Anti-Vascular Endothelial Growth Factor Therapeutics Market registering a CAGR of 0.5% over the forecast period

 Anti-Vascular Endothelial Growth Factor Therapeutics Industry Overview

The global anti-vascular endothelial growth factor therapeutics market size was valued at USD 11.67 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 0.5% from 2021 to 2028.

 

The anti-Vascular Endothelial Growth Factor (VEGF) therapeutics market growth can be attributed to an increase in the prevalence of ophthalmic diseases, such as macular edema, diabetic retinopathy, retinal vein occlusion, and Age-related Macular Degeneration (AMD), coupled with an increasing geriatric population that is exposed to the risk of developing the condition. According to the WHO, around 196 million people are affected by AMD globally, which includes over 10.4 million cases with moderate to severe vision impairment. In addition, product launches and research advancements are contributing to market growth.

 

AMD is the leading cause of vision loss among the Canadian population; it affected around 1.4 million people in 2018. In 2017, in the European Union, approximately 34 million people were estimated to suffer from AMD. In addition, the alarmingly increasing rate of diabetes prevalence globally is a major market driver. As per the Lancet journal, in 2018, the annual incidence of diabetic retinopathy ranges between 12.7% and 2.2%.

 

Gather more insights about the market drivers, restrains and growth of the Global Anti-Vascular Endothelial Growth Factor Therapeutics Market

 

Moreover, with the growing geriatric population, the incidence of eye disorders is projected to increase over the coming years. According to WHO estimates, the number of people aged above 60 years has outnumbered the population of children aged 5 years. By the end of 2050, the geriatric population is estimated to be around 2 billion from 900 million in 2015. Furthermore, globally, 125 million people belong to the age group of 80 years and above.

 

The focus of market players is shifting to longer-acting VEGF products and treatments for these conditions. The recent launch of brolucizumab by Novartis in 2019 has increased competition among the existing drugs in the market. A longer-acting VEGF medication-Beovu (brolucizumab)-has been introduced, with an initial 3 monthly loading dose, which is later administered every 8 to 12 weeks.

 

Moreover, the 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.

 

However, low screening and diagnostic rates of diabetic retinopathy in developing nations adversely impact market growth. The high chances of intraocular injuries in anti-VEGF treatment are another factor acting as a market restraint. In addition, the patent cliff is one of the major issues in the pharmaceutical industry, as major blockbuster drugs typically account for a large percentage of company turnovers.

 

Key players in the market are involved in the development of biosimilar due to the patent expiry of Lucentis in the U.S. in June 2020 and in Europe in 2022. In November 2019, CoherusBioSciences, Inc. entered into a license and development agreement with Bioeq IP AG for the commercialization of Lucentis biosimilar in the U.S. The company is planning to introduce the product into the market in 2021, which is anticipated to increase the cost-effectiveness of the treatment, making it available to a larger target population.

 

Browse through Grand View Research's Pharmaceuticals Industry Research Reports.

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Market Share Insights

  • December 2020: Hoffmann-La Roche Ltd. announced positive top-line results from global phase III studies evaluating faricimab in people with DME. Faricimab was well-tolerated with no safety signals identified.
  • May 2020: Hoffmann-La Roche Ltd. announced the top-line phase III clinical trial results for formulation advancement of ranibizumab with the Port Delivery System.
  • February 2020: Novartis AG announced EC approval for the launch of Beovu (brolucizumab) injection for treating WAMD. The EC approval applies to all 27 EU member states.

 

Key Companies profiled:

Some of the prominent players in the global anti-vascular endothelial growth factor therapeutics market include:

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

 

Order a free sample PDF of the Anti-Vascular Endothelial Growth Factor Therapeutics Market Intelligence Study, published by Grand View Research.

 

 

 

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