The anti-nerve growth factor market size stood at around USD xx billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of 3.82% during the forecast period
Nerve growth factor is a tumor tissue produced growth factor that promotes the growth and differentiation of sympathetic and sensory ganglia. It is first growth factor to be identified. Elevated level of nerve growth factor leads to inflammation and peripheral nerve injury. The nerve growth factor is secreted in the body following stimulus (eg, chemical, thermal, or mechanical). Clinically, elevated level of nerve growth factor in the body leads to chronic pain conditions like chronic headaches, diabetic neuropathy, interstitial cystitis, arthritis, pancreatitis, prostatitis, cancer pain, and noncancerous pain. Current pain management therapy has certain limitation and fails to meet current clinical needs. The discovery of nerve growth factor has been well characterized as important mediators of pain management. Pharmacotherapies targeting this nerve growth factor are considered to have the potential in the treatment of a variety of nociceptive and neuropathic pain conditions.
Surging prevalence of neurological diseases, growing geriatric populations and the advancing therapies for the vast spectrum of neurological diseases, injuries and others are expected to drive the growth of the global nerve growth factor market. The growing population of the aged population, increasing awareness of neurological disorders such as dementia, amnesia, depressions, etc. induced by the stressful lifestyle are fueling the market growth. The research on the blocking molecules of nerve growth factors for the therapy of several diseases ranging from viral infections, gynecological complications to Alzheimer is pushing the investments into this market.
The global nerve growth factor market is expected to leverage further in future due to increasing cases of neurological complications and progressing research and clinical advancements of the nerve growth factor certain therapies. By indication, the market is segmented into peripheral neuropathies, central neurodegenerative disease, autoimmune diseases and others. The nerve growth factor is being utilized for regenerative therapies for neurological diseases, neuron damages and others. It has been observed to be well tolerated for eye drops administration. By type, the nerve growth factor divided into KP-544, MT-2, 8 and MEDI-7352.
However, the strict regulatory rules, high healthcare expenditure and expensive clinical trials are decelerating the market growth. Although, the research and therapeutic progress of nerve growth factor for the nerve cell recovery to treat the nerve damages caused after chemical exposure, surgeries and is ischemia are expected to support the overall market growth.