by Endocrine therapy drugs are commonly used for the treatment of hormone-receptor positive breast cancer which accounts for around 70% of all breast cancer cases. These drugs work by blocking the effects of estrogen or other natural hormones in the body that support the growth and spread of cancer cells. Some of the commonly prescribed endocrine drugs include selective estrogen receptor modulators (SERMs), selective estrogen receptor degraders (SERDs), aromatase inhibitors and luteinizing hormone-releasing hormone (LHRH) agonists or antagonists. Growing prevalence of breast cancer coupled with rising awareness about hormonal therapy treatment options is a key driver augmenting the demand for endocrine therapy drugs worldwide.
The global Endocrine Therapy Drugs (ETDS) Market is estimated to be valued at US$ 35060.96 million in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing prevalence of breast cancer is one of the key trends fueling the Endocrine Therapy Drugs (ETDS) Market growth. According to the WHO, breast cancer is the most common cancer among women worldwide, with an estimated 2.3 million new cases and 685,000 deaths every year. Developed nations including the US and countries in Europe account for over 50% of all breast cancer incidents globally. Hormonal therapies target estrogen receptors on cancer cells and are a very effective treatment option for hormone receptor positive breast cancers. The rising patient pool suffering from breast cancer is directly increasing the demand and consumption of endocrine drugs during the forecast period.
SWOT Analysis
Strength: The Endocrine Therapy Drugs (ETDS) Market has a strong presence of key players who are investing heavily in the research and development of novel and effective drugs. These drugs are effective in treating various types of cancer like breast cancer.
Weakness: High costs associated with the drug development and regulatory approvals is one of the major challenges faced by players in this market. Side effects of the drugs pose compliance issues among patients.
Opportunity: Growing prevalence of cancer especially breast cancer worldwide presents significant growth opportunities. Increasing awareness levels also support the market growth. Emerging economies with large patient pools present an untapped market.
Threats: Presence of generic alternatives pose pricing pressure on branded drugs. Stringent regulatory frameworks for approval and safety monitoring are other challenges.
Key Takeaways
Global Endocrine Therapy Drugs (ETDS) Market Size is expected to witness high growth over the forecast period of 2024 to 2031. The global Endocrine Therapy Drugs (ETDS) Market is estimated to be valued at US$ 35060.96 million in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2024 to 2031.
Regional analysis shows that North America dominates currently due to strong pharmaceutical industry and healthcare infrastructure in the region. The market in Asia Pacific is expected to be the fastest growing region supported by growing patient pool, increasing disposable incomes, and focus of key players on emerging countries for market expansion.
Key players operating in the Endocrine Therapy Drugs (ETDS) Market are Johnson & Johnson (US), Procter & Gamble (US), AstraZeneca (UK), Novartis (Switzerland), Pfizer Inc. (US), AbbVie Inc. (US), Merck & Co., Inc. (US), Teva Pharmaceutical Industries Ltd. (Israel), . These players are engaged in new product launches, partnerships, and geographic expansions to strengthen their market presence. For instance, AstraZeneca launched new breast cancer drugs and expanded in Asia Pacific markets.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
