Major players in the vascular endothelial growth factor (VEGF) inhibitor market are Pfizer, Amgen, Roche, Xbrane Biopharma AB, Genentech Inc. , AstraZeneca plc, Bayer AG, Eli Lilly and Company and Allergan plc.
New York, Dec. 21, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Vascular Endothelial Growth Factor (VEGF) Inhibitor Global Market Report 2020-30: COVID-19 Growth and Change" - https://www.reportlinker.com/p05999220/?utm_source=GNW
The global vascular endothelial growth factor (VEGF) inhibitor market is expected to decline from $0.31 billion in 2019 to $0.28 billion in 2020 at a compound annual growth rate (CAGR) of -8.5%. The decline is mainly due to the COVID-19 outbreak that has led to restrictive containment measures involving social distancing, remote working, and the closure of industries and other commercial activities resulting in operational challenges. The entire supply chain has been disrupted, impacting the market negatively. The market is then expected to recover and reach $1.72 billion in 2023 at a CAGR of 83%%.
The vascular endothelial growth factor (VEGF) inhibitor market consists of sales of vascular endothelial growth factor (VEGF) inhibitor biosimilars. Vascular endothelial growth factor (VEGF)/vascular endothelial growth factor (VEGFR) inhibitors are agents that inhibit VEGF and VEGFR activity. Vascular endothelial growth factor (VEGF) is an essential growth factor that promotes the growth of new blood vessels.
In May 2020, AbbVie Inc., a US-based biopharmaceutical company, acquired Allergan plc for an amount of $63 billion. This acquisition is expected to give AbbVie Inc. an enhanced long-term growth potential along with a growing dividend and investment in innovation in each of Allergan plc therapeutic categories. Allergan plc is an Ireland-based pharmaceutical company engaged in the manufacturing of drugs and medical devices in the field of eye care, medical aesthetics, gastroenterology, and the central nervous system.
The vascular endothelial growth factor (VEGF) inhibitor market covered in this report is segmented by drugs type into avastin; tecentriq; cometriq; eylea; others. It is also segmented by route of administration into oral; intravenous, and by application into oncology; ophthalmology; others.
Side effects caused by VEGF inhibitors are expected to hinder the vascular endothelial growth factor (VEGF) inhibitor market. Side effects of treatment with VEGF-targeting angiogenesis inhibitors include hemorrhage and clots in the arteries, which results in a stroke or heart attack, hypertension, reversible posterior leukoencephalopathy syndrome, impaired wound healing, and protein in the urine. For instance, Bevacizumab, a biosimilar drug approved by FDA in 2018, has side effects such as impaired wound healing, hypertension, bleeding, and gastrointestinal perforations. Side effects caused by VEGF inhibitors hinders the growth of the vascular endothelial growth factor (VEGF) inhibitor market.
Key players operating in the industry are undergoing various collaborations and partnerships to expand their product portfolio by developing new products. For instance, in August 2018, Momenta Pharmaceuticals, Inc., a US-based biotechnology company, and Mylan N.V., a pharmaceutical company based in the US, entered into a partnership for the development of M710, a proposed biosimilar to EYLEA (aflibercept) injection. EYLEA is a vascular endothelial growth factor (VEGF) inhibitor indicated for the treatment of various diseases including neovascular (wet) age-related macular degeneration, diabetic retinopathy and diabetic macular edema, and macular edema following retinal vein occlusion. Furthermore, in January 2020, Exonate, a biotechnology company, collaborated with Janssen Pharmaceuticals, a subsidiary of Johnson & Johnson for the development of a new eye drop for the treatment of retinal vascular diseases. Exonate developed small molecules that inhibit the production of pro-angiogenic vascular endothelial growth factor (VEGF) through the selective inhibition of serine/threonine-protein kinase (SRPK1)-mediated VEGF splicing.
The growing prevalence of cancer and macular degeneration disease is expected to drive the vascular endothelial growth factor (VEGF) inhibitor market. For instance, according to the Macular Society’s statistics published in October 2018, about 1.5 million people in the UK are affected by macular disease. Furthermore, according to the World Health Organization (WHO), cancer is the second leading cause of death worldwide, accounting for 9.6 million deaths and 18.1 million new cancer cases in 2018. Anti-vascular endothelial growth factor (anti-VEGF) agents halt the progression of the disease and improve vision. Vascular endothelial growth factor (VEGF) inhibitor slows and restricts tumor growth during cancers. Hence, the rising prevalence of cancer along with macular degeneration disease aids in the growth of the vascular endothelial growth factor (VEGF) inhibitor market over the forecast period.
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