Anti-Vascular Endothelial Growth Factor Therapeutics Market Size Valued at USD $13.32 Billion by 2030, and is Expected to grow at CAGR of 0.4%
The global anti-vascular endothelial growth factor therapeutics market size is expected to reach USD 13.32 billion by 2030, according to a new study by Polaris Market Research.
The anti-vascular endothelial development aspect therapeutics industry is growing due to new product releases, FDA approvals, and research developments. For instance, in September 2021, Byooviz (ranibizumab-nuna) was approved by the US Food and Drug Administration as the first generic drug to Lucentis (ranibizumab injection) for treating a variety of eye diseases and disorders, which include neovascular (wet) age-related macular degeneration (nAMD), a major cause of damage to the optic nerve in Americans aged 65 and older.
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Byooviz is also approved for the treatment of macular edoema (fluid build-up) caused by retinal vein obstruction (retinal vein blockage) and myopic choroidal neovascularization, a vision-threatening consequence of myopia (nearsightedness). If approved, faricimab will be the foremost, and only bispecific antibody developed, especially for the eye.
Further, the rising pipeline drugs for the treatment of these diseases, such as AMD, is the aspect that is driving the anti-vascular endothelial development aspect of therapeutics industry development during the forecast period. ADVM-022 and OpRegen are in Phase I and I/II, correspondingly, in the AMD pipeline. Also, GB-102 and KSI-301 are in Phase II, and II/III are in the development phase.
Besides, Amgen, Inc. is exploring its ABP 938, which is in the late stages of development (Phase III). Thus, the pipeline products launched by the major players for the treatment of AMD are the factor boosting the industry development during the forecast period. Based on the product, the eylea segment accounted for the leading share in the industry in 2021. Throughout the forecast period, the category is expected to maintain its dominance due to developments in formulations and sophisticated drug delivery technologies.
Market players such as Bausch Health Companies, Inc., Viatris, Inc., Amgen, Inc., Coherus Biosciences, Eli Lilly, F. Genentech Inc., Hoffmann-La Roche Ltd., Pfizer, Inc., and Xbrane Biopharma AB are some key players operating in the global anti-vascular endothelial growth factor therapeutics industry.
In July 2021, the US Food and Drug Administration (FDA) had approved Genentech’s Biologics License Application (BLA) for faricimab for the management of wet, or based on superficial, age-related macular degeneration (AMD) and diabetic macular edoema (DME) under Priority Review.
The FDA has also approved the company’s diabetic retinopathy application. If agreed, faricimab will be the foremost and singular bispecific antibody explicitly created for the eye. Thus, the product launches and US FDA approvals for the drugs to treat various diseases are the factors boosting the market growth during the forecast period.
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Polaris Market Research has segmented the anti-vascular endothelial growth factor therapeutics market report based on product, disease, and region:
Anti-Vascular Endothelial Growth Factor Therapeutics, Product Outlook (Revenue – USD Million, 2018 – 2030)
Anti-Vascular Endothelial Growth Factor Therapeutics, Disease Outlook (Revenue – USD Million, 2018 – 2030)
- Macular Edema
- Diabetic Retinopathy
- Retinal Vein Occlusion
- Age-related Macular Degeneration
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