Nerve growth factor (NGF) is a protein that resembles insulin. The rising prevalence of cancer around the globe is a primary factor driving market expansion. For instance, as per the information provided by the American Cancer Society, Inc., the estimated numbers of new cancer cases diagnosed were around 1.8 million and deaths in the US were nearly 606,520 in 2020. Aside from that, NGF exerts its effects in atopic dermatitis by attaching to two types of transmembrane receptors: high-affinity and low-affinity receptors. So, the rising frequency of atopic dermatitis is driving demand for high-affinity nerve growth factor receptors, which play a key role in the treatment of atopic dermatitis such as skin lesions and, as a result, the market is growing.
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Impact of COVID-19 Pandemic on Global High-Affinity Nerve Growth Factor Receptor Market
The COVID-19 Pandemic had a significant impact on the global high-affinity nerve growth factor receptor market. The COVID-19 infection in patients can be cured with the treatment of nerve growth factors. In order to treat a COVID-19 patient, high-affinity nerve growth factor receptor has been used heavily, which has supported the market to grow. The demand for the drugs and therapeutics during the COVID-19 increased significantly. As a result, the market saw an inclination as an impact of COVID-19.
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Segmental Outlook
The global high-affinity nerve growth factor receptor market is segmented based on drug type and application. Based on the drug type, the market is sub-segmented into ASP-7962, AZD-7451, BNN-27, cenegermin, CRB-0089, and others. Based on the application, the market is sub-segmented into atopic dermatitis, cancer, and others.
By Drug Type (ASP-7962, AZD-7451, BNN-27, Cenegermin, CRB-0089, and Others) and
By Application (Atopic Dermatitis, Cancer, and Others) Forecast
Market Players Outlook
Astellas Pharma Inc., copyright Inc., and Merck & Co Inc. are some of the market's leading participants. To stay competitive in the market, industry players are using a variety of strategies such as mergers and acquisitions, regional expansion, partnerships and collaborations, and new product releases to contribute substantially to market growth. For instance, in January 2020, copyright inc. and Lilly collaborated and submitted a Tanezumab application to the US Food and Drug Administration (FDA). At the lower 2.5mg dosage, it is a first-in-class NGF inhibitor for the treatment of osteoarthritis pain.
The Report Covers
Market value data analysis of 2021 and forecast to 2028.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global high-affinity nerve growth factor receptor market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market
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