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COVID-19

Vascular Endothelial Growth Factor (VEGF) Inhibitor Market to Decline but Recover and Reach $1.72 Billion by 2023

Strategic Insights

— 1 min read

The VEGF inhibitor market is experiencing a decline due to the COVID-19 pandemic, but it is expected to recover and grow significantly in the coming years. The market was valued at $0.31 billion in 2019 and is projected to reach $1.72 billion by 2023 at a compound annual growth rate (CAGR) of 83%. The growing prevalence of cancer and macular degeneration diseases is expected to drive the market. Key players in the industry are undergoing collaborations and partnerships to expand their product portfolios.

Key Takeaways:

  • The global VEGF inhibitor market is expected to decline from $0.31 billion in 2019 to $0.28 billion in 2020 at a CAGR of -8.5% due to the COVID-19 pandemic.
  • The market is expected to recover and reach $1.72 billion in 2023 at a CAGR of 83% driven by the growing prevalence of cancer and macular degeneration diseases.
  • VEGF inhibitors are used to treat various diseases, including neovascular (wet) age-related macular degeneration, diabetic retinopathy, and macular edema following retinal vein occlusion.
  • Side effects caused by VEGF inhibitors, such as impaired wound healing, hypertension, and gastrointestinal perforations, are expected to hinder the market growth.
  • Key players in the industry are undergoing collaborations and partnerships to expand their product portfolios.
  • The market is segmented by drugs type, route of administration, and application, with oncology and ophthalmology being the primary applications.
  • Companies such as Pfizer, Amgen, Roche, Xbrane Biopharma AB, Genentech Inc., AstraZeneca plc, Bayer AG, and Eli Lilly and Company are major players in the industry.

Statistics:

  • The global VEGF inhibitor market was valued at $0.31 billion in 2019.
  • The market is expected to decline to $0.28 billion in 2020 at a CAGR of -8.5%.
  • The market is expected to recover and reach $1.72 billion in 2023 at a CAGR of 83%.
  • The market is projected to grow from $0.28 billion in 2020 to $1.14 billion in 2025 at a CAGR of 64.2%.
  • The market is expected to reach $1.72 billion in 2030 at a CAGR of 4.5%.

Sources:

  • ResearchAndMarkets.com, "Vascular Endothelial Growth Factor (VEGF) Inhibitor Global Market Report 2020-30: COVID-19 Growth and Change"
  • GlobeNewswire, "Vascular Endothelial Growth Factor (VEGF) Inhibitor Global Market Report 2020-30: COVID-19 Growth and Change"
  • Comtex SmarTrend Alert, "AZN and LLY Trends"

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