva Pharmaceutical Industries (Israel)
• Mitsubishi Chemical Group Corporation (U.S.)

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