Market Challenges And Opportunities

Global Recombinant Human EGF Market - Impact of the Coronavirus (COVID-19) Pandemic

Coronavirus (COVID-19) outbreak was first reported on December 31, 2019, in Wuhan, China. The World Health Organization declared COVID-19, as pandemic on March 11, 2020.

According to the Coronavirus (COVID-19) Weekly Epidemiological Update by the World Health Organization, over 180,492,131 cases and 3,916,771 deaths due to coronavirus disease (COVID-19) were reported till June 27, 2021, across the globe.

Impact of COVID-19 on Demand and Supply of Recombinant Human EGF

The COVID-19 pandemic and lockdown in various countries across the globe have impacted the financial status of businesses across all sectors. The biotechnology sector is one such sector that has been majorly impacted by the pandemic.

The COVID-19 pandemic has impacted the entire supply chain of the biotechnology industry mainly due to strict lockdown in several regions. COVID-19 pandemic has resulted in a decrease in non-emergency operations/procedures such as cataract surgery, eye laser surgery, and others. According to the National Centre for Biotechnology Information (NCBI), in 2020, the total number of outpatient department treatment (OPD) visits decreased by 96.6% at a tertiary-care ophthalmology institute in Tamil Nadu, India. This was due to the national lockdown, which led to the restriction of movement that further resulted in decreased OPD visits as compared to 2019.

Thus, the impact of the coronavirus (COVID-19) pandemic is expected to limit the growth of the global recombinant human EGF market during the forecast period, owing to the decrease in ophthalmology procedures during the pandemic as recombinant human EGF is used in treatment of eye damages.

Global Recombinant Human EGF Market – Restraints

However, growth of the recombinant human EGF market may be hampered, owing to the high cost and disparity in efficiency of various recombinant human EGF. According to a research study published in MDPI (Multidisciplinary Digital Publishing Institute) in April 2019, potential uses of EGF have not been completely translated into commercially available products due to the high production cost of recombinant human epidermal growth factor. Moreover, according to a review article by Analytical & Pharmaceutical Research Journal in 2017, few isoforms of recombinant human EGF exhibit low levels of bioavailability and stability. Also, the same source reveals that use of some structurally different recombinant human EGF for the treatment of diabetic ulcer wounds showed different efficacies and inconsistent results.