New York, April 18, 2023 (GLOBE NEWSWIRE) -- Backed by the rising need for VEGF inhibitors in cancer therapy, the global Anti-VEGF Market was valued at US$ 22.7 billion in 2022 and is predicted to expand at a CAGR of 3.9% from 2023 to 2033. Demand for VEGF inhibitors is projected to reach US$ 34.9 billion by the end of 2033.
Anti-VEGF, or vascular endothelial growth factor inhibitors, constitute a category of drugs employed to manage different forms of cancer, such as kidney, colon, lung, liver, breast, and glioblastoma (a malignant brain tumor). These belong to the class of medications called "tyrosine kinase inhibitors," which curtail blood supply to tumors.
In cancer treatment, VEGF inhibitors are used to prevent the growth of blood vessels that supply tumors with oxygen and nutrients, which can slow down or stop the growth of the tumor. They are often used in combination with chemotherapy or radiation therapy.
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Sustainable development strategies, acquisitions, collaborations in research activities, and manufacturing capabilities are some trends observed among the key market players. Leading players such as Sanofi SA, Novartis AG, F. Hoffmann La-Roche Ltd., and Pfizer Inc. among others are currently dominating the global anti-VEGF market.
To expand their customer base and increase their market share, market players are concentrating on forming alliances with new businesses.
- In August 2022, Sanofi's partnered with Innovent Biologics to create and distribute drugs in China for patients with cancers that are challenging to manage.
Key Takeaways from Market Study
- The global anti-VEGF market is expected to reach a valuation of US$ 34.9 billion by 2033.
- Biologics accounted for 73.3% share of the anti-VEGF market in 2022.
- VEGF-A inhibitors held 49.1% share of the global market in 2022.
- By disease indication, oncology held a market share of 95.5% in 2022.
- The hospitals segment accounted for a market share of 49.4% in 2022.
- North America held 58.3% share of the global market in 2022.
“The global anti-VEGF market is predicted to expand steadily owing to the growing utilization of combination treatments and the escalating number of clinical trials for anti-VEGF drugs,” says an analyst at Persistence Market Research.
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Market Competition
Anti-VEGF medications are used to inhibit the development of blood vessels that provide nourishment to tumors, providing treatment for a variety of cancers. The VEGF inhibitor market is subject to continuous change, as new drugs are developed and authorized for use in different types of cancer.
Major players in the industry are concentrating on licensing and acquisition agreements, with the aim of expanding their customer base and augmenting their range of products. Instead of relying on mergers and acquisitions, the company contends that partner synergy has a direct impact on growth.
- In November 2021, Sanofi acquired Kadmon to strengthen the growth and expansion of its general medicines portfolio.
- In February 2019, Eli Lilly and Company acquired Loxo Oncology, Inc. The collaboration aims to strengthen Eli Lilly’s oncology portfolio through Loxo Oncology Inc’s pipeline of highly selective medicines for genomically defined cancer patients.
What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights into the anti-VEGF market in its latest study, presenting a historical demand assessment for 2012 to 2022 and projections for 2023 to 2033.
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The research study is based on
- Drug: (small molecules [Pazopanib, Sunitinib, Sorafenib, Regorafenib, Cabozantinib, Lenvatinib, Ponatinib, Cabozantinib, Axitinib, Tivozanib, Vandetanib, Anlotinib, Apatinib, Fruquintinib, Surufatinib), Biologics (Bevacizumab, Aflibercept, Ramucirumab]),
- By Type: (VEGF-A inhibitors, VEGF-B inhibitors, VEGF-C inhibitors, placenta growth factor inhibitors),
- By Disease indication: (oncology [non-small cell lung cancer, renal cell carcinoma, colorectal cancer, hepatocellular carcinoma, cervical cancer, others], hematology disorders, ophthalmology disorders [wet age-related macular degeneration (AMD), diabetic retinopathy, others]),
- By distribution channel (hospitals, specialty clinics, mail order pharmacies), across seven key regions of the world.
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Our expert team of industry analysts comprising management graduates, medical professionals, engineers, and project managers provides insights on emerging therapy areas, diagnostic tools, medical devices and components, reimbursement and market access, biotechnology, and life sciences research products and services to equip decision-makers with sound inputs and strategic recommendations.
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