Which growth factor reagent vendors are increasing their market share?
In this blog:
- We give an overview of the growth factor market leaders
- Find out which reagent vendors are on the rise
- Download data on the top 10 growth factor suppliers from 2018-2022
Which growth factor companies should you be paying attention to in the research protein reagent market?
Today, we delve into our growth factor market data to report on an interesting trend we are seeing – Chinese suppliers climbing the ranks.
Our analysis today covers the industry’s big hitters, such as PeproTech, R&D Systems and MilliporeSigma as well as exploring the growth trends for Sino Biological, Novoprotein and MedChemExpress.
What data did we use for our growth factor market analysis?
At CiteAb, we focus on collecting product citations from the scientific literature to elucidate how scientists are using reagents. This life science data can be used to understand the market performance of reagent companies and products, by reflecting past sales accurately and giving a leading indicator for future purchasing decisions.
Our growth factor database covers ~800k products and over 260 companies, and includes your classic growth factors like EGF and FGF, as well as cytokines like interleukins and TNF.
This data is extracted from our wider protein dataset, covering product types such as enzymes, hormones, serums, toxins and more.
So, what did our analysis reveal?
Growth factor market leaders – an overview
Staking their claim as the most cited growth factor reagent company is PeproTech, part of Thermo Fisher Scientific. They have held this position for the past five years with nearly 50% of the market. In fact, they have grown their share year on year, rising from a 41.06% share of the growth factor market in 2018.
Joining them in the top three are the reagent giants R&D Systems, part of Bio-Techne, and MilliporeSigma. These companies continue to hold a significant proportion of the market, although both have been seeing slight downward growth trajectories over the past few years.
Thermo Scientific takes the fourth position in this market.
Impressively, these leading four reagent suppliers have remained unchanged for the past five years.
Looking ahead, we will be interested to see if other suppliers are able to take share and grow their hold on the market, providing some competition to the top four.
Let’s take a closer look at which companies are potential contenders to disrupt the status quo…
Which suppliers are growing in the growth factor reagent dataset?
When we took a closer look at our research growth factors dataset, we noticed a number of suppliers with impressive growth trajectories.
Given that many suppliers in the top ten are in fact seeing negative trajectories, these growing companies are certainly ones to watch. Of particular interest, we found that several Chinese companies are seeing impressive growth in the growth factor market.
Sino Biological – A sudden increase in growth
We’ve charted Sino Biological’s rise from the 9th to the 6th ranking supplier in the growth factor market between 2018 and 2022. In 2022, they had grown to hold a 1.61% share of the growth factor market.
In recent blogs, we have commented on Sino Biological’s success in the broader protein market, beyond just growth factor reagents.
We’ve theorised that their strong performance over the last couple of years is due to their effective response to the challenge of the Sars-CoV-2 pandemic. They saw a meteoric rise in citation share from 2020 in the immunology protein market, supporting this theory.
Sino Biological also featured prominently in our top 100 growth factors (2020-2022) analysis that we shared last month. They supplied 10 of the most highly cited products, demonstrating popularity for their growth factor reagents and success that goes beyond their SARS related proteins.
We will be watching to see if they continue with their current trajectory in the years following the pandemic and manage to break into the top 5.
Novoprotein – Steady growth over multiple years
Another Chinese supplier we’ve noticed increasing their share is Novoprotein. They have gone from not being a player in the market in 2018 to rank at an impressive 11th position in 2019 (with 0.26% of the market), and then rise again to 8th (0.79% market share) in 2022.
Novoprotein have over ten years of experience focusing on protein technology, with their principal products including target proteins and cytokines. They were founded in Suzhou China, and have grown to now produce over ten thousand recombinant proteins.
We will be interested to see how this company continues to make its mark on the protein market. If they continue this trajectory, we see no reason they couldn’t break into the top 5 in the future.
MedChemExpress – A significant increase in rank
MedChemExpress have also grown their share and now rank an impressive 10th in 2022 with 0.55% of the growth factor market. (Similarly to Novoprotein, they have gone from not ranking at all in 2018).
We have also noted, over on our blog, that MedChemExpress have seen an even stronger growth trajectory in the biochemicals market. You can read more on our blog about their success in the bioactive market and their strong performance in China.
The supplier also held two proteins in the top 100 growth factor list we recently produced.
We’ll be interested to see how their rank changes in the coming years and if they are able to climb the ladder.
Overall, our data suggests this is a market to keep an eye on, with many significant changes in rank for players outside the top four. We will be watching closely to see whether any new suppliers manage to break into the top five, or even top four, in the near future.
The impact of Chinese suppliers and their strong performance in the Chinese market seems to be making a significant mark in the growth factor space. These suppliers could certainly disrupt the market.
However, the top suppliers still currently have a strong hold with the top 3 claiming nearly 90% of the market.
We will be interested to see whether PeproTech continues to grow here, and how they will use this mammoth share to shape the market and drive progress and innovation.
Download the growth factor dataset below
Below you are able to download a protein dataset exclusive to this blog, taking in data on the top 10 growth factor suppliers from 2018-2022!
Our market datasets are used by leading protein manufacturers and investment firms around the world to better inform their business decisions and product pipeline.
Do get in touch with the team if you’re interested in learning more about our growth factor market data!
Look out on our blog over the next few weeks as we cover supplier share in the kits market.
And, in case you missed it, we have also recently shared our analysis on company share in the research antibody market which you can read here.
- Rebecca and the CiteAb team
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