New York, Aug. 24, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Anti-Vascular Endothelial Growth Factor Therapeutics Global Market Report 2023" - https://www.reportlinker.com/p06486550/?utm_source=GNW
, Viatris Inc., Xbrane Biopharma AB, Bayer AG, Regeneron Pharmaceuticals Inc., Genentech Inc, Allergan Inc., and Novartis AG.
The global anti-vascular endothelial growth factor therapeutics market is expected to grow from $12.01 billion in 2022 to $12.18 billion in 2023 at a compound annual growth rate (CAGR) of 1.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The anti-vascular endothelial growth factor therapeutics market is expected to reach $12.8 billion in 2027 at a CAGR of 1.2%.
The anti-vascular endothelial growth factor therapeutics market consists of revenues earned by entities by providing lapatinib (tykerb), sorafenib (nexavar), sunitinib (sutent), axitinib, and pazopanib.The market value includes the value of related goods sold by the service provider or included within the service offering.
The anti-vascular endothelial growth factor therapeutics market also includes sales of drugs, injectables, and therapy-related products.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Anti-Vascular Endothelial Growth Factor (VEGF) therapeutics are drugs that inhibit the growth of blood vessels, commonly used in the treatment of ophthalmic diseases.These drugs inhibit vascular endothelial growth factors.
It is utilized in the therapy of some tumors and in treating age-related macular degeneration.
North America was the largest region in the anti-vascular endothelial growth factor therapeutics market in 2022.Europe is expected to be the fastest-growing region in the forecast period.
The regions covered in anti-vascular endothelial growth factor therapeutics report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main products of anti-vascular endothelial growth factor therapeutics are eylea, lucentis, and beovu.Eylea refers to a medication used to treat certain eye conditions, including macular degeneration and diabetic retinopathy.
It is used as an anti-vascular endothelial growth factor (anti-VEGF) therapeutic agent to inhibit abnormal blood vessel growth in the eye, often associated with retinal diseases. The anti-vascular endothelial growth factor therapeutics are used for treating macular edema, diabetic retinopathy, retinal vein occlusion, and age-related macular degeneration by hospitals, clinics, oncology centers, and others.
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.
In September 2021, AbbVie Inc., a US-based pharmaceutical and medicine innovator company, entered into a partnership agreement with Regenxbio Inc. for $370 million. This partnership will combine eye care and gene therapy expertise to develop anti-VEGF eye gene therapy. This developmental study uses RGX-314 gene therapy which inhibits VEGF and is designed for treating wet age-related macular degeneration (AMD), retinal diseases, and diabetic retinopathy. Regenxbio Inc is a US-based biotechnology company focused on developing recombinant gene therapies.
The countries covered in the anti-vascular endothelial growth factor therapeutics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The anti-vascular endothelial growth factor therapeutics market research report is one of a series of new reports that provides anti-vascular endothelial growth factor therapeutics market statistics, including anti-vascular endothelial growth factor therapeutics industry global market size, regional shares, competitors with a anti-vascular endothelial growth factor therapeutics market share, detailed anti-vascular endothelial growth factor therapeutics market segments, market trends, and opportunities, and any further data you may need to thrive in the anti-vascular endothelial growth factor therapeutics industry. This anti-vascular endothelial growth factor therapeutics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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