Anti-vascular Endothelial Growth Factor Therapeutics Market Outlook 2031
The global anti-vascular endothelial growth factor therapeutics market size was USD 12.15 Bn in 2022 and is likely to reach USD 12.71 Bn by 2031, expanding at a CAGR of 0.5% during 2023–2031. The market growth is attributed to the growing geriatric population and rising prevalence of eye-related conditions.
Increasing prevalence of age-related macular degeneration and other retinal disorders is anticipated to significantly contribute to the growth of the anti-vascular endothelial growth factor therapeutics market. Increasing advancements in medical research and technology are shifting the focus towards improving the development, delivery, and effectiveness of drugs targeting vascular endothelial growth factor (VEGF) in medical treatments.
The anti-vascular endothelial growth factor (anti-VEGF) therapeutics refers to drugs and treatments that target the vascular endothelial growth factor, a signaling protein that plays a crucial role in the formation of blood vessels. Anti-VEGF therapies are primarily used to treat conditions such as neovascular age-related macular degeneration (AMD), diabetic macular edema, and other retinal vascular disorders. They work by inhibiting the action of VEGF, which helps to prevent the formation of abnormal blood vessels in the retina.
The market report finds that the COVID-19 pandemic hampers the anti-vascular endothelial growth factor therapeutics market. During the early stages of the pandemic many healthcare facilities, including ophthalmology clinics, experienced disruptions in services. Non-essential medical procedures were postponed or canceled to prioritize COVID-19 care, which affected the regular administration of anti-VEGF injections.
Many patients particularly those in high-risk groups or areas with strict lockdowns avoided non-urgent medical visits, including appointments for intravitreal injections. This led to a reduction in the number of injections administered.
Anti-vascular Endothelial Growth Factor Therapeutics Market Dynamics
Major Drivers
Growing cases of diabetic macular edema drive the market. Diabetic macular edema (DME) is a serious complication of diabetes that affects the macula, which is the central part of the retina responsible for detailed vision. It occurs when fluid gathers in the macula, which leads to vision impairment or even blindness if left untreated. Anti-VEGF drugs have demonstrated high effectiveness in the treatment of DME. These drugs work by inhibiting the action of vascular endothelial growth factor (VEGF), which contributes to the development of edema.
Existing Restraints
High risk of intraocular injuries in anti-VEGF treatment hampers the market. The risk of potential intraocular injuries gives rise to safety concerns regarding anti-VEGF treatments. This leads to patient hesitancy in pursuing or persisting with a treatment that carries a risk of eye injury, which can deter them from seeking or continuing therapy.
Emerging Opportunities
Increasing technological advancements create lucrative opportunities for the market. Technological advancements allow for the development of sophisticated drug formulations and delivery systems. This results in improved bioavailability and targeted delivery of anti-VEGF therapies, which leads to more effective treatments with a few side effects. Advanced diagnostics such as high-resolution imaging and molecular biomarker assays facilitate early and accurate detection of conditions that require anti-VEGF treatment.
Scope of the Anti-vascular Endothelial Growth Factor Therapeutics Market Report
The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Anti-vascular Endothelial Growth Factor Therapeutics Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Product (Lucentis, Eylea, and Beovu) and Disease (Age-related Macular Degeneration, Diabetic Retinopathy, Macular Edema, and Retinal Vein Occlusion)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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Pfizer, Inc.; Viatris, Inc.; KODIAK SCIENCES INC.; Bausch Health Companies Inc.; F. Hoffmann-La Roche Ltd.; Amgen Inc.; Novartis AG; Coherus BioSciences; and Biogen.
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Market Segment Insights
Based on product, the anti-vascular endothelial growth factor therapeutics market is trifurcated into Lucentis, Eylea, and Beovu. The Eylea segment holds the dominant share of the market during the projection period, due to advancements in formulations and high efficacy.
Eylea demonstrated high efficacy in clinical trials and real-world settings for various retinal conditions, including wet age-related macular degeneration and diabetic macular edema. Its effectiveness plays a crucial role in stabilizing or improving vision. Continuous R&D efforts to enhance formulation for Eylea aim to improve drug stability, bioavailability, and duration of action within the eyes. This ensures that the drug remains effective over an extended period by reducing the need for frequent injections.
The Beovu segment is expected to expand at a significant growth rate in the coming years, due to geographic expansion and clinical efficacy. The manufacturers of Beovu expanded its presence in various regions globally. This expansion increases the accessibility of Beovu, which leads to a high adoption rate among patients.
Beovu demonstrated high clinical efficacy in treating various retinal conditions, including wet age-related macular degeneration (AMD) and diabetic macular edema (DME). Its effectiveness in stabilizing or improving vision outcomes is a significant factor contributing to the growth of the market. For instance,
- In February 2020, Novartis was granted approval by the European Commission for Beovu injection to treat wet AMD, a prominent global cause of vision impairment. It became the first anti-VEGF treatment approved by the European Commission, now accessible across all 27 member states of the European Union.
Disease Segment Analysis
On the basis of disease, the global market is segregated into age-related macular degeneration, diabetic retinopathy, macular edema, and retinal vein occlusion. The age-related macular degeneration segment is projected to register a high CAGR during the forecast period, due to increasing disease burden and rising technological innovation.
Age-related macular degeneration is a prevalent globally, and progressive eye condition majorly affect older individuals. The rising aging population leads to an increasing incidence of AMD. Advancements in medical technologies particularly in the field of ophthalmology, lead to the development of precise diagnostic tools and treatment modalities for AMD. This enables early detection and intervention by improving treatment outcomes of AMD therapies.
The diabetic retinopathy segment is anticipated to hold a significant share of the market during the forecast period, due to the rising prevalence of diabetes and growing awareness about the diabetic retinopathy risk. The incidence of diabetes is rising globally, due to sedentary lifestyles, unhealthy, diets, and increasing obesity rates. Diabetic retinopathy is a serious complication of diabetes that affects the retina, which leads to vision impairment or blindness if left untreated. Increasing awareness among both healthcare providers and diabetic patients about the risks of diabetic retinopathy leads to proactive screening and early diagnosis.
Regional Outlook
In terms of region, the global anti-vascular endothelial growth factor therapeutics market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the global market during the projection period, due to advanced healthcare infrastructure and the high prevalence of retinal conditions.
The US and Canada are recognized for their highly developed healthcare infrastructure. This includes developed healthcare facilities, advanced medical technologies, and a well-established network of healthcare providers. This region also experiences a high incidence of retinal diseases, including neovascular age-related macular degeneration and diabetic macular edema that creates a substantial demand for anti-VEGF therapeutics.
Asia Pacific is expected to dominate the market during the projection period, due to the increasing anti-VEGF product penetration and rising healthcare infrastructure. Asia Pacific is experiencing an increase in the adoption and availability of anti-VEGF therapies. Emerging economies, including China, Japan, South Korea, and India, are actively advancing their healthcare infrastructure. Pharmaceutical companies are actively expanding their presence in the region by making these advanced treatments increasingly accessible to patients with conditions such as neovascular AMD and DME.
Segments
The anti-vascular endothelial growth factor therapeutics market has been segmented on the basis of
Product
Disease
- Age-related Macular Degeneration
- Diabetic Retinopathy
- Macular Edema
- Retinal Vein Occlusion
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
Key players competing in the global anti-vascular endothelial growth factor therapeutics market are Pfizer, Inc.; Viatris, Inc.; KODIAK SCIENCES INC.; Bausch Health Companies Inc.; F. Hoffmann-La Roche Ltd.; Amgen Inc.; Novartis AG; Coherus BioSciences; and Biogen.
These companies adopted development strategies, including mergers, acquisitions, partnerships, collaboration, product launches, and production expansion, to expand their consumer base worldwide. For instance,
- In February 2022, Kodiak Sciences successfully concluded enrollment in phase 3 clinical trials of GLEAM and GLIMMER for KSI-301. It developed anti-VEGF antibody biopolymer conjugate for patients with DME.
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