VEGF Inhibitor Drugs Market To Grow By 2028 On Account Of Rising Demand For Monoclonal Antibodies As Therapy
Research Nester released a report titled “VEGF Inhibitor Drugs Market: Global Demand Analysis & Opportunity Outlook 2028” which delivers detailed overview of the global VEGF inhibitor drugs market in terms of market by target, by inhibitor, by application, by distribution channel and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
According to the American Cancer Society, more than 1.8 million new cases are estimated to be diagnosed in the United States in 2020. Further, around 606,520 people in the region are predicted to die of cancer, i.e., about 1,660 deaths every day in the same year.
Vascular endothelial growth factor (VEGF) is an angiogenic factor responsible for the formation of blood vessels. It plays an important role in the survival of various forms of tumor as it induces tumor angiogenesis. The market for VEGF inhibitor drugs is anticipated to record a CAGR of around 9% over the forecast period, i.e., 2020-2028. The market is segmented by target, by inhibitor, by application, by distribution channel and region. On the basis of application, the market is segmented into oncology, ophthalmology and others, out of which, the segment for oncology is predicted to grow at the highest rate over the forecast period on account of increasing cases of cancer globally.
Based on region, the VEGF inhibitor drugs market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. On the basis of this, the market in North America is estimated to lead the market with largest share globally as a result of increasing initiatives and investments by government and private entities that are promoting research and development of cancer therapies and treatments, including VEGF inhibitor drugs.
Rising Demand for Combination Therapy to Boost the Market Growth
The growing demand for combination therapies as a result of their higher effectiveness than monotherapy drugs, especially in the case of various cancers, is anticipated to become a major growth factor for the VEGF inhibitor drugs market. Further, the increasing demand for effective cancer therapies which result in minimum side effects is anticipated to be another growth driving factor for the market. However, the high cost of VEGF inhibitor drugs, especially among the people belonging to middle and lower classes, it predicted to restrict the market growth over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global VEGF inhibitor drugs market which includes company profiling of Pfizer, Inc., Novartis AG, GlaxoSmithKline plc, Sanofi, AstraZeneca plc, Bristol-Myers-Squibb Company, Genentech, Inc. (Roche), Merck & Co., Inc., Bayer AG and Eli Lilly & Company. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global VEGF inhibitor drugs market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.