Anti-Vascular Endothelial Growth Factor Therapeutics Market Will Be Worth USD 12.82 Billion by 2028: Grand View Research Inc.

 Anti-Vascular Endothelial Growth Factor Therapeutics Market Growth & Trends

The global anti-vascular endothelial growth factor therapeutics market size is expected to reach USD 12.82 billion by 2028, registering a CAGR of 0.5% over the forecast period, according to a new report by Grand View Research, Inc. Increased funding for R&D of anti-VEGF therapeutics to boost the development of new drugs is expected to accelerate market growth. Moreover, the introduction of novel innovative products coupled with the increasing geriatric population that is susceptible to develop ophthalmic diseases is expected to propel the market growth over the forecast period.

According to the United Nations Department of Economic and Social Affairs data, the global elderly population (aged 60 years and above) was around 703 million in 2019. The share of the population aged 65 years and above was 6%, which increased to 9% in 2019. The aging population, based on countries, was around 68.7 million in Africa, 549.2 million in Asia, 183 million in Europe, 78.4 million in North America, and more than 76 million in Latin America & other regions in 2017. Hence, the increasing geriatric population is anticipated to drive the market.

The lack of reimbursement policies in developing regions is creating an opportunity for cost-effective novel molecules. In addition, ophthalmologists switching to more effective newly launched drugs has compelled companies to invest in R&D to maintain their industry position. The interest of investigators on biosimilar of existing drugs is a major trend in the pipeline of anti-VEGF therapeutics.

Moreover, companies are developing various formulations and drug delivery systems that may increase the adoption of these therapies. For instance, F. Hoffmann La Roche Ltd. is developing the port delivery system-RG6321 (Ranibizumab)-which is currently undergoing a phase III clinical trial. It is an eye implant that is refillable and continuously delivers a customized formulation of ranibizumab over a period of months.

Loss of patent protection is likely to have a negative impact on the market growth and has led big pharma companies to consider new revenue streams. However, this is creating an emerging market for biosimilar drug producers in the space. This rising competition is anticipated to impede market growth. However, the launch of novel products with a competitive advantage is anticipated to lower the impact of the restraint during the forecast period.

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Anti-Vascular Endothelial Growth Factor Therapeutics Market Report Highlights

• In 2020, Age-related Macular Degeneration (AMD) accounted for the largest revenue share and is anticipated to maintain its dominance over the forecast period
• Diabetic retinopathy is anticipated to witness significant growth over the forecast period due to increasing cases of diabetes across the globe
• The Beovu segment is expected to grow at the fastest CAGR over the forecast period due to the geographic expansion and patent exclusivity
• Product expansions in various geographic regions are expected to increase sales and customer base
• North America was the largest regional market in 2020 due to the high disease prevalence, rising consumer awareness, proactive government measures, technological advancements, and improvements in healthcare infrastructure
• Asia Pacific is anticipated to witness the fastest CAGR over the forecast period due to a rise in the penetration of anti-VEGF products, rising disposable income, and growing consumer awareness

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Anti-Vascular Endothelial Growth Factor Therapeutics Market Segmentation

Grand View Research has segmented the global Anti-Vascular Endothelial Growth Factor Therapeutics Market on the basis of products, disease, and region:

Anti-VEGF Therapeutics Product Outlook (Revenue, USD Million, 2017 - 2028)

• Eylea
• Lucentis
• Beovu

Anti-VEGF Therapeutics Disease Outlook (Revenue, USD Million, 2017 - 2028)

• Macular Edema
• Diabetic Retinopathy
• Retinal Vein Occlusion
• Age-related Macular Degeneration

Anti-VEGF Therapeutics Regional Outlook (Revenue, USD Million, 2017 - 2028)

• North America
  • US
  • Canada
• Europe
  • UK.
  • Germany
  • Spain
  • France
  • Italy
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa

List of Key Players of Anti-Vascular Endothelial Growth Factor (VEGF) Therapeutics Market

• Hoffmann-La Roche Ltd.
• Biogen
• Pfizer, Inc.
• CoherusBioSciences
• Amgen, Inc.
• Bausch Health Companies, Inc.
• Viatris, Inc.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.