Market Overview: The endocrine therapy drugs market comprises drugs that are used in the treatment of hormone-sensitive cancers such as breast, ovarian and prostate cancers. These drugs include selective estrogen receptor modulators (SERMs), aromatase inhibitors, gonadotropin-releasing hormone (GnRH) agonists and antagonists. They work by blocking the growth-promoting effects of hormones like estrogen and progesterone on hormone-receptor-positive cancers. With rising prevalence of breast, ovarian and prostate cancers globally, the demand for safer and effective endocrine therapy drugs is increasing.
The global Endocrine Therapy Drugs (ETDs) Market is estimated to be valued at US$ 30434.86 Mn in 2023 and is expected to exhibit a CAGR of 5.1% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Key Trends:
Increasing Prevalence of Hormone-sensitive Cancers
The key driver behind the growth of the global endocrine therapy drugs market is the significant rise in the incidence of hormone-sensitive cancers globally. For instance, according to GLOBOCAN 2020, breast cancer is the most common cancer in women with an estimated 2.3 million new cases diagnosed in 2020. Moreover, prostate cancer incidence is also increasing globally with 1.4 million new cases reported in 2020. The rising prevalence of such hormone-dependent cancers is expected to drive the demand for endocrine therapy drugs during the forecast period.
SWOT Analysis
Strength: ETDs have demonstrated effectiveness in treating hormone-receptor positive cancers like breast cancer and prostate cancer. They can stop or slow the growth of hormone-dependent tumors.
Weakness: Side effects of ETDs like joint pain, hot flashes, low libido, weight gain, fatigue etc. can impact patient adherence and compliance. Different types of ETDs also have specific side effect profiles.
Opportunity: Rising incidence of hormone-receptor positive cancers and growing geriatric population presents an opportunity for increased usage of ETDs. Ongoing development of new delivery systems can help improve side effect profiles.
Threats: Patent expiry of blockbuster drugs may lead to increased competition from generic versions. Development of new anti-cancer therapies targeting alternative pathways can pose a treatment substitution threat.
Key Takeaways
The global Endocrine Therapy Drugs (ETDs) Market Growth is expected to witness high over the forecast period of 2023 to 2030.
Regional analysis: North America currently dominates the global ETDs market and is expected to continue its dominance over the forecast period. This is attributed to growing cancer prevalence, availability of advanced healthcare facilities, and favorable reimbursement policies in the region. Asia Pacific region has emerged as the fastest growing market for ETDs and is expected to showcase highest growth over the coming years, driven by rise in cancer incidence, increasing healthcare expenditure, and expansion of key pharma companies in the region.
Key players: Key players operating in the endocrine therapy drugs market are Novo Nordisk A/S, AstraZeneca, Generex Biotechnology, Orion Pharma AB, Sanofi, Teva Pharmaceutical Industries Ltd., F. Hoffmann-La Roche, Hisamitsu Pharmaceutical Co.,Inc., Bayer AG, Eli Lilly and Company, Abbott, Tonghua Dongbao Pharmaceutical Co., Ltd., Merck & Co., Inc., TherapeuticsMD, Inc., Pfizer Inc., Allergan, BioSante Pharmaceuticals, Amgen Inc., Noven Pharmaceuticals, Inc., and QuatRx Pharmaceuticals. These players are focusing on strategies like expansions, mergers & acquisitions, partnerships and new product launches to expand their market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author – Money Singh
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile