Vascular Endothelial Growth Factor (VEGF) Inhibitor Global Market Report 2024

The vascular endothelial growth factor (vegf) inhibitor market size has grown strongly in recent years. It will grow from $9.68 billion in 2023 to $10.46 billion in 2024 at a compound annual growth rate (CAGR) of 8.0%. The historical period's growth can be ascribed to the rise in cancer prevalence, robust economic expansion in emerging markets, heightened pharmaceutical research and development (R&D) expenditures, increased healthcare spending, government initiatives, and the rapid growth of the elderly population.

The vascular endothelial growth factor (vegf) inhibitor market size is expected to see strong growth in the next few years. It will grow to $13.98 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The anticipated growth in the forecast period can be attributed to the increasing prevalence of cancer, a rise in the occurrence of age-related macular degeneration (AMD), elevated healthcare expenditures, the substantial potential of emerging economies, widespread adoption of biosimilar drugs, and the growing geriatric population. Key trends expected in this period involve providing combination therapies for advanced cancers to enhance patient outcomes, strategic collaborations to drive innovations and establish category leadership, extensive investments in research and development activities for the creation of effective and innovative drugs, a focus on biosimilar production to broaden market reach and make treatments more affordable, and a concentration on reducing dosages for wet age-related macular degeneration (AMD) to enhance patient well-being.

The VEGF inhibitor market is anticipated to experience growth, propelled by the increasing prevalence of cancer and macular degeneration diseases. For instance, a systematic review and meta-analysis published by the National Library of Medicine in August 2022 highlighted that age-related macular degeneration is expected to affect 8.7% of the global population. In 2020, the condition affected 196 million individuals, and this number is projected to rise to 288 million by 2040. Anti-vascular endothelial growth factor (anti-VEGF) agents, which inhibit the progression of the disease and improve vision, are crucial in managing these conditions. Vascular endothelial growth factor (VEGF) inhibitors also play a vital role in restricting tumor growth during cancers. Therefore, the growing prevalence of cancer and macular degeneration diseases contributes to the expansion of the VEGF inhibitor market during the forecast period.

The increasing prevalence of diabetic retinopathy is expected to be a driving force behind the growth of the vascular endothelial growth factor (VEGF) inhibitor market. Diabetic retinopathy, a diabetes-related eye condition affecting the retina, is a significant concern. VEGF inhibitors, also known as anti-VEGF medications, play a crucial role in treating diabetic retinopathy by inhibiting VEGF, a protein associated with the abnormal growth of blood vessels in the eye. In 2021, Prevent Blindness reported that diabetic retinopathy affected an estimated 9.6 million people in the United States, with vision-threatening diabetic retinopathy impacting 1.84 million individuals. Consequently, the increasing prevalence of diabetic retinopathy is a key factor propelling the growth of the vascular endothelial growth factor (VEGF) inhibitor market.

Key players in the VEGF inhibitor industry are engaging in various collaborations and partnerships to broaden their product portfolios through the development of new products. Expanding the product portfolio is a strategic approach employed by companies to enhance business growth and increase market share by meeting consumer demand. The product development process involves the conceptualization, design, development, and marketing of newly created or rebranded goods or services. For instance, in September 2021, AbbVie, a US-based pharmaceutical company, entered into a partnership with REGENXBIO Inc., a US-based biotechnology company, to collaborate on the development and commercialization of RGX-314, an experimental gene therapy targeting chronic retinal diseases such as diabetic retinopathy and wet age-related macular degeneration. RGX-314 utilizes the NAV AAV8 vector to encode an antibody fragment that inhibits vascular endothelial growth factor (VEGF). The therapy is designed to block the VEGF pathway responsible for the development of new, leaky blood vessels and fluid buildup in the retina. As part of the agreement, AbbVie made an upfront payment of $370 million to REGENXBIO, with potential additional payments of up to $1.38 billion upon achieving further development, regulatory, and commercial milestones.

Major companies in the VEGF inhibitors market are dedicated to introducing innovative products through collaborations to maximize their revenues. Collaborative innovation involves developing new ideas, products, or services through partnerships with external entities such as customers, suppliers, and other stakeholders. For instance, in June 2022, Biogen Inc., a US-based biotechnology company, and Samsung Bioepis Co. Ltd., a South Korea-based biopharmaceutical company, jointly launched BYOOVIZ (ranibizumab-nuna), a biosimilar referencing LUCENTIS (ranibizumab). BYOOVIZ, the first ophthalmology biosimilar in the United States, offers expanded alternatives and cost reduction for existing anti-VEGF treatments. It can be used to treat conditions such as Myopic Choroidal Neovascularization (mCNV), Macular Edema Following Retinal Vein Occlusion (RVO), and Neovascular (Wet) Age-Related Macular Degeneration (AMD), as it is a vascular endothelial growth factor (VEGF) inhibitor.

In January 2023, Takeda Pharmaceutical Company Limited, a Japan-based pharmaceutical company, acquired the worldwide license for Fruquintinib, a highly selective oral VEGFR1/2/3 tyrosine kinase inhibitor, from HUTCHMED Limited for an undisclosed amount. Under the agreement, Takeda gains exclusive global rights to develop and market fruquintinib for all indications and regions outside mainland China, Hong Kong, and Macau. HUTCHMED Limited, a China-based pharmaceutical company, specializes in the development of vascular endothelial growth factor receptor (VEGFR) 1/2/3.

Major companies operating in the vascular endothelial growth factor (vegf) inhibitor market report are F. Hoffmann-La Roche AG, Bayer AG, Regeneron Pharmaceuticals Inc., Astrazeneca Plc., Novartis AG, Pfizer Inc., Eli Lilly and Company, Exelixis Inc., Amgen Inc., Sanofi S.A., Cipla Limited, Biocon, Dr. Reddy's Laboratories, Chi-Med, Innovent Biologics, Daiichi Sankyo, Chugai Pharmaceutical Co. Ltd, AstraZeneca plc, Allergan plc., Boehringer Ingelheim International GmbH, GlaxoSmithKline plc, Ipsen, Oxurion, AVEO Oncology, Pharmstandard Group, Zentiva, Coherus BioSciences Inc., Celgene, Exelixis Inc., Regeneron Pharmaceuticals Inc., AVEO pharmaceuticals, Eisai Co. Ltd.

North America was the largest region in the vascular endothelial growth factor (VEGF) inhibitor market in 2023. Middle East is expected to be the fastest-growing region in the vascular endothelial growth factor (VEGF) inhibitor market share during the forecast period. The regions covered in the vascular endothelial growth factor (vegf) inhibitor market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the vascular endothelial growth factor (vegf) inhibitor market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The primary categories of VEGF inhibitors include Avastin, Tecentriq, Cometriq, Eylea, and others. Avastin is a medication designed to assist individuals with wet age-related macular degeneration (AMD). Additionally, it is utilized to treat diabetic eye issues and other retinal conditions. Administered into the eye, Avastin helps delay the loss of eyesight associated with certain disorders. Various routes of administration, including oral and intravenous, are employed in the fields of oncology, ophthalmology, and other medical domains.

The vascular endothelial growth factor (VEGF) inhibitor market research report is one of a series of new reports that provides vascular endothelial growth factor (VEGF) inhibitor market statistics, including vascular endothelial growth factor (VEGF) inhibitor industry global market size, regional shares, competitors with a vascular endothelial growth factor (VEGF) inhibitor market share, detailed vascular endothelial growth factor (VEGF) inhibitor market segments, market trends and opportunities, and any further data you may need to thrive in the vascular endothelial growth factor (VEGF) inhibitor industry. This vascular endothelial growth factor (VEGF) inhibitor market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The vascular endothelial growth factor (VEGF) inhibitor market consists of sales of nexavar, sunitinib, nilotinib, pazopanib, and dasatinib. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.