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Anti-Vascular Endothelial Growth Factor Therapeutics Global Market Report 2024 Market Size, Key Drivers, Growth, Growth Demand, Analysis 2024-2033
Anti-Vascular Endothelial Growth Factor Therapeutics Global Market Report
According to The Business Research Company's, The anti-vascular endothelial growth factor therapeutics market size has grown marginally in recent years. It will grow from $12.18 billion in 2023 to $12.35 billion in 2024 at a compound annual growth rate (CAGR) of 1.3%. The growth in the historic period can be attributed to rise in age-related macular degeneration, increased incidence of diabetic retinopathy, advancements in retinal disease diagnosis, clinical success and efficacy, shift to outpatient treatment.
The anti-vascular endothelial growth factor therapeutics market size is expected to see marginal growth in the next few years. It will grow to $13.13 billion in 2028 at a compound annual growth rate (CAGR) of 1.5%. The growth in the forecast period can be attributed to aging population and ocular diseases, expanding applications in retinal disorders, development of next-generation therapeutics, increasing emphasis on early intervention, global health initiatives and access to treatment. Major trends in the forecast period include increasing utilization in cancer treatment, focus on combination therapies in ophthalmology, exploration of biosimilar versions, research on resistance mechanisms, integration with imaging technologies.
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Market Drivers and Trends:
The increase in the prevalence of ophthalmic diseases is expected to propel the growth of the anti-vascular endothelial growth factor therapeutics market going forward. The prevalence of ophthalmic diseases refers to the number or proportion of individuals within a given population who have been diagnosed with or exhibit specific eye conditions or diseases. Anti-vascular endothelial growth factor (VEGF) therapeutics help reduce the prevalence of ophthalmic diseases by effectively treating ailments such as wet age-related macular degeneration (AMD), diabetic retinopathy, and retinal vein occlusion. For instance, in October 2022, according to World Health Organization, a Switzerland-based international public health organization, globally, around 2.2 billion people have near or distance vision impairment, and 1 billion people suffer from near or distance vision impairment. Further, among these, 88.4 million are suffering from refractive error, 94 million have cataracts, 8 million have age-related macular degeneration, and around 3.9 million have diabetic retinopathy. Therefore, the increase in the prevalence of ophthalmic diseases is driving the growth of the anti-vascular endothelial growth factor therapeutics market.
Advancements in therapeutics are a key trend gaining popularity in the anti-vascular endothelial growth factor therapeutics market. Companies operating in the anti-vascular endothelial growth factor therapeutics market are adopting advanced therapeutics to sustain their position in the market. For instance, in May 2022, Ashvattha Therapeutics Inc, a US-based clinical-stage biopharmaceutical company, released phase 1 safety data for healthy subjects for subcutaneous anti-VEGF wet AMD (age-related macular degeneration) and DME (diabetic macular edema) candidates. D-4517.2 therapy is a first-in-class therapy developed to address the unmet needs of DME conditions. D-4517.2 therapy is being developed for self-administration using an autoinjector. The autoinjector D-4517.2 enable patients to self-administer the medication once a month in the comfort of their home.
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Major Key Players of the Market:
F. Hoffmann-La Roche AG; Biogen Inc.; Pfizer Inc.; Coherus BioSciences Inc.; Applied Molecular Genetics Inc.; Eli Lilly and Company; Bausch Health Companies Inc.; Viatris Inc.; Xbrane Biopharma AB; Bayer AG; Regeneron Pharmaceuticals Inc.; Genentech Inc; Allergan Inc.; Novartis AG; kyowa Kirin Co. Ltd.; Amgen Inc.; AstraZeneca plc; Merck & Co. Inc.; Johnson & Johnson Private Limited; Sanofi S.A.; AbbVie Inc.; Takeda Pharmaceutical Company Limited; Astellas Pharma Inc.; Bristol-Myers Squibb Company; Boehringer Ingelheim International GmbH; Daiichi Sankyo Company Limited; Eisai Co. Ltd.; Gilead Sciences Inc.; Vertex Pharmaceuticals Incorporated; Alexion Pharmaceuticals Inc.
Anti-Vascular Endothelial Growth Factor Therapeutics Market 2024 Key Insights:
• The anti-vascular endothelial growth factor therapeutics market size will grow to $13.13 billion in 2028 at a compound annual growth rate (CAGR) of 1.5%.
• Rising Prevalence Of Ophthalmic Diseases Drives Growth In The Anti-Vegf Therapeutics Market
• Advancements In Therapeutics Drive Growth In The Anti-Vegf Therapeutics Market
• North America was the largest region in the anti-vascular endothelial growth factor therapeutics market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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