The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

According to The Business Research Company’s Vascular Endothelial Growth Factor (VEGF) Inhibitor Global Market Report 2024, the vascular endothelial growth factor (VEGF) inhibitor market is expected to show promising growth in the forecast period.

The VEGF inhibitor market has witnessed robust growth, driven by increasing prevalence of cancer and macular degeneration diseases, along with strategic collaborations and innovative product developments. This blog explores the factors fueling this market’s expansion and the notable trends shaping its trajectory.

Market Size and Growth Rate
Historic Growth (2023-2024)

• Market Value: Increased from $9.68 billion in 2023 to $10.46 billion in 2024.
• CAGR: 8.0%.
• Contributing Factors:
  • Rise in cancer prevalence.
  • Strong economic growth in emerging markets.
  • Increased pharmaceutical R&D expenditure.
  • Growing healthcare expenditure.
  • Government initiatives.
  • Rapid growth in the elderly population.

Forecast Growth (2024-2028)

• Projected Market Value: Expected to reach $13.98 billion by 2028.
• CAGR: 7.5%.
• Driving Factors:
  • Increasing prevalence of cancer.
  • Rising incidence of age-related macular degeneration (AMD).
  • Surge in healthcare expenditure.
  • High potential of emerging economies.
  • High penetration of biosimilar drugs.
  • Growing geriatric population.

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Key Trends Shaping the Market
Combination Therapies for Advanced Cancers

• Improved Patient Outcomes: Offering combination therapies to combat advanced cancers and enhance patient quality of life.
• Focus: Tailoring treatments to individual patient needs for better efficacy.

Strategic Collaborations for Innovation

• Collaborative Innovation: Major companies joining forces to introduce innovative products and maximize market revenues.
• Example: Biogen Inc. and Samsung Bioepis Co. Ltd.’s launch of BYOOVIZ, a biosimilar referencing LUCENTIS.

Rising Prevalence of Cancer and Macular Degeneration
Market Drivers

• Cancer Prevalence: Increasing incidence necessitating effective treatment options.
• Macular Degeneration: Growing burden of AMD, driving demand for VEGF inhibitors.
• Statistics: AMD projected to affect 288 million individuals by 2040.

Treatment Impact

• Anti-VEGF Agents: Crucial in halting disease progression and improving vision in AMD patients.
• Tumor Growth Restriction: VEGF inhibitors play a vital role in slowing tumor growth during cancer treatment.

Major Players in the Market
Leading Companies

• Hoffmann-La Roche AG
• Bayer AG
• Regeneron Pharmaceuticals Inc.
• AstraZeneca Plc.
• Novartis AG
• Pfizer Inc.
• Eli Lilly and Company
• Amgen Inc.
• Sanofi S.A.
• Cipla Limited
• Biocon
• Reddy’s Laboratories
• Chi-Med
• Innovent Biologics
• Daiichi Sankyo
• Chugai Pharmaceutical Co. Ltd.

Notable Acquisitions
Expansion Strategies

• Takeda’s Acquisition of Fruquintinib License: Strengthening market presence through strategic acquisitions.
• Impact: Global license for highly selective oral VEGFR1/2/3 tyrosine kinase inhibitor.

Market Segmentation
By Drugs Type

• Examples: Avastin, Tecentriq, Lucentis, Tagrisso, Cometriq, Eylea, Others.

By Route of Administration

• Options: Oral, Intravenous, Intravitreal.

By Application

• Segments: Oncology, Ophthalmology, Other Applications.

Regional Insights
Leading Regions

• North America: Dominated the market in 2023.
• Middle East: Expected to be the fastest-growing region during the forecast period.

Conclusion
The VEGF inhibitor market is experiencing significant growth, driven by the rising burden of cancer and macular degeneration diseases. Strategic collaborations and innovative product developments are crucial in sustaining market expansion. With a focus on combination therapies, biosimilar production, and reducing treatment dosages, major players are poised to meet the evolving needs of patients worldwide. As the market continues to flourish, investments in R&D and strategic acquisitions will be key to maintaining competitiveness and driving future growth.

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