The global anti-VEGF market size was worth USD 12,360 million in 2021. It is expected to reach USD 13,542 million by 2030, growing at a CAGR of 1.02% during the forecast period (2022–2030).
Vascular Endothelial Growth Factor, also known as VEGF, is a protein naturally produced in the human body and is accountable for developing new blood vessels and their upkeep. Under abnormal conditions, such as diabetic retinopathy, blood vessel obstruction, or age-related macular degeneration, it causes the formation of abnormal blood vessels, which can bleed, leak, and ultimately result in scar formation and the loss of vision.
Anti-vascular endothelial growth factor therapeutics, or Anti-VEGF therapeutics, are a class of drugs that are used to inhibit the activity of vascular endothelial growth factors. This class of medication is employed in treating various diseases, including cancer and ophthalmic conditions like diabetic retinopathies, age-related macular edema, and retinal vein occlusion, amongst others. When anti-VEGF agents are administered in the appropriate circumstances, they act at the molecular level to counteract the action of VEGF, which ultimately results in a reduction in morbidity.
During periods of growth and development and in disease states such as cancer, diabetes, and macular degeneration, the vascular endothelial growth factor (VEGF) is considered the master regulator of angiogenesis. It is anticipated that technological advancements in the treatment of ophthalmic diseases, an increase in the prevalence of ophthalmic and chronic diseases associated with indications such as age-related macular degeneration, retinal vein occlusion, and diabetic retinopathies, and an increase in per capita healthcare expenditure across the globe will collectively drive the market for anti-VEGF.
The escalating prevalence of ophthalmic conditions such as macular degeneration, diabetic retinopathy, retinal vein occlusion, and age-related macular degeneration is a significant driver of market expansion. According to the World Health Organization, approximately 196 million people worldwide are affected by AMD, with over 10.4 million cases involving moderate to severe vision impairment. AMD is an eye disease that causes a progressive loss of central vision and primarily affects the elderly.
Moreover, the incidence of eye disorders is projected to increase as the aging population grows. According to estimates from the World Health Organization, the population of people aged 60 and older has surpassed that of children aged 5 years. The geriatric populace is estimated to increase from 900 million in 2015 to approximately 2 billion by 2050. In addition, there are 125 million people in the world who are aged 80 and older. As a result, it is anticipated that the aging of the population will increase the incidence of AMD.
It is anticipated that the market for anti-VEGF therapeutics will exhibit lucrative growth as several market players are focusing on research and development to develop novel treatments. Participants actively engage in extensive research and development activities to develop novel drugs to treat various eye disorders and gain a higher market share. As the number of people who have diseases continues to rise at an alarming rate, there is an ever-increasing demand for innovative therapies and treatments. In close collaboration with pharmaceutical companies, clinical trials are being carried out by hospitals and other healthcare institutes to ensure the patients' well-being throughout the process. The current class of anti-VEGF medications is efficient, but their effects do not last very long; as a result, more and more research and development efforts are being put into creating therapeutics with longer action durations.
The "patent cliff" is one of the most significant challenges faced by the pharmaceutical industry today. Blockbuster medications typically account for a substantial proportion of company revenues. In recent years, the patent exclusivity on several essential blockbuster drugs has expired, and it is anticipated that a large number of additional drugs will do the same in the years to come. Loss of patent protection is probable to harm a company's performance, which has prompted large pharmaceutical companies to consider new revenue streams. However, this results in the development of a new market for manufacturers of biosimilar drugs. It is anticipated that the intensifying competition will stunt the market's growth. On the other hand, introducing novel products with a competitive advantage is expected to lessen the constraint's impact during the forecast period.
Current treatments for various conditions, including dry and wet AMD and DR, provide only temporary symptomatic relief, so many parties are engaged in developing new treatments. The emphasis of market participants is shifting toward VEGF products with longer half-lives and treatments for these conditions. Novartis 2019 introduced brolucizumab, which increased competition in the pharmaceutical market. In addition, the companies are developing a variety of formulations and drug delivery devices that could increase the prevalence of these treatments. F. Hoffmann-La Roche Ltd., for example, is establishing the port delivery system—RG6321 (Ranibizumab). It is a refillable eye implant that continuously delivers a customized formulation of ranibizumab for months.
The global anti-VEGF market share is segmented on the basis of product and disease.
Based on product, the global anti-VEGF market is classified into Eylea, Lucentis, and Beovu.
Eylea is expected to command the largest market share, growing at a CAGR of 1.49% during the forecast period. Eylea (aflibercept) is a targeted anti-VEGF therapy that has been approved to treat various ophthalmic diseases. These diseases include diabetic retinopathy (DR), diabetic macular edema (DME), and wet age-related macular degeneration (AMD) (WAMD). Injectable Aflibercept was developed jointly by Bayer AG and Regeneron Pharmaceuticals, Inc. and is available in the United States. Regeneron Pharmaceuticals, Inc. currently possesses exclusive commercial rights in the United States and net sales rights in Japan.
In addition, Bayer AG holds the marketing rights for the product outside of the United States of America; however, Bayer AG and Regeneron Pharmaceuticals, Inc. have agreed to split the profits from any future product sales equally. Due to advancements in formulations and the development of advanced drug delivery systems, the product is anticipated to experience significant growth in the coming years. Bayer AG announced in April 2020 that it would be releasing Eylea injection prefilled syringes onto the market in the EU. This announcement applies to all 27 member states of the EU. Since the new formulation is so simple to use, there is a good chance that the number of ophthalmologists who adopt it will rise.
Beovu or Brolucizumab-dbll is the fastest-growing segment during the forecast period. Beovu is an anti-VEGF medication prescribed to patients diagnosed with neovascular AMD as part of their treatment. Novartis develops and markets the product. As a result of geographic expansion and increased patent exclusivity, this segment is anticipated to experience the highest growth rate. In February 2020, Novartis AG announced that the European Commission had approved the launch of the brolucizumab injection known as Beovu to treat WAMD. All 27 EU members can use the EC's approval.
Based on disease, the global anti-VEGF market is classified into Macular Edema, Diabetic Retinopathy, Retinal Vein Occlusion, and Age-Related Macular Degeneration.
Age-Related Macular Degeneration is expected to hold the largest market share, growing at a CAGR of 1.35% by 2030. Age-related macular degeneration, also called AMD, is a type of illness that primarily affects people over 60. This disease is progressive and chronic, and it causes a gradual blurring of one's vision before ultimately leading to blindness. According to the American Macular Degeneration Foundation, AMD is the leading cause of vision loss in the United States, even more so than cataracts and glaucoma combined. AMD is a condition that can be treated with most anti-VEGF medications, including Eylea and Lucentis. Therefore, it can be anticipated that the high prevalence of AMD will drive demand for anti-VEGF products in the market.
Region-wise, the global anti-VEGF market share is segmented across North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
North America holds the largest market share and is expected to grow at a CAGR of 0.8% during the forecast period. The regional market is driven by an increased disease preponderance, rising consumer understanding, proactive government measures, technological advances, and enhancements to the healthcare segment. The prevalence of crucial players in this region is a significant factor driving market expansion.
In addition, increasing product launches and demand for medicines are anticipated to contribute to the regional market expansion. In addition, technological advances in the pharmaceutical industry may stimulate market growth. In May of 2020, F. Hoffmann-La Roche Ltd. announced the topline phase 3 clinical trial results for formulation advancement of ranibizumab with the Port Delivery System. Such delivery systems and technological developments assist the company in gaining a market advantage.
Europe holds the second-largest region and is expected to grow at a CAGR of 1.0%, accounting for USD 3,075 million during the forecast period. The market for anti-VEGF therapeutics in the region is anticipated to be driven by the increasing prevalence of ophthalmic diseases and rising investments in developing treatment options. The prevalence and incidence of indications such as age-related macular degeneration (AMD) and diabetic retinopathies support market growth.
The prevalence of AMD in Europe is estimated to be 34 million patients, with 22 million residing in EU-5 countries. In addition, it is projected that this number will increase by 25% by 2050. There are currently a variety of treatment options for these illnesses. However, anti-VEGF drugs are the preferred treatment option. According to a survey, approximately 61% of European respondents favor Eylea for treating diabetic retinopathies and DME. In Europe, healthcare is universal, and all approved treatments are covered.
Growing market opportunities and rising healthcare expenditures are anticipated to result in substantial growth for Asia-Pacific over the forecast period. The licensing agreements between companies and the rising demand for anti-VEGF products can support market expansion in the coming years. In addition, government initiatives to improve population health are anticipated to propel market growth over the forecast period. Enhancing access to anti-VEGF drugs through favorable reimbursement policies in high-income Asia-Pacific nations can stimulate the market by increasing adoption.
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