Market Trends of Vascular Endothelial Growth Factors (VEGF) Inhibitors Industry
The Oncology Segment is Expected to Witness Significant Growth Over the Forecast Period
The oncology application segment dominates the vascular endothelial growth factors (VEGF) inhibitor market and is expected to grow in the next five years.
According to the World Health Organization (WHO), in 2022, the global cancer burden was estimated to be 20 million new cases with 9.7 million deaths. Approximately 1 in 5 individuals develop cancer during their lifetime; about 1 in 9 males and about 1 in 12 females die from cancer. The projected number of new cancer cases in 2050 is projected to be over 35 million, which is an increase of 77% from the estimated number of 20 million in 2022. This rapidly increasing global cancer burden is a result of the aging and growth of the population, combined with changes in the exposure of people to risk factors.
This large number of patients means a growing need for effective treatment options. VEGF plays a vital role in the growth and spread of tumors. Cancer cells hijack the signaling of VEGFs to form new blood vessels. These new blood vessels provide oxygen and nutrients to the cancer cells, allowing them to grow and spread rapidly. Inhibitors of vascular endothelial growth factors (VEGFs) disrupt this process and starve the tumors of nutrients, slowing their growth and progression.
A study published in the Journal of Hematology & Oncology (2022) shows a well-established track record of success with vascular endothelial growth factors (VEGF) inhibitors in various cancers. For instance, drugs such as Avastin, a vascular endothelial growth factors (VEGF)-targeted drug, are effective in the treatment of lung cancer, colon cancer, and other types of cancer. These drugs have solidified their place as the cornerstone of cancer treatment. Hence, the growing prevalence of cancer is expected to drive the vascular endothelial growth factors (VEGF) inhibitors market.
North America is Expected to Dominate the Vascular Endothelial Growth Factors (VEGF) Inhibitors Market
North America's leading in the vascular endothelial growth factors (VEGF) inhibitors market is mostly due to the higher prevalence of age-related macular degeneration (AMD), rapidly growing aging population, and clinical pipeline advancements that will drive the growth of the market in the region.
North America has a high prevalence of age-related macular degeneration AMD, with wet age-related macular degeneration (wet-AMD) being the leading cause of severe vision loss in older adults. This large number of patients requires effective treatments such as VEGF inhibitors. Age-related macular degeneration (AMD) is a disease associated with aging, and North America’s aging population contributes to its increase. As the population ages, the number of cases of AMD is expected to continue to rise.
According to Macular Degeneration Research in February 2023, macular degeneration is one of the leading causes of irreversible blindness and vision impairment. In the United States, approximately 20 million adults live with some form of AMD, with 1.5 million living with the advanced form. According to a new study published in the National Eye Institute (2023), the number of people living with AMD is expected to more than double between 2010 and 2050, rising from 2.1 million to 5.4 million. Moreover, advances in diagnostic techniques make it possible for AMD to be diagnosed earlier. Early diagnosis allows for prompt treatment with anti-VEGF inhibitors, which help to prevent vision loss.
The demand for anti-VEGF inhibitors is surging in Canada. A higher incidence of age-related macular degeneration, potentially expanding the demand for the treatment. According to a study published in Investigative Ophthalmology & Visual Science in June 2022, about 2.5% of Canadians suffer from age-related macular degeneration (AMD).
In conclusion, the confluence of an aging population, increasing prevalence of age-related macular degeneration (AMD), rising healthcare spending, growing disease awareness, and a robust development pipeline all contribute to the surging demand for vascular endothelial growth factors (VEGF) inhibitors in North America.
