LONDON--(BUSINESS WIRE)--The global vascular endothelial growth factor inhibitors market size is poised to reach USD 10.2 billion by 2023, according to a new report by Technavio, progressing at a CAGR of more than 8% during the forecast period. The high target affinity and specificity of VEGF inhibitors is projected to augment the market over the forecast period.
Key suggestions from the report:
- Oncology segment represented close to 56% of the overall volume in 2018 owing to the increasing prevalence of various cancers globally.
- Ophthalmology segment is likely to register a CAGR of close to 9% in terms of revenue from 2019 to 2023 on account of the high prevalence of ophthalmic conditions, such as AMD RVO.
- The North-American vascular endothelial growth factor inhibitors market accounted for more than 47% of the overall revenue in 2018, owing to the sales of approved VEGF inhibitors and the increasing prevalence of several cancer indications, including RCC, melanomas, and NSCLC.
- The VEGF inhibitors market is moderately concentrated with a few players occupying the market share. In addition, the promising pipeline and expected approvals of the drugs are expected to intensify the competition among vendors.
Read a 128-page research report with TOC on "Vascular Endothelial Growth Factor Inhibitors Market Analysis Report by application (oncology and ophthalmology) and segment forecasts for 2019 to 2023" at https://www.technavio.com/report/vascular-endothelial-growth-factor-vegf-inhibitors-market-industry-analysis
Although there are several approved therapies in the field of ophthalmology and oncology, the market is still witnessing the unmet need due to the strong prevalence of metastatic carcinomas indications. The VEGF inhibitors are known to demonstrate promising results in oncology and their efficacy is higher than conventional treatments. The high target affinity and specificity of VEGF inhibitors will fuel the market growth during the forecast period.
The VEGF inhibitors market has a substantial number of drugs treating cancer and eye disorders. However, some metastatic cancer does not respond to a monotherapy drug. Thus, the popularity of combination therapy is increasing as drugs treating cancer are most effective when given in combination therapy. In combination therapy, drugs working on different mechanisms act on the site, thereby decreasing the likelihood that resistant cancer cells will develop. Thus, the growing popularity of combination therapy will fuel the growth of the market during the forecast period.
- Request Free Sample Pages @ https://www.technavio.com/talk-to-us?report=IRTNTR31585
Several carcinomas and eye disorders are caused due to abnormal gene mutations. These gene mutations occur from the damage to genes in the cell during a person’s life span. Gene therapy has emerged as an effective therapy for the treatment of oncology. The minimum side effects and remissive nature of this therapy make this a popular treatment option. The rising preference for gene therapy is expected to hamper the growth of the VEGF inhibitors market during the forecast period.
Technavio has segmented the global vascular endothelial growth factor inhibitors market based on the application (oncology and ophthalmology) and region (North America, Europe, Asia, and ROW).
Related Reports on Healthcare Market are:
Genitourinary Drugs Market – Global genitourinary drugs Market report provides a detailed analysis of the market by type (genital diseases and urinary diseases) and geography (Asia, Europe, North America, and ROW).
Transdermal Drug Delivery Market – Global transdermal drug delivery market report provides a detailed analysis of the market by service application (analgesics, neurological disorders, hormone replacement therapy, cardiovascular disorders, and others) and geography (Asia, Europe, North America, and ROW).
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.