Anti-Vascular Endothelial Growth Factor Therapeutics Market Size, Share & Trends Analysis Report By Product (Eylea, Beovu), By Disease (Diabetic Retinopathy, AMD), By Region (APAC, North America), And Segment Forecasts, 2021 - 2028

Report Overview

The global anti-vascular endothelial growth factor therapeutics market size was valued at USD 11.67 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 0.5% from 2021 to 2028. The anti-Vascular Endothelial Growth Factor (VEGF) therapeutics market growth can be attributed to an increase in the prevalence of ophthalmic diseases, such as macular edema, diabetic retinopathy, retinal vein occlusion, and Age-related Macular Degeneration (AMD), coupled with an increasing geriatric population that is exposed to the risk of developing the condition. According to the WHO, around 196 million people are affected by AMD globally, which includes over 10.4 million cases with moderate to severe vision impairment. In addition, product launches and research advancements are contributing to market growth.

AMD is the leading cause of vision loss among the Canadian population; it affected around 1.4 million people in 2018. In 2017, in the European Union, approximately 34 million people were estimated to suffer from AMD. In addition, the alarmingly increasing rate of diabetes prevalence globally is a major market driver. As per the Lancet journal, in 2018, the annual incidence of diabetic retinopathy ranges between 12.7% and 2.2%.

Moreover, with the growing geriatric population, the incidence of eye disorders is projected to increase over the coming years. According to WHO estimates, the number of people aged above 60 years has outnumbered the population of children aged 5 years. By the end of 2050, the geriatric population is estimated to be around 2 billion from 900 million in 2015. Furthermore, globally, 125 million people belong to the age group of 80 years and above.

The focus of market players is shifting to longer-acting VEGF products and treatments for these conditions. The recent launch of brolucizumab by Novartis in 2019 has increased competition among the existing drugs in the market. A longer-acting VEGF medication-Beovu (brolucizumab)-has been introduced, with an initial 3 monthly loading dose, which is later administered every 8 to 12 weeks.

Moreover, the companies are developing various formulations and drug delivery systems that may increase the adoption of these therapies. For instance, F. Hoffmann La Roche Ltd. is developing the port delivery system-RG6321 (Ranibizumab)-which is currently undergoing a phase III clinical trial. It is an eye implant that is refillable and continuously delivers a customized formulation of ranibizumab over a period of months.

However, low screening and diagnostic rates of diabetic retinopathy in developing nations adversely impact market growth. The high chances of intraocular injuries in anti-VEGF treatment are another factor acting as a market restraint. In addition, the patent cliff is one of the major issues in the pharmaceutical industry, as major blockbuster drugs typically account for a large percentage of company turnovers.

Key players in the market are involved in the development of biosimilar due to the patent expiry of Lucentis in the U.S. in June 2020 and in Europe in 2022. In November 2019, CoherusBioSciences, Inc. entered into a license and development agreement with Bioeq IP AG for the commercialization of Lucentis biosimilar in the U.S. The company is planning to introduce the product into the market in 2021, which is anticipated to increase the cost-effectiveness of the treatment, making it available to a larger target population.

Product Insights

The Eylea product segment dominated the global market in 2020 with a revenue share of over 67%. The segment is anticipated to retain its dominance throughout the forecast period. The product is expected to witness significant demand owing to advancements in formulations and the development of advanced drug delivery systems. In April 2020, Bayer AG announced the launch of Eylea injection prefilled syringes in the EU market, which is valid in all 27 EU member states.

This new formulation may increase product adoption by ophthalmologists due to its ease of administration. Beovuis anticipated witnessing the fastest CAGR over the forecast period owing to geographic expansion and patent exclusivity. In February 2020, Novartis AG announced EC approval for the launch of Beovu (brolucizumab) injection for treating WAMD. The EC approval applies to all 27 EU member states. The product approval in a new geographic region may increase sales of the product and expand the customer base.

Disease Insights

The Age-related Macular Degeneration (AMD) segment accounted for the largest market share of more than 86% in 2020. The segment is expected to maintain the leading position over the forecast period owing to the increasing disease burden, growing geriatric population, and presence of late-stage product candidates that are expected to enter the market in the coming years. For instance, REGENXBIO Inc.’s pipeline candidate-RGX-314-is currently undergoing a phase II clinical trial and can be commercialized by the end of 2023.

The diabetic retinopathy segment is expected to grow at the fastest CAGR during the forecast years owing to unmet medical needs and an increasing number of treatment approvals for diabetic retinopathy. One-fifth of the diabetic population suffers from retinopathy, leading to 56% of visual impairment cases globally. In May 2019, Regeneron Pharmaceuticals received approval from the FDA for treating all stages of diabetic retinopathy which may fuel the growth of the segment.

Regional Insights

North America region accounted for the highest revenue share of more than 64% of the global market in 2020. The regional market is expected to witness a significant growth rate over the forecast period. Factors, such as high disease prevalence, rising consumer awareness, proactive government measures, technological advancements, and improvements in healthcare infrastructure are expected to boost the regional market growth. The presence of key players in North America will also support the market growth. In May 2020, F. Hoffmann-La Roche Ltd. announced the top-line phase III clinical trial results for formulation advancement of ranibizumab with the Port Delivery System.

Such delivery systems with technological advancements and product launches are expected to positively impact the market growth in the region. Asia Pacific is expected to grow at the fastest CAGR of 2.4% from2021 and 2028. An increase in penetration of anti-VEGF products, rising disposable income, and growing consumer awareness are the key factors expected to drive the regional market growth. Furthermore, a rising number of initiatives, such as improving access to anti-VEGF medications through favorable reimbursement policies, undertaken by the governments for improving the health of the population may fuel the product adoption, thereby augmenting the regional market growth.

Key Companies & Market Share Insights

Key companies are adopting strategies that allow them to use their resources to aid in the development of new products. For instance, in December 2020, F. Hoffmann-La Roche Ltd. announced positive top-line results from global phase III studies evaluating faricimab in people with DME. Faricimab was well-tolerated with no safety signals identified. Some of the prominent players in the global anti-VEGF therapeutics market include:

• F. Hoffmann-La Roche Ltd.

• Biogen

• Pfizer, Inc.

• CoherusBioSciences

• Amgen, Inc.

• Bausch Health Companies, Inc.

• Viatris, Inc.

Anti-Vascular Endothelial Growth Factor (VEGF) Therapeutics Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For the purpose of this study, Grand View Research has segmented the global anti-vascular endothelial growth factor therapeutics market report on the basis of product, disease, and region:

• Product Outlook (Revenue, USD Million, 2017 - 2028)

  • Eylea

  • Lucentis

  • Beovu

• Disease Outlook (Revenue, USD Million, 2017 - 2028)

  • Macular Edema

  • Diabetic Retinopathy

  • Retinal Vein Occlusion

  • Age-related Macular Degeneration

• Regional Outlook (Revenue, USD Million, 2017 - 2028)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • India

    • China

    • Japan

    • Australia

  • Latin America

    • Argentina

    • Brazil

    • Mexico

  • Middle East & Africa

    • Saudi Arabia

    • UAE

    • South Africa