The global Anti-Vascular Endothelial Growth Factor Therapeutics market size was estimated at USD 12.04 billion in 2021 and is expected to surpass around USD 14.82 billion by 2030 and poised to grow at a compound annual growth rate (CAGR) of 0.45% during the forecast period 2022 to 2030.
Key Takeaways:
- By Product, the U.S. Anti-Vascular Endothelial Growth Factor Therapeutics market was valued at USD 8.1 Billion in 2021 and expected to witness growth at a CAGR of 0.15% from 2022 to 2030.
- In 2021, 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 2021 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
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.
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.
Report Scope of the Anti-Vascular Endothelial Growth Factor Therapeutics Market
Product Insights
The Eylea product segment dominated the global market in 2021 with a revenue share of over 67%. The segment is anticipated to retain its dominance throughout the forecast period. The product is expected to witness significant demand owing to advancements in formulations and the development of advanced drug delivery systems. In April 2020, Bayer AG announced the launch of Eylea injection prefilled syringes in the EU market, which is valid in all 27 EU member states.
This new formulation may increase product adoption by ophthalmologists due to its ease of administration. Beovuis anticipated witnessing the fastest CAGR over the forecast period owing to geographic expansion and patent exclusivity. In 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. The product approval in a new geographic region may increase sales of the product and expand the customer base.
Disease Insights
The Age-related Macular Degeneration (AMD) segment accounted for the largest market share of more than 86% in 2020. The segment is expected to maintain the leading position over the forecast period owing to the increasing disease burden, growing geriatric population, and presence of late-stage product candidates that are expected to enter the market in the coming years. For instance, REGENXBIO Inc.’s pipeline candidate-RGX-314-is currently undergoing a phase II clinical trial and can be commercialized by the end of 2023.
The diabetic retinopathy segment is expected to grow at the fastest CAGR during the forecast years owing to unmet medical needs and an increasing number of treatment approvals for diabetic retinopathy. One-fifth of the diabetic population suffers from retinopathy, leading to 57% of visual impairment cases globally. In May 2019, Regeneron Pharmaceuticals received approval from the FDA for treating all stages of diabetic retinopathy which may fuel the growth of the segment.
Regional Insights
North America region accounted for the highest revenue share of more than 65% of the global market in 2021. The regional market is expected to witness a significant growth rate over the forecast period. Factors, such as high disease prevalence, rising consumer awareness, proactive government measures, technological advancements, and improvements in healthcare infrastructure are expected to boost the regional market growth. The presence of key players in North America will also support the market growth. In May 2020, F. Hoffmann-La Roche Ltd. announced the top-line phase III clinical trial results for formulation advancement of ranibizumab with the Port Delivery System.
Such delivery systems with technological advancements and product launches are expected to positively impact the market growth in the region. Asia Pacific is expected to grow at the fastest CAGR of 4.4% from2022 and 2030. An increase in penetration of anti-VEGF products, rising disposable income, and growing consumer awareness are the key factors expected to drive the regional market growth. Furthermore, a rising number of initiatives, such as improving access to anti-VEGF medications through favorable reimbursement policies, undertaken by the governments for improving the health of the population may fuel the product adoption, thereby augmenting the regional market growth.
Some of the prominent players in the Anti-Vascular Endothelial Growth Factor Therapeutics Market include:
- F. Hoffmann-La Roche Ltd.
- Biogen
- Pfizer, Inc.
- CoherusBioSciences
- Amgen, Inc.
- Bausch Health Companies, Inc.
- Viatris, Inc.
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Anti-Vascular Endothelial Growth Factor Therapeutics market
- Product
- Disease
- Macular Edema
- Diabetic Retinopathy
- Retinal Vein Occlusion
- Age-related Macular Degeneration
By Geography
North America
Europe
- Germany
- France
- United Kingdom
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Rest of Latin America
Middle East & Africa (MEA)
- GCC
- North Africa
- South Africa
- Rest of Middle East & Africa
Key Points Covered in Anti-Vascular Endothelial Growth Factor Therapeutics Market Study:
- Growth of Anti-Vascular Endothelial Growth Factor Therapeutics in 2022
- Market Estimates and Forecasts (2017-2030)
- Brand Share and Market Share Analysis
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Recommendation on Key Winning Strategies
- COVID-19 Impact on Demand for Anti-Vascular Endothelial Growth Factor Therapeutics and How to Navigate
- Key Product Innovations and Regulatory Climate
- Anti-Vascular Endothelial Growth Factor Therapeutics Consumption Analysis
- Anti-Vascular Endothelial Growth Factor Therapeutics Production Analysis
- Anti-Vascular Endothelial Growth Factor Therapeutics and Management
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